1014 Coles Ct · Forest, VA 24551

$369,500

3 bd · 2.5 ba · 2,168 sqft · SingleFamily · 119 Days on market

Built 2022 2,178 sqft lot $170/sqft · 10% below area Est $412k · 10% under ↓ 3% 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 +12.1/15.0
• Cash flow +9.5/30.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience luxury living in this stunning maintenance-free home featuring a one-car garage, covered back patio, and beautiful brick, stone, and board-and-batten exteriors. The open-concept design showcases a spacious Great Room with a stone gas log fireplace flowing seamlessly into the dining area and chef's kitchen. Enjoy marble countertops and backsplash, a large island, gas range with double ovens, and a walk-in pantry. A stylish drop zone with custom built-ins adds convenience. The main-level primary suite offers two generous closets and a spa-like bath with double vanities and a tiled shower with dual shower heads. Upstairs includes two additional bedrooms, a full bath, laundry room, and versatile flex space. Hardwoods, upgraded trim, wainscoting, coffered ceilings, and built-ins add timeless elegance. Ideally located near schools, shopping, dining, and exceptional community amenities in the sought-after Forest area.

Key facts

• Marble countertops
• Covered back patio
• Walk in pantry

Tags

• COVERED BACK PATIO
• STONE GAS LOG FIREPLACE
• MARBLE COUNTERTOPS
• GAS RANGE WITH DOUBLE OVENS
• WALK IN PANTRY
• CUSTOM BUILT INS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (32.7% below list).
• Recommended offer: $249k (32.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.9% in Forest — 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 76/100 on livability (#114 in VA, #3,521 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 253 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($91k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($336k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,657 (32.7% 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 119 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.95%
• DSCR: 0.87
• GRM: 12.4

CMA / ARV

• ARV (median comp): $411,942
• List price: $369,500
• Delta: -10.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1261 Stoney Ridge Blvd	0.69mi	3/2.5	2,100 (-3%)	6mo	$502,500	$239	58
1235 Stoney Ridge Blvd	0.71mi	3/2.5	2,100 (-3%)	9mo	$510,000	$243	54
1498 Hooper Rd	0.55mi	3/2.5	2,280 (+5%)	21mo	$399,900	$175	48
1043 Lindenshire Dr	0.69mi	3/2.0	1,965 (-9%)	2mo	$490,000	$249	48
1225 Stoney Ridge Blvd	0.71mi	3/2.5	2,100 (-3%)	17mo	$510,000	$243	47
1036 Brewington Dr	0.59mi	4/2.5 (+1)	2,427 (+12%)	15mo	$500,000	$206	35
1161 Brewington Dr	0.69mi	4/2.5 (+1)	2,465 (+14%)	17mo	$510,000	$207	26
1111 Lindenshire Dr	0.64mi	4/3.0 (+1)	2,490 (+15%)	23mo	$517,500	$208	19

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

Projected returns pro-forma

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

5-year hold

• IRR: -21.3%
• Equity multiple: 0.26×
• Total profit: $-76,265
• Equity at exit: $55,094

10-year hold

• IRR: -15.0%
• Equity multiple: 0.15×
• Total profit: $-87,982
• Equity at exit: $31,948

Cash invested: $103,460 (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 24551

• Home prices YoY: -10.9%
• Active inventory: 253
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,487 high
• Mortgage (P&I): −$1,938
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-255

