223 High St W · Woodstock, VA 22664

$195,000

2 bd · 1.5 ba · 1,124 sqft · SingleFamily public records · 3 Days on market

Built 1912 3,484 sqft lot Est $289k · 32% under

---

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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.5/10.0
• Schools +4.4/10.0
• Appreciation +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Why rent when you can own this charming 2 bedroom, 1 full bath home in Woodstock? Enjoy falling asleep to the soothing sound of rain on the metal roof while taking advantage of the many updates completed over the years including vinyl siding, replacement windows, an updated front porch, new carpet in the upstairs bedrooms, new living room flooring, and replacement of the rear portion of the roof. Previously used as a rental, this property offers a low maintenance yard and exterior, plus an outbuilding for extra storage, all conveniently located close to everything Woodstock has to offer. Agent Related.

Key facts

• Metal roof
• New carpet
• Vinyl siding

Tags

• METAL ROOF
• VINYL SIDING
• REPLACEMENT WINDOWS
• UPDATED FRONT PORCH
• NEW CARPET
• NEW LIVING ROOM FLOORING

Property features AI

Exterior

• Parking: Off-street parking with two spaces (total 2 garage/parking spaces)
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Metal roof; Effective year of major remodel: 2022; Fee simple ownership
• Construction: Frame construction; Other foundation
• Exterior features: Detached single-family structure; No basement; Municipal trash service

Interior

• Bedrooms: Two bedrooms on the upper level
• Flooring: Carpet; Laminate plank
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric baseboard heating; Window air conditioning units
• Interior features: Level entry to main living area; Not furnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (4.8% below list).
• Recommended offer: $186k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.2% in Woodstock — 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 79/100 on livability (#70 in VA, #2,185 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: amenities F, commute F.
• Shenandoah County Public School District (town): math 46% / reading 58% proficiency, ranked #91 of 131 in VA (top 70%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: W.W. Robinson Elementary (math 53% / reading 49%, grade C-, #733 of 1,108 statewide, top 66%, 1,061 students, 74% FRL); Peter Muhlenberg Middle (math 33% / reading 57%, grade D, #274 of 342 statewide, top 81%, 451 students, 73% FRL); Central High (math 46% / reading 66%, grade C, #275 of 319 statewide, top 87%, 749 students, 73% FRL) — zoned schools average 73% FRL vs 37% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 56 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 224 units permitted in Shenandoah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.9%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shenandoah County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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 $165k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,726 (4.8% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.95% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $288,868
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 Massanutten Hts	0.22mi	2/1.0	1,053 (-6%)	4mo	$269,000	$255	74
136 S Water St	0.31mi	3/2.0 (+1)	1,040 (-8%)	1mo	$269,000	$259	66
344 N Lee St	0.42mi	2/1.0	1,152 (+2%)	15mo	$230,000	$200	62
348 Logan Cir	0.47mi	3/2.0 (+1)	1,116 (-1%)	20mo	$290,000	$260	53
301 S Church St	0.27mi	3/3.0 (+1)	1,280 (+14%)	4mo	$328,400	$257	50
520 Washington St	0.29mi	3/1.0 (+1)	1,027 (-9%)	18mo	$260,000	$253	50
756 Spring Pkwy	0.66mi	3/1.0 (+1)	1,056 (-6%)	6mo	$250,000	$237	47
737 Ox Rd	0.65mi	3/2.0 (+1)	1,166 (+4%)	20mo	$300,000	$257	40
511 Morrison Dr	0.72mi	3/2.0 (+1)	1,200 (+7%)	22mo	$310,000	$258	30

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

Projected returns pro-forma

-1.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.94×
• Total profit: $-3,237
• Equity at exit: $38,430

10-year hold

• IRR: 6.4%
• Equity multiple: 1.55×
• Total profit: $30,001
• Equity at exit: $33,376

Cash invested: $54,600 (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 22664

• Home prices YoY: -0.6%
• Active inventory: 56
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,857 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $309

Break-even live

Break-even rent $1,467

Max offer price $195,000

Occupancy floor 78%

Sensitivity live

Price	-10% $419	-5% $364	+0% $309	+5% $253	+10% $198
Rent	-10% $162	-5% $235	+0% $309	+5% $382	+10% $455
Rate	-1.0pp $407	-0.5pp $358	base $309	+0.5pp $258	+1.0pp $207

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 S Commerce St Woodstock, VA	3.0	2.0	1064	$2,200	$2.07	0d	1	0.12mi
323 S Church St Woodstock, VA	1.0	1.0	800	$1,350	$1.69	11d	1	0.27mi
508 S Water St Woodstock, VA	2.0	2.0	1344	$1,600	$1.19	11d	1	0.40mi
754 S Main St Unit 4 Woodstock, VA	2.0	1.0	800	$1,100	$1.38	45d	1	0.64mi

Listing history 16 events

1. 2026-06-15
   remarks 609-char remark
2. 2026-06-15
   statusdays on marketlisting id $195,000 Pending 3 DOM
3. 2026-05-15
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Why rent when you can own this charming 2 bedroom, 1 full bath home in Woodstock? Enjoy falling asleep to the soothing sound of rain on the metal roof while taking advantage of the many updates completed over the years including vinyl siding, replacement windows, an updated front porch, new carpet in the upstairs bedrooms, new living room flooring, and replacement of the rear portion of the roof. Previously used as a rental, this property offers a low maintenance yard and exterior, plus an outbuilding for extra storage, all conveniently located close to everything Woodstock has to offer. Agent Related.

