5818 Lee Jackson Hwy · Greenville, VA 24440

$209,000

3 bd · 2.0 ba · 2,165 sqft · SingleFamily public records · 225 Days on market

Built 1910 2.00 ac lot $97/sqft · 41% below area Est $353k · 41% under ↓ 9% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.5/30.0
• Appreciation +8.3/10.0
• Schools +5.3/10.0
• Livability +3.4/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

SAVE THIS HOUSE! Tucked in a private valley with farmland all around and Blue Ridge views out front, this 1910 farmhouse is ready for resurrection. Think: metal roof, big front porch, side sleeping porch, hardwood floors, spring-fed water, and barns/outbuildings that speak to its working-farm history. Quirky and cool—its original orientation faced the old rail line (you can still hear trains drift by). ~2 acres (+/-) in the Riverheads School District. Yes, it’s a major rehab, but the payoff—equity, character, and pride—is worth it. Contractors, preservationists, and homesteaders: bring vision, tools, and a plan. RESURRECTION, indeed. Some AI rendering photos included so one can envision a finished product. .

Key facts

• Spring-fed water
• Metal roof
• Big front porch

Tags

• BLUE RIDGE VIEWS
• METAL ROOF
• BIG FRONT PORCH
• SIDE SLEEPING PORCH
• HARDWOOD FLOORS
• SPRING-FED WATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (30.5% below list).
• Recommended offer: $145k (30.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#272 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, 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.
• Market conditions: 11 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (6.6% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,231 (30.5% 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 225 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.69% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.16%
• DSCR: 0.90
• GRM: 12.0

CMA / ARV

• ARV (median comp): $353,342
• List price: $209,000
• Delta: -40.85%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Spotswood Rd	0.46mi	3/2.0	2,218 (+2%)	13mo	$406,000	$183	64

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

Projected returns pro-forma

6.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.05×
• Total profit: $61,169
• Equity at exit: $139,509

10-year hold

• IRR: 15.1%
• Equity multiple: 4.13×
• Total profit: $183,259
• Equity at exit: $260,319

Cash invested: $58,520 (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 24440

• Home prices YoY: 2.7%
• Active inventory: 11
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,452 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-105

Break-even live

Break-even rent $1,586

Max offer price $190,378

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $209,000 Active 225 DOM
2. 2026-06-18
   days on market $209,000 Active 224 DOM
3. 2026-06-17
   days on market $209,000 Active 223 DOM
4. 2026-06-16
   days on market $209,000 Active 222 DOM
5. 2026-06-15
   days on market $209,000 Active 221 DOM
6. 2026-06-14
   days on market $209,000 Active 219 DOM
7. 2026-06-13
   days on market $209,000 Active 218 DOM
8. 2026-06-10
   days on market $209,000 Active 216 DOM
9. 2026-06-09
   days on market $209,000 Active 215 DOM
10. 2026-06-08
    days on market $209,000 Active 214 DOM
11. 2026-06-07
    days on market $209,000 Active 213 DOM
12. 2026-06-05
    days on market $209,000 Active 210 DOM
13. 2026-06-03
    days on market $209,000 Active 209 DOM
14. 2026-06-02
    pricedays on market $209,000 Active 208 DOM
15. 2026-06-01
    days on market $215,000 Active 207 DOM
16. 2026-05-31
    days on market $215,000 Active 206 DOM
17. 2026-05-30
    days on market $215,000 Active 205 DOM
18. 2025-11-25
    price $215,000 741-char remark

    Show marketing remark (741 chars)

    SAVE THIS HOUSE! Tucked in a private valley with farmland all around and Blue Ridge views out front, this 1910 farmhouse is ready for resurrection. Think: metal roof, big front porch, side sleeping porch, hardwood floors, spring-fed water, and barns/outbuildings that speak to its working-farm history. Quirky and cool—its original orientation faced the old rail line (you can still hear trains drift by). ~2 acres (+/-) in the Riverheads School District. Yes, it’s a major rehab, but the payoff—equity, character, and pride—is worth it. Contractors, preservationists, and homesteaders: bring vision, tools, and a plan. RESURRECTION, indeed. Some AI rendering photos included so one can envision a finished product. .

19. 2025-11-12
    listed $235,000 Active 718-char remark

    Show marketing remark (718 chars)

    SAVE THIS HOUSE! Tucked in a private valley with farmland all around and Blue Ridge views out front, this 1910 farmhouse is ready for resurrection. Think: metal roof, big front porch, side sleeping porch, hardwood floors, spring-fed water, and barns/outbuildings that speak to its working-farm history. Quirky and cool--its original orientation faced the old rail line (you can still hear trains drift by). ~2 acres (+/-) in the Riverheads School District. Yes, it's a major rehab, but thepayoff--equity, character, and pride--is worth it. Contractors, preservationists, and homesteaders: bring vision, tools, and a plan. RESURRECTION, indeed. Some AIrendering photos included so one can envision a finished product. .

20. 2025-11-06
    listed $235,000 Active 741-char remark

    Show marketing remark (741 chars)

    SAVE THIS HOUSE! Tucked in a private valley with farmland all around and Blue Ridge views out front, this 1910 farmhouse is ready for resurrection. Think: metal roof, big front porch, side sleeping porch, hardwood floors, spring-fed water, and barns/outbuildings that speak to its working-farm history. Quirky and cool—its original orientation faced the old rail line (you can still hear trains drift by). ~2 acres (+/-) in the Riverheads School District. Yes, it’s a major rehab, but the payoff—equity, character, and pride—is worth it. Contractors, preservationists, and homesteaders: bring vision, tools, and a plan. RESURRECTION, indeed. Some AI rendering photos included so one can envision a finished product. .

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $1,714 · $143/mo
• Expected delta: +$878/yr (+$73/mo · 105.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,428
• − Mortgage interest: −$11,707
• − Property taxes: −$836
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$6,080
• Taxable loss: −$5,029
• Est. tax savings @ 24.0%: +$1,207
• After-tax cash flow: $-58/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 — Greenville

• Score: 68/100
• State rank: #272
• US rank: #9751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,496
• Population (ZIP): 2,496

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 (94%)
• Race & ethnicity: White 94% Black 5% Two or more races 1%
• Common ancestry: Serbian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

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: ▲ 6.61%
• Current HPI: 252.0091
• 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

-8.5% since first listed

3 events — show timeline

• 2025-11-25 Price Changed $215,000 GAAR
• 2025-11-12 Listed $235,000 RHR
• 2025-11-06 Listed $235,000 GAAR

Property tax history

+4.5%/yr

Latest (2025): $836 · -16.6% YoY. Source: county tax records.