239 N Linden · Highland Springs, VA 23075

$199,900

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 66 Days on market

Built 1971 $202/sqft · 24% below area Est $263k · 24% under

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Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +4.9/10.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this quiet, peaceful neighborhood in the heart of Highland Springs. This 3 bed 1 bath home is being sold "AS-IS" It has it's own driveway and a fully fenced in back yard. Currently being used as a RENTAL. Perfect chance to pick up a rental investment property or a fix and flip. Tenant in place with lease ending November 30, 2026. 48 hours notice required to show property. Roof-2018, HVAC-2025, Water heater-2021, Windows-2018

Key facts

• Hvac 2025
• Own driveway
• Roof 2018

Tags

• OWN DRIVEWAY
• FULLY FENCED BACK YARD
• RENTAL INVESTMENT PROPERTY
• ROOF 2018
• HVAC 2025
• WATER HEATER 2021

🏷️ Possibly a rental listed for sale. The $199,900 price doesn't fit this home's estimated sale value (~$263,397) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (11.7% below list).
• Recommended offer: $177k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.1% in Highland Springs — 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 72/100 on livability (#196 in VA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, amenities F, health & safety F.
• Henrico County Public School District (suburban): math 49% / reading 64% proficiency, ranked #68 of 131 in VA (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 63 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,826 units permitted in Henrico County in 2024 (785 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Henrico County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $116k; list at $200k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,597 (11.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $263,397
• List price: $199,900
• Delta: -24.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 N Kalmia Ave	0.13mi	3/1.0	1,084 (+10%)	0mo	$180,700	$167	78
118 N Linden Ave	0.28mi	3/1.5	1,040 (+5%)	2mo	$266,400	$256	75
16 N Juniper Ave	0.44mi	2/1.0 (-1)	980 (-1%)	1mo	$241,000	$246	72
115 N Elm Ave	0.48mi	3/1.0	1,024 (+3%)	2mo	$265,000	$259	70
127 N Cedar Ave	0.52mi	3/1.0	960 (-3%)	1mo	$265,000	$276	70
214 N Pine Ave	0.22mi	3/1.0	858 (-13%)	1mo	$217,000	$253	67
204 N Grove Ave	0.34mi	3/1.5	1,081 (+9%)	0mo	$215,000	$199	66
125 N Ash Ave	0.62mi	3/1.0	955 (-4%)	1mo	$255,000	$267	65
213 N Elm Ave	0.40mi	3/1.0	1,076 (+9%)	2mo	$261,000	$243	65
10 W Washington St	0.30mi	3/1.5	1,120 (+13%)	2mo	$249,950	$223	61
22 S Grove Ave	0.70mi	3/1.0	960 (-3%)	3mo	$212,000	$221	59
212 N Ash Ave	0.60mi	3/2.0	1,038 (+5%)	4mo	$255,000	$246	57

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

Projected returns pro-forma

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

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-24,676
• Equity at exit: $29,806

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-11,662
• Equity at exit: $17,284

Cash invested: $55,972 (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 23075

• Home prices YoY: -13.6%
• Active inventory: 63
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$142 /mo · $1,701/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $122

Break-even live

Break-even rent $1,612

Max offer price $199,900

Occupancy floor 88%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
239 N Mapleleaf Ave Henrico, VA	3.0	1.0	980	$1,750	$1.79	23d	1	0.07mi
118 N Linden Ave Henrico, VA	3.0	1.5	1080	$1,795	$1.66	43d	1	0.27mi
117 N Ivy Ave Henrico, VA	3.0	1.0	980	$1,590	$1.62	2d	1	0.29mi
1000 E Washington St Henrico, VA	2.0	1.0	888	$2,000	$2.25	2d	1	0.39mi
132 N Elm Ave Henrico, VA	3.0	1.0	840	$1,629	$1.94	43d	1	0.44mi
901 E 9 Mile Rd Unit a Highland Springs, VA	2.0	1.0	800	$1,312	$1.64	21d	1	0.58mi
1005 W Nine Mile Rd Unit J Henrico, VA	2.0	1.0	783	$1,395	$1.78	23d	1	0.97mi
419 Roxana Rd Henrico, VA	3.0	1.5	1085	$2,050	$1.89	2d	1	0.98mi
1005 W Nine Mile Rd Henrico, VA	2.0	1.0	783	$1,345	$1.72	43d	1	0.98mi
5951 Tiger Lily Ln Richmond, VA	2.0–3.0	2.0	1080	$1,592	$1.47	1d	12	1.37mi
120 Barker Ave Richmond, VA	3.0	1.0	1064	$1,597	$1.50	2d	1	1.38mi