Break-even live

Break-even rent $2,809

Max offer price $324,505

Occupancy floor —

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: $92,375
• Closing costs: $11,085
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 Easton Ct Forest, VA	4.0	4.0	2586	$2,750	$1.06	13d	1	0.05mi
1101 S Westyn Loop Unit 1101 Forest, VA	4.0	3.5	2448	$3,100	$1.27	43d	1	0.07mi
1089 S Westyn Loop Unit 1089 Forest, VA	3.0	2.5	2168	$2,700	$1.25	43d	1	0.07mi
1049 Westyn View Ct Forest, VA	3.0	2.0	1488	$1,895	$1.27	43d	1	0.14mi
1040 Commonwealth Cir Forest, VA	3.0	2.5	1784	$2,175	$1.22	13d	1	0.44mi
1178 Commonwealth Cir Unit 1 Forest, VA	3.0	2.5	1552	$1,650	$1.06	13d	1	0.50mi
1243 Harborough Dr Forest, VA	4.0	2.5	1900	$2,500	$1.32	13d	1	0.53mi
1155 Stoney Ridge Blvd Forest, VA	2.0	2.0	1600	$2,400	$1.50	13d	1	0.70mi

Listing history 21 events

1. 2026-06-19
   days on market $369,500 Active 119 DOM
2. 2026-06-18
   days on market $369,500 Active 118 DOM
3. 2026-06-17
   days on market $369,500 Active 117 DOM
4. 2026-06-16
   days on market $369,500 Active 116 DOM
5. 2026-06-15
   days on market $369,500 Active 115 DOM
6. 2026-06-14
   days on market $369,500 Active 113 DOM
7. 2026-06-13
   days on market $369,500 Active 112 DOM
8. 2026-06-10
   days on market $369,500 Active 110 DOM
9. 2026-06-09
   days on market $369,500 Active 109 DOM
10. 2026-06-08
    days on market $369,500 Active 108 DOM
11. 2026-06-07
    days on market $369,500 Active 107 DOM
12. 2026-06-05
    days on market $369,500 Active 104 DOM
13. 2026-06-03
    days on market $369,500 Active 103 DOM
14. 2026-06-02
    days on market $369,500 Active 102 DOM
15. 2026-06-01
    days on market $369,500 Active 101 DOM
16. 2026-05-31
    days on market $369,500 Active 100 DOM
17. 2026-05-30
    days on market $369,500 Active 99 DOM
18. 2026-02-20
    listed $369,500 Active 935-char remark

    Show marketing remark (935 chars)

    Experience luxury living in this stunning maintenance-free home featuring a one-car garage, covered back patio, and beautiful brick, stone, and board-and-batten exteriors. The open-concept design showcases a spacious Great Room with a stone gas log fireplace flowing seamlessly into the dining area and chef's kitchen. Enjoy marble countertops and backsplash, a large island, gas range with double ovens, and a walk-in pantry. A stylish drop zone with custom built-ins adds convenience. The main-level primary suite offers two generous closets and a spa-like bath with double vanities and a tiled shower with dual shower heads. Upstairs includes two additional bedrooms, a full bath, laundry room, and versatile flex space. Hardwoods, upgraded trim, wainscoting, coffered ceilings, and built-ins add timeless elegance. Ideally located near schools, shopping, dining, and exceptional community amenities in the sought-after Forest area.

19. 2022-10-06
    soldstatus $379,900 Closed 1049-char remark

    Show marketing remark (1049 chars)

    Experience Luxury in these brand new, high-end Villas in Westyn Village! All the bells & whistles! You will love these maintenance free units with one car garages & covered back patios. All brick, stone and board & batten! Awesome open floor plan featuring great room w/ stone gas log fireplace opening to kitchen & dining room. Gorgeous kitchen with walk-in pantry, island, gas range with double ovens, marble backsplash & marble counter tops. Desired drop zone area with a gorgeous built-in. Master suite features two large closets & lavish master bath w/ double sinks & all-tiled shower with two shower heads. Upstairs also boasts 2nd & 3rd bedrooms, full bath, laundry room & large flex space making a great office or family room. Hardwoods throughout main level & upstairs flex space and upgraded trim package w/ built-ins, wainscoting & coffered ceiling. You will love the Westyn Village community amenities and location only minutes from schools, shopping & restaurants!

