261 Other · Danville, VA 24540

$47,500

2 bd · 1.0 ba · 784 sqft · SingleFamily · 1 Days on market

Built 1947 Poor condition 0.27 ac lot $61/sqft · 54% below area

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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
• Schools +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors, flippers, and renovation enthusiasts! This 2-bedroom, 1-bath bungalow style home located at 261 Fagan St. offers an opportunity to transform a distressed property into a potential income-producing rental or resale project. Situated on a level lot, the home features a traditional layout and convenient city location. However, the property is in need of a complete rehabilitation and is being sold strictly as-is, where is, no warranties. With a manageable footprint, this property could be an attractive project for investors seeking their next renovation opportunity. Bring your vision, tools, and contractor to unlock the potential this property has to offer.

Key facts

• Level lot
• Traditional layout
• Bungalow style home

Tags

• BUNGALOW STYLE HOME
• LEVEL LOT
• TRADITIONAL LAYOUT
• NEXT RENOVATION OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Cap rate 19.9% vs local median 5.3% in Danville — 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 77/100 on livability (#91 in VA, #2,952 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D-, commute F.
• Danville City Public School District (town): math 30% / reading 44% proficiency, ranked #128 of 131 in VA (top 98%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edwin A. Gibson Elementary (math 17% / reading 37%, grade F, #1,029 of 1,108 statewide, top 94%, 518 students, 94% FRL); O. Trent Bonner Middle (math 33% / reading 53%, grade D-, #288 of 342 statewide, top 85%, 678 students, 91% FRL); George Washington High (math 44% / reading 54%, grade D, #300 of 319 statewide, top 94%, 1,309 students, 88% FRL) — zoned schools average 91% FRL vs 71% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 276 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 54 units permitted in Danville city in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Danville County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $47,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
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: 2.32% ✓
• Cap rate: 19.95%
• Cash-on-cash: 48.76%
• DSCR: 3.17
• GRM: 3.6

CMA / ARV

• ARV (median comp): $104,389
• List price: $47,500
• Delta: -54.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Lovelace Rd	0.49mi	2/1.0	808 (+3%)	6mo	$90,000	$111	68
202 Ash St	0.60mi	2/1.0	809 (+3%)	9mo	$130,000	$161	59
879 Arnett Blvd	0.60mi	2/1.0	750 (-4%)	13mo	$66,000	$88	54
503 Skyline Ave	0.73mi	1/1.0 (-1)	828 (+6%)	6mo	$107,000	$129	46
122 Ruskin St	0.65mi	3/1.0 (+1)	900 (+15%)	20mo	$125,000	$139	23

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: 46.3%
• Equity multiple: 3.01×
• Total profit: $26,742
• Equity at exit: $7,082

10-year hold

• IRR: 52.1%
• Equity multiple: 6.09×
• Total profit: $67,679
• Equity at exit: $4,107

Cash invested: $13,300 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 2 active · 1 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $112,400 ($133/sqft)
• Median days on market: 103 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +0.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 24540

• Home prices YoY: -20.0%
• Active inventory: 276
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,100 high
• Mortgage (P&I): −$249
• Tax est. 1.5%: −$59 /mo · $712/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $540

Break-even live

Break-even rent $416

Max offer price $47,500

Occupancy floor 46%

Sensitivity live

Price	-10% $573	-5% $557	+0% $540	+5% $524	+10% $508
Rent	-10% $454	-5% $497	+0% $540	+5% $584	+10% $627
Rate	-1.0pp $564	-0.5pp $553	base $540	+0.5pp $528	+1.0pp $516

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: $11,875
• Closing costs: $1,425
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Crosland Ave Danville, VA	2.0	1.5	776	$910	$1.17	1d	1	0.30mi
357 Terry Ave Danville, VA	3.0	1.0	900	$1,165	$1.29	139d	1	0.67mi
1300 Franklin Tpke Danville, VA	2.0	1.5	1000	$1,365	$1.36	1d	1	0.86mi
100 N Pointe Ln Unit 400-304 Danville, VA	2.0	1.5	880	$1,080	$1.23	4d	1	1.12mi
513 Ingram St Danville, VA	3.0	1.0	1028	$1,263	$1.23	5d	1	1.32mi

