1017 Turner Spur Rd · Fancy Gap, VA 24328

$220,000

2 bd · 1.0 ba · 1,335 sqft · SingleFamily · 111 Days on market

Built 1960 3.71 ac lot

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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).

• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +5.4/10.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to peaceful country living! Nestled on approximately 3 beautiful acres, this inviting 2-bedroom, 1-bath home offers the perfect blend of comfort, privacy, and outdoor enjoyment. Step onto the spacious covered front porch, the ideal spot for morning coffee, rocking chairs, and soaking in the quiet surroundings. Inside, you'll find a cozy and functional layout with comfortable living space, making it perfect for a starter home, downsizing, or even a weekend getaway. Outside is where this property truly shines. The level acreage provides room for gardening, animals, or simply enjoying wide-open space. A perfect mini-farm! A peaceful creek runs along the property, adding charm and a relaxing natural backdrop. The 20x40 garage allows for plenty of storage and workspace, and the RV sized carport along with hook-ups provide additional opportunity for friends and family to stay! Mature trees offer shade and privacy, creating a serene setting you'll love coming home to. With plenty of room to roam and a setting that feels like your own private retreat, this property offers country living at its best!

Key facts

• Rv sized carport
• Peaceful creek
• 20x40 garage

Tags

• APPROX 3 BEAUTIFUL ACRES
• SPACIOUS COVERED FRONT PORCH
• LEVEL ACREAGE
• PEACEFUL CREEK
• 20X40 GARAGE
• RV SIZED CARPORT

Property features AI

Exterior

• Parking: Gravel driveway; Detached garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single family detached residence; One level / One story
• Construction: Vinyl siding
• Exterior features: Garden; Porch; Fenced yard; Stream on the property; Wooded lot; Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Electric range; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Ceiling fan(s)
• Interior features: Pantry; Vaulted ceilings; Bay window(s); Gas-log fireplace in family room and living room; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (20.5% below list).
• Recommended offer: $175k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.1% in Fancy Gap — 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 56/100 on livability (#515 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Carroll County Public School District (rural): math 60% / reading 70% proficiency, ranked #46 of 131 in VA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gladesboro Elementary (math 44% / reading 64%, grade C, #650 of 1,108 statewide, top 62%, 106 students, 85% FRL); Carroll County Middle (math 54% / reading 72%, grade B+, #134 of 342 statewide, top 40%, 756 students, 84% FRL); Carroll County High (math 64% / reading 67%, grade B, #204 of 319 statewide, top 65%, 1,069 students, 81% FRL) — zoned schools average 83% FRL vs 48% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 80 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.9% local appreciation)).
• Carroll County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,891 (20.5% 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 111 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.70%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.19×
• Total profit: $11,743
• Equity at exit: $97,051

10-year hold

• IRR: 6.8%
• Equity multiple: 2.01×
• Total profit: $62,442
• Equity at exit: $148,130

Cash invested: $61,600 (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 24328

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-205

Break-even live

Break-even rent $2,009

Max offer price $190,309

Occupancy floor —

Sensitivity live

Price	-10% $-53	-5% $-129	+0% $-205	+5% $-281	+10% $-357
Rent	-10% $-343	-5% $-274	+0% $-205	+5% $-136	+10% $-67
Rate	-1.0pp $-94	-0.5pp $-149	base $-205	+0.5pp $-262	+1.0pp $-320

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $220,000 Active 111 DOM
2. 2026-06-19
   days on market $220,000 Active 109 DOM
3. 2026-06-18
   days on market $220,000 Active 108 DOM
4. 2026-06-17
   days on market $220,000 Active 107 DOM
5. 2026-06-16
   days on market $220,000 Active 106 DOM
6. 2026-06-15
   days on market $220,000 Active 105 DOM
7. 2026-06-14
   days on market $220,000 Active 103 DOM
8. 2026-06-12
   days on market $220,000 Active 102 DOM
9. 2026-06-09
   days on market $220,000 Active 99 DOM
10. 2026-06-08
    days on market $220,000 Active 98 DOM
11. 2026-06-07
    days on market $220,000 Active 97 DOM
12. 2026-06-05
    days on market $220,000 Active 94 DOM
13. 2026-06-02
    days on market $220,000 Active 92 DOM
14. 2026-06-01
    days on market $220,000 Active 91 DOM
15. 2026-05-31
    days on market $220,000 Active 90 DOM
16. 2026-05-30
    days on market $220,000 Active 89 DOM
17. 2026-04-29
    price $230,000
18. 2026-04-28
    price $230,000 1121-char remark

    Show marketing remark (1121 chars)

    Welcome home to peaceful country living! Nestled on approximately 3 beautiful acres, this inviting 2-bedroom, 1-bath home offers the perfect blend of comfort, privacy, and outdoor enjoyment. Step onto the spacious covered front porch, the ideal spot for morning coffee, rocking chairs, and soaking in the quiet surroundings. Inside, you'll find a cozy and functional layout with comfortable living space, making it perfect for a starter home, downsizing, or even a weekend getaway. Outside is where this property truly shines. The level acreage provides room for gardening, animals, or simply enjoying wide-open space. A perfect mini-farm! A peaceful creek runs along the property, adding charm and a relaxing natural backdrop. The 20x40 garage allows for plenty of storage and workspace, and the RV sized carport along with hook-ups provide additional opportunity for friends and family to stay! Mature trees offer shade and privacy, creating a serene setting you'll love coming home to. With plenty of room to roam and a setting that feels like your own private retreat, this property offers country living at its best!

