4110 Terminal Ave · Richmond, VA 23224

$180,000

3 bd · 2.0 ba · 1,408 sqft · SingleFamily public records

Built 2005 0.40 ac lot Est $297k · 39% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

(NEW CONSTRUCTION) WILL BE COMPLETED IN MARCH 2005, Picture above in not actual home. Brick front, 3 bedroom, 2baths rancher w/ livingroom, family room, dinning room, Kitchen, Builder paying 3% in closing cost and points, 3% downpayment assistance.

Key facts

• 0.4 acre lot
• Parking
• Built 2005

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $179 ($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 $177k (1.5% below list).
• Recommended offer: $177k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.2% 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 rising fast (+4.5%/yr); 177 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,540 units permitted in Richmond city in 2024 (2,077 in 5+ unit buildings).
• This rent runs 42% of the median local income ($50k/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 $1k of loan paydown is wiped out by about $5k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $138k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,271 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.98% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $297,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4110 Terminal Ave	0.00mi	3/2.0	1,408 (0%)	0mo	$183,000	$130	100
4200 Terminal Ave	0.11mi	3/2.5	1,456 (+3%)	1mo	$325,000	$223	87
4060 Norborne Rd	0.33mi	4/3.0 (+1)	1,410 (+0%)	3mo	$310,000	$220	73
4504 Warwick Rd	0.30mi	3/2.0	1,312 (-7%)	3mo	$299,000	$228	72
2007 Orlando Rd	0.33mi	3/2.0	1,512 (+7%)	10mo	$285,000	$188	64
2013 Orlando Rd	0.32mi	4/2.0 (+1)	1,511 (+7%)	6mo	$174,601	$116	63
4018 Norborne Rd	0.43mi	3/1.5	1,508 (+7%)	4mo	$289,500	$192	63
1741 Alaska Dr	0.62mi	3/1.5	1,375 (-2%)	8mo	$295,000	$215	59
4501 Warwick Rd	0.33mi	3/2.0	1,235 (-12%)	10mo	$260,000	$211	56
1724 Alaska Dr	0.66mi	3/2.0	1,235 (-12%)	2mo	$187,000	$151	47
3502 Delano St	0.53mi	4/2.0 (+1)	1,595 (+13%)	9mo	$195,000	$122	41
1833 Alaska Dr	0.59mi	3/1.5	1,222 (-13%)	10mo	$310,000	$254	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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.70×
• Total profit: $-14,978
• Equity at exit: $26,839

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $13,540
• Equity at exit: $15,563

Cash invested: $50,400 (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 23224

• Rents YoY: 4.5%
• Active inventory: 177
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,773 high
• Mortgage (P&I): −$944
• Tax from tax record: −$203 /mo · $2,436/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $179

Break-even live

Break-even rent $1,547

Max offer price $180,000

Occupancy floor 85%

Sensitivity live

Price	-10% $280	-5% $229	+0% $179	+5% $128	+10% $77
Rent	-10% $38	-5% $108	+0% $179	+5% $249	+10% $319
Rate	-1.0pp $269	-0.5pp $224	base $179	+0.5pp $132	+1.0pp $84

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2143 S Kinsley Ave Richmond, VA	4.0	1.0	1297	$1,550	$1.20	45d	1	0.28mi
4904 Warwick Rd Unit 4705 Richmond, VA	2.0	1.5	900	$1,400	$1.56	45d	1	0.42mi
3309 Delano St Richmond, VA	3.0	2.0	1542	$1,850	$1.20	45d	1	0.68mi
1840 Powell Rd Richmond, VA	2.0	1.0	1228	$1,695	$1.38	17d	1	0.89mi
1200 Southwood Pkwy Richmond, VA	1.0–2.0	1.0–2.0	916	$1,605	$1.75	45d	11	0.90mi
3124 Snead Ct Richmond, VA	2.0	1.5	1000	$1,349	$1.35	24d	3	0.93mi
4066 Walmsley Blvd Richmond, VA	3.0	1.5	1705	$2,095	$1.23	45d	1	0.95mi
4035 Walmsley Blvd Richmond, VA	3.0	2.0	1575	$2,300	$1.46	2d	1	1.00mi
1244 Canterbury Ridge Rd Unit 1 Richmond, VA	3.0	2.5	1250	$2,000	$1.60	5d	1	1.38mi
2336 Sara Ln Richmond, VA	3.0	1.0	1120	$1,695	$1.51	45d	1	1.45mi
4120 Grantlake Rd Richmond, VA	4.0	2.0	1700	$2,225	$1.31	2d	1	1.50mi

