6201 Binns Ave · Richmond, VA 23225

$239,999

3 bd · 1.5 ba · 1,396 sqft · SingleFamily public records · 2 Days on market

Built 1959 0.50 ac lot Est $325k · 26% 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 +13.7/30.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.3/10.0
• Schools +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well maintained 3 bed 1 1/2 bath ranch style home in Richmond is move in ready. 1 level living with a cozy family room with hardwood flooring, great natural lighting and a wood burning fireplace. This home has been freshly painted throughout, New HVAC, New kitchen counter tops and New stove top. Outside is complete with off street parking and a spacious back yard.

Key facts

• Natural light
• Huge backyard
• Barn-style door

Tags

• FLEX ROOM
• BARN-STYLE DOOR
• ORIGINAL HARDWOOD FLOORING
• NATURAL LIGHT
• REPLACED ROOF
• HUGE BACKYARD

Property features AI

Exterior

• Parking: Driveway parking; No garage; Unpaved parking
• Utilities: Public water; Public sewer; Electric power
• Home design: Single-story home; Brick construction; Shingle roof; Mixed year built
• Construction: Brick exterior; Shingle roof; Crawl space foundation
• Exterior features: Front porch; Porch; Deck; Fenced backyard; Unpaved driveway

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Partially carpeted; Wood floors
• Bathrooms: One full bathroom with tub; One half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Dining area; Eat-in kitchen; Primary bedroom with private bath; Masonry fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $18 ($217/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 $199k (17.3% below list).
• Recommended offer: $199k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 flat; 167 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 38% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $173k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $198,568 (17.3% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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: 0.83% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $325,268
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6207 Winter Rd	0.10mi	3/2.0	1,476 (+6%)	1mo	$350,000	$237	83
6300 Worthington Rd	0.23mi	3/1.5	1,320 (-5%)	6mo	$310,000	$235	76
932 Whitehead Rd	0.27mi	3/1.5	1,320 (-5%)	3mo	$285,000	$216	76
5847 Warwick Rd	0.27mi	3/2.0	1,397 (+0%)	15mo	$326,000	$233	73
625 Tilton Ct	0.25mi	3/1.5	1,526 (+9%)	8mo	$260,000	$170	66
925 Derrymore Rd	0.26mi	3/1.5	1,526 (+9%)	14mo	$300,000	$197	61
6436 Clisby Rd	0.54mi	3/1.5	1,320 (-5%)	6mo	$245,000	$186	60
6109 Worthington Rd	0.37mi	2/1.0 (-1)	1,307 (-6%)	6mo	$310,000	$237	60
6507 Clisby Rd	0.59mi	3/1.5	1,320 (-5%)	13mo	$225,000	$170	53
1113 Worthington Ct	0.54mi	3/2.0	1,561 (+12%)	6mo	$315,000	$202	48
6525 Erhart Rd	0.55mi	3/1.5	1,220 (-13%)	10mo	$305,000	$250	46
1049 Kingsway Rd	0.60mi	3/1.0	1,249 (-10%)	15mo	$300,000	$240	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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-42,399
• Equity at exit: $35,785

10-year hold

• IRR: -15.8%
• Equity multiple: 0.20×
• Total profit: $-53,684
• Equity at exit: $20,751

Cash invested: $67,200 (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 23225

• Rents YoY: 0.6%
• Active inventory: 167
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$192 /mo · $2,304/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $18

Break-even live

Break-even rent $1,963

Max offer price $239,999

Occupancy floor 94%

Sensitivity live

Price	-10% $154	-5% $86	+0% $18	+5% $-50	+10% $-118
Rent	-10% $-139	-5% $-60	+0% $18	+5% $97	+10% $175
Rate	-1.0pp $139	-0.5pp $79	base $18	+0.5pp $-44	+1.0pp $-107

