2105 Bishop St · Petersburg, VA 23805

$179,950

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 3 Days on market

Built 1956 0.26 ac lot Est $201k · 10% under

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Why this score? — see what drove the D+ 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 +15.7/30.0
• ARV discount +12.2/15.0
• DSCR +4.8/10.0
• 1% rule +3.5/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLER!!!!Charming ranch-style home offering comfortable one-level living with 3 bedrooms and 1 full bath. The inviting interior features a spacious living room with new LVP flooring and an updated kitchen complete with refreshed lower cabinets and newer countertops, providing both style and functionality. An attached storage area conveniently houses the laundry room and water heater, adding valuable extra space and utility. Outside, enjoy a fully fenced backyard perfect for entertaining, pets, or outdoor activities. This well-maintained home is ideal for first-time buyers, downsizers, or anyone seeking easy, low-maintenance​​‌​​​​‌​​‌‌​‌‌​​​‌&zw

Key facts

• 0.26 acre lot
• Built 1956
• Listed 3 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; Frame construction with vinyl siding; Shingle roof; Resale property
• Construction: Frame construction; Vinyl siding; Shingle roof
• Exterior features: Storage shed; Back yard fencing (fenced)

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms on the first floor
• Flooring: Linoleum; Partially carpeted; Vinyl
• Bathrooms: One full bathroom with tub and shower on the first floor
• Heating & cooling: Heat pump with electric heating; Central electric air conditioning
• Interior features: Crawl space basement; Linoleum, partially carpeted, and vinyl flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $78 ($933/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 $154k (14.7% below list).
• Recommended offer: $154k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.5% in Petersburg — 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 61/100 on livability (#413 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Petersburg City Public School District (suburban): math 26% / reading 44% proficiency, ranked #131 of 131 in VA (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Walnut Hill Elementary (math 27% / reading 47%, grade F, #933 of 1,108 statewide, top 86%, 515 students, 101% FRL); Vernon Johns Middle (math 21% / reading 47%, grade F, #330 of 342 statewide, top 96%, 921 students, 99% FRL); Petersburg High (math 43% / reading 62%, grade C-, #293 of 319 statewide, top 92%, 1,080 students, 97% FRL) — zoned schools average 99% FRL vs 79% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 118 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 118 units permitted in Petersburg city in 2024 (84 in 5+ unit buildings).
• This rent runs 30% of the median local income ($61k/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 $5k of value loss. Plan a longer hold.
• Petersburg County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y ago; this cycle's ask is 210% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $75k; list at $180k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 48% 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 $153,534 (14.7% below list)

Questions for the listing agent

1. Built in 1956 — 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 D-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. Crime grade is F 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $200,725
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2104 Walton St	0.24mi	3/2.0	925 (0%)	3mo	$225,000	$243	82
2105 Warren St	0.07mi	3/2.0	925 (0%)	13mo	$215,000	$232	82
2117 Colston St	0.14mi	3/1.0	925 (0%)	18mo	$150,000	$162	78
2205 Colston St	0.19mi	3/2.0	1,025 (+11%)	9mo	$240,000	$234	62
2507 Deerfield Dr	0.43mi	3/1.0	864 (-7%)	10mo	$159,400	$184	61
1837 Oakland St	0.55mi	3/1.0	900 (-3%)	13mo	$160,000	$178	59
545 Lock Ln	0.50mi	3/1.0	988 (+7%)	9mo	$260,000	$263	58
2246 Warren St	0.25mi	3/1.0	1,008 (+9%)	22mo	$218,250	$217	55
1874 Monticello St	0.58mi	2/1.0 (-1)	924 (-0%)	22mo	$155,000	$168	50
1850 S Crater Rd	0.50mi	3/2.0	864 (-7%)	15mo	$251,000	$291	49
1881 Monticello St	0.54mi	3/1.0	1,024 (+11%)	15mo	$160,000	$156	44

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-24,252
• Equity at exit: $26,831

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-14,919
• Equity at exit: $15,559

Cash invested: $50,386 (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 23805

• Home prices YoY: -10.6%
• Active inventory: 118
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,535 high
• Mortgage (P&I): −$944
• Tax from tax record: −$117 /mo · $1,398/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $78

Break-even live

Break-even rent $1,437

Max offer price $179,950

Occupancy floor 90%

Sensitivity live

Price	-10% $180	-5% $129	+0% $78	+5% $27	+10% $-24
Rent	-10% $-44	-5% $17	+0% $78	+5% $138	+10% $199
Rate	-1.0pp $168	-0.5pp $124	base $78	+0.5pp $31	+1.0pp $-16

