123 Drew St · Chase City, VA 23924

$89,900

4 bd · 1.0 ba · 2,328 sqft · SingleFamily public records · 22 Days on market

Built 1945 1.02 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

It’s ideal for investors or buyers looking for a fixer-upper project. Needs some TLC. cash or renovation loan only. Two additional rooms upstairs are that are partially finished. Could be additional Bed and Bath. Buyer responsibility to assure correct total sq footage.

Key facts

• 1.02 acre lot
• Built 1945
• Listed 22 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-story home; Resale property
• Construction: Concrete and vinyl siding exterior; Composition roof
• Exterior features: Approximately 1.02-acre lot; Zoned R2

Interior

• Bathrooms: Three full bathrooms; One full bathroom on the second level with tub & shower; One full bathroom on the first level with tub & shower
• Heating & cooling: Electric heating; Window-unit cooling
• Interior features: Total of 11 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $872 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 7.3% in Chase City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#238 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($622 loan paydown + $2k appreciation (2.0% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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 $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
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: 1.99% ✓
• Cap rate: 17.93%
• Cash-on-cash: 41.56%
• DSCR: 2.85
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $211,848
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Walker St	0.22mi	3/2.5 (-1)	2,123 (-9%)	2mo	$140,000	$66	62
508 Berry St	0.39mi	3/2.5 (-1)	2,224 (-4%)	16mo	$229,000	$103	50
549 Boyd St	0.63mi	5/2.0 (+1)	2,632 (+13%)	23mo	$239,000	$91	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.6%
• Equity multiple: 3.46×
• Total profit: $61,839
• Equity at exit: $35,651

10-year hold

• IRR: 46.3%
• Equity multiple: 6.88×
• Total profit: $148,120
• Equity at exit: $51,487

Cash invested: $25,172 (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 23924

• Home prices YoY: 1.3%
• Active inventory: 41
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,785 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$30 /mo · $354/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $872

Break-even live

Break-even rent $682

Max offer price $89,900

Occupancy floor 46%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $89,900 Active 22 DOM
2. 2026-06-17
   days on market $89,900 Active 21 DOM
3. 2026-06-16
   days on market $89,900 Active 20 DOM
4. 2026-06-15
   remarks 269-char remark
5. 2026-06-15
   price $89,900 Active 19 DOM
6. 2026-06-15
   days on market $99,950 Active 19 DOM
7. 2026-06-14
   days on market $99,950 Active 17 DOM
8. 2026-06-13
   days on market $99,950 Active 16 DOM
9. 2026-06-10
   days on market $99,950 Active 14 DOM
10. 2026-06-09
    days on market $99,950 Active 13 DOM
11. 2026-06-08
    days on market $99,950 Active 12 DOM
12. 2026-06-07
    days on market $99,950 Active 11 DOM
13. 2026-06-05
    days on market $99,950 Active 8 DOM
14. 2026-06-03
    days on market $99,950 Active 7 DOM
15. 2026-06-02
    days on market $99,950 Active 6 DOM
16. 2026-06-01
    days on market $99,950 Active 5 DOM
17. 2026-05-31
    days on market $99,950 Active 4 DOM
18. 2026-05-31
    days on market $99,950 Active 3 DOM
19. 2026-05-27
    listed $99,950 Active

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

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $354 · $30/mo
• Projected year-2 tax: $737 · $61/mo
• Expected delta: +$383/yr (+$32/mo · 108.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $21,419
• − Mortgage interest: −$5,036
• − Property taxes: −$354
• − Insurance: −$450
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$2,615
• Taxable income: $9,537
• Est. tax owed @ 24.0%: −$2,289
• After-tax cash flow: $8,171/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.

Schools (NCES district)

• District: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Chase City

• Score: 70/100
• State rank: #238
• US rank: #8038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chase City, VA
• Population (ZIP): 5,709

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.04%
• Current HPI: 155.5959
• 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

• 2026-05-27 Listed $99,950 CVRMLS

Property tax history

+2.7%/yr

Latest (2025): $354 · +0.0% YoY. Source: county tax records.