756 Shawnee Ave · Big Stone Gap, VA 24219

$13,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 20 Days on market

0.30 ac lot $15/sqft · 83% below area ↓ 13% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this fixer-upper situated on approximately 0.3 acres with beautiful mountain views! Priced to sell! This property offers endless potential for investors, builders, or anyone looking for an affordable project. The existing home is currently uninhabitable and will require extensive repairs to restore, making it ideal for those looking to renovate from the ground up. Prefer a fresh start? Tear down the current structure and build your dream home, cabin getaway, or place a mobile home on the property. Enjoy the peaceful setting, scenic surroundings, and mountain views while still having convenient access to nearby amenities. Whether you're searching for your next investm

Key facts

• Extensive repairs
• Affordable project
• Peaceful setting

Tags

• MOUNTAIN VIEWS
• PEACEFUL SETTING
• SCENIC SURROUNDINGS
• FIXER-UPPER
• AFFORDABLE PROJECT
• EXTENSIVE REPAIRS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Vinyl siding; Other exterior materials; Metal roof
• Exterior features: Sloped topography

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: 7 total rooms; Block basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $13k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($775 rent vs $13k).
• Recommended offer: $13k (1.5% below list) — sets the bar for market timing.
• Cap rate 54.8% vs local median 3.3% in Big Stone Gap — 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 68/100 on livability (#279 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Wise County Public School District (town): math 74% / reading 79% proficiency, ranked #11 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Union Primary (math 72% / reading 79%, grade A, #207 of 1,108 statewide, top 19%, 861 students, 84% FRL); Union Middle (math 58% / reading 70%, grade B+, #127 of 342 statewide, top 37%, 583 students, 89% FRL); Union High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 601 students, 86% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 41 active listings in the ZIP; 17 units permitted in Wise County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $90 of loan paydown is wiped out by about $390 of value loss. Plan a longer hold.
• Wise County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Recommended offer $12,805 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 5.96% ✓
• Cap rate: 54.76%
• Cash-on-cash: 173.09%
• DSCR: 8.70
• GRM: 1.4

CMA / ARV

• ARV (median comp): $212,891
• List price: $13,000
• Delta: -93.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2209 Carter St	0.64mi	3/1.0	888 (+1%)	12mo	$91,000	$102	59

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: —
• Equity multiple: 9.61×
• Total profit: $31,344
• Equity at exit: $1,938

10-year hold

• IRR: —
• Equity multiple: 20.34×
• Total profit: $70,395
• Equity at exit: $1,124

Cash invested: $3,640 (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 24219

• Home prices YoY: -24.6%
• Active inventory: 41
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $775 medium
• Mortgage (P&I): −$68
• Tax from tax record: −$14 /mo · $167/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $525

Break-even live

Break-even rent $111

Max offer price $13,000

Occupancy floor 27%

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: $3,250
• Closing costs: $390
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   listed $13,000 Active 785-char remark
2. 1994-05-12
   soldstatus $15,000

ⓘ 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: $167 · $14/mo
• Projected year-2 tax: $167 · $14/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 23 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: $9,305
• − Mortgage interest: −$728
• − Property taxes: −$167
• − Insurance: −$65
• − Repairs & maintenance: −$744
• − Management: −$744
• − Depreciation: −$378
• Taxable income: $6,477
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $4,746/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: Wise County Public School District
• NCES district ID: 5104080
• Math proficiency: 74% ▼ -20.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $35,624
• Composite: 63.37/100
• National rank: #625
• State rank: #11 of 131 in VA

Livability — Big Stone Gap

• Score: 68/100
• State rank: #279
• US rank: #10035

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Stone Gap, VA
• Population (ZIP): 10,416

Population outlook (Wise County) Hauer SSP2

• Today (2025): 35,714 people
• By 2030: 33,742 · -5.5%
• By 2040: 29,870 · -16.4%
• By 2050: 26,233 · -26.5%
• By 2075: 18,296 · -48.8%
• By 2100: 12,147 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 10% Two or more races 3%
• Common ancestry: Slovak 3% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Wise

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -35.6pp toward R · 2008: -27.7pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+61.7 2016: R+62.0 2012: R+48.8 2008: R+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.21%
• Current HPI: 144.2927
• 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

-13.3% since first listed

3 events — show timeline

• 2026-05-27 Pending — TVRMLS
• 2026-05-06 Listed $13,000 TVRMLS
• 1994-05-12 Sold (Public Records) $15,000 Public Records

Property tax history

-6.0%/yr

Latest (2025): $167 · +0.0% YoY. Source: county tax records.