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: $44,988
• Closing costs: $5,398
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 Sedgwick St Petersburg, VA	1.0–2.0	1.0–1.5	800	$1,254	$1.57	3d	2	0.31mi
1025 S Crater Rd Petersburg, VA	1.0–3.0	1.0–2.0	795	$1,409	$1.77	3d	10	0.63mi
200 Walnut Blvd Petersburg, VA	2.0	1.5	1056	$1,620	$1.53	45d	1	0.65mi
1814 East Blvd Petersburg, VA	2.0	1.0	972	$1,275	$1.31	45d	1	0.99mi
915 Hampton Rd Petersburg, VA	3.0	1.0	1054	$1,750	$1.66	18d	1	1.21mi
424 Roundtop Ave Petersburg, VA	3.0	1.0	988	$1,350	$1.37	45d	1	1.41mi
1922 Varina Ave Petersburg, VA	2.0	1.0	800	$1,170	$1.46	3d	1	1.42mi
445 Roundtop Ave Petersburg, VA	2.0	1.0	750	$1,050	$1.40	3d	3	1.44mi

Listing history 26 events

1. 2026-06-21
   days on market $179,950 Active 3 DOM
2. 2026-06-19
   remarks 664-char remark
3. 2026-06-19
   statusdays on market $179,950 Active 1 DOM
4. 2026-06-18
   days on market $179,950 Coming Soon 23 DOM
5. 2026-06-17
   days on market $179,950 Coming Soon 22 DOM
6. 2026-06-16
   days on market $179,950 Coming Soon 21 DOM
7. 2026-06-15
   days on market $179,950 Coming Soon 20 DOM
8. 2026-06-13
   days on market $179,950 Coming Soon 18 DOM
9. 2026-06-10
   days on market $179,950 Coming Soon 15 DOM
10. 2026-06-09
    days on market $179,950 Coming Soon 14 DOM
11. 2026-06-08
    days on market $179,950 Coming Soon 13 DOM
12. 2026-06-07
    days on market $179,950 Coming Soon 12 DOM
13. 2026-06-05
    days on market $179,950 Coming Soon 9 DOM
14. 2026-06-03
    days on market $179,950 Coming Soon 8 DOM
15. 2026-06-02
    days on market $179,950 Coming Soon 7 DOM
16. 2026-06-01
    days on market $179,950 Coming Soon 6 DOM
17. 2026-05-31
    days on market $179,950 Coming Soon 5 DOM
18. 2026-05-27
    historical $179,950
19. 2014-01-15
    soldstatus $75,000
20. 2014-01-14
    soldstatus $75,000
21. 2014-01-14
    soldstatus $75,000
22. 2014-01-14
    soldstatus $75,000
23. 2002-11-13
    soldstatus $58,000
24. 2002-11-08
    soldstatus $58,000
25. 2002-10-03
    listed $58,000
26. 2002-10-03
    listed $58,000

ⓘ 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: $1,398 · $117/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$77/yr (+$6/mo · 5.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,424
• − Mortgage interest: −$10,080
• − Property taxes: −$1,398
• − Insurance: −$900
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$5,235
• Taxable loss: −$2,137
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $1,446/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: Petersburg City Public School District
• NCES district ID: 5102910
• Math proficiency: 26% ▼ -27.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $34,362
• Composite: 28.78/100
• National rank: #6670
• State rank: #131 of 131 in VA

Livability — Petersburg

• Score: 61/100
• State rank: #413
• US rank: #17309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Petersburg, VA
• County: Petersburg City · 21,408 people
• City population: 63,420
• Metro: Richmond, VA
• Population (ZIP): 21,408
• Household income: $60,807
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 719.0

Population outlook (Petersburg County) Hauer SSP2

• Today (2025): 30,488 people
• By 2030: 29,771 · -2.4%
• By 2040: 28,401 · -6.8%
• By 2050: 27,279 · -10.5%
• By 2075: 25,877 · -15.1%
• By 2100: 24,288 · -20.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 58% White 32% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Italian 2% Lithuanian 1% Hungarian 1%
• Foreign-born: 4% · Canada, Vietnam, South Korea
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Petersburg

• 2024 margin: Solid D (+72.8) · D 85.8% · R 13.0% · Other 1.2%
• 2008→2024 swing: -5.7pp toward R · 2008: 78.5pp · 2024: 72.8pp
• All cycles: 2024: D+72.8 2020: D+76.5 2016: D+77.0 2012: D+80.4 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.37%
• Current HPI: 426.599
• 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

+210.3% since first listed

9 events — show timeline

• 2026-05-27 Coming Soon $179,950 CVRMLS
• 2014-01-15 Sold (Public Records) $75,000 Public Records
• 2014-01-14 Sold (MLS) $75,000 CVRMLS
• 2014-01-14 Sold (MLS) $75,000 CVRMLS
• 2014-01-14 Sold (MLS) $75,000 CVRMLS
• 2002-11-13 Sold (Public Records) $58,000 Public Records
• 2002-11-08 Sold (MLS) $58,000 CVRMLS
• 2002-10-03 Listed $58,000 CVRMLS
• 2002-10-03 Listed $58,000 CVRMLS

Property tax history

+1.3%/yr

Latest (2025): $1,398 · +9.6% YoY. Source: county tax records.