280 Cheverly Dr · Christiansburg, VA 24073

$299,950

3 bd · 2.0 ba · 1,531 sqft · SingleFamily public records · 31 Days on market

Built 1964 0.34 ac lot $196/sqft · 24% below area Est $370k · 19% under ↓ 9% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.8/30.0
• Schools +5.4/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

In town living for this brick ranch home. Living room with gleaming wood flooring, dining area has access to back deck, kitchen has an abundance of cabinets & counterspace. An oversized primary bedroom with access to deck, WIC, private bath with double sinks & step in shower plus lots of natural light with the tall windows. The laundry room is just off the bedroom. Lots of storage in the basement, has 2 separate garage doors, great area for a workshop or rec room. More storage in the separate garage/building. Heat pump with oil backup. Wood furnace is also available for back up heat. An older, established neighborhood convenient to Huckleberry Park, shopping and eateries. You are home!

Key facts

• Lots of storage
• Access to back deck
• Natural light

Tags

• BRICK RANCH HOME
• ACCESS TO BACK DECK
• ABUNDANCE OF CABINETS
• NATURAL LIGHT
• LOTS OF STORAGE
• WORKSHOP OR REC ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (32.3% below list).
• Recommended offer: $203k (32.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.8% in Christiansburg — 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 81/100 on livability (#53 in VA, #1,452 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.1%/yr); 248 active listings in the ZIP; 7 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; solid renter incomes; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($77k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $203,127 (32.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.68% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• GRM: 12.3

CMA / ARV

• ARV (median comp): $370,229
• List price: $299,950
• Delta: -18.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
280 Cheverly Dr	0.00mi	3/2.0	1,443 (-6%)	0mo	$293,000	$203	90
140 Alexa Ln	0.13mi	3/2.0	1,310 (-14%)	8mo	$330,000	$252	63
1931 Dominion Dr	0.32mi	4/2.0 (+1)	1,608 (+5%)	11mo	$379,950	$236	62
130 Alexa Ln Ln	0.14mi	3/2.0	1,730 (+13%)	23mo	$387,500	$224	53
805 New Village Dr NW	0.58mi	4/3.0 (+1)	1,600 (+4%)	7mo	$355,000	$222	51
380 Walters Dr NW	0.57mi	3/2.0	1,710 (+12%)	7mo	$289,000	$169	48
45 Katie Ln	0.73mi	3/2.5	1,732 (+13%)	8mo	$405,000	$234	35
85 Meadow Dr	0.69mi	3/2.0	1,680 (+10%)	22mo	$350,000	$208	33
440 Windsor Dr	0.70mi	3/2.0	1,364 (-11%)	22mo	$343,000	$251	31
1753 Peppers Ferry Rd	0.75mi	3/2.0	1,696 (+11%)	20mo	$305,000	$180	30

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 · 1.05% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.18×
• Total profit: $-68,512
• Equity at exit: $44,724

10-year hold

• IRR: -25.5%
• Equity multiple: -0.14×
• Total profit: $-95,973
• Equity at exit: $25,934

Cash invested: $83,986 (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 24073

• Home prices YoY: -26.2%
• Rents YoY: 1.1%
• Active inventory: 248
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-250

Break-even live

Break-even rent $2,347

Max offer price $255,865

Occupancy floor —

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: $74,988
• Closing costs: $8,998
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
265 Lunaria Ln NW Christiansburg, VA	3.0	2.5	1276	$1,799	$1.41	44d	1	0.43mi
215 Lunaria Ln NW Christiansburg, VA	2.0	2.5	1276	$1,699	$1.33	44d	1	0.44mi
270 Lunaria Ln NW Christiansburg, VA	2.0	2.0	1276	$1,699	$1.33	44d	1	0.46mi
260 Lunaria Ln NW Christiansburg, VA	3.0	2.5	1276	$1,799	$1.41	44d	1	0.46mi
135 Aster Ln Christiansburg, VA	4.0	3.0	2100	$2,800	$1.33	44d	1	0.78mi
200 Meadow Dr Christiansburg, VA	3.0	2.5	1752	$2,100	$1.20	44d	1	0.81mi
120 Amber Cir NW Christiansburg, VA	3.0	3.5	1854	$1,850	$1.00	44d	1	1.28mi