4. 2026-05-15
   historical Active Under Contract

   Show marketing remark (609 chars)

   Why rent when you can own this charming 2 bedroom, 1 full bath home in Woodstock? Enjoy falling asleep to the soothing sound of rain on the metal roof while taking advantage of the many updates completed over the years including vinyl siding, replacement windows, an updated front porch, new carpet in the upstairs bedrooms, new living room flooring, and replacement of the rear portion of the roof. Previously used as a rental, this property offers a low maintenance yard and exterior, plus an outbuilding for extra storage, all conveniently located close to everything Woodstock has to offer. Agent Related.

5. 2026-05-12
   listed $195,000 Active 609-char remark

   Show marketing remark (609 chars)

   Why rent when you can own this charming 2 bedroom, 1 full bath home in Woodstock? Enjoy falling asleep to the soothing sound of rain on the metal roof while taking advantage of the many updates completed over the years including vinyl siding, replacement windows, an updated front porch, new carpet in the upstairs bedrooms, new living room flooring, and replacement of the rear portion of the roof. Previously used as a rental, this property offers a low maintenance yard and exterior, plus an outbuilding for extra storage, all conveniently located close to everything Woodstock has to offer. Agent Related.

6. 2026-05-08
   listed $195,000 Active
7. 2022-12-05
   soldstatus $165,000
8. 2022-12-02
   soldstatus $165,000 Sold 459-char remark

   Show marketing remark (459 chars)

   Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

9. 2022-12-02
   soldstatus $165,000 Closed

   Show marketing remark (459 chars)

   Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

10. 2022-11-30
    status Pending 459-char remark

    Show marketing remark (459 chars)

    Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

11. 2022-11-19
    status Pending
12. 2022-10-19
    price $179,000 459-char remark

    Show marketing remark (459 chars)

    Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

13. 2022-10-19
    price $179,000

    Show marketing remark (459 chars)

    Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

14. 2022-08-24
    listed $185,000 Active 459-char remark

    Show marketing remark (459 chars)

    Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

15. 2022-08-24
    listed $185,000 Active

    Show marketing remark (459 chars)

    Fall asleep to the sound of rain on this metal roof! This home has 2 bedrooms and a full bathroom. While this home was formerly a rental, many upgrades have been completed over the years including: vinyl siding, replacement windows, updated porch, new carpet upstairs in the bedrooms, new flooring in the living room, back of the roof was replaced. Enjoy this low maintenance yard and home that is close to all Woodstock has to offer! Outbuilding for storage.

16. 2002-03-22
    soldstatus $40,900

ⓘ 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: $657 · $55/mo
• Projected year-2 tax: $1,599 · $133/mo
• Expected delta: +$942/yr (+$78/mo · 143.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 8 d/yr ≥99°F today · 19 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: $22,287
• − Mortgage interest: −$10,923
• − Property taxes: −$657
• − Insurance: −$975
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,673
• Taxable income: $493
• Est. tax owed @ 24.0%: −$118
• After-tax cash flow: $3,585/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: Shenandoah County Public School District
• NCES district ID: 5103510
• Math proficiency: 46% ▼ -30.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $50,207
• Composite: 44.42/100
• National rank: #2811
• State rank: #91 of 131 in VA

Livability — Woodstock

• Score: 79/100
• State rank: #70
• US rank: #2185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodstock, VA
• Population (ZIP): 9,681

Population outlook (Shenandoah County) Hauer SSP2

• Today (2025): 44,891 people
• By 2030: 45,630 · +1.6%
• By 2040: 46,708 · +4.0%
• By 2050: 47,072 · +4.9%
• By 2075: 47,418 · +5.6%
• By 2100: 43,707 · -2.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 9% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5%
• Common ancestry: Slovak 3% Portuguese 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 13% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Shenandoah

• 2024 margin: Solid R (+42.2) · D 28.4% · R 70.6% · Other 1.0%
• 2008→2024 swing: -15.8pp toward R · 2008: -26.5pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.6 2016: R+43.3 2012: R+31.4 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.94%
• Current HPI: 323.891
• 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

+376.8% since first listed

14 events — show timeline

• 2026-05-15 Pending — HRAR
• 2026-05-15 Contingent — BRIGHT MLS
• 2026-05-12 Listed $195,000 HRAR
• 2026-05-08 Listed $195,000 BRIGHT MLS
• 2022-12-05 Sold (Public Records) $165,000 Public Records
• 2022-12-02 Sold (MLS) $165,000 BRIGHT MLS
• 2022-12-02 Sold (MLS) $165,000 HRAR
• 2022-11-30 Pending — HRAR
• 2022-11-19 Pending — BRIGHT MLS
• 2022-10-19 Price Changed $179,000 HRAR
• 2022-10-19 Price Changed $179,000 BRIGHT MLS
• 2022-08-24 Listed $185,000 BRIGHT MLS
• 2022-08-24 Listed $185,000 HRAR
• 2002-03-22 Sold (Public Records) $40,900 Public Records

Property tax history

+3.3%/yr

Latest (2025): $657 · +0.0% YoY. Source: county tax records.