1003 College St · Narrows, VA 24124

$99,400

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 50 Days on market

Built 1940 $115/sqft · 12% above area Est $89k · 12% over

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Why this score? — see what drove the C- 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 +18.4/30.0
• Appreciation +8.0/10.0
• DSCR +5.8/10.0
• Schools +5.2/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0

Listing remarks

Discover the opportunity to make this 1,364 sq ft, 2-bedroom, 1-bath home truly your own. Situated on a rare double lot in Narrows, this property offers space, privacy, and plenty of potential for customization. Inside, the home provides a solid layout and great potential for updates, making it an excellent opportunity for buyers looking to add their own style and build equity. One of the standout features is the rooftop patio--ready to be reimagined into a peaceful retreat or entertaining space with the right vision. Priced with improvements in mind, this property is ideal for investors, first-time buyers, or anyone looking for a home they can customize over time. Don't miss the chance to

Key facts

• Double lot
• Rooftop patio
• Solid layout

Tags

• DOUBLE LOT
• ROOFTOP PATIO
• SOLID LAYOUT

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Residential property; One-story
• Construction: Aluminum siding; Stone foundation; Built with metal roof
• Exterior features: Metal roof; Has a view

Interior

• Kitchen: Oven
• Flooring: Hardwood; Vinyl; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; No central cooling
• Interior features: Laminate counters; Wood-burning stove fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (13.5% below list).
• Recommended offer: $86k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#204 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Giles County Public School District (rural): math 56% / reading 68% proficiency, ranked #54 of 131 in VA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 25 units permitted in Giles County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($687 loan paydown + $6k appreciation (6.0% local appreciation)).
• Giles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $99k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,994 (13.5% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (median comp): $88,576
• List price: $99,400
• Delta: 12.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Northview St	0.13mi	3/1.0 (+1)	896 (+4%)	1mo	$57,000	$64	82
573 Poplar St	0.60mi	3/1.0 (+1)	936 (+8%)	14mo	$89,000	$95	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.25×
• Total profit: $34,736
• Equity at exit: $62,706

10-year hold

• IRR: 18.2%
• Equity multiple: 4.50×
• Total profit: $97,417
• Equity at exit: $113,905

Cash invested: $27,832 (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 24124

• Home prices YoY: 3.1%
• Active inventory: 41
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$521
• Tax from tax record: −$24 /mo · $292/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $92

Break-even live

Break-even rent $743

Max offer price $99,400

Occupancy floor 84%

Sensitivity live

Price	-10% $149	-5% $120	+0% $92	+5% $64	+10% $36
Rent	-10% $24	-5% $58	+0% $92	+5% $126	+10% $160
Rate	-1.0pp $142	-0.5pp $118	base $92	+0.5pp $67	+1.0pp $40

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: $24,850
• Closing costs: $2,982
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $99,400 Active 50 DOM
2. 2026-06-18
   days on market $99,400 Active 49 DOM
3. 2026-06-17
   days on market $99,400 Active 48 DOM
4. 2026-06-16
   days on market $99,400 Active 47 DOM
5. 2026-06-15
   days on market $99,400 Active 46 DOM
6. 2026-06-14
   days on market $99,400 Active 44 DOM
7. 2026-06-13
   days on market $99,400 Active 43 DOM
8. 2026-06-10
   days on market $99,400 Active 41 DOM
9. 2026-06-09
   days on market $99,400 Active 40 DOM
10. 2026-06-08
    days on market $99,400 Active 39 DOM
11. 2026-06-07
    days on market $99,400 Active 38 DOM
12. 2026-06-03
    days on market $99,400 Active 34 DOM
13. 2026-06-02
    days on market $99,400 Active 33 DOM
14. 2026-06-01
    days on market $99,400 Active 32 DOM
15. 2026-05-31
    days on market $99,400 Active 31 DOM
16. 2026-05-30
    days on market $99,400 Active 30 DOM
17. 2026-04-30
    listed $99,400 Active 747-char remark
18. 2002-08-23
    soldstatus $32,000

ⓘ 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: $292 · $24/mo
• Projected year-2 tax: $815 · $68/mo
• Expected delta: +$523/yr (+$44/mo · 178.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 9 d/yr ≥91°F today · 27 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $10,319
• − Mortgage interest: −$5,568
• − Property taxes: −$292
• − Insurance: −$497
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$2,892
• Taxable loss: −$581
• Est. tax savings @ 24.0%: +$139
• After-tax cash flow: $1,247/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: Giles County Public School District
• NCES district ID: 5101590
• Math proficiency: 56% ▼ -26.00%
• Reading proficiency: 68% ▼ -8.00%
• Median HH income: $45,394
• Composite: 52.25/100
• National rank: #1600
• State rank: #54 of 131 in VA

Livability — Narrows

• Score: 72/100
• State rank: #204
• US rank: #6289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Narrows, VA
• Population (ZIP): 4,177

Population outlook (Giles County) Hauer SSP2

• Today (2025): 15,868 people
• By 2030: 15,306 · -3.5%
• By 2040: 14,149 · -10.8%
• By 2050: 13,059 · -17.7%
• By 2075: 10,837 · -31.7%
• By 2100: 8,648 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Giles

• 2024 margin: Solid R (+54.5) · D 22.4% · R 76.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -16.3pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+51.4 2016: R+48.6 2012: R+25.6 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.04%
• Current HPI: 201.2028
• Rent YoY: —
• Metro: —
• 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

+210.6% since first listed

2 events — show timeline

• 2026-04-30 Listed $99,400 GVBOR
• 2002-08-23 Sold (Public Records) $32,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $292 · +0.0% YoY. Source: county tax records.