117 Forest Hill St · Clarksville, VA 23927

$115,000

3 bd · 2.0 ba · 1,642 sqft · SingleFamily public records · 1 Days on market

Built 1950 0.34 ac lot

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Why this score? — see what drove the C 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 +23.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +5.4/10.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ATTENTION INVESTORS & FLIPPERS: This home is offered well below the assessed value. Add your "elbow grease" and make this diamond in the rough shine again. The home offers wood floors and an open floorplan from dining to living spaces. Enjoy Summer grilling with doors that open from the dining right to your deck! The kitchen has plenty of cabinetry & opens to a spacious Laundry Room. Potential to finish the attic space that used to be a bedroom and bath. The unfinished basement can make a great workshop. It already offers Replacement windows . It has a past history as a rental. Located in the golf cart district, so you can take a spin to have a beer at Buggs Island Brewery, dine at Bridgewater or play Bingo at the Community Center. Come and look at this bargain priced home today! Clarksville On The Lake is your gateway to Kerr Lake.

Key facts

• Wood floors
• Open floorplan
• Deck

Tags

• WOOD FLOORS
• OPEN FLOORPLAN
• DECK
• SPACIOUS LAUNDRY ROOM
• REPLACEMENT WINDOWS
• GOLF CART DISTRICT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/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 $113k (1.3% below list).
• Recommended offer: $113k (1.3% below list) — sets the bar for 1% rule.
• Cap rate 8.4% vs local median 1.5% in Clarksville — 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 73/100 on livability (#179 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Clarksville Elementary (math 62% / reading 72%, grade B+, #381 of 1,108 statewide, top 36%, 455 students, 88% FRL); Bluestone Middle (math 57% / reading 77%); Bluestone High (math 67% / reading 77%) — zoned schools average 88% FRL vs 54% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 177 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y 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 $83k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 22% 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 $113,483 (1.3% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 0.99% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $351,388
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Forest Hill St	0.15mi	2/2.0 (-1)	1,564 (-5%)	8mo	$700,000	$448	74
106 Franklin St	0.10mi	3/2.5	1,785 (+9%)	11mo	$325,000	$182	70
116 Ferry St	0.17mi	3/2.5	1,825 (+11%)	17mo	$390,000	$214	57
145 Buffalo Rd	0.19mi	3/2.0	1,818 (+11%)	21mo	$289,000	$159	56
129 Forest Hill St	0.35mi	2/2.0 (-1)	1,564 (-5%)	24mo	$850,000	$543	51
113 Mecklenburg Blvd	0.66mi	3/2.0	1,690 (+3%)	20mo	$300,000	$178	48

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,725
• Equity at exit: $17,147

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $11,512
• Equity at exit: $9,943

Cash invested: $32,200 (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 23927

• Home prices YoY: -23.4%
• Active inventory: 177
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,135 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$42 /mo · $505/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $203

Break-even live

Break-even rent $877

Max offer price $115,000

Occupancy floor 77%

Sensitivity live

Price	-10% $269	-5% $236	+0% $203	+5% $171	+10% $138
Rent	-10% $114	-5% $159	+0% $203	+5% $248	+10% $293
Rate	-1.0pp $261	-0.5pp $233	base $203	+0.5pp $174	+1.0pp $143

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-16
   status Pending 866-char remark

   Show marketing remark (866 chars)

   ATTENTION INVESTORS & FLIPPERS: This home is offered well below the assessed value. Add your "elbow grease" and make this diamond in the rough shine again. The home offers wood floors and an open floorplan from dining to living spaces. Enjoy Summer grilling with doors that open from the dining right to your deck! The kitchen has plenty of cabinetry & opens to a spacious Laundry Room. Potential to finish the attic space that used to be a bedroom and bath. The unfinished basement can make a great workshop. It already offers Replacement windows . It has a past history as a rental. Located in the golf cart district, so you can take a spin to have a beer at Buggs Island Brewery, dine at Bridgewater or play Bingo at the Community Center. Come and look at this bargain priced home today! Clarksville On The Lake is your gateway to Kerr Lake.