Listing history 3 events

1. 2026-05-06
   status Pending 706-char remark

   Show marketing remark (706 chars)

   In town living for this brick ranch home. Living room with gleaming wood flooring, dining area has access to back deck, kitchen has an abundance of cabinets & counterspace. An oversized primary bedroom with access to deck, WIC, private bath with double sinks & step in shower plus lots of natural light with the tall windows. The laundry room is just off the bedroom. Lots of storage in the basement, has 2 separate garage doors, great area for a workshop or rec room. More storage in the separate garage/building. Heat pump with oil backup. Wood furnace is also available for back up heat. An older, established neighborhood convenient to Huckleberry Park, shopping and eateries. You are home!

2. 2026-04-29
   price $299,950 706-char remark

   Show marketing remark (706 chars)

   In town living for this brick ranch home. Living room with gleaming wood flooring, dining area has access to back deck, kitchen has an abundance of cabinets & counterspace. An oversized primary bedroom with access to deck, WIC, private bath with double sinks & step in shower plus lots of natural light with the tall windows. The laundry room is just off the bedroom. Lots of storage in the basement, has 2 separate garage doors, great area for a workshop or rec room. More storage in the separate garage/building. Heat pump with oil backup. Wood furnace is also available for back up heat. An older, established neighborhood convenient to Huckleberry Park, shopping and eateries. You are home!

3. 2026-04-05
   listed $329,500 Active 706-char remark

   Show marketing remark (706 chars)

   In town living for this brick ranch home. Living room with gleaming wood flooring, dining area has access to back deck, kitchen has an abundance of cabinets & counterspace. An oversized primary bedroom with access to deck, WIC, private bath with double sinks & step in shower plus lots of natural light with the tall windows. The laundry room is just off the bedroom. Lots of storage in the basement, has 2 separate garage doors, great area for a workshop or rec room. More storage in the separate garage/building. Heat pump with oil backup. Wood furnace is also available for back up heat. An older, established neighborhood convenient to Huckleberry Park, shopping and eateries. You are home!

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $2,460 · $205/mo
• Expected delta: +$584/yr (+$49/mo · 31.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,375
• − Mortgage interest: −$16,802
• − Property taxes: −$1,876
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$8,726
• Taxable loss: −$8,428
• Est. tax savings @ 24.0%: +$2,023
• After-tax cash flow: $-972/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: Montgomery County Public School District
• NCES district ID: 5102520
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 70% ▼ -11.00%
• Median HH income: $46,618
• Composite: 53.6/100
• National rank: #1440
• State rank: #47 of 131 in VA

Livability — Christiansburg

• Score: 81/100
• State rank: #53
• US rank: #1452

Category grades

Amenities F Commute A- Cost of living A+ Crime C Employment B+ Housing A+ Health & safety B+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Christiansburg, VA
• County: Montgomery County · 78,218 people
• City population: 29,677
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 29,677
• Household income: $76,800
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 861.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 105,748 people
• By 2030: 110,301 · +4.3%
• By 2040: 115,652 · +9.4%
• By 2050: 119,651 · +13.1%
• By 2075: 126,005 · +19.2%
• By 2100: 129,771 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 4% Hispanic / Latino 4% Asian 3%
• Common ancestry: Italian 3% Slovak 3% Serbian 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2% Korean 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 50.9% · R 47.4% · Other 1.7%
• 2008→2024 swing: -1.4pp toward R · 2008: 4.9pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+5.8 2016: D+1.3 2012: R+0.2 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.98%
• Current HPI: 267.2504
• Rent YoY: ▲ 1.05%
• Metro: Blacksburg-Christiansburg, 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

-9.0% since first listed

3 events — show timeline

• 2026-05-06 Pending — NRVMLS
• 2026-04-29 Price Changed $299,950 NRVMLS
• 2026-04-05 Listed $329,500 NRVMLS

Property tax history

+2.5%/yr

Latest (2025): $1,876 · +1.3% YoY. Source: county tax records.