3226 Bethany Ct · Harrisonburg, VA 22801

$290,000

3 bd · 1.5 ba · 1,356 sqft · SingleFamily public records · 24 Days on market

Built 2008

---

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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Duplex style townhouse featuring 3 bedrooms and 1.5 baths. The first floor offers an open floor plan with the kitchen, dining area and living room along with the 1/2 bath and access to the rear patio. The second floor has the three (3) bedroom along with a full bath and closet space. Call now before this property is gone.

Key facts

• Built 2008
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-8 ($-94/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (24.4% below list).
• Recommended offer: $219k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.8% in Harrisonburg — 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 84/100 on livability (#24 in VA, #666 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-.
• Rockingham County Public School District (rural): math 47% / reading 64% proficiency, ranked #77 of 131 in VA (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.5%/yr); 194 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 683 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Rockingham County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $121k; list at $290k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,269 (24.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.76% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.51×
• Total profit: $-39,674
• Equity at exit: $43,240

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-688
• Equity at exit: $25,074

Cash invested: $81,200 (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 22801

• Rents YoY: 6.5%
• Active inventory: 194
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,193 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$98 /mo · $1,181/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $-8

Break-even live

Break-even rent $2,203

Max offer price $288,618

Occupancy floor 95%

Sensitivity live

Price	-10% $156	-5% $74	+0% $-8	+5% $-90	+10% $-172
Rent	-10% $-181	-5% $-94	+0% $-8	+5% $79	+10% $165
Rate	-1.0pp $138	-0.5pp $66	base $-8	+0.5pp $-83	+1.0pp $-159

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
474 Diana Ct Rockingham, VA	3.0	2.5	1549	$2,300	$1.48	44d	1	0.20mi
3368 Marble LOOP Harrisonburg, VA	3.0	2.5	1710	$1,795	$1.05	44d	1	0.40mi
3407 Granite Rd , VA	3.0	2.5	1220	$2,250	$1.84	44d	1	0.45mi
2511 Millwood Loop Harrisonburg, VA	2.0	2.5	1150	$1,495	$1.30	44d	1	1.05mi
2412 Millwood Loop Harrisonburg, VA	2.0	2.5	1260	$1,495	$1.19	44d	1	1.17mi
2113 Buckle St , VA	2.0–4.0	2.5–3.5	1717	$2,654	$1.54	44d	23	1.40mi

Listing history 20 events

1. 2026-06-19
   days on market $290,000 Active 24 DOM
2. 2026-06-18
   days on market $290,000 Active 23 DOM
3. 2026-06-17
   days on market $290,000 Active 22 DOM
4. 2026-06-16
   days on market $290,000 Active 21 DOM
5. 2026-06-15
   days on market $290,000 Active 20 DOM
6. 2026-06-14
   days on market $290,000 Active 18 DOM
7. 2026-06-13
   days on market $290,000 Active 17 DOM
8. 2026-06-10
   days on market $290,000 Active 15 DOM
9. 2026-06-09
   days on market $290,000 Active 14 DOM
10. 2026-06-08
    days on market $290,000 Active 13 DOM
11. 2026-06-07
    days on market $290,000 Active 12 DOM
12. 2026-06-05
    days on market $290,000 Active 9 DOM
13. 2026-06-03
    days on market $290,000 Active 8 DOM
14. 2026-06-02
    days on market $290,000 Active 7 DOM
15. 2026-06-01
    days on market $290,000 Active 6 DOM
16. 2026-05-31
    days on market $290,000 Active 5 DOM
17. 2026-05-30
    days on market $290,000 Active 4 DOM
18. 2026-05-26
    listed $290,000 Active
19. 2014-06-27
    soldstatus $121,000 323-char remark

    Show marketing remark (323 chars)

    Duplex style townhouse featuring 3 bedrooms and 1.5 baths. The first floor offers an open floor plan with the kitchen, dining area and living room along with the 1/2 bath and access to the rear patio. The second floor has the three (3) bedroom along with a full bath and closet space. Call now before this property is gone.

20. 2014-04-10
    listed $125,900 323-char remark

    Show marketing remark (323 chars)

    Duplex style townhouse featuring 3 bedrooms and 1.5 baths. The first floor offers an open floor plan with the kitchen, dining area and living room along with the 1/2 bath and access to the rear patio. The second floor has the three (3) bedroom along with a full bath and closet space. Call now before this property is gone.

ⓘ 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: $1,181 · $98/mo
• Projected year-2 tax: $2,378 · $198/mo
• Expected delta: +$1,197/yr (+$100/mo · 101.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°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: $26,312
• − Mortgage interest: −$16,245
• − Property taxes: −$1,181
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$8,436
• Taxable loss: −$5,210
• Est. tax savings @ 24.0%: +$1,250
• After-tax cash flow: $1,156/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: Rockingham County Public School District
• NCES district ID: 5103390
• Math proficiency: 47% ▼ -36.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $53,178
• Composite: 47.58/100
• National rank: #2264
• State rank: #77 of 131 in VA

Livability — Harrisonburg

• Score: 84/100
• State rank: #24
• US rank: #666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harrisonburg City · 70,357 people
• City population: 70,357
• Metro: Harrisonburg, VA
• Population (ZIP): 39,983
• Household income: $72,067
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 2712.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 83,435 people
• By 2030: 85,223 · +2.1%
• By 2040: 87,667 · +5.1%
• By 2050: 88,550 · +6.1%
• By 2075: 90,331 · +8.3%
• By 2100: 85,122 · +2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 12% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 16% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Spanish 15% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+37.0) · D 30.9% · R 68.0% · Other 1.1%
• 2008→2024 swing: -1.0pp toward R · 2008: -36.0pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+40.4 2016: R+43.5 2012: R+40.6 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.01%
• Current HPI: 166.3265
• Rent YoY: ▲ 6.48%
• Metro: Harrisonburg, VA
• 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

+130.3% since first listed

3 events — show timeline

• 2026-05-26 Listed $290,000 FSBO.com
• 2014-06-27 Sold (MLS) $121,000 HRAR
• 2014-04-10 Listed $125,900 HRAR

Property tax history

+3.2%/yr

Latest (2025): $1,181 · +0.0% YoY. Source: county tax records.