2620 A L Philpott Hwy · Chatmoss, VA 24054

$29,950

3 bd · 1.0 ba · 800 sqft · SingleFamily public records · 21 Days on market

Built 1960 0.43 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +4.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Looking for the perfect fixer upper or a great home to start your investment portfolio, then this is it! With an unbelievable price at under $40K, this is a steal. There's also a small outbuilding, perfect for storing lawn care items. Property sold as is with no repairs. Buyer to do due diligence. All information taken from GIS and tax card.

Key facts

• Small outbuilding
• 0.43 acre lot
• Built 1960

Tags

• SMALL OUTBUILDING

Property features AI

Finance

• Other: Property located in the Axton subdivision

Exterior

• Utilities: Public water; Private sewer
• Home design: Residential property
• Construction: Vinyl siding; Composition roof; Block basement
• Exterior features: Porch; Storm door(s); Outbuilding; Rolling slope lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling; Ceiling fan(s)
• Interior features: Ceiling fan(s); Range; Electric water heater; Refrigerator
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 29.2% vs local median 3.0% in Chatmoss — 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 65/100 on livability (#340 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($208 loan paydown + $852 appreciation (2.8% local appreciation)).
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,500 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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: 3.19% ✓
• Cap rate: 29.20%
• Cash-on-cash: 81.81%
• DSCR: 4.64
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.1%
• Equity multiple: 5.74×
• Total profit: $39,775
• Equity at exit: $13,204

10-year hold

• IRR: 85.7%
• Equity multiple: 11.84×
• Total profit: $90,874
• Equity at exit: $20,146

Cash invested: $8,386 (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 24054

• Home prices YoY: 1.6%
• Active inventory: 18
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$13 /mo · $157/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $572

Break-even live

Break-even rent $231

Max offer price $29,950

Occupancy floor 35%

Sensitivity live

Price	-10% $589	-5% $580	+0% $572	+5% $563	+10% $555
Rent	-10% $496	-5% $534	+0% $572	+5% $609	+10% $647
Rate	-1.0pp $587	-0.5pp $579	base $572	+0.5pp $564	+1.0pp $556

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: $7,488
• Closing costs: $898
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $29,950 Active 21 DOM
2. 2026-06-18
   days on market $29,950 Active 20 DOM
3. 2026-06-17
   days on market $29,950 Active 19 DOM
4. 2026-06-16
   days on market $29,950 Active 18 DOM
5. 2026-06-15
   days on market $29,950 Active 17 DOM
6. 2026-06-14
   days on market $29,950 Active 15 DOM
7. 2026-06-12
   pricedays on market $29,950 Active 14 DOM
8. 2026-06-09
   days on market $39,900 Active 11 DOM
9. 2026-06-08
   days on market $39,900 Active 10 DOM
10. 2026-06-07
    days on market $39,900 Active 9 DOM
11. 2026-06-03
    days on market $39,900 Active 5 DOM
12. 2026-06-02
    days on market $39,900 Active 4 DOM
13. 2026-06-01
    days on market $39,900 Active 3 DOM
14. 2026-05-31
    days on market $39,900 Active 2 DOM
15. 2026-05-29
    listed $39,900 Active

ⓘ 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: $157 · $13/mo
• Projected year-2 tax: $246 · $20/mo
• Expected delta: +$89/yr (+$7/mo · 56.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,458
• − Mortgage interest: −$1,678
• − Property taxes: −$157
• − Insurance: −$150
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$871
• Taxable income: $6,770
• Est. tax owed @ 24.0%: −$1,625
• After-tax cash flow: $5,236/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: Henry County Public School District
• NCES district ID: 5101920
• Math proficiency: 45% ▼ -37.00%
• Reading proficiency: 69% ▼ -6.00%
• Median HH income: $34,579
• Composite: 47.02/100
• National rank: #2345
• State rank: #78 of 131 in VA

Livability — Chatmoss

• Score: 65/100
• State rank: #340
• US rank: #13412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,046

Population outlook (Henry County) Hauer SSP2

• Today (2025): 46,903 people
• By 2030: 44,141 · -5.9%
• By 2040: 38,687 · -17.5%
• By 2050: 33,742 · -28.1%
• By 2075: 25,720 · -45.2%
• By 2100: 19,868 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 23% Hispanic / Latino 10% Two or more races 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Henry

• 2024 margin: Solid R (+32.8) · D 33.3% · R 66.1%
• 2008→2024 swing: -22.4pp toward R · 2008: -10.5pp · 2024: -32.8pp
• All cycles: 2024: R+32.8 2020: R+29.1 2016: R+29.2 2012: R+14.7 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.84%
• Current HPI: 181.1603
• 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

1 event — show timeline

• 2026-05-29 Listed $39,900 MHPCAR

Property tax history

+0.7%/yr

Latest (2025): $157 · +0.0% YoY. Source: county tax records.