Property features AI

Finance

• Financial info: Annual tax amount listed (not included as a financial detail per instructions)

Exterior

• Utilities: Public waterPublic sewer
• Home design: Residential property
• Construction: Aluminum sidingComposition roof
• Exterior features: Front porchLevel lot

Interior

• Kitchen: No listed kitchen appliances
• Bedrooms: Total of 4 rooms (bedroom breakdown not specified)
• Flooring: Vinyl flooringWood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heatingFloor furnaceNo central cooling listed
• Interior features: Vinyl and wood flooringNo listed appliances
• Laundry & utility: No laundry appliances listed

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $47,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $13,196
• − Mortgage interest: −$2,661
• − Property taxes: −$712
• − Insurance: −$238
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$1,382
• Taxable income: $6,092
• Est. tax owed @ 24.0%: −$1,462
• After-tax cash flow: $5,024/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab Est. rehab $39,200–$70,560 screening

This property requires extensive renovation and rehabilitation to become a move-in-ready home. Significant repairs and updates are needed to improve its condition and increase its value.

Repairs flagged

• Major siding — Severe weathering and damage
• Major roof — Aged and possibly leaking
• Major flooring — Worn and in need of refinishing
• Major interior walls — Exposed drywall and peeling paint
• Major kitchen appliances — Outdated and non-functional
• Major bathroom fixtures — Dirty and outdated

Value-add opportunities

• Both exterior renovation — Improves curb appeal and resale value ↑
• Both interior renovation — Enhances living space and rental appeal ↑
• Both kitchen appliances — Modernizes the space and attracts buyers ↑
• Both bathroom fixtures — Updates the space and attracts buyers ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Edwin A. Gibson Elementary F VA #1,029/1,108 Nat'l #28,475/41,679 Middle O. Trent Bonner Middle D- VA #288/342 Nat'l #5,160/14,009 High George Washington High D VA #300/319 Nat'l #6,078/17,239

Schools (NCES district)

• District: Danville City Public School District
• NCES district ID: 5101110
• Math proficiency: 30% ▼ -22.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $31,952
• Composite: 30.23/100
• National rank: #6298
• State rank: #128 of 131 in VA

B Composite livability gradescore 77/100

Livability — Danville

• Score: 77/100
• State rank: #91
• US rank: #2952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Danville, VA
• County: Danville City · 40,989 people
• City population: 59,055
• Metro: Danville, VA
• Population (ZIP): 31,013
• Household income: $47,924
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 13% of renters

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Population outlook (Danville County) Hauer SSP2

• Today (2025): 40,989 people
• By 2030: 40,432 · -1.4%
• By 2040: 39,255 · -4.2%
• By 2050: 38,035 · -7.2%
• By 2075: 35,612 · -13.1%
• By 2100: 30,365 · -25.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Black 42% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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Political lean MEDSL · Danville

• 2024 margin: Strong D (+21.1) · D 60.1% · R 39.0%
• 2008→2024 swing: +1.9pp toward D · 2008: 19.1pp · 2024: 21.1pp
• All cycles: 2024: D+21.1 2020: D+22.1 2016: D+19.9 2012: D+22.1 2008: D+19.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.79%
• Current HPI: 235.1746
• Rent YoY: —
• Metro: Danville, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

Property features AI

Finance

• Financial info: Annual tax amount listed (not included as a financial detail per instructions)

Exterior

• Utilities: Public waterPublic sewer
• Home design: Residential property
• Construction: Aluminum sidingComposition roof
• Exterior features: Front porchLevel lot

Interior

• Kitchen: No listed kitchen appliances
• Bedrooms: Total of 4 rooms (bedroom breakdown not specified)
• Flooring: Vinyl flooringWood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heatingFloor furnaceNo central cooling listed
• Interior features: Vinyl and wood flooringNo listed appliances
• Laundry & utility: No laundry appliances listed