Listing history 9 events

1. 2026-04-15
   listed $180,000
2. 2026-04-15
   historical
3. 2005-04-28
   soldstatus $137,500
4. 2005-04-28
   soldstatus $137,500
5. 2005-04-27
   soldstatus $137,500 248-char remark

   Show marketing remark (248 chars)

   (NEW CONSTRUCTION) WILL BE COMPLETED IN MARCH 2005, Picture above in not actual home. Brick front, 3 bedroom, 2baths rancher w/ livingroom, family room, dinning room, Kitchen, Builder paying 3% in closing cost and points, 3% downpayment assistance.

6. 2005-04-27
   soldstatus $137,500 248-char remark

   Show marketing remark (248 chars)

   (NEW CONSTRUCTION) WILL BE COMPLETED IN MARCH 2005, Picture above in not actual home. Brick front, 3 bedroom, 2baths rancher w/ livingroom, family room, dinning room, Kitchen, Builder paying 3% in closing cost and points, 3% downpayment assistance.

7. 2004-12-15
   listed $137,990 248-char remark

   Show marketing remark (248 chars)

   (NEW CONSTRUCTION) WILL BE COMPLETED IN MARCH 2005, Picture above in not actual home. Brick front, 3 bedroom, 2baths rancher w/ livingroom, family room, dinning room, Kitchen, Builder paying 3% in closing cost and points, 3% downpayment assistance.

8. 2004-12-15
   listed $137,990 248-char remark

   Show marketing remark (248 chars)

   (NEW CONSTRUCTION) WILL BE COMPLETED IN MARCH 2005, Picture above in not actual home. Brick front, 3 bedroom, 2baths rancher w/ livingroom, family room, dinning room, Kitchen, Builder paying 3% in closing cost and points, 3% downpayment assistance.

9. 2004-12-10
   soldstatus $24,000

ⓘ 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: $2,436 · $203/mo
• Projected year-2 tax: $2,436 · $203/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 · 15 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: $21,273
• − Mortgage interest: −$10,083
• − Property taxes: −$2,436
• − Insurance: −$900
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$5,236
• Taxable loss: −$786
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $2,331/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): 40,575
• Household income: $50,475
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3584.0

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 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 22% White 15% Two or more races 6%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 17% · Canada
• Languages at home: 78% English-only · Spanish 19% French/Haitian/Cajun 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: ▼ -283.99%
• Current HPI: 336.9345
• Rent YoY: ▲ 4.55%
• 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

+650.0% since first listed

9 events — show timeline

• 2026-04-15 Listing Removed — CVRMLS
• 2026-04-15 Listed $180,000 CVRMLS
• 2005-04-28 Sold (Public Records) $137,500 Public Records
• 2005-04-28 Sold (Public Records) $137,500 Public Records
• 2005-04-27 Sold (MLS) $137,500 CVRMLS
• 2005-04-27 Sold (MLS) $137,500 CVRMLS
• 2004-12-15 Listed $137,990 CVRMLS
• 2004-12-15 Listed $137,990 CVRMLS
• 2004-12-10 Sold (Public Records) $24,000 Public Records

Property tax history

+4.3%/yr

Latest (2022): $2,436 · +40.0% YoY. Source: county tax records.