185 185 Coxs Trailer Park Rd · Wytheville, VA 24382

$85,000

3 bd · 2.0 ba · 1,152 sqft · MultiFamily · 31 Days on market

Built 1991 Poor condition 2.11 ac lot ↓ 14% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor Opportunity with Major Potential! This unique property offers a rare chance to transform a former mobile home park into a valuable investment. Situated on approximately 2 acres less than a mile out of Wytheville town limits, the property includes a 1991 doublewide that has been partially gutted, providing the perfect starting point for a renovation project. The property also features 9 existing mobile home lots/slips, creating significant potential for future income once the site is refreshed and redeveloped. The existing mobile homes on the property will need to be removed to create a clean slate, allowing the next owner to fully reimagine and optimize the space. Whether you choose to renovate the doublewide and enjoy a spacious 2-acre homesite, or clear and prepare the property to reintroduce mobile homes and revive the park, this property offers a variety of investment possibilities. Being sold as-is, where-is, this is an ideal opportunity for investors, developers, or buyers looking for a project with strong upside potential.

Key facts

• 2 acres
• 1991 doublewide
• 2.11 acre lot

Tags

• 1991 DOUBLEWIDE
• 9 EXISTING MOBILE HOME LOTS
• 2 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $85k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 4.3% in Wytheville — 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 76/100 on livability (#116 in VA, #3,571 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools A; Watch: employment D, amenities F, commute F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 155 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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

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

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.69% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.44%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.5%
• Equity multiple: 1.88×
• Total profit: $20,914
• Equity at exit: $12,674

10-year hold

• IRR: 29.6%
• Equity multiple: 3.64×
• Total profit: $62,938
• Equity at exit: $7,349

Cash invested: $23,800 (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 24382

• Home prices YoY: -25.7%
• Active inventory: 155
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,433 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $544

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 57%

Sensitivity live

Price	-10% $603	-5% $574	+0% $544	+5% $515	+10% $486
Rent	-10% $431	-5% $488	+0% $544	+5% $601	+10% $657
Rate	-1.0pp $587	-0.5pp $566	base $544	+0.5pp $522	+1.0pp $500

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-16
   status Pending 1054-char remark

   Show marketing remark (1054 chars)

   Investor Opportunity with Major Potential! This unique property offers a rare chance to transform a former mobile home park into a valuable investment. Situated on approximately 2 acres less than a mile out of Wytheville town limits, the property includes a 1991 doublewide that has been partially gutted, providing the perfect starting point for a renovation project. The property also features 9 existing mobile home lots/slips, creating significant potential for future income once the site is refreshed and redeveloped. The existing mobile homes on the property will need to be removed to create a clean slate, allowing the next owner to fully reimagine and optimize the space. Whether you choose to renovate the doublewide and enjoy a spacious 2-acre homesite, or clear and prepare the property to reintroduce mobile homes and revive the park, this property offers a variety of investment possibilities. Being sold as-is, where-is, this is an ideal opportunity for investors, developers, or buyers looking for a project with strong upside potential.

2. 2026-03-16
   listed $85,000 Active 1054-char remark

   Show marketing remark (1054 chars)

   Investor Opportunity with Major Potential! This unique property offers a rare chance to transform a former mobile home park into a valuable investment. Situated on approximately 2 acres less than a mile out of Wytheville town limits, the property includes a 1991 doublewide that has been partially gutted, providing the perfect starting point for a renovation project. The property also features 9 existing mobile home lots/slips, creating significant potential for future income once the site is refreshed and redeveloped. The existing mobile homes on the property will need to be removed to create a clean slate, allowing the next owner to fully reimagine and optimize the space. Whether you choose to renovate the doublewide and enjoy a spacious 2-acre homesite, or clear and prepare the property to reintroduce mobile homes and revive the park, this property offers a variety of investment possibilities. Being sold as-is, where-is, this is an ideal opportunity for investors, developers, or buyers looking for a project with strong upside potential.

3. 2025-07-22
   status Active
4. 2025-05-14
   status Active
5. 2025-05-07
   historical
6. 2025-04-28
   status Pending
7. 2025-04-17
   listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,190
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$2,473
• Taxable income: $5,506
• Est. tax owed @ 24.0%: −$1,321
• After-tax cash flow: $5,210/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.

Condition & rehab AI · 13 photos

Poor 20/100 Gut rehab

This property presents a significant opportunity for renovation and redevelopment. The partially gutted units and poor exterior condition suggest a need for extensive work, but the potential for increased value through a complete renovation and landscaping improvements is substantial.

Repairs flagged

• Major roof — The roof of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.
• Major exterior siding — The exterior siding of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.
• Major interior walls — The interior of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.
• Major flooring — The flooring of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.
• Major HVAC/mechanicals — The HVAC/mechanicals of the partially gutted units are not visible, but the exterior suggests a need for extensive renovation.

Value-add opportunities

• Both Complete renovation of the partially gutted units — A complete renovation would significantly increase the property's value for both resale and rental purposes.
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal would enhance the property's visual appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.	Major	$15,000–50,000
exterior siding · The exterior siding of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.	Major	$15,000–50,000
interior walls · The interior of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.	Major	$15,000–50,000
flooring · The flooring of the partially gutted units is not visible, but the exterior suggests a need for extensive renovation.	Major	$15,000–50,000
HVAC/mechanicals · The HVAC/mechanicals of the partially gutted units are not visible, but the exterior suggests a need for extensive renovation.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Complete renovation of the partially gutted units — A complete renovation would significantly increase the property's value for both resale and rental purposes. ↑
• Both Landscaping and curb appeal improvements — Improving the landscaping and curb appeal would enhance the property's visual appeal and attract potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Wytheville

• Score: 76/100
• State rank: #116
• US rank: #3571

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,751
• Population (ZIP): 14,751

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 191.6387
• 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

-14.1% since first listed

7 events — show timeline

• 2026-04-16 Pending — SWVAR
• 2026-03-16 Listed $85,000 SWVAR
• 2025-07-22 Relisted — NRVMLS
• 2025-05-14 Relisted — NRVMLS
• 2025-05-07 Delisted — NRVMLS
• 2025-04-28 Pending — NRVMLS
• 2025-04-17 Listed $99,000 NRVMLS