123 Drew St · Chase City, VA 23924

$75,000

4 bd · 1.0 ba · 2,328 sqft · SingleFamily public records · 107 Days on market

Built 1945 Fair condition 1.02 ac lot $32/sqft · 53% below area ↓ 18% since listing

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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 +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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 106 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $794 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 6.2% 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.
• Zoned schools: Chase City Elementary (math 47% / reading 57%, grade C-, #696 of 1,108 statewide, top 66%, 387 students, 89% FRL); Bluestone Middle (math 57% / reading 77%); Bluestone High (math 67% / reading 77%) — zoned schools average 89% FRL vs 54% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 61 active listings in the ZIP; lower-income renter base — watch delinquency; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($519 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($68k) 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 $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.11% ✓
• Cap rate: 18.99%
• Cash-on-cash: 45.34%
• DSCR: 3.02
• GRM: 4.0

CMA / ARV

• ARV (median comp): $159,761
• List price: $75,000
• Delta: -53.05%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Roark St	0.37mi	3/2.5 (-1)	2,448 (+5%)	1mo	$125,000	$51	62
614 Walker St	0.22mi	3/2.5 (-1)	2,123 (-9%)	5mo	$140,000	$66	60
516 Berry St	0.38mi	3/2.0 (-1)	2,182 (-6%)	13mo	$199,900	$92	52
508 Berry St	0.39mi	3/2.5 (-1)	2,224 (-4%)	19mo	$229,000	$103	48
137 W Academy Ln	0.96mi	3/2.0 (-1)	2,544 (+9%)	2mo	$235,000	$92	39

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: 49.3%
• Equity multiple: 3.66×
• Total profit: $55,816
• Equity at exit: $29,743

10-year hold

• IRR: 50.0%
• Equity multiple: 7.32×
• Total profit: $132,706
• Equity at exit: $42,953

Cash invested: $21,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 2 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $230,000 ($96/sqft)
• Median days on market: 37 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -28.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 23924

• Home prices YoY: 1.3%
• Active inventory: 61
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,579 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$30 /mo · $354/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $794

Break-even live

Break-even rent $575

Max offer price $75,000

Occupancy floor 45%

Sensitivity live

Price	-10% $836	-5% $815	+0% $794	+5% $772	+10% $751
Rent	-10% $669	-5% $731	+0% $794	+5% $856	+10% $918
Rate	-1.0pp $831	-0.5pp $813	base $794	+0.5pp $774	+1.0pp $754

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: $18,750
• Closing costs: $2,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Listing broker: LPT Realty, LLC
• Financial info: Financial tax details withheld from summary
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water
• Home design: Single-story designAbove-grade finished living area reported (value provided)Facing direction not provided
• Construction: Built (actual year not specified)Concrete and vinyl siding constructionComposition roof
• Exterior features: Approximately 1.02 acresZoned R2

Interior

• Kitchen: No appliance details provided
• Bedrooms: Four bedrooms (all on the first level)
• Flooring: No flooring details provided
• Bathrooms: One full bathroom (first level)Two additional full bathrooms (one on first level, one on second level) — tubs with showers
• Heating & cooling: Electric heatingWindow cooling units
• Interior features: Resale condition
• Laundry & utility: No laundry or utility room details provided

