324 Hunt Ave · Richmond, VA 23222

$125,000

2 bd · 1.0 ba · 702 sqft · SingleFamily public records · 14 Days on market

Built 1923 4,051 sqft lot $178/sqft · 45% below area Est $228k · 45% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

Key facts

• 4,051 sq ft lot
• Built 1923
• Listed 14 days

Property features AI

Exterior

• Parking: Alley access; No garage; Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; R-5 zoning
• Construction: Frame construction with drywall and vinyl siding; Flat, metal and shingle roof
• Exterior features: Front porch; Porch

Interior

• Kitchen: Stove; Eat-in kitchen
• Bedrooms: Bedroom located on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom with tub and shower
• Heating & cooling: Heat pump heating and cooling; Electric heating; Central air
• Interior features: Thermal windows; Insulated doors; Ceiling fan(s); Eat-in kitchen; Bedroom on main level
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 9.5% 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.
• Market conditions: Rents rising fast (+7.4%/yr); 179 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 + 7.4% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 21y 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.
• Current owner paid $33k; list at $125k implies a 279% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $125,000

Questions for the listing agent

1. Built in 1923 — 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 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?
4. 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?
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: 1.14% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (median comp): $227,632
• List price: $125,000
• Delta: -45.09%
• 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
324 Hunt Ave	0.00mi	2/1.0	702 (0%)	0mo	$114,000	$162	100
611 Milton St	0.37mi	2/1.0	720 (+3%)	1mo	$155,000	$215	78
506 Hunt Ave	0.24mi	2/1.0	679 (-3%)	12mo	$150,000	$221	73
3607 Edgeton Cir	0.33mi	2/1.0	720 (+3%)	13mo	$170,501	$237	70
3507 Meadowbridge Rd	0.34mi	2/1.0	686 (-2%)	13mo	$245,000	$357	69
3511 Meadowbridge Rd	0.34mi	2/1.0	680 (-3%)	14mo	$202,000	$297	68
3606 Meadowbridge Rd	0.30mi	2/1.0	679 (-3%)	15mo	$172,500	$254	68
105 E Laburnum Ave	0.35mi	2/1.0	768 (+9%)	2mo	$160,000	$208	66
107 E Laburnum Ave	0.35mi	2/1.0	768 (+9%)	3mo	$190,000	$247	66
411 Patrick Ave	0.11mi	2/1.0	630 (-10%)	17mo	$235,000	$373	64
416 Milton St	0.16mi	2/1.0	807 (+15%)	24mo	$150,000	$186	48
210 W Laburnum Ave	0.61mi	2/1.0	804 (+14%)	9mo	$150,000	$187	40

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 · 7.43% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.21×
• Total profit: $7,330
• Equity at exit: $18,638

10-year hold

• IRR: 18.1%
• Equity multiple: 2.80×
• Total profit: $63,087
• Equity at exit: $10,808

Cash invested: $35,000 (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 23222

• Rents YoY: 7.4%
• Active inventory: 179
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$656
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $330

Break-even live

Break-even rent $1,005

Max offer price $125,000

Occupancy floor 72%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	2d	1	0.24mi
106 Trafton St Richmond, VA	2.0	1.0	720	$1,600	$2.22	17d	1	0.24mi
3114 Barton Ave Apt B Richmond, VA	1.0	1.0	500	$962	$1.92	19d	1	0.50mi
3813 Chamberlayne Ave Richmond, VA	1.0	1.0	625	$785	$1.26	43d	1	1.05mi
3503 Seminary Ave Richmond, VA	1.0	1.0	670	$1,100	$1.64	4d	1	1.05mi
3012 Chamberlayne Ave Unit 105 Richmond, VA	1.0	1.0	700	$895	$1.28	43d	1	1.05mi
3012 Chamberlayne Ave Unit 105 Richmond, VA	1.0	1.0	700	$895	$1.28	23d	1	1.05mi
3810 Chamberlayne Ave Unit G Richmond, VA	2.0	1.0	750	$1,095	$1.46	17d	1	1.12mi
3200 Brook Rd Richmond, VA	1.0–2.0	1.0–2.5	968	$2,633	$2.72	1d	20	1.21mi
3916 Chamberlayne Ave Unit 4A Richmond, VA	1.0	1.0	580	$969	$1.67	23d	1	1.28mi
3916 Chamberlayne Ave Unit 4A Richmond, VA	1.0	1.0	580	$969	$1.67	19d	1	1.28mi
2000 Lamb Ave Apt C Richmond, VA	2.0	1.0	750	$1,295	$1.73	43d	1	1.44mi

