10401 Callaway Rd · Ferrum, VA 24067

$126,777

2 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 14 Days on market

Built 1926 4.68 ac lot $103/sqft · 36% below area Est $197k · 36% under

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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).

• Cash flow +16.2/30.0
• ARV discount +15.0/15.0
• Schools +6.0/10.0
• DSCR +5.0/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-Bedroom Home on 4.66 Acres with Ponds - A Peaceful Retreat with Endless Potential! Nestled in a serene and private setting, this 2-bedroom, 1-bath home offers a rare opportunity to own 4.66 picturesque acres complete with tranquil ponds and mature trees. Whether you're looking for a peaceful weekend getaway, a renovation project, or a place to build your dream homestead, this property is full of potential. The home itself is in need of some repair and updating, making it a great option for investors or buyers ready to put their personal touch on a country retreat. Inside, you'll find a cozy layout with plenty of natural light and views of the surrounding countryside. Outside, enj

Key facts

• Tranquil ponds
• Quiet location
• 4.66 acres

Tags

• 4.66 ACRES
• TRANQUIL PONDS
• MATURE TREES
• QUIET LOCATION

Property features AI

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential property; Built in 1926
• Construction: Crawl space basement
• Exterior features: Waterfront on a river or other water body; Approximately 4.68 acres

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Heat pump (electric) for heating and cooling
• Interior features: Wood doors; Six total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $66 ($795/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 $105k (17.2% below list).
• Recommended offer: $105k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.5% in Ferrum — 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 65/100 on livability (#331 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: housing D+, amenities F, commute F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Callaway Elementary (math 67% / reading 72%, grade A-, #313 of 1,108 statewide, top 32%, 169 students, 76% FRL); Benjamin Franklin Middle (math 64% / reading 72%, grade A-, #94 of 342 statewide, top 28%, 1,397 students, 74% FRL); Franklin County High (math 79% / reading 82%, grade A, #57 of 319 statewide, top 18%, 1,904 students, 74% FRL) — zoned schools average 75% FRL vs 45% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $877 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,948 (17.2% below list)

Questions for the listing agent

1. Built in 1926 — 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: 0.83% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (median comp): $197,441
• List price: $126,777
• Delta: -33.90%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-16,378
• Equity at exit: $18,903

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-9,047
• Equity at exit: $10,961

Cash invested: $35,498 (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 24067

• Home prices YoY: -12.8%
• Active inventory: 24
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,049 medium
• Mortgage (P&I): −$665
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $66

Break-even live

Break-even rent $966

Max offer price $126,777

Occupancy floor 89%

Sensitivity live

Price	-10% $138	-5% $102	+0% $66	+5% $30	+10% $-6
Rent	-10% $-17	-5% $25	+0% $66	+5% $108	+10% $149
Rate	-1.0pp $130	-0.5pp $98	base $66	+0.5pp $33	+1.0pp $0

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: $31,694
• Closing costs: $3,803
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $126,777 Active 14 DOM
2. 2026-06-17
   days on market $126,777 Active 13 DOM
3. 2026-06-16
   days on market $126,777 Active 12 DOM
4. 2026-06-15
   days on market $126,777 Active 11 DOM
5. 2026-06-14
   days on market $126,777 Active 9 DOM
6. 2026-06-13
   days on market $126,777 Active 8 DOM
7. 2026-06-10
   days on market $126,777 Active 6 DOM
8. 2026-06-09
   days on market $126,777 Active 5 DOM
9. 2026-06-08
   days on market $126,777 Active 4 DOM
10. 2026-06-07
    pricedays on marketlisting id $126,777 Active 3 DOM
11. 2026-06-02
    days on market $130,500 Active 91 DOM
12. 2026-06-01
    days on market $130,500 Active 90 DOM
13. 2026-05-31
    days on market $130,500 Active 89 DOM
14. 2026-05-30
    days on market $130,500 Active 88 DOM
15. 2026-04-09
    price $130,500 1121-char remark
16. 2026-03-03
    listed $126,777 Active 1121-char remark
17. 2026-03-02
    historical
18. 2025-12-02
    listed $126,777 Active

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $1,040 · $87/mo
• Expected delta: +$497/yr (+$41/mo · 91.7%)

ⓘ 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 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,594
• − Mortgage interest: −$7,101
• − Property taxes: −$542
• − Insurance: −$634
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$3,688
• Taxable loss: −$1,387
• Est. tax savings @ 24.0%: +$333
• After-tax cash flow: $1,128/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: Franklin County Public School District
• NCES district ID: 5101440
• Math proficiency: 69% ▼ -17.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $47,093
• Composite: 59.5/100
• National rank: #921
• State rank: #24 of 131 in VA

Livability — Ferrum

• Score: 65/100
• State rank: #331
• US rank: #12612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,225

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 56,242 people
• By 2030: 55,742 · -0.9%
• By 2040: 53,669 · -4.6%
• By 2050: 50,291 · -10.6%
• By 2075: 42,395 · -24.6%
• By 2100: 32,981 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 9% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+45.3) · D 26.9% · R 72.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -22.8pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+42.1 2016: R+42.2 2012: R+28.6 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.44%
• Current HPI: 214.8194
• 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

+0.0% since first listed

6 events — show timeline

• 2026-06-04 Listed $126,777 MLSRV
• 2026-06-03 Listing Removed — MLSRV
• 2026-04-09 Price Changed $130,500 MLSRV
• 2026-03-03 Listed $126,777 MLSRV
• 2026-03-02 Listing Removed — MLSRV
• 2025-12-02 Listed $126,777 MLSRV

Property tax history

+1.0%/yr

Latest (2025): $542 · +0.0% YoY. Source: county tax records.