Listing history 5 events

1. 2026-05-02
   status Pending 449-char remark

   Show marketing remark (449 chars)

   Welcome to this quiet, peaceful neighborhood in the heart of Highland Springs. This 3 bed 1 bath home is being sold "AS-IS" It has it's own driveway and a fully fenced in back yard. Currently being used as a RENTAL. Perfect chance to pick up a rental investment property or a fix and flip. Tenant in place with lease ending November 30, 2026. 48 hours notice required to show property. Roof-2018, HVAC-2025, Water heater-2021, Windows-2018

2. 2026-02-26
   status Active 449-char remark

   Show marketing remark (449 chars)

   Welcome to this quiet, peaceful neighborhood in the heart of Highland Springs. This 3 bed 1 bath home is being sold "AS-IS" It has it's own driveway and a fully fenced in back yard. Currently being used as a RENTAL. Perfect chance to pick up a rental investment property or a fix and flip. Tenant in place with lease ending November 30, 2026. 48 hours notice required to show property. Roof-2018, HVAC-2025, Water heater-2021, Windows-2018

3. 2026-02-21
   status Pending 449-char remark

   Show marketing remark (449 chars)

   Welcome to this quiet, peaceful neighborhood in the heart of Highland Springs. This 3 bed 1 bath home is being sold "AS-IS" It has it's own driveway and a fully fenced in back yard. Currently being used as a RENTAL. Perfect chance to pick up a rental investment property or a fix and flip. Tenant in place with lease ending November 30, 2026. 48 hours notice required to show property. Roof-2018, HVAC-2025, Water heater-2021, Windows-2018

4. 2026-02-19
   listed $199,900 Active 449-char remark

   Show marketing remark (449 chars)

   Welcome to this quiet, peaceful neighborhood in the heart of Highland Springs. This 3 bed 1 bath home is being sold "AS-IS" It has it's own driveway and a fully fenced in back yard. Currently being used as a RENTAL. Perfect chance to pick up a rental investment property or a fix and flip. Tenant in place with lease ending November 30, 2026. 48 hours notice required to show property. Roof-2018, HVAC-2025, Water heater-2021, Windows-2018

5. 2020-06-10
   soldstatus $115,600

ⓘ 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: $1,701 · $142/mo
• Projected year-2 tax: $1,701 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,192
• − Mortgage interest: −$11,198
• − Property taxes: −$1,701
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$5,815
• Taxable loss: −$1,912
• Est. tax savings @ 24.0%: +$459
• After-tax cash flow: $1,920/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: Henrico County Public School District
• NCES district ID: 5101890
• Math proficiency: 49% ▼ -32.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $61,854
• Composite: 49.25/100
• National rank: #2031
• State rank: #68 of 131 in VA

Livability — Highland Springs

• Score: 72/100
• State rank: #196
• US rank: #6085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Springs, VA
• County: Henrico County · 334,490 people
• City population: 8,347
• Metro: Richmond, VA
• Population (ZIP): 8,347
• Household income: $55,567
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 283.0

Population outlook (Henrico County) Hauer SSP2

• Today (2025): 365,885 people
• By 2030: 384,255 · +5.0%
• By 2040: 416,688 · +13.9%
• By 2050: 442,376 · +20.9%
• By 2075: 488,037 · +33.4%
• By 2100: 487,430 · +33.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 29% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Lithuanian 1% Romanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · Henrico

• 2024 margin: Strong D (+28.9) · D 63.7% · R 34.8% · Other 1.5%
• 2008→2024 swing: +16.6pp toward D · 2008: 12.2pp · 2024: 28.9pp
• All cycles: 2024: D+28.9 2020: D+29.0 2016: D+21.0 2012: D+11.7 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.15%
• Current HPI: 458.732
• Rent YoY: —
• Metro: Richmond, VA
• 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

+72.9% since first listed

5 events — show timeline

• 2026-05-02 Pending — CVRMLS
• 2026-02-26 Relisted — CVRMLS
• 2026-02-21 Pending — CVRMLS
• 2026-02-19 Listed $199,900 CVRMLS
• 2020-06-10 Sold (Public Records) $115,600 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,701 · +8.1% YoY. Source: county tax records.