Listing history 23 events

1. 2026-05-15
   listed $125,000 Active 535-char remark
2. 2017-08-14
   soldstatus $33,000
3. 2017-08-08
   soldstatus $33,000 Closed 235-char remark

   Show marketing remark (235 chars)

   Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

4. 2017-07-07
   status Pending 235-char remark

   Show marketing remark (235 chars)

   Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

5. 2017-06-29
   status Active 235-char remark

   Show marketing remark (235 chars)

   Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

6. 2017-06-15
   status Pending 235-char remark

   Show marketing remark (235 chars)

   Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

7. 2017-06-12
   listed $45,000 Active 235-char remark

   Show marketing remark (235 chars)

   Investor's special! This home is waiting for an investor to bring it back to life as a cash-flowing rental or potential renovation. Located near bus lines and minutes from interstate in Richmond's North Side. House is being sold as-is.

8. 2009-09-22
   historical
9. 2009-09-22
   historical
10. 2009-09-22
    historical
11. 2008-01-23
    historical
12. 2007-06-26
    listed $79,900
13. 2007-06-26
    listed $79,900
14. 2007-05-31
    historical
15. 2007-01-26
    listed $88,000
16. 2007-01-26
    listed $88,000
17. 2006-12-31
    historical
18. 2006-05-17
    listed $90,000
19. 2006-05-17
    listed $90,000
20. 2005-11-28
    soldstatus $22,000
21. 2005-11-28
    soldstatus $22,000
22. 2005-10-28
    listed $25,900
23. 2005-10-28
    listed $25,900

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,032 · $86/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,060
• − Mortgage interest: −$7,002
• − Property taxes: −$1,032
• − Insurance: −$625
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$3,636
• Taxable income: $2,035
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $3,466/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: Richmond City · 178,280 people
• City population: 287,109
• Metro: Richmond, VA
• Population (ZIP): 26,322
• Household income: $61,345
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1325.0

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 (70%)
• Race & ethnicity: Black 70% White 21% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 2% 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: ▼ -288.72%
• Current HPI: 428.4029
• Rent YoY: ▲ 7.43%
• 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

+382.6% since first listed

24 events — show timeline

• 2026-05-29 Pending — CVRMLS
• 2026-05-15 Listed $125,000 CVRMLS
• 2017-08-14 Sold (Public Records) $33,000 Public Records
• 2017-08-08 Sold (MLS) $33,000 CVRMLS
• 2017-07-07 Pending — CVRMLS
• 2017-06-29 Relisted — CVRMLS
• 2017-06-15 Pending — CVRMLS
• 2017-06-12 Listed $45,000 CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2009-09-22 Listing Removed — CVRMLS
• 2008-01-23 Listing Removed — CVRMLS
• 2007-06-26 Listed $79,900 CVRMLS
• 2007-06-26 Listed $79,900 CVRMLS
• 2007-05-31 Listing Removed — CVRMLS
• 2007-01-26 Listed $88,000 CVRMLS
• 2007-01-26 Listed $88,000 CVRMLS
• 2006-12-31 Listing Removed — CVRMLS
• 2006-05-17 Listed $90,000 CVRMLS
• 2006-05-17 Listed $90,000 CVRMLS
• 2005-11-28 Sold (MLS) $22,000 CVRMLS
• 2005-11-28 Sold (MLS) $22,000 CVRMLS
• 2005-10-28 Listed $25,900 CVRMLS
• 2005-10-28 Listed $25,900 CVRMLS

Property tax history

+1.4%/yr

Latest (2022): $1,032 · -8.9% YoY. Source: county tax records.