Flats on Wythe sits at the southern edge of Old Towne Petersburg, converted in 2012 from the 1908 Duncan M. Brown Grammar School. Original maple floors, tall schoolhouse windows, granite and stainless kitchens and in-unit laundry sit behind a masonry shell that has already absorbed its heavy capital. The twelve months ended July 2026 collected $261,079 against $121,085 of property-level operating expense before real estate taxes, for $139,994 of net operating income before taxes — 9.2% above the trailing year ended February 2025. Collections have risen in each of the last three trailing periods. All nineteen units are leased and every lease rolls within twelve months, so the rent roll re-prices in a single cycle. Nine leases were signed or renewed in 2026 between $895 and $1,295 against an in-place average of $1,174 — the basis for a Year 1 pro forma NOI of $151,621 before real estate taxes, with no renovation program.