904 N 29th St · Richmond, VA 23223

$150,000

4 bd · 2.5 ba · 1,472 sqft · SingleFamily public records · 1 Days on market

Built 1982

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

Key facts

• Built 1982

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.2% vs local median 3.3% in Richmond — 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 84/100 on livability (#33 in VA, #793 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime D-.
• Richmond City Public School District (urban): math 32% / reading 47% proficiency, ranked #123 of 131 in VA (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodville Elementary (math 30% / reading 30%, grade F, #1,008 of 1,108 statewide, top 91%, 267 students, 98% FRL); Armstrong High (math 12% / reading 54%, grade F, #316 of 319 statewide, top 99%, 747 students, 90% FRL) — zoned schools average 94% FRL vs 74% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.4%/yr); 337 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• At $2,197/mo this rent would consume 47% of the median local household income ($56k/yr) (locally 3530% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Richmond County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y ago 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.

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 $150,000

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: 1.46% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $363,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3316 Q St	0.32mi	3/2.5 (-1)	1,564 (+6%)	0mo	$365,000	$233	69
2012 Venable St	0.59mi	3/2.5 (-1)	1,472 (0%)	0mo	$410,000	$279	67
1109 N 20th St	0.56mi	3/3.0 (-1)	1,477 (+0%)	1mo	$335,000	$227	65
510 N 28th St	0.31mi	3/2.5 (-1)	1,320 (-10%)	0mo	$435,000	$330	63
1311 N 22nd St	0.51mi	4/2.5	1,584 (+8%)	1mo	$329,900	$208	62
1313 N 31st St	0.33mi	3/2.5 (-1)	1,624 (+10%)	0mo	$390,000	$240	62
606 N 37th St	0.56mi	3/2.0 (-1)	1,433 (-3%)	2mo	$370,000	$258	61
615 N 38th St	0.63mi	3/1.0 (-1)	1,484 (+1%)	1mo	$365,000	$246	57
615 N 37th St	0.57mi	3/1.0 (-1)	1,518 (+3%)	1mo	$375,000	$247	57
1319 N 28th St	0.30mi	3/2.5 (-1)	1,682 (+14%)	1mo	$420,000	$250	57
517 N 33rd St	0.41mi	3/2.5 (-1)	1,658 (+13%)	1mo	$680,000	$410	54
1110 N 23rd St	0.41mi	3/2.5 (-1)	1,670 (+14%)	0mo	$382,500	$229	53

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 · 6.38% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.54×
• Total profit: $22,730
• Equity at exit: $22,365

10-year hold

• IRR: 24.5%
• Equity multiple: 3.49×
• Total profit: $104,633
• Equity at exit: $12,969

Cash invested: $42,000 (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 23223

• Rents YoY: 6.4%
• Active inventory: 337
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$787
• Tax from tax record: −$271 /mo · $3,252/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $616

Break-even live

Break-even rent $1,418

Max offer price $150,000

Occupancy floor 67%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 N 27th St Apt 1 Richmond, VA	4.0	1.0	1240	$2,000	$1.61	16d	1	0.11mi
2820 Q St Richmond, VA	3.0	2.0	1523	$2,195	$1.44	4d	1	0.12mi
1107 N 27th St Richmond, VA	3.0	3.5	1792	$2,600	$1.45	4d	1	0.18mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	16d	1	0.28mi
811 N 33rd St Unit A Richmond, VA	3.0	2.0	1315	$1,900	$1.44	4d	1	0.28mi
3018 S St Richmond, VA	3.0	2.5	1786	$2,645	$1.48	43d	1	0.31mi
1404 N 30th St Richmond, VA	3.0	2.5	1700	$2,195	$1.29	4d	1	0.36mi
2209 Fairmount Ave Richmond, VA	3.0	2.0	1652	$2,500	$1.51	43d	1	0.48mi
1004 1/2 N 21st St Unit A Richmond, VA	3.0	2.0	1248	$2,195	$1.76	16d	1	0.52mi
1603 N 29th St Richmond, VA	3.0	1.0	950	$1,600	$1.68	4d	1	0.55mi
1427 N 22nd St Richmond, VA	3.0	2.5	1764	$2,700	$1.53	43d	1	0.59mi
2003 Cedar St Richmond, VA	3.0	2.0	1420	$2,200	$1.55	43d	1	0.60mi
1903 E Marshall St Richmond, VA	3.0	1.0–2.0	723	$1,799	$2.49	1d	57	0.72mi
1617 N 21st St Richmond, VA	3.0	1.0	1157	$1,825	$1.58	4d	1	0.73mi
2201 E Franklin St Richmond, VA	1.0–3.0	1.0–3.0	905	$2,349	$2.59	3d	7	0.77mi
2 S 25th St Richmond, VA	1.0–3.0	1.0–2.0	1050	$2,360	$2.25	2d	69	0.80mi
1901 E Franklin St Apt 5 Richmond, VA	3.0	3.0	1530	$1,850	$1.21	23d	1	0.88mi
2106 Newbourne St Richmond, VA	3.0	2.0	1172	$1,875	$1.60	43d	1	1.00mi
1614 N 19th St Richmond, VA	4.0	2.0	1584	$2,395	$1.51	4d	1	1.01mi
1400 Jennie Scher Rd Richmond, VA	2.0–3.0	1.0	900	$1,475	$1.64	43d	2	1.03mi
1806 Sussex St Richmond, VA	4.0	2.0	1197	$2,500	$2.09	43d	1	1.22mi
2852 Fairfield Ave Richmond, VA	2.0–3.0	1.0	870	$1,350	$1.55	4d	1	1.26mi
1210 Carlisle Ave Richmond, VA	3.0	1.0	912	$1,695	$1.86	4d	1	1.32mi
2423 Whitcomb St Richmond, VA	3.0	1.0	1000	$1,100	$1.10	23d	1	1.35mi
823 E Main St Richmond, VA	3.0	1.0–2.5	1178	$2,687	$2.28	1d	14	1.50mi

