688 Pegram Street, Petersburg, VA 23803
Local realty services provided by:Better Homes and Gardens Real Estate Base Camp
688 Pegram Street,Petersburg, VA 23803
$89,900
- 3 Beds
- 1 Baths
- 1,665 sq. ft.
- Single family
- Pending
Listed by: mike hogan
Office: the hogan group real estate
MLS#:2533837
Source:RV
Price summary
- Price:$89,900
- Price per sq. ft.:$53.99
About this home
Opportunity knocks for the savvy investor with this value-add property offering strong upside for both a flip or buy-and-hold strategy. This solidly built home features a flexible floorplan with plenty of square footage, allowing it to remain a true 4-bedroom, 1-bath layout or be thoughtfully reconfigured into a more modern and marketable 3-bedroom, 2 full-bath design. The existing footprint supports multiple renovation strategies, giving investors the freedom to optimize for resale or long-term rental performance. The exterior offers classic curb appeal with a covered front porch and a deep lot, while the rear includes a screened porch area that could be restored or repurposed into a desirable outdoor living feature. Inside, the home retains original finishes throughout, including wood paneling, dated flooring, and vintage fixtures, providing a clean slate for cosmetic or full-scale renovation. Living areas are generously sized with good natural light, making it easy to modernize while maintaining functional flow. The kitchen remains in original condition, ideal for a full redesign to maximize efficiency and value. Bedrooms are well-proportioned, and the existing bathroom presents an opportunity for a high-impact upgrade, especially if reworked into a two-bath configuration. From a systems standpoint, several major improvements are already in place, helping reduce upfront capital costs. The home features upgraded vinyl replacement windows (not new) and a heat pump system providing central air conditioning and heat. These updates allow you to focus renovation dollars where they matter most: layout, finishes, and overall presentation. Whether your strategy is a full renovation for resale or a strategic update for rental stabilization, this property offers the fundamentals investors look for, space, layout flexibility, and key mechanical upgrades. With the right vision and execution, this home has the potential to become a strong-performing asset and a profitable addition to your portfolio.
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Home facts
- Year built:1920
- Listing ID #:2533837
- Added:1 day(s) ago
- Updated:January 01, 2026 at 02:30 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:1
- Full bathrooms:1
- Living area:1,665 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Electric, Heat Pump
Structure and exterior
- Roof:Shingle
- Year built:1920
- Building area:1,665 sq. ft.
- Lot area:0.19 Acres
Schools
- High school:Petersburg
- Middle school:Vernon Johns
- Elementary school:Cool Spring
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$89,900
- Price per sq. ft.:$53.99
- Tax amount:$748 (2023)
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