1383 Colonial Rd · Blue Ridge, VA 24064

$230,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 1 Days on market

Built 1987 0.45 ac lot Est $237k · at est.

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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 +19.6/30.0
• ARV discount +8.8/15.0
• Schools +6.8/10.0
• DSCR +6.2/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location, This beautiful home is a must see! Just minutes to Bonsac and Downtown Bedford. This home has been completely remodeled from top to bottom and has lots to offer! Fresh paint throughout, remodeled bath and kitchen, New architectural shingle roof, central HVAC. . What's not to love? This home is move-in ready and won't last long! Seller is Related to Listing agent.

Key facts

• Spacious yard
• Storage buildings
• Additional lot

Tags

• DETACHED GARAGE
• STORAGE BUILDINGS
• SPACIOUS YARD
• ADDITIONAL LOT

Property features AI

Finance

• Financial info: Annual tax reported: $1,086

Exterior

• Home design: Residential property; Built in 1987
• Construction: Built in 1987
• Exterior features: 0.45-acre lot

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Laminate
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Heat pump (electric); Has heating and cooling
• Interior features: Laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/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 $210k (8.7% below list).
• Recommended offer: $210k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.1% in Blue Ridge — 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 72/100 on livability (#200 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonial Elementary (math 82% / reading 82%, grade A+, #106 of 1,108 statewide, top 11%, 478 students, 40% FRL); Read Mountain Middle (math 75% / reading 82%, grade A+, #32 of 342 statewide, top 9%, 657 students, 35% FRL); Lord Botetourt High (math 83% / reading 92%, grade A, #15 of 319 statewide, top 4%, 980 students, 27% FRL).
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 116 units permitted in Botetourt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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 $170k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $210,000 (8.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $236,880
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1185 Colonial Rd	0.20mi	2/1.0 (-1)	912 (-10%)	15mo	$214,700	$235	58
96 Rabbits Way	0.41mi	2/1.0 (-1)	936 (-7%)	20mo	$210,000	$224	47

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-20,386
• Equity at exit: $34,294

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $3,740
• Equity at exit: $19,886

Cash invested: $64,400 (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 24064

• Active inventory: 43
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$91 /mo · $1,086/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $266

Break-even live

Break-even rent $1,763

Max offer price $230,000

Occupancy floor 82%

Sensitivity live

Price	-10% $397	-5% $332	+0% $266	+5% $201	+10% $136
Rent	-10% $101	-5% $184	+0% $266	+5% $349	+10% $432
Rate	-1.0pp $382	-0.5pp $325	base $266	+0.5pp $207	+1.0pp $146

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3465 Webster Rd Blue Ridge, VA	3.0	1.0	1008	$2,100	$2.08	45d	1	1.01mi

Listing history 3 events

1. 2026-06-13
   status $230,000 Pending 1 DOM
2. 2026-06-10
   remarks 699-char remark
3. 2026-06-10
   listed $230,000 Active 1 DOM

ⓘ 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: $1,086 · $91/mo
• Projected year-2 tax: $1,886 · $157/mo
• Expected delta: +$800/yr (+$67/mo · 73.6%)

ⓘ 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 4/10 Moderate 8 d/yr ≥96°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$12,884
• − Property taxes: −$1,086
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$6,691
• Taxable loss: −$643
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $3,352/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: Botetourt County Public School District
• NCES district ID: 5100420
• Math proficiency: 76% ▼ -14.00%
• Reading proficiency: 82% ▼ -2.00%
• Median HH income: $63,125
• Composite: 68.07/100
• National rank: #355
• State rank: #6 of 131 in VA

Livability — Blue Ridge

• Score: 72/100
• State rank: #200
• US rank: #6182

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Ridge, VA
• Population (ZIP): 5,226

Population outlook (Botetourt County) Hauer SSP2

• Today (2025): 34,273 people
• By 2030: 34,457 · +0.5%
• By 2040: 34,051 · -0.6%
• By 2050: 32,841 · -4.2%
• By 2075: 30,720 · -10.4%
• By 2100: 26,395 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Romanian 3% Iranian 3% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam, South Korea
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Botetourt

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -33.2pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.5 2016: R+47.6 2012: R+38.6 2008: R+33.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.90%
• Current HPI: 160.6289
• 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

+187.5% since first listed

16 events — show timeline

• 2026-06-09 Listed $230,000 MLSRV
• 2021-11-10 Sold (Public Records) $170,000 Public Records
• 2021-11-09 Sold (MLS) $170,000 MLSRV
• 2021-10-05 Listed $169,900 MLSRV
• 2017-06-07 Sold (Public Records) $119,950 Public Records
• 2017-06-06 Sold (MLS) $119,950 MLSRV
• 2017-04-03 Listed $119,950 MLSRV
• 2009-04-03 Sold (Public Records) $109,000 Public Records
• 2008-08-26 Listing Removed — MLSRV
• 2008-02-25 Listed $114,950 MLSRV
• 2007-11-06 Sold (MLS) $53,000 MLSRV
• 2007-09-16 Listed $59,950 MLSRV
• 2007-06-19 Listing Removed — MLSRV
• 2007-01-19 Listed $90,000 MLSRV
• 2006-12-29 Listing Removed — MLSRV
• 2006-12-21 Listed $80,000 MLSRV

Property tax history

+4.7%/yr

Latest (2025): $1,086 · +0.0% YoY. Source: county tax records.