Listing history 17 events

1. 2026-04-21
   status Under Contract
2. 2026-04-19
   listed $150,000 Active
3. 2020-12-23
   soldstatus $255,000 Closed 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

4. 2020-09-11
   status Pending 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

5. 2020-09-05
   status Active 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

6. 2020-08-01
   price $259,900 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

7. 2020-06-22
   price $274,900 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

8. 2020-05-12
   listed $289,900 Active 443-char remark

   Show marketing remark (443 chars)

   STUNNING, JUST STUNNING. Beautiful 4 Bedroom 2 FULL BATH Tri-Level in one of Richmond's BEST and UP AND COMING subdivisions of "East Payne Square". ALL NEW KITCHEN with Granite Counter Tops, UPGRADED CABINETS, NEW FLOORING AND STAINLESS STEEL APPLIANCES. NEW BATHS WITH TILE EVERYWHERE. New Flooring and Fresh Paint! WOW! NEW 30 YEAR ROOF!! WOW AGAIN! Large and well landscaped lot with BIG BACK YARD AND BACK DECK. MOVE-IN READY.

9. 2020-02-07
   historical
10. 2020-01-23
    price $199,900
11. 2020-01-15
    listed $224,900 Active
12. 2005-04-15
    soldstatus $118,500
13. 2005-04-15
    soldstatus $118,500
14. 2004-12-14
    listed $118,000
15. 2004-12-14
    listed $118,000
16. 1987-10-20
    soldstatus $51,000
17. 1982-09-01
    soldstatus $43,000

ⓘ 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: $3,252 · $271/mo
• Projected year-2 tax: $3,252 · $271/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°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: $26,370
• − Mortgage interest: −$8,402
• − Property taxes: −$3,252
• − Insurance: −$750
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$4,364
• Taxable income: $5,382
• Est. tax owed @ 24.0%: −$1,292
• After-tax cash flow: $6,099/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: Richmond City Public School District
• NCES district ID: 5103240
• Math proficiency: 32% ▼ -24.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $40,276
• Composite: 33.09/100
• National rank: #5564
• State rank: #123 of 131 in VA

Livability — Richmond

• Score: 84/100
• State rank: #33
• US rank: #793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, VA
• County: Henrico County · 334,490 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 54,659
• Household income: $55,731
• Rent vs Own: 56.2% rent · 43.8% own
• Severe rent burden: 3530.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 262,263 people
• By 2030: 284,503 · +8.5%
• By 2040: 327,353 · +24.8%
• By 2050: 367,946 · +40.3%
• By 2075: 449,560 · +71.4%
• By 2100: 500,301 · +90.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% White 19% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Richmond

• 2024 margin: Solid D (+66.3) · D 82.0% · R 15.8% · Other 2.2%
• 2008→2024 swing: +7.2pp toward D · 2008: 59.1pp · 2024: 66.3pp
• All cycles: 2024: D+66.3 2020: D+68.0 2016: D+63.8 2012: D+55.7 2008: D+59.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -257.81%
• Current HPI: 324.0589
• Rent YoY: ▲ 6.38%
• 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

+248.8% since first listed

17 events — show timeline

• 2026-04-21 Pending — REINMLS
• 2026-04-19 Listed $150,000 REINMLS
• 2020-12-23 Sold (MLS) $255,000 CVRMLS
• 2020-09-11 Pending — CVRMLS
• 2020-09-05 Relisted — CVRMLS
• 2020-08-01 Price Changed $259,900 CVRMLS
• 2020-06-22 Price Changed $274,900 CVRMLS
• 2020-05-12 Listed $289,900 CVRMLS
• 2020-02-07 Listing Removed — CVRMLS
• 2020-01-23 Price Changed $199,900 CVRMLS
• 2020-01-15 Listed $224,900 CVRMLS
• 2005-04-15 Sold (MLS) $118,500 CVRMLS
• 2005-04-15 Sold (MLS) $118,500 CVRMLS
• 2004-12-14 Listed $118,000 CVRMLS
• 2004-12-14 Listed $118,000 CVRMLS
• 1987-10-20 Sold (Public Records) $51,000 Public Records
• 1982-09-01 Sold (Public Records) $43,000 Public Records

Property tax history

+0.6%/yr

Latest (2022): $3,252 · +25.8% YoY. Source: county tax records.