1240 Deepwoods Rd Rd · Westlake Corner, VA 24101

$49,900

2 bd · 1.0 ba · 816 sqft · Manufactured public records · 63 Days on market

Built 1968 2.52 ac lot $61/sqft · 75% below area ↓ 35% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

As-is opportunity! This 2-bedroom, 1-bath home sits on a spacious 2.5-acre parcel and is in need of a full renovation to restore its original charm. Great opportunity for investors or handy buyers looking for their next project. Well and septic condition unknown. Selling strictly AS-IS, bring your vision!

Key facts

• 2.52 acre lot
• Built 1968
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 1.5% in Westlake Corner — 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 54/100 on livability (#525 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+; Watch: employment C-, cost of living D+, schools 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.
• Market conditions: 141 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 $345 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.77% ✓
• Cap rate: 15.50%
• Cash-on-cash: 32.88%
• DSCR: 2.46
• GRM: 4.7

CMA / ARV

• ARV (median comp): $200,000
• List price: $49,900
• Delta: -75.05%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.0%
• Equity multiple: 2.17×
• Total profit: $16,290
• Equity at exit: $7,440

10-year hold

• IRR: 35.5%
• Equity multiple: 4.26×
• Total profit: $45,559
• Equity at exit: $4,314

Cash invested: $13,972 (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 24101

• Home prices YoY: -4.3%
• Active inventory: 141
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $884 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $383

Break-even live

Break-even rent $399

Max offer price $49,900

Occupancy floor 52%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $49,900 Active 63 DOM
2. 2026-06-17
   days on market $49,900 Active 62 DOM
3. 2026-06-16
   days on market $49,900 Active 61 DOM
4. 2026-06-15
   days on market $49,900 Active 60 DOM
5. 2026-06-14
   days on market $49,900 Active 58 DOM
6. 2026-06-13
   days on market $49,900 Active 57 DOM
7. 2026-06-10
   days on market $49,900 Active 55 DOM
8. 2026-06-09
   days on market $49,900 Active 54 DOM
9. 2026-06-08
   days on market $49,900 Active 53 DOM
10. 2026-06-07
    days on market $49,900 Active 52 DOM
11. 2026-06-02
    days on market $49,900 Active 47 DOM
12. 2026-06-01
    days on market $49,900 Active 46 DOM
13. 2026-05-31
    days on market $49,900 Active 45 DOM
14. 2026-05-30
    days on market $49,900 Active 44 DOM
15. 2026-04-29
    price $59,900 306-char remark

    Show marketing remark (306 chars)

    As-is opportunity! This 2-bedroom, 1-bath home sits on a spacious 2.5-acre parcel and is in need of a full renovation to restore its original charm. Great opportunity for investors or handy buyers looking for their next project. Well and septic condition unknown. Selling strictly AS-IS, bring your vision!

16. 2026-04-16
    listed $69,900 Active 306-char remark

    Show marketing remark (306 chars)

    As-is opportunity! This 2-bedroom, 1-bath home sits on a spacious 2.5-acre parcel and is in need of a full renovation to restore its original charm. Great opportunity for investors or handy buyers looking for their next project. Well and septic condition unknown. Selling strictly AS-IS, bring your vision!

17. 2026-04-03
    soldstatus $55,000 Closed 497-char remark

    Show marketing remark (497 chars)

    Fixer upper -2.98 acres- selling ''as-is''. THIS PROVISION MUST BE INCLUDED IN A CONTRACT: ''The conveyance of the Property will not be closed until the Franklin County Commissioner of Accounts files a report with the Circuit Court approving the sale and the report is recorded in the Office of the Clerk of the Circuit Court. If the Property owner dies before closing, the Commissioner of Accounts would determine whether the Conservator is authorized to proceed with the sale of the Property. ''

18. 2026-04-02
    soldstatus $55,000
19. 2026-01-20
    status Pending 497-char remark

    Show marketing remark (497 chars)

    Fixer upper -2.98 acres- selling ''as-is''. THIS PROVISION MUST BE INCLUDED IN A CONTRACT: ''The conveyance of the Property will not be closed until the Franklin County Commissioner of Accounts files a report with the Circuit Court approving the sale and the report is recorded in the Office of the Clerk of the Circuit Court. If the Property owner dies before closing, the Commissioner of Accounts would determine whether the Conservator is authorized to proceed with the sale of the Property. ''

20. 2025-11-18
    listed $91,600 Active 497-char remark

    Show marketing remark (497 chars)

    Fixer upper -2.98 acres- selling ''as-is''. THIS PROVISION MUST BE INCLUDED IN A CONTRACT: ''The conveyance of the Property will not be closed until the Franklin County Commissioner of Accounts files a report with the Circuit Court approving the sale and the report is recorded in the Office of the Clerk of the Circuit Court. If the Property owner dies before closing, the Commissioner of Accounts would determine whether the Conservator is authorized to proceed with the sale of the Property. ''

ⓘ 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: $394 · $33/mo
• Projected year-2 tax: $409 · $34/mo
• Expected delta: +$15/yr (+$1/mo · 3.9%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,604
• − Mortgage interest: −$2,795
• − Property taxes: −$394
• − Insurance: −$250
• − Repairs & maintenance: −$848
• − Management: −$848
• − Depreciation: −$1,452
• Taxable income: $4,017
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $3,629/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 — Westlake Corner

• Score: 54/100
• State rank: #525
• US rank: #24129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,160

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Asian 3% Two or more races 2% Black 1%
• Common ancestry: Slovak 6% Romanian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Chinese 1% Other Indo-European 1%

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: ▼ -13.41%
• Current HPI: 299.7419
• 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

-34.6% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $59,900 LMLS
• 2026-04-16 Listed $69,900 LMLS
• 2026-04-03 Sold (MLS) $55,000 MLSRV
• 2026-04-02 Sold (Public Records) $55,000 Public Records
• 2026-01-20 Pending — MLSRV
• 2025-11-18 Listed $91,600 MLSRV

Property tax history

+2.7%/yr

Latest (2025): $394 · +0.0% YoY. Source: county tax records.