3024 East Side Hwy · Grottoes, VA 24441

$239,900

4 bd · 1.0 ba · 1,109 sqft · SingleFamily public records · 1 Days on market

Built 1950 1.14 ac lot $216/sqft · at area comps Est $249k · at est.

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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).

• Cash flow +11.8/30.0
• ARV discount +9.2/15.0
• Schools +5.3/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained, 4 bedroom home has had some updates in past including windows replaced, newer Electric Box, all exterior trim wrapped in aluminum, hot water heater, basement insulated ceiling, insulated back door, front storm door, well pump and holding tank replaced, lines replaced to septic tank, added additional railing at basement stairway. Seller just had septic pumped and distribution box and lines checked and proper functioning. Range & refrigerator 4 years+-. Features wood flooring, corner cabinetry in dining area and updated bath. Pump for washer and utility sink. Sold “as is”, should meet all lender requirements.

Key facts

• Covered front porch
• Brick exterior
• Double buildable lot

Tags

• CAPE COD STYLE
• BRICK EXTERIOR
• COVERED FRONT PORCH
• NEW ROOF
• DOUBLE BUILDABLE LOT
• PLENTY OF CABINET SPACE

Property features AI

Exterior

• Parking: Public road frontage
• Utilities: Cable available; Conventional sewer; Private well water
• Home design: Detached home; One and one-half stories; Walk-out basement
• Construction: Brick and stick-built construction; Block foundation; Architectural roof; Built area listed as 2,015 total with 1,109 above grade and 906 below grade (public records)
• Exterior features: Front porch; Porch; Garden

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Two bedrooms — one on the main level and one on the second level
• Flooring: Hardwood floors; Laminate floors
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Oil-fired heating
• Interior features: Primary bedroom on the main level; Full, unfinished walk-out basement
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-68 ($-811/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (28.0% below list).
• Recommended offer: $173k (28.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#173 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Augusta County Public School District (rural): math 55% / reading 69% proficiency, ranked #52 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: S. Gordon Stewart Middle (math 50% / reading 74%, grade B+, #143 of 342 statewide, top 43%, 502 students, 47% FRL); Fort Defiance High (math 72% / reading 77%, grade B+, #107 of 319 statewide, top 37%, 727 students, 41% FRL).
• Market conditions: 40 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,811 (28.0% 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. Built in 1950 — 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. 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?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (median comp): $249,239
• List price: $239,900
• Delta: -3.75%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3024 East Side Hwy	0.00mi	4/1.0	1,109 (0%)	1mo	$239,900	$216	99

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-43,292
• Equity at exit: $35,770

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-43,699
• Equity at exit: $20,742

Cash invested: $67,172 (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 24441

• Home prices YoY: -26.6%
• Active inventory: 40
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,728 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$75 /mo · $898/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-68

Break-even live

Break-even rent $1,814

Max offer price $227,957

Occupancy floor 99%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-08
   status Pending 582-char remark
2. 2026-05-07
   listed $239,900 Active 582-char remark
3. 2017-05-24
   soldstatus $130,000
4. 2017-05-22
   soldstatus $130,000 651-char remark

   Show marketing remark (651 chars)

   Well maintained, 4 bedroom home has had some updates in past including windows replaced, newer Electric Box, all exterior trim wrapped in aluminum, hot water heater, basement insulated ceiling, insulated back door, front storm door, well pump and holding tank replaced, lines replaced to septic tank, added additional railing at basement stairway. Seller just had septic pumped and distribution box and lines checked and proper functioning. Range & refrigerator 4 years+-. Features wood flooring, corner cabinetry in dining area and updated bath. Pump for washer and utility sink. Sold “as is”, should meet all lender requirements.

5. 2017-03-17
   listed $130,000 651-char remark

   Show marketing remark (651 chars)

   Well maintained, 4 bedroom home has had some updates in past including windows replaced, newer Electric Box, all exterior trim wrapped in aluminum, hot water heater, basement insulated ceiling, insulated back door, front storm door, well pump and holding tank replaced, lines replaced to septic tank, added additional railing at basement stairway. Seller just had septic pumped and distribution box and lines checked and proper functioning. Range & refrigerator 4 years+-. Features wood flooring, corner cabinetry in dining area and updated bath. Pump for washer and utility sink. Sold “as is”, should meet all lender requirements.

ⓘ 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: $898 · $75/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,070/yr (+$89/mo · 119.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $20,737
• − Mortgage interest: −$13,438
• − Property taxes: −$898
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$6,979
• Taxable loss: −$5,095
• Est. tax savings @ 24.0%: +$1,223
• After-tax cash flow: $411/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: Augusta County Public School District
• NCES district ID: 5100300
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $53,562
• Composite: 53.02/100
• National rank: #1521
• State rank: #52 of 131 in VA

Livability — Grottoes

• Score: 73/100
• State rank: #173
• US rank: #5391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,376

Population outlook (Augusta County) Hauer SSP2

• Today (2025): 77,558 people
• By 2030: 78,389 · +1.1%
• By 2040: 78,629 · +1.4%
• By 2050: 77,171 · -0.5%
• By 2075: 74,455 · -4.0%
• By 2100: 65,077 · -16.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Black 3%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Augusta

• 2024 margin: Solid R (+47.5) · D 25.8% · R 73.3%
• 2008→2024 swing: -7.7pp toward R · 2008: -39.9pp · 2024: -47.5pp
• All cycles: 2024: R+47.5 2020: R+47.0 2016: R+49.2 2012: R+42.1 2008: R+39.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.23%
• Current HPI: 215.9927
• 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

+84.5% since first listed

6 events — show timeline

• 2026-05-22 Sold (MLS) $239,900 GAAR
• 2026-05-08 Pending — GAAR
• 2026-05-07 Listed $239,900 GAAR
• 2017-05-24 Sold (Public Records) $130,000 Public Records
• 2017-05-22 Sold (MLS) $130,000 GAAR
• 2017-03-17 Listed $130,000 GAAR

Property tax history

+1.9%/yr

Latest (2026): $898 · +0.0% YoY. Source: county tax records.