1104 Henson Ave · Pearisburg, VA 24134

$199,000

3 bd · 2.0 ba · 3,432 sqft · SingleFamily public records · 168 Days on market

Built 1925 1.02 ac lot $58/sqft · 40% below area Est $331k · 40% 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Victorian beauty right in the heart of Pearisburg! If you've driven by this one, you thought about what it must have been like in the early 1900's. Many updates and upgrades in recent years. Antique piano conveys, adding something truly special to this one! Beautiful woodwork and trim throughout the home with a stunner staircase sure to catch everyone's eye. Plenty of room to entertain, walking distance to the elementary school, park, Pearisburg Town Pool, and the Giles Country Club. Some maintenance needed to bring this gem back to its glory, priced accordingly!

Key facts

• Victorian beauty
• Stunner staircase
• Woodwork and trim

Tags

• VICTORIAN BEAUTY
• ANTIQUE PIANO CONVEYS
• WOODWORK AND TRIM
• STUNNER STAIRCASE
• WALKING DISTANCE TO PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (35.9% below list).
• Recommended offer: $128k (35.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#154 in VA, #4,875 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: amenities F, commute F.
• Giles County Public School District (rural): math 56% / reading 68% proficiency, ranked #54 of 131 in VA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 25 units permitted in Giles County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Giles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $89k; list at $199k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,519 (35.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.37%
• DSCR: 0.85
• GRM: 13.0

CMA / ARV

• ARV (median comp): $331,195
• List price: $199,000
• Delta: -39.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 Buchanan St	0.13mi	4/2.5 (+1)	3,074 (-10%)	5mo	$250,000	$81	65
300 Chestnut St	0.65mi	4/2.5 (+1)	3,110 (-9%)	7mo	$412,500	$133	41
304 Chestnut St	0.68mi	4/3.0 (+1)	3,097 (-10%)	4mo	$335,000	$108	40
921 Clifford St	0.54mi	4/3.0 (+1)	3,190 (-7%)	20mo	$339,000	$106	37

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: -22.0%
• Equity multiple: 0.24×
• Total profit: $-42,317
• Equity at exit: $29,672

10-year hold

• IRR: -16.1%
• Equity multiple: 0.10×
• Total profit: $-50,124
• Equity at exit: $17,206

Cash invested: $55,720 (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 24134

• Home prices YoY: -22.0%
• Active inventory: 37
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-156

Break-even live

Break-even rent $1,473

Max offer price $171,375

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $199,000 Pending 168 DOM
2. 2026-06-03
   days on market $199,000 Active 166 DOM
3. 2026-06-02
   days on market $199,000 Active 165 DOM
4. 2026-06-01
   days on market $199,000 Active 164 DOM
5. 2026-05-31
   days on market $199,000 Active 163 DOM
6. 2026-05-30
   days on market $199,000 Active 162 DOM
7. 2025-12-19
   listed $199,000 Active 569-char remark

   Show marketing remark (569 chars)

   Victorian beauty right in the heart of Pearisburg! If you've driven by this one, you thought about what it must have been like in the early 1900's. Many updates and upgrades in recent years. Antique piano conveys, adding something truly special to this one! Beautiful woodwork and trim throughout the home with a stunner staircase sure to catch everyone's eye. Plenty of room to entertain, walking distance to the elementary school, park, Pearisburg Town Pool, and the Giles Country Club. Some maintenance needed to bring this gem back to its glory, priced accordingly!

8. 2020-06-12
   soldstatus $89,000

ⓘ 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: $447 · $37/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$1,184/yr (+$99/mo · 264.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,302
• − Mortgage interest: −$11,147
• − Property taxes: −$447
• − Insurance: −$995
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$5,789
• Taxable loss: −$5,525
• Est. tax savings @ 24.0%: +$1,326
• After-tax cash flow: $-551/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: Giles County Public School District
• NCES district ID: 5101590
• Math proficiency: 56% ▼ -26.00%
• Reading proficiency: 68% ▼ -8.00%
• Median HH income: $45,394
• Composite: 52.25/100
• National rank: #1600
• State rank: #54 of 131 in VA

Livability — Pearisburg

• Score: 74/100
• State rank: #154
• US rank: #4875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pearisburg, VA
• Population (ZIP): 5,296

Population outlook (Giles County) Hauer SSP2

• Today (2025): 15,868 people
• By 2030: 15,306 · -3.5%
• By 2040: 14,149 · -10.8%
• By 2050: 13,059 · -17.7%
• By 2075: 10,837 · -31.7%
• By 2100: 8,648 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 5% Asian 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Tagalog/Filipino 1%

Political lean MEDSL · Giles

• 2024 margin: Solid R (+54.5) · D 22.4% · R 76.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -16.3pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+51.4 2016: R+48.6 2012: R+25.6 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.90%
• Current HPI: 208.9095
• 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

+123.6% since first listed

2 events — show timeline

• 2025-12-19 Listed $199,000 NRVMLS
• 2020-06-12 Sold (Public Records) $89,000 Public Records

Property tax history

-3.6%/yr

Latest (2025): $447 · +0.0% YoY. Source: county tax records.