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1018 Barlen Dr Richmond, VA	3.0	1.0	935	$1,700	$1.82	44d	1	0.53mi
6925 Starview Ct Richmond, VA	1.0–2.0	1.5	953	$1,642	$1.72	2d	4	0.78mi
6540 Greenbank Rd Richmond, VA	1.0–3.0	1.0–1.5	887	$1,790	$2.02	2d	59	0.84mi
311 Karl Linn Dr North Chesterfield, VA	1.0–3.0	1.0–3.0	1271	$3,416	$2.69	2d	21	0.86mi
6839 Carnation St Richmond, VA	1.0–3.0	1.0–2.0	938	$1,915	$2.04	2d	21	0.90mi
1244 Canterbury Ridge Rd Unit 1 Richmond, VA	3.0	2.5	1250	$2,000	$1.60	5d	1	0.90mi
161 Hioaks Rd Richmond, VA	1.0–3.0	1.0–2.0	983	$1,601	$1.63	5d	7	0.95mi
435 German School Rd Richmond, VA	1.0–3.0	1.0–2.0	956	$1,744	$1.82	2d	18	1.00mi
1501 Ivymount Rd Richmond, VA	3.0	1.5	1084	$1,750	$1.61	44d	1	1.00mi
101 Springline Dr North Chesterfield, VA	1.0–3.0	1.0–2.0	981	$2,825	$2.88	2d	49	1.10mi
901 Saint John's Wood Dr Richmond, VA	1.0–3.0	1.0–2.0	1023	$1,855	$1.81	2d	196	1.20mi
5601 Larrymore Rd Richmond, VA	4.0	2.0	1581	$1,960	$1.24	44d	1	1.22mi
2336 Sara Ln Richmond, VA	3.0	1.0	1120	$1,695	$1.51	44d	1	1.28mi
6901 Marlowe Rd Richmond, VA	1.0–2.0	1.0–2.0	722	$1,953	$2.70	44d	24	1.33mi
6901 Marlowe Rd Richmond, VA	1.0–2.0	1.0–2.0	722	$1,910	$2.64	2d	51	1.33mi
725 Boulder Springs Dr North Chesterfield, VA	1.0–3.0	1.0–2.0	1155	$2,050	$1.77	2d	26	1.34mi
723 Faye St Richmond, VA	2.0	1.0	1100	$1,850	$1.68	44d	1	1.38mi
811 Irby Dr Richmond, VA	3.0	1.5	1202	$1,895	$1.58	16d	1	1.38mi
1840 Powell Rd Richmond, VA	2.0	1.0	1228	$1,695	$1.38	16d	1	1.38mi
211 Lingstorm Ln Richmond, VA	1.0–3.0	1.0–2.0	818	$1,960	$2.40	2d	123	1.41mi
1188 Grand Brook Dr Unit 1188 Richmond, VA	3.0	2.5	1414	$2,600	$1.84	15d	1	1.48mi

Listing history 2 events

1. 2026-06-13
   remarks 699-char remark
2. 2026-06-13
   listed $239,999 Pending 2 DOM

ⓘ 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: $2,304 · $192/mo
• Projected year-2 tax: $2,304 · $192/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 16 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,828
• − Mortgage interest: −$13,444
• − Property taxes: −$2,304
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − Depreciation: −$6,982
• Taxable loss: −$3,914
• Est. tax savings @ 24.0%: +$939
• After-tax cash flow: $1,157/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): 42,771
• Household income: $62,949
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2516.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 42% White 38% Hispanic / Latino 14% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Other Asian/Pacific 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: ▼ -392.89%
• Current HPI: 339.408
• Rent YoY: ▲ 0.63%
• 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

+1419.0% since first listed

12 events — show timeline

• 2026-06-13 Pending — CVRMLS
• 2026-06-12 Listed $239,999 CVRMLS
• 2019-07-02 Sold (Public Records) $173,000 Public Records
• 2019-06-28 Sold (MLS) $173,000 CVRMLS
• 2019-05-14 Pending — CVRMLS
• 2019-05-10 Listed $172,000 CVRMLS
• 2005-10-17 Sold (Public Records) $120,000 Public Records
• 2005-10-14 Sold (MLS) $120,000 CVRMLS
• 2005-10-14 Sold (MLS) $120,000 CVRMLS
• 2005-08-27 Listed $130,000 CVRMLS
• 2005-08-27 Listed $130,000 CVRMLS
• 1962-10-17 Sold (Public Records) $15,800 Public Records

Property tax history

+4.8%/yr

Latest (2022): $2,304 · +50.0% YoY. Source: county tax records.