390 Park St · Urbanna, VA 23175

$275,000

2 bd · 2.5 ba · 1,281 sqft · SingleFamily public records · 15 Days on market

Built 1924 Est $275k · at est.

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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 +18.4/30.0
• ARV discount +7.6/15.0
• Appreciation +6.8/10.0
• DSCR +5.8/10.0
• Schools +4.5/10.0
• 1% rule +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

Key facts

• Close to restaurants
• New appliances
• Move in ready

Tags

• MOVE IN READY
• REPLACEMENT WINDOWS
• NEW APPLIANCES
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Finance

• HOA & community: No HOA fees (N/A)

Exterior

• Parking: Off-street parking
• Utilities: City/County water; City/County sewer; Electric power
• Home design: Detached property; Cottage/Ranch style; One story; Crawl foundation; Fronts to PARK PLACE neighborhood
• Construction: Asphalt shingle and metal roof
• Exterior features: Fiber cement siding

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: First-floor master bedroom
• Flooring: Ceramic flooring; Wood flooring
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating; Heat pump; Geothermal cooling
• Interior features: Pull-down attic stairs; Screened porch; Porch
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/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 $240k (12.7% below list).
• Recommended offer: $240k (12.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#482 in VA) — a working-class tenant base; expect higher turnover. Strengths: housing A-, crime B, cost of living B; Watch: amenities F, commute F, health & safety F.
• Middlesex County Public School District (rural): math 45% / reading 59% proficiency, ranked #90 of 131 in VA (top 69%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Middlesex Elementary (math 40% / reading 53%, grade D-, #817 of 1,108 statewide, top 74%, 611 students, 97% FRL); Middlesex High (math 92% / reading 82%, grade A, #16 of 319 statewide, top 5%, 346 students, 99% FRL) — zoned schools average 98% FRL vs 44% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 67% at this address vs 52% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Middlesex County Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 29 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 97 units permitted in Middlesex County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (3.6% local appreciation)).
• Middlesex County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,000 (12.7% below list)

Questions for the listing agent

1. Built in 1924 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.87% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $275,415
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
390 Park St	0.00mi	2/2.5	1,281 (0%)	0mo	$275,000	$215	100
214 Linden Ave	0.14mi	3/1.5 (+1)	1,368 (+7%)	15mo	$245,000	$179	60
380 Park St	0.01mi	3/1.5 (+1)	1,128 (-12%)	19mo	$325,000	$288	55
370 Chandler Ave	0.52mi	3/2.0 (+1)	1,232 (-4%)	14mo	$370,000	$300	51
275 Waverly Rd	0.35mi	3/1.0 (+1)	1,125 (-12%)	3mo	$225,000	$200	50

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

Projected returns pro-forma

3.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.76×
• Total profit: $58,355
• Equity at exit: $133,322

10-year hold

• IRR: 14.4%
• Equity multiple: 3.26×
• Total profit: $173,858
• Equity at exit: $213,323

Cash invested: $77,000 (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 23175

• Home prices YoY: 1.3%
• Active inventory: 29
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $255

Break-even live

Break-even rent $2,077

Max offer price $275,000

Occupancy floor 84%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Cross St Unit B Urbanna, VA	2.0	2.0	1517	$2,400	$1.58	43d	1	0.31mi

Listing history 14 events

1. 2026-05-08
   status Under Contract

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

2. 2026-05-08
   status Pending 325-char remark

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

3. 2026-04-29
   status Pending 325-char remark

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

4. 2026-04-29
   historical Active Under Contract

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

5. 2026-04-29
   historical Active Under Contract 325-char remark

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

6. 2026-04-23
   listed $275,000 Active 325-char remark

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

7. 2026-04-23
   listed $275,000 Active

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

8. 2026-04-23
   listed $275,000 Active 325-char remark

   Show marketing remark (325 chars)

   Welcome to Urbanna! This 2 bedroom 2.5 bathroom cottage featuring many updates to include the roof, fresh paint, replacement windows, and new appliances to make this a truly move in ready home. One block away from shopping and restaurants makes sure you are close to all the excitement of the famous Urbanna oyster festival.

9. 2025-09-30
   soldstatus $260,500 Closed
10. 2025-08-15
    status Pending
11. 2025-08-09
    listed $258,000 Active
12. 2025-08-08
    price $258,000
13. 2025-08-08
    historical $256,000
14. 2007-06-18
    soldstatus $127,500

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$1,247/yr (+$104/mo · 123.8%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $28,800
• − Mortgage interest: −$15,404
• − Property taxes: −$1,008
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$8,000
• Taxable loss: −$1,595
• Est. tax savings @ 24.0%: +$383
• After-tax cash flow: $3,447/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: Middlesex County Public School District
• NCES district ID: 5102490
• Math proficiency: 45% ▼ -35.00%
• Reading proficiency: 59% ▼ -11.00%
• Median HH income: $51,986
• Composite: 44.58/100
• National rank: #2783
• State rank: #90 of 131 in VA

Livability — Urbanna

• Score: 58/100
• State rank: #482
• US rank: #20998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Urbanna, VA
• Population (ZIP): 1,750

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 9,829 people
• By 2030: 9,340 · -5.0%
• By 2040: 8,411 · -14.4%
• By 2050: 7,795 · -20.7%
• By 2075: 7,471 · -24.0%
• By 2100: 7,049 · -28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 19% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Asian/Pacific 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Middlesex

• 2024 margin: Strong R (+27.4) · D 35.9% · R 63.3%
• 2008→2024 swing: -8.2pp toward R · 2008: -19.2pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+25.1 2016: R+26.0 2012: R+20.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.62%
• Current HPI: 287.8475
• 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

+115.7% since first listed

14 events — show timeline

• 2026-05-08 Pending — REINMLS
• 2026-05-08 Pending — WMLS
• 2026-04-29 Pending — CBRAR
• 2026-04-29 Contingent — REINMLS
• 2026-04-29 Contingent — WMLS
• 2026-04-23 Listed $275,000 CBRAR
• 2026-04-23 Listed $275,000 WMLS
• 2026-04-23 Listed $275,000 REINMLS
• 2025-09-30 Sold (MLS) $260,500 CBRAR
• 2025-08-15 Pending — CBRAR
• 2025-08-09 Listed $258,000 CBRAR
• 2025-08-08 Price Changed $258,000 CBRAR
• 2025-08-08 Coming Soon $256,000 CBRAR
• 2007-06-18 Sold (Public Records) $127,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,008 · +0.0% YoY. Source: county tax records.