20. 2022-08-25
    status Pending 1049-char remark

    Show marketing remark (1049 chars)

    Experience Luxury in these brand new, high-end Villas in Westyn Village! All the bells & whistles! You will love these maintenance free units with one car garages & covered back patios. All brick, stone and board & batten! Awesome open floor plan featuring great room w/ stone gas log fireplace opening to kitchen & dining room. Gorgeous kitchen with walk-in pantry, island, gas range with double ovens, marble backsplash & marble counter tops. Desired drop zone area with a gorgeous built-in. Master suite features two large closets & lavish master bath w/ double sinks & all-tiled shower with two shower heads. Upstairs also boasts 2nd & 3rd bedrooms, full bath, laundry room & large flex space making a great office or family room. Hardwoods throughout main level & upstairs flex space and upgraded trim package w/ built-ins, wainscoting & coffered ceiling. You will love the Westyn Village community amenities and location only minutes from schools, shopping & restaurants!

21. 2022-06-21
    listed $379,900 Active 1049-char remark

    Show marketing remark (1049 chars)

    Experience Luxury in these brand new, high-end Villas in Westyn Village! All the bells & whistles! You will love these maintenance free units with one car garages & covered back patios. All brick, stone and board & batten! Awesome open floor plan featuring great room w/ stone gas log fireplace opening to kitchen & dining room. Gorgeous kitchen with walk-in pantry, island, gas range with double ovens, marble backsplash & marble counter tops. Desired drop zone area with a gorgeous built-in. Master suite features two large closets & lavish master bath w/ double sinks & all-tiled shower with two shower heads. Upstairs also boasts 2nd & 3rd bedrooms, full bath, laundry room & large flex space making a great office or family room. Hardwoods throughout main level & upstairs flex space and upgraded trim package w/ built-ins, wainscoting & coffered ceiling. You will love the Westyn Village community amenities and location only minutes from schools, shopping & restaurants!

ⓘ 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: $1,529 · $127/mo
• Projected year-2 tax: $3,030 · $252/mo
• Expected delta: +$1,501/yr (+$125/mo · 98.1%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,839
• − Mortgage interest: −$20,698
• − Property taxes: −$1,529
• − Insurance: −$1,848
• − Repairs & maintenance: −$2,387
• − Management: −$2,387
• − Depreciation: −$10,749
• Taxable loss: −$9,759
• Est. tax savings @ 24.0%: +$2,342
• After-tax cash flow: $-714/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: Bedford County Public School District
• NCES district ID: 5100360
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 73% ▼ -7.00%
• Median HH income: $56,288
• Composite: 54.92/100
• National rank: #1310
• State rank: #41 of 131 in VA

Livability — Forest

• Score: 76/100
• State rank: #114
• US rank: #3521

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest, VA
• County: Bedford County · 28,554 people
• City population: 28,554
• Metro: Lynchburg, VA
• Population (ZIP): 28,554
• Household income: $91,067
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 471.0

Population outlook (Bedford County) Hauer SSP2

• Today (2025): 83,194 people
• By 2030: 85,499 · +2.8%
• By 2040: 88,834 · +6.8%
• By 2050: 90,060 · +8.3%
• By 2075: 94,131 · +13.1%
• By 2100: 89,832 · +8.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 8% Two or more races 7% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Bedford

• 2024 margin: Solid R (+50.4) · D 24.4% · R 74.8%
• 2008→2024 swing: -13.0pp toward R · 2008: -37.4pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+48.1 2016: R+49.4 2012: R+45.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.77%
• Current HPI: 307.2595
• Rent YoY: —
• Metro: Lynchburg, 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

-2.7% since first listed

4 events — show timeline

• 2026-02-20 Listed $369,500 LMLS
• 2022-10-06 Sold (MLS) $379,900 LMLS
• 2022-08-25 Pending — LMLS
• 2022-06-21 Listed $379,900 LMLS

Property tax history

+112.5%/yr

Latest (2025): $1,529 · +0.0% YoY. Source: county tax records.