2. 2026-04-16
   status Pending

   Show marketing remark (866 chars)

   ATTENTION INVESTORS & FLIPPERS: This home is offered well below the assessed value. Add your "elbow grease" and make this diamond in the rough shine again. The home offers wood floors and an open floorplan from dining to living spaces. Enjoy Summer grilling with doors that open from the dining right to your deck! The kitchen has plenty of cabinetry & opens to a spacious Laundry Room. Potential to finish the attic space that used to be a bedroom and bath. The unfinished basement can make a great workshop. It already offers Replacement windows . It has a past history as a rental. Located in the golf cart district, so you can take a spin to have a beer at Buggs Island Brewery, dine at Bridgewater or play Bingo at the Community Center. Come and look at this bargain priced home today! Clarksville On The Lake is your gateway to Kerr Lake.

3. 2026-04-13
   listed $115,000 Active 866-char remark

   Show marketing remark (866 chars)

   ATTENTION INVESTORS & FLIPPERS: This home is offered well below the assessed value. Add your "elbow grease" and make this diamond in the rough shine again. The home offers wood floors and an open floorplan from dining to living spaces. Enjoy Summer grilling with doors that open from the dining right to your deck! The kitchen has plenty of cabinetry & opens to a spacious Laundry Room. Potential to finish the attic space that used to be a bedroom and bath. The unfinished basement can make a great workshop. It already offers Replacement windows . It has a past history as a rental. Located in the golf cart district, so you can take a spin to have a beer at Buggs Island Brewery, dine at Bridgewater or play Bingo at the Community Center. Come and look at this bargain priced home today! Clarksville On The Lake is your gateway to Kerr Lake.

4. 2026-04-13
   listed $115,000 Active

   Show marketing remark (866 chars)

   ATTENTION INVESTORS & FLIPPERS: This home is offered well below the assessed value. Add your "elbow grease" and make this diamond in the rough shine again. The home offers wood floors and an open floorplan from dining to living spaces. Enjoy Summer grilling with doors that open from the dining right to your deck! The kitchen has plenty of cabinetry & opens to a spacious Laundry Room. Potential to finish the attic space that used to be a bedroom and bath. The unfinished basement can make a great workshop. It already offers Replacement windows . It has a past history as a rental. Located in the golf cart district, so you can take a spin to have a beer at Buggs Island Brewery, dine at Bridgewater or play Bingo at the Community Center. Come and look at this bargain priced home today! Clarksville On The Lake is your gateway to Kerr Lake.

5. 2020-11-02
   historical
6. 2020-02-20
   listed $85,000
7. 2018-06-07
   historical
8. 2017-08-15
   listed $95,000
9. 2017-08-01
   historical
10. 2016-06-28
    listed $110,000
11. 2009-07-24
    soldstatus $83,000
12. 2009-07-24
    soldstatus $83,000
13. 2009-07-23
    soldstatus $83,000
14. 2008-10-22
    listed $100,000
15. 2008-10-22
    listed $100,000

ⓘ 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: $505 · $42/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$438/yr (+$36/mo · 86.6%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,618
• − Mortgage interest: −$6,442
• − Property taxes: −$505
• − Insurance: −$575
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$3,345
• Taxable income: $571
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $2,304/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Clarksville

• Score: 73/100
• State rank: #179
• US rank: #5434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, VA
• Population (ZIP): 4,715

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 22% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Slovak 3% Scottish 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Tagalog/Filipino 1%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.55%
• Current HPI: 195.4356
• 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

+15.0% since first listed

15 events — show timeline

• 2026-04-16 Pending — SPLLAR
• 2026-04-16 Pending — TMLS
• 2026-04-13 Listed $115,000 SPLLAR
• 2026-04-13 Listed $115,000 TMLS
• 2020-11-02 Listing Removed — TMLS
• 2020-02-20 Listed $85,000 TMLS
• 2018-06-07 Listing Removed — TMLS
• 2017-08-15 Listed $95,000 TMLS
• 2017-08-01 Listing Removed — TMLS
• 2016-06-28 Listed $110,000 TMLS
• 2009-07-24 Sold (MLS) $83,000 AMLSNC
• 2009-07-24 Sold (MLS) $83,000 TMLS
• 2009-07-23 Sold (Public Records) $83,000 Public Records
• 2008-10-22 Listed $100,000 AMLSNC
• 2008-10-22 Listed $100,000 TMLS

Property tax history

+1.9%/yr

Latest (2025): $505 · +0.0% YoY. Source: county tax records.