108 Kitten Ln · Rural Retreat, VA 24368

$650,000

15 bd · 4.0 ba · 10,000 sqft · MultiFamily · 52 Days on market

Built 1970 Average condition 3.68 ac lot

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity with strong existing cash flow and room to grow. This 3.86-acre multi-family property features a total of 7 income-producing units plus 2 additional tenant-owned mobile homes providing lot rent income. The property includes two duplexes totaling four 2-bedroom, 1-bath units, along with three mobile homes consisting of two 3-bedroom, 2-bath units and one 2-bedroom, 1-bath unit. All units are individually metered with public water and sewer already in place, making management efficient and straightforward. Current gross annual income is approximately $73,800 with an NOI of approximately $66,105. Situated directly on Route 11, the location offers excellent acce

Key facts

• Lot rent income
• Two duplexes
• Public water

Tags

• MULTI-FAMILY PROPERTY
• INCOME-PRODUCING UNITS
• TENANT-OWNED MOBILE HOMES
• LOT RENT INCOME
• TWO DUPLEXES
• PUBLIC WATER

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Zoned R
• Construction: Brick and vinyl siding construction
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Flooring: Laminate flooring; Vinyl flooring
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Insulated windows; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/?-bath units multifamily listed at $650k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $266/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $630k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.3% 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: crime A+, cost of living A+, housing 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.
• Zoned schools: Rural Retreat Elementary (math 72% / reading 82%, grade A, #171 of 1,108 statewide, top 17%, 362 students, 75% FRL); Rural Retreat Middle (math 73% / reading 80%, grade A, #40 of 342 statewide, top 12%, 231 students, 75% FRL); Rural Retreat High (math 67% / reading 87%, grade A-, #90 of 319 statewide, top 30%, 312 students, 74% FRL) — zoned schools average 75% FRL vs 41% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $5k of equity ($4k loan paydown + $430 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.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $182k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($630k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $630,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.78%
• DSCR: 1.39
• GRM: 7.3

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: 7.8%
• Equity multiple: 1.37×
• Total profit: $67,950
• Equity at exit: $190,894

10-year hold

• IRR: 12.8%
• Equity multiple: 2.41×
• Total profit: $256,418
• Equity at exit: $231,190

Cash invested: $182,000 (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: 36.7×

Monthly cashflow live

• Estimated rent: $7,372 medium
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,548
• Net cashflow: $1,332

Break-even live

Break-even rent $5,686

Max offer price $650,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,781	-5% $1,556	+0% $1,332	+5% $1,107	+10% $883
Rent	-10% $749	-5% $1,041	+0% $1,332	+5% $1,623	+10% $1,914
Rate	-1.0pp $1,659	-0.5pp $1,497	base $1,332	+0.5pp $1,163	+1.0pp $992

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	3	—	$7,370
Total (5 units)			$7,372

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $650,000 Active 52 DOM
2. 2026-06-21
   days on market $650,000 Active 51 DOM
3. 2026-06-18
   days on market $650,000 Active 49 DOM
4. 2026-06-17
   days on market $650,000 Active 48 DOM
5. 2026-06-16
   days on market $650,000 Active 47 DOM
6. 2026-06-15
   days on market $650,000 Active 46 DOM
7. 2026-06-15
   days on market $650,000 Active 45 DOM
8. 2026-06-13
   days on market $650,000 Active 44 DOM
9. 2026-06-12
   days on market $650,000 Active 43 DOM
10. 2026-06-09
    days on market $650,000 Active 40 DOM
11. 2026-06-08
    days on market $650,000 Active 39 DOM
12. 2026-06-08
    days on market $650,000 Active 38 DOM
13. 2026-06-07
    days on market $650,000 Active 37 DOM
14. 2026-06-03
    days on market $650,000 Active 34 DOM
15. 2026-06-02
    days on market $650,000 Active 33 DOM
16. 2026-06-01
    days on market $650,000 Active 32 DOM
17. 2026-05-31
    days on market $650,000 Active 31 DOM
18. 2026-04-30
    listed $650,000 Active 1183-char remark

ⓘ 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 3/10 Moderate 7 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $88,464
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$7,077
• − Management: −$7,077
• − Depreciation: −$18,909
• Taxable income: $5,991
• Est. tax owed @ 24.0%: −$1,438
• After-tax cash flow: $14,545/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.

Condition & rehab AI · 14 photos

Average 55/100 Moderate rehab

This multi-family property presents an average condition with moderate rehab needs, primarily in the exterior and landscaping areas. Painting and improving the landscaping and fencing would significantly enhance its value.

Repairs flagged

• Major Landscaping — The landscaping appears overgrown and could benefit from trimming and planting.
• Major Fencing — The fencing appears to be in poor condition and may need replacement or repair.

Value-add opportunities

• Both Painting the interior and exterior — Fresh paint can improve the curb appeal and interior aesthetics, enhancing both resale and rental value.
• Both Landscaping and fencing — A well-maintained landscape and sturdy fencing can improve the property's overall appearance and safety, boosting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · The landscaping appears overgrown and could benefit from trimming and planting.	Major	$15,000–50,000
Fencing · The fencing appears to be in poor condition and may need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Painting the interior and exterior — Fresh paint can improve the curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both Landscaping and fencing — A well-maintained landscape and sturdy fencing can improve the property's overall appearance and safety, boosting both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Rural Retreat, VA
• 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

1 event — show timeline

• 2026-04-30 Listed $650,000 SWVAR