8117 W Lee Hwy · Rural Retreat, VA 24368

$159,000

3 bd · 2.0 ba · 980 sqft · SingleFamily · 59 Days on market

Built 1990 0.61 ac lot

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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).

• Cash flow +13.1/30.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Appreciation +5.0/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming Updated home on a Beautiful Lot just outside of town. This well-maintained 980 sq ft single wide offers comfort, updates, and convenience all in one. Recent improvements include new flooring and fresh paint, giving the home a clean, modern feel that’s move-in ready. Step out back and enjoy your covered porch, the perfect spot for morning coffee or winding down in the evenings while overlooking your spacious lot. The property also includes two outbuildings that have been freshly painted are ideal for a she shed, he shed, workshop, or extra storage. Whether you need space for hobbies, tools, or a quiet retreat, you’ve got options here. Located just 5 minutes from the interstate and grocery stores, you get the best of both worlds: peaceful living in a country setting with quick access to everyday essentials. A great opportunity for a first-time buyer, downsizer, or investment property.

Key facts

• Covered porch
• Two outbuildings
• Spacious lot

Tags

• COVERED PORCH
• TWO OUTBUILDINGS
• SPACIOUS LOT
• RECENT IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $-7 ($-79/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (13.0% below list).
• Recommended offer: $138k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.5% in Rural Retreat — 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 75/100 on livability (#134 in VA, #4,304 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living 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.
• 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 $1k of equity ($1k loan paydown + $105 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 59 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $138,259 (13.0% 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 59 days. Have you received any prior offers? Is the seller open to a 13% 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: 0.87% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.2%
• Equity multiple: 0.90×
• Total profit: $-4,553
• Equity at exit: $46,696

10-year hold

• IRR: 3.5%
• Equity multiple: 1.38×
• Total profit: $17,002
• Equity at exit: $56,553

Cash invested: $44,520 (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 24368

• Home prices YoY: 0.0%
• Active inventory: 43
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,383 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-7

Break-even live

Break-even rent $1,391

Max offer price $158,050

Occupancy floor 95%

Sensitivity live

Price	-10% $103	-5% $48	+0% $-7	+5% $-62	+10% $-116
Rent	-10% $-116	-5% $-61	+0% $-7	+5% $48	+10% $103
Rate	-1.0pp $74	-0.5pp $34	base $-7	+0.5pp $-48	+1.0pp $-90

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $159,000 Active 59 DOM
2. 2026-06-18
   days on market $159,000 Active 57 DOM
3. 2026-06-17
   days on market $159,000 Active 56 DOM
4. 2026-06-16
   days on market $159,000 Active 55 DOM
5. 2026-06-15
   days on market $159,000 Active 54 DOM
6. 2026-06-15
   days on market $159,000 Active 53 DOM
7. 2026-06-13
   days on market $159,000 Active 52 DOM
8. 2026-06-12
   days on market $159,000 Active 51 DOM
9. 2026-06-09
   days on market $159,000 Active 48 DOM
10. 2026-06-08
    days on market $159,000 Active 47 DOM
11. 2026-06-08
    days on market $159,000 Active 46 DOM
12. 2026-06-07
    days on market $159,000 Active 45 DOM
13. 2026-06-03
    days on market $159,000 Active 42 DOM
14. 2026-06-02
    days on market $159,000 Active 41 DOM
15. 2026-06-01
    days on market $159,000 Active 40 DOM
16. 2026-05-31
    days on market $159,000 Active 39 DOM
17. 2026-04-22
    listed $169,900 Active 916-char remark

    Show marketing remark (916 chars)

    Charming Updated home on a Beautiful Lot just outside of town. This well-maintained 980 sq ft single wide offers comfort, updates, and convenience all in one. Recent improvements include new flooring and fresh paint, giving the home a clean, modern feel that’s move-in ready. Step out back and enjoy your covered porch, the perfect spot for morning coffee or winding down in the evenings while overlooking your spacious lot. The property also includes two outbuildings that have been freshly painted are ideal for a she shed, he shed, workshop, or extra storage. Whether you need space for hobbies, tools, or a quiet retreat, you’ve got options here. Located just 5 minutes from the interstate and grocery stores, you get the best of both worlds: peaceful living in a country setting with quick access to everyday essentials. A great opportunity for a first-time buyer, downsizer, or investment property.

18. 2026-04-20
    listed $169,900 Active 890-char remark

    Show marketing remark (890 chars)

    Charming Updated Single Wide on a Beautiful Lot. This well-maintained 980 sq ft single wide offers comfort, updates, and convenience all in one. Recent improvements include new flooring and fresh paint, giving the home a clean, modern feel that's move-in ready. Step out back and enjoy your covered porch, the perfect spot for morning coffee or winding down in the evenings while overlooking your spacious lot. The property also includes two outbuildings that have been freshly painted are ideal for a she shed, he shed, workshop, or extra storage. Whether you need space for hobbies, tools, or a quiet retreat, you've got options here. Located just 5 minutes from the interstate and grocery stores, you get the best of both worlds: peaceful living in a country setting with quick access to everyday essentials. A great opportunity for a first-time buyer, downsizer, or investment property.

ⓘ 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 2/10 Low 7 d/yr ≥92°F today · 21 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: $16,591
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$4,625
• Taxable loss: −$2,775
• Est. tax savings @ 24.0%: +$666
• After-tax cash flow: $587/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

+0.0% since first listed

2 events — show timeline

• 2026-04-22 Listed $169,900 NRVMLS
• 2026-04-20 Listed $169,900 SWVAR

Property tax history

+2.9%/yr

Latest (2025): $119 · +0.0% YoY. Source: county tax records.