Northside bungalow, tenant-occupied at below market
31XX Barton Ave · Richmond, VA 23222 · Richmond City County
Front elevation
1 / 6Asking price
$154,000
ARV range
$215K–$232K
Repairs
$18K–$26K
Discount to ARV
31.1%
Projected profit
$20,935
ROI
11.2%
Cap rate
7.0%
Cash-on-cash
4.5%
Risk flags and disclosures
Surfaced automatically from the listing data. Confirm every item during your own diligence.
Rent is below market
Underwriting to market rent requires either a renewal negotiation or turnover.
- Tenant is month-to-month. Virginia notice requirements apply for any rent adjustment.
Underwrite this deal
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Maximum allowable offer
$132,250
Asking price is $22K above your rule.
Total basis
$186,920
Selling costs
$15,645
Holding costs
$1,440
Contingency
$2,200
Net profit
$20,935
ROI
11.2%
Annualized ROI
44.8%
Break-even sale price
$200,989
Modeled projections for demonstration only. They are not an appraisal, a guarantee of returns, or investment advice.
Long-term tenant paying $1,225 on a month-to-month arrangement, roughly $350 under market for the block. Systems were serviced two years ago. This is a stabilized hold with a rent-to-market path rather than a heavy renovation play.
Beds / baths
3 / 1
Square feet
1,180
Lot size
5,200 sqft
Year built
1948
Units
1
Occupancy
Tenant Occupied
Market rent
$1,575/mo
Taxes
$155/mo
Access
Tenant occupied — interior access at contract
Highlights
- Below-market rent with a documented payment history
- Roof and HVAC both under seven years old
- Off-street parking and fenced rear yard
Known repairs
- Exterior paint
- Bathroom vanity and tile
- Landscaping and fence repair
Deal structure
Direct-to-seller. Owner has held the property since 2011.