Listing history 50 events

1. 2026-09-11
   days on market $75,000 Active 107 DOM
2. 2026-09-05
   days on market $75,000 Active 101 DOM
3. 2026-09-04
   days on market $75,000 Active 100 DOM
4. 2026-09-03
   days on market $75,000 Active 99 DOM
5. 2026-08-31
   days on market $75,000 Active 96 DOM
6. 2026-08-30
   days on market $75,000 Active 95 DOM
7. 2026-08-29
   days on market $75,000 Active 94 DOM
8. 2026-08-28
   days on market $75,000 Active 93 DOM
9. 2026-08-27
   days on market $75,000 Active 92 DOM
10. 2026-08-26
    days on market $75,000 Active 91 DOM
11. 2026-08-25
    days on market $75,000 Active 90 DOM
12. 2026-08-24
    days on market $75,000 Active 89 DOM
13. 2026-08-23
    days on market $75,000 Active 88 DOM
14. 2026-08-22
    days on market $75,000 Active 87 DOM
15. 2026-08-21
    days on market $75,000 Active 86 DOM
16. 2026-08-20
    days on market $75,000 Active 85 DOM
17. 2026-08-19
    days on market $75,000 Active 84 DOM
18. 2026-08-18
    days on market $75,000 Active 83 DOM
19. 2026-08-17
    days on market $75,000 Active 82 DOM
20. 2026-08-16
    days on market $75,000 Active 81 DOM
21. 2026-08-15
    days on market $75,000 Active 80 DOM
22. 2026-08-14
    days on market $75,000 Active 79 DOM
23. 2026-08-13
    days on market $75,000 Active 78 DOM
24. 2026-08-12
    days on market $75,000 Active 77 DOM
25. 2026-08-11
    days on market $75,000 Active 76 DOM
26. 2026-08-10
    days on market $75,000 Active 75 DOM
27. 2026-08-09
    days on market $75,000 Active 74 DOM
28. 2026-08-08
    days on market $75,000 Active 73 DOM
29. 2026-08-07
    days on market $75,000 Active 72 DOM
30. 2026-08-06
    days on market $75,000 Active 71 DOM
31. 2026-08-05
    days on market $75,000 Active 70 DOM
32. 2026-08-04
    days on market $75,000 Active 69 DOM
33. 2026-08-03
    pricedays on market $75,000 Active 68 DOM
34. 2026-07-31
    days on market $82,000 Active 65 DOM
35. 2026-07-30
    days on market $82,000 Active 64 DOM
36. 2026-07-29
    days on market $82,000 Active 63 DOM
37. 2026-07-27
    days on market $82,000 Active 61 DOM
38. 2026-07-25
    days on market $82,000 Active 59 DOM
39. 2026-07-24
    days on market $82,000 Active 58 DOM
40. 2026-07-23
    days on market $82,000 Active 57 DOM
41. 2026-07-22
    days on market $82,000 Active 56 DOM
42. 2026-07-21
    days on market $82,000 Active 55 DOM
43. 2026-07-18
    days on market $82,000 Active 52 DOM
44. 2026-07-16
    days on market $82,000 Active 50 DOM
45. 2026-07-16
    days on market $82,000 Active 49 DOM
46. 2026-07-14
    days on market $82,000 Active 48 DOM
47. 2026-07-14
    days on market $82,000 Active 47 DOM
48. 2026-07-12
    days on market $82,000 Active 46 DOM
49. 2026-07-11
    days on market $82,000 Active 45 DOM
50. 2026-07-10
    days on market $82,000 Active 44 DOM

ⓘ 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: $615 · $51/mo
• Expected delta: +$261/yr (+$22/mo · 73.6%)

ⓘ 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 1/10 Low
• 🌡 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: $18,951
• − Mortgage interest: −$4,201
• − Property taxes: −$354
• − Insurance: −$375
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$2,182
• Taxable income: $8,806
• Est. tax owed @ 24.0%: −$2,114
• After-tax cash flow: $7,409/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 · 3 photos

Fair 45/100 Moderate rehab Est. rehab $58,200–$104,760 screening

This property requires significant exterior repairs and maintenance, including painting, siding repair, and landscaping. It presents an opportunity for an investor to renovate and increase its value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.
• Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Repairs flagged

• Major siding — The siding appears to be peeling and in poor condition.
• Major paint — The exterior paint is chipped and peeling.
• Major landscaping — The landscaping is overgrown and needs trimming.

Value-add opportunities

• Both landscaping — A well-maintained landscape can enhance curb appeal and property value. ↑
• Both painting — Fresh paint can improve the home's appearance and increase its value. ↑
• Both siding repair — Repairing the siding will improve the home's appearance and increase its value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Chase City Elementary C- VA #696/1,108 Nat'l #11,263/41,679 Middle Bluestone Middle High Bluestone High

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

B Composite livability gradescore 70/100

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
• County: Mecklenburg · 28,332 people
• Population (ZIP): 5,709
• Household income: $43,614
• Rent vs Own: 26.1% rent · 73.9% own

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Listing broker: LPT Realty, LLC
• Financial info: Financial tax details withheld from summary
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water
• Home design: Single-story designAbove-grade finished living area reported (value provided)Facing direction not provided
• Construction: Built (actual year not specified)Concrete and vinyl siding constructionComposition roof
• Exterior features: Approximately 1.02 acresZoned R2

Interior

• Kitchen: No appliance details provided
• Bedrooms: Four bedrooms (all on the first level)
• Flooring: No flooring details provided
• Bathrooms: One full bathroom (first level)Two additional full bathrooms (one on first level, one on second level) — tubs with showers
• Heating & cooling: Electric heatingWindow cooling units
• Interior features: Resale condition
• Laundry & utility: No laundry or utility room details provided

Price history

-18.0% since first listed

3 events — show timeline

• 2026-06-25 Price Changed $82,000 CVRMLS
• 2026-06-15 Price Changed $89,900 CVRMLS
• 2026-05-27 Listed $99,950 CVRMLS

Property tax history

+2.7%/yr

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