2990 Whites Chapel Rd · Phenix, VA 23959

$125,000

5 bd · 2.0 ba · 3,520 sqft · SingleFamily · 10 Days on market

Built 2022 Good condition 17 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.9/30.0
• DSCR +9.3/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.1/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0

Listing remarks

* Attention homesteaders and farmers * This multi generational farm property is your chance to own 2 houses on a very large tract of land. The main home boasts 5 bedrooms and 2 baths with a full basement. The second home is new construction just waiting for you to finish the final touches. The land spans both sides of the road with lots of road frontage and is already equipped with barns, a greenhouse and much more! If you are ready to step into farm life and build your own family compound this property is for you! Property is going to Auction Friday June 26th at 2:00 pm. Buy now or buy at Auction!

Key facts

• Large tract of land
• Open pasture
• Walk up attic

Tags

• LARGE TRACT OF LAND
• FULL BASEMENT
• WALK UP ATTIC
• OPEN PASTURE
• FENCING
• BARN

Property features AI

Finance

• Other: Approximately 414.5 acres; Zoned A

Exterior

• Utilities: Well water
• Home design: Single family residence; One-story
• Construction: Vinyl siding
• Exterior features: Metal roof

Interior

• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wood stove heating
• Interior features: Vinyl flooring; Full basement
• Laundry & utility: Laundry in basement; Wood stove heating

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).

Location & tenants

• Location reads 64/100 on livability (#360 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B+, housing B+; Watch: health & safety C-, crime D+, amenities F.
• Charlotte County Public School District (rural): math 51% / reading 72% proficiency, ranked #59 of 131 in VA (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Phenix Elementary (math 52% / reading 72%, grade B, #480 of 1,108 statewide, top 46%, 226 students, 87% FRL); Central Middle (math 49% / reading 69%, grade B, #166 of 342 statewide, top 50%, 370 students, 85% FRL); Randolph-Henry High (math 47% / reading 82%, grade B-, #213 of 319 statewide, top 69%, 478 students, 84% FRL) — zoned schools average 85% FRL vs 48% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.6% local appreciation)).
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.83%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.80×
• Total profit: $62,864
• Equity at exit: $83,659

10-year hold

• IRR: 24.5%
• Equity multiple: 5.76×
• Total profit: $166,675
• Equity at exit: $156,301

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23959

• Home prices YoY: 6.2%
• Active inventory: 23
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,530 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $345

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 72%

Sensitivity live

Price	-10% $431	-5% $388	+0% $345	+5% $302	+10% $259
Rent	-10% $224	-5% $285	+0% $345	+5% $405	+10% $466
Rate	-1.0pp $408	-0.5pp $377	base $345	+0.5pp $313	+1.0pp $280

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $125,000 Active 10 DOM
2. 2026-06-18
   days on market $125,000 Active 8 DOM
3. 2026-06-17
   days on market $125,000 Active 7 DOM
4. 2026-06-16
   days on market $125,000 Active 6 DOM
5. 2026-06-15
   days on market $125,000 Active 5 DOM
6. 2026-06-15
   days on market $125,000 Active 4 DOM
7. 2026-06-13
   days on market $125,000 Active 3 DOM
8. 2026-06-12
   pricedays on marketlisting id $125,000 Active 2 DOM
9. 2026-06-09
   days on market $1,999,000 Active 4 DOM
10. 2026-06-08
    days on market $1,999,000 Active 3 DOM
11. 2026-06-08
    days on market $1,999,000 Active 2 DOM
12. 2026-06-07
    remarks 606-char remark
13. 2026-06-07
    listed $1,999,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,363
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$3,636
• Taxable income: $2,287
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $3,592/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 75/100 Moderate rehab

This multi-generational farm property offers two homes on a large tract of land. The main home is in good condition with minor repairs needed, and the second home is new construction. The property is well-maintained and has a good curb appeal, making it a good investment opportunity.

Repairs flagged

• Minor roof — No visible damage
• Minor exterior — No visible damage
• Minor flooring — No visible damage
• Minor interior walls/paint — No visible damage
• Minor HVAC/mechanicals — No visible damage
• Minor landscaping/curb appeal — Well-maintained

Value-add opportunities

• Both Painting and updating interior walls — Fresh paint can improve the home's appearance and appeal to buyers
• Both Landscaping and curb appeal — A well-maintained yard and curb appeal can attract more buyers and renters
• Both HVAC maintenance and upgrades — A well-maintained HVAC system can improve comfort and energy efficiency
• Both Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can increase the home's value and appeal to buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible damage	Minor	$500–3,000
exterior · No visible damage	Minor	$500–3,000
flooring · No visible damage	Minor	$500–3,000
interior walls/paint · No visible damage	Minor	$500–3,000
HVAC/mechanicals · No visible damage	Minor	$500–3,000
landscaping/curb appeal · Well-maintained	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Both Painting and updating interior walls — Fresh paint can improve the home's appearance and appeal to buyers ↑
• Both Landscaping and curb appeal — A well-maintained yard and curb appeal can attract more buyers and renters ↑
• Both HVAC maintenance and upgrades — A well-maintained HVAC system can improve comfort and energy efficiency ↑
• Both Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can increase the home's value and appeal to buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Charlotte County Public School District
• NCES district ID: 5100750
• Math proficiency: 51% ▼ -35.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $35,822
• Composite: 50.88/100
• National rank: #1794
• State rank: #59 of 131 in VA

Livability — Phenix

• Score: 64/100
• State rank: #360
• US rank: #14410

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment B+ Housing B+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,198

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 11,224 people
• By 2030: 10,663 · -5.0%
• By 2040: 9,445 · -15.8%
• By 2050: 8,271 · -26.3%
• By 2075: 5,985 · -46.7%
• By 2100: 3,716 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 25% Two or more races 2%
• Common ancestry: Serbian 9% Scottish 8% Lithuanian 2%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+32.5) · D 33.4% · R 66.0%
• 2008→2024 swing: -21.7pp toward R · 2008: -10.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+24.2 2016: R+22.9 2012: R+13.7 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.64%
• Current HPI: 112.888
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

1 event — show timeline

• 2026-06-05 Listed $1,999,000 LMLS