546 Rice St · Danville, VA 24540

$54,900

2 bd · 1.0 ba · 791 sqft · SingleFamily public records · 263 Days on market

Built 1952 0.27 ac lot $69/sqft · 12% below area Est $62k · 12% under

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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
• ARV discount +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

Key facts

• Large yard
• Double lot
• 0.27 acre lot

Tags

• LARGE YARD
• DOUBLE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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.
• Market conditions: 211 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.87% ✓
• Cap rate: 16.89%
• Cash-on-cash: 37.85%
• DSCR: 2.68
• GRM: 4.4

CMA / ARV

• ARV (median comp): $62,244
• List price: $54,900
• Delta: -11.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Cunningham St	0.17mi	2/1.0	783 (-1%)	2mo	$44,000	$56	89
126 Midland St	0.12mi	2/1.0	783 (-1%)	11mo	$75,000	$96	83
121 7th St	0.19mi	2/1.0	775 (-2%)	12mo	$55,000	$71	78
1482 Myrtle Ave	0.38mi	2/1.0	800 (+1%)	4mo	$75,000	$94	78
460 Locust Ln	0.18mi	2/1.0	750 (-5%)	10mo	$26,000	$35	75
1555 Myrtle Ave	0.35mi	2/1.0	832 (+5%)	11mo	$70,000	$84	66
1441 Myrtle Ave	0.39mi	2/1.0	874 (+10%)	3mo	$43,500	$50	62
2133 Spencer St	0.50mi	2/1.0	817 (+3%)	12mo	$65,000	$80	61
227 Jordan St	0.29mi	2/1.0	892 (+13%)	9mo	$55,000	$62	58
205 Sunset Dr	0.56mi	3/1.0 (+1)	775 (-2%)	12mo	$85,000	$110	56
2211 Spencer St	0.53mi	2/1.0	875 (+11%)	8mo	$75,000	$86	51
1233 Aspen St	0.49mi	2/1.0	672 (-15%)	15mo	$29,500	$44	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 2.43×
• Total profit: $21,971
• Equity at exit: $8,186

10-year hold

• IRR: 40.8%
• Equity multiple: 4.83×
• Total profit: $58,835
• Equity at exit: $4,747

Cash invested: $15,372 (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 24540

• Home prices YoY: -20.0%
• Active inventory: 211
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$288
• Tax from tax record: −$17 /mo · $208/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $485

Break-even live

Break-even rent $415

Max offer price $54,900

Occupancy floor 48%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 Lowell St Danville, VA	3.0	1.0	918	$1,050	$1.14	43d	1	0.15mi
224 Clement Ave Unit 2B Danville, VA	1.0	1.0	650	$850	$1.31	43d	1	0.50mi
117 Ida St Danville, VA	3.0	1.0	925	$1,163	$1.26	43d	1	0.75mi
1353 N Main St Apt 6 Danville, VA	2.0	1.0	850	$650	$0.76	43d	1	0.78mi
337 Audubon Dr Apt 22C Danville, VA	2.0	1.0	650	$750	$1.15	43d	1	0.86mi
335 Audubon Dr Apt 10B Danville, VA	2.0	1.0	650	$750	$1.15	43d	1	0.88mi
333 Audubon Dr Apt 17A Danville, VA	2.0	1.0	650	$750	$1.15	43d	1	0.91mi
442 Main St Unit 306 Danville, VA	1.0	1.0	660	$1,200	$1.82	43d	1	1.39mi
442 Main St Unit 207 Danville, VA	2.0	2.0	850	$1,500	$1.76	43d	1	1.39mi

Listing history 24 events

1. 2026-06-19
   days on market $54,900 Active 263 DOM
2. 2026-06-18
   days on market $54,900 Active 262 DOM
3. 2026-06-17
   days on market $54,900 Active 261 DOM
4. 2026-06-16
   days on market $54,900 Active 260 DOM
5. 2026-06-15
   price $54,900 Active 259 DOM
6. 2026-06-15
   days on market $60,000 Active 259 DOM
7. 2026-06-14
   days on market $60,000 Active 257 DOM
8. 2026-06-13
   days on market $60,000 Active 256 DOM
9. 2026-06-10
   days on market $60,000 Active 254 DOM
10. 2026-06-09
    days on market $60,000 Active 253 DOM
11. 2026-06-08
    days on market $60,000 Active 252 DOM
12. 2026-06-07
    days on market $60,000 Active 251 DOM
13. 2026-06-05
    days on market $60,000 Active 248 DOM
14. 2026-06-02
    statusdays on market $60,000 Active 246 DOM
15. 2026-06-01
    days on market $60,000 Active Under Contract 245 DOM
16. 2026-05-31
    days on market $60,000 Active Under Contract 244 DOM
17. 2026-05-30
    days on market $60,000 Active Under Contract 243 DOM
18. 2026-05-18
    historical Active Under Contract 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

19. 2026-01-28
    price $60,000 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

20. 2025-09-30
    listed $69,900 Active 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

21. 2024-12-30
    soldstatus $45,000
22. 2024-12-27
    soldstatus $45,000 Closed 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

23. 2024-12-04
    historical Active Under Contract 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

24. 2024-11-11
    listed $50,000 Active 216-char remark

    Show marketing remark (216 chars)

    Great Investment Potential. This 2BD 1BA home has rental potential. Large yard with double lot. This property could be updated and the investment could pay dividends for years to come. Don't pass this opportunity by.

ⓘ 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: $208 · $17/mo
• Projected year-2 tax: $450 · $38/mo
• Expected delta: +$242/yr (+$20/mo · 116.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $12,350
• − Mortgage interest: −$3,075
• − Property taxes: −$208
• − Insurance: −$274
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$1,597
• Taxable income: $5,219
• Est. tax owed @ 24.0%: −$1,252
• After-tax cash flow: $4,566/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: 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

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 · 59,055 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: 1170.0

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%

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%

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

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

+20.0% since first listed

7 events — show timeline

• 2026-05-18 Contingent — DRRAR
• 2026-01-28 Price Changed $60,000 DRRAR
• 2025-09-30 Listed $69,900 DRRAR
• 2024-12-30 Sold (Public Records) $45,000 Public Records
• 2024-12-27 Sold (MLS) $45,000 DRRAR
• 2024-12-04 Contingent — DRRAR
• 2024-11-11 Listed $50,000 DRRAR

Property tax history

+2.1%/yr

Latest (2025): $208 · +0.0% YoY. Source: county tax records.