162 Hazelnut Ln · Rural Retreat, VA 24368

$199,500

3 bd · 2.0 ba · 1,768 sqft · Manufactured · 48 Days on market

Built 2000 1.96 ac lot $113/sqft · 11% below area Est $225k · 11% under ↓ 5% 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).

• ARV discount +12.6/15.0
• Cash flow +8.1/30.0
• Schools +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks MLS

MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

Key facts

• Covered front porch
• Jet tub
• Rock fireplace

Tags

• ROCK FIREPLACE
• COVERED FRONT PORCH
• COVERED SIDE PORCH
• UPDATED KITCHEN
• WALK IN SHOWER
• JET TUB

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Private well water; Septic tank; Propane
• Home design: Single-story manufactured home
• Construction: Vinyl siding
• Exterior features: Metal roof; Cleared, level lot; Shed(s); Horses allowed

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Laminate; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Heat pump; Central air conditioning; Ceiling fans
• Interior features: Insulated windows; Gas log fireplace (1); Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (24.9% below list).
• Recommended offer: $150k (24.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#134 in VA, #4,304 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Rural Retreat Elementary (math 72% / reading 82%, grade A, #171 of 1,108 statewide, top 17%, 362 students, 75% FRL); Rural Retreat Middle (math 73% / reading 80%, grade A, #40 of 342 statewide, top 12%, 231 students, 75% FRL); Rural Retreat High (math 67% / reading 87%, grade A-, #90 of 319 statewide, top 30%, 312 students, 74% FRL) — zoned schools average 75% FRL vs 41% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $132 appreciation (0.1% local appreciation)).
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.
• Current owner paid $170k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $149,844 (24.9% 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 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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: 0.75% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 11.1

CMA / ARV

• ARV (median comp): $225,029
• List price: $199,500
• Delta: -11.34%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

0.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.68×
• Total profit: $-17,607
• Equity at exit: $58,590

10-year hold

• IRR: -0.7%
• Equity multiple: 0.92×
• Total profit: $-4,350
• Equity at exit: $70,958

Cash invested: $55,860 (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 24368

• Home prices YoY: 0.0%
• Active inventory: 43
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,498 medium
• Mortgage (P&I): −$1,046
• Tax est. 1.5%: −$249 /mo · $2,992/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-195

Break-even live

Break-even rent $1,745

Max offer price $171,293

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-126	+0% $-195	+5% $-264	+10% $-333
Rent	-10% $-313	-5% $-254	+0% $-195	+5% $-136	+10% $-77
Rate	-1.0pp $-94	-0.5pp $-144	base $-195	+0.5pp $-247	+1.0pp $-299

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $199,500 Active 48 DOM
2. 2026-06-21
   days on market $199,500 Active 47 DOM
3. 2026-06-18
   days on market $199,500 Active 45 DOM
4. 2026-06-17
   days on market $199,500 Active 44 DOM
5. 2026-06-16
   days on market $199,500 Active 43 DOM
6. 2026-06-15
   days on market $199,500 Active 42 DOM
7. 2026-06-15
   days on market $199,500 Active 41 DOM
8. 2026-06-13
   days on market $199,500 Active 40 DOM
9. 2026-06-12
   days on market $199,500 Active 39 DOM
10. 2026-06-09
    days on market $199,500 Active 36 DOM
11. 2026-06-08
    days on market $199,500 Active 35 DOM
12. 2026-06-08
    days on market $199,500 Active 34 DOM
13. 2026-06-07
    days on market $199,500 Active 33 DOM
14. 2026-06-03
    days on market $199,500 Active 30 DOM
15. 2026-06-02
    days on market $199,500 Active 29 DOM
16. 2026-06-02
    status $199,500 Active 28 DOM
17. 2026-06-01
    days on market $199,500 Active Under Contract 28 DOM
18. 2026-05-31
    days on market $199,500 Active Under Contract 27 DOM
19. 2026-05-18
    historical Active Under Contract 686-char remark
20. 2026-05-15
    status Active 686-char remark
21. 2026-05-12
    historical Active Under Contract 686-char remark
22. 2026-05-04
    listed $199,500 Active 686-char remark
23. 2025-04-07
    soldstatus $170,000 Closed 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

24. 2025-03-20
    status Pending 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

25. 2025-01-27
    price $195,000 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

26. 2024-11-10
    price $200,000 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

27. 2024-10-12
    price $209,000 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

28. 2024-08-30
    listed $210,000 Active 730-char remark

    Show marketing remark (730 chars)

    MOTIVATED SELLER!!! Take a look at this beautiful, modern, very well-kept Manufactured Home! This 3-Bedroom, 2-Bathroom home features a Master Suite with a fireplace and located just in the master bath is a lovely spa tub to relax and soak after a long day. The spacious layout of the living room with a nice fireplace gives this home a cozy feeling. The covered front porch offers a nice shade while enjoying a good cup of coffee early in the morning. The kitchen offers plenty of cabinetry and all the appliances you will need. Plenty of space in the yard and back yard to enjoy some outside leisure in the quietness of the country. You don’t want to miss out on this sweet oasis!! SD Meadow Ridge Estates, horses allowed.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $17,981
• − Mortgage interest: −$11,175
• − Property taxes: −$2,992
• − Insurance: −$998
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$5,804
• Taxable loss: −$5,864
• Est. tax savings @ 24.0%: +$1,407
• After-tax cash flow: $-932/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: 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 — Rural Retreat

• Score: 75/100
• State rank: #134
• US rank: #4304

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

• Population (ZIP): 5,372

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 (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 3%

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: ▲ 0.07%
• Current HPI: 188.0572
• 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

-5.0% since first listed

11 events — show timeline

• 2026-06-01 Relisted — SWVAR
• 2026-05-18 Contingent — SWVAR
• 2026-05-15 Relisted — SWVAR
• 2026-05-12 Contingent — SWVAR
• 2026-05-04 Listed $199,500 SWVAR
• 2025-04-07 Sold (MLS) $170,000 NRVMLS
• 2025-03-20 Pending — NRVMLS
• 2025-01-27 Price Changed $195,000 NRVMLS
• 2024-11-10 Price Changed $200,000 NRVMLS
• 2024-10-12 Price Changed $209,000 NRVMLS
• 2024-08-30 Listed $210,000 NRVMLS