19. 2026-03-24
    price $240,000 1121-char remark

    Show marketing remark (1121 chars)

    Welcome home to peaceful country living! Nestled on approximately 3 beautiful acres, this inviting 2-bedroom, 1-bath home offers the perfect blend of comfort, privacy, and outdoor enjoyment. Step onto the spacious covered front porch, the ideal spot for morning coffee, rocking chairs, and soaking in the quiet surroundings. Inside, you'll find a cozy and functional layout with comfortable living space, making it perfect for a starter home, downsizing, or even a weekend getaway. Outside is where this property truly shines. The level acreage provides room for gardening, animals, or simply enjoying wide-open space. A perfect mini-farm! A peaceful creek runs along the property, adding charm and a relaxing natural backdrop. The 20x40 garage allows for plenty of storage and workspace, and the RV sized carport along with hook-ups provide additional opportunity for friends and family to stay! Mature trees offer shade and privacy, creating a serene setting you'll love coming home to. With plenty of room to roam and a setting that feels like your own private retreat, this property offers country living at its best!

20. 2026-03-24
    price $240,000

    Show marketing remark (1121 chars)

    Welcome home to peaceful country living! Nestled on approximately 3 beautiful acres, this inviting 2-bedroom, 1-bath home offers the perfect blend of comfort, privacy, and outdoor enjoyment. Step onto the spacious covered front porch, the ideal spot for morning coffee, rocking chairs, and soaking in the quiet surroundings. Inside, you'll find a cozy and functional layout with comfortable living space, making it perfect for a starter home, downsizing, or even a weekend getaway. Outside is where this property truly shines. The level acreage provides room for gardening, animals, or simply enjoying wide-open space. A perfect mini-farm! A peaceful creek runs along the property, adding charm and a relaxing natural backdrop. The 20x40 garage allows for plenty of storage and workspace, and the RV sized carport along with hook-ups provide additional opportunity for friends and family to stay! Mature trees offer shade and privacy, creating a serene setting you'll love coming home to. With plenty of room to roam and a setting that feels like your own private retreat, this property offers country living at its best!

21. 2026-03-02
    listed $250,000 Active
22. 2026-02-27
    listed $250,000 Active 1121-char remark

    Show marketing remark (1121 chars)

    Welcome home to peaceful country living! Nestled on approximately 3 beautiful acres, this inviting 2-bedroom, 1-bath home offers the perfect blend of comfort, privacy, and outdoor enjoyment. Step onto the spacious covered front porch, the ideal spot for morning coffee, rocking chairs, and soaking in the quiet surroundings. Inside, you'll find a cozy and functional layout with comfortable living space, making it perfect for a starter home, downsizing, or even a weekend getaway. Outside is where this property truly shines. The level acreage provides room for gardening, animals, or simply enjoying wide-open space. A perfect mini-farm! A peaceful creek runs along the property, adding charm and a relaxing natural backdrop. The 20x40 garage allows for plenty of storage and workspace, and the RV sized carport along with hook-ups provide additional opportunity for friends and family to stay! Mature trees offer shade and privacy, creating a serene setting you'll love coming home to. With plenty of room to roam and a setting that feels like your own private retreat, this property offers country living at its best!

23. 2024-07-11
    soldstatus $200,200
24. 2024-07-10
    soldstatus $200,200 Closed 416-char remark

    Show marketing remark (416 chars)

    Come see this charming home located on the mini-farm you have been looking for! Sitting on 3.7 flat ac, with a nice creek and foot bridge, you will have ample room for gardening, animals, or simply enjoying the outdoors! And located just minutes from the Blue Ridge Parkway! The house is cozy, and offers ample living space, perfect for everyday living. Schedule your showing today! New HVAC 2022, New well pump 2023

25. 2024-06-25
    status Pending 416-char remark

    Show marketing remark (416 chars)

    Come see this charming home located on the mini-farm you have been looking for! Sitting on 3.7 flat ac, with a nice creek and foot bridge, you will have ample room for gardening, animals, or simply enjoying the outdoors! And located just minutes from the Blue Ridge Parkway! The house is cozy, and offers ample living space, perfect for everyday living. Schedule your showing today! New HVAC 2022, New well pump 2023

26. 2024-06-18
    status Active 416-char remark

    Show marketing remark (416 chars)

    Come see this charming home located on the mini-farm you have been looking for! Sitting on 3.7 flat ac, with a nice creek and foot bridge, you will have ample room for gardening, animals, or simply enjoying the outdoors! And located just minutes from the Blue Ridge Parkway! The house is cozy, and offers ample living space, perfect for everyday living. Schedule your showing today! New HVAC 2022, New well pump 2023

27. 2024-05-23
    historical Active Under Contract 416-char remark

    Show marketing remark (416 chars)

    Come see this charming home located on the mini-farm you have been looking for! Sitting on 3.7 flat ac, with a nice creek and foot bridge, you will have ample room for gardening, animals, or simply enjoying the outdoors! And located just minutes from the Blue Ridge Parkway! The house is cozy, and offers ample living space, perfect for everyday living. Schedule your showing today! New HVAC 2022, New well pump 2023

28. 2024-05-06
    listed $188,000 Active 416-char remark

    Show marketing remark (416 chars)

    Come see this charming home located on the mini-farm you have been looking for! Sitting on 3.7 flat ac, with a nice creek and foot bridge, you will have ample room for gardening, animals, or simply enjoying the outdoors! And located just minutes from the Blue Ridge Parkway! The house is cozy, and offers ample living space, perfect for everyday living. Schedule your showing today! New HVAC 2022, New well pump 2023

29. 2010-09-13
    soldstatus $89,000
30. 1998-04-16
    soldstatus $10,000

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 20 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: $20,987
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,898
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$6,400
• Taxable loss: −$6,292
• Est. tax savings @ 24.0%: +$1,510
• After-tax cash flow: $-952/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: Carroll County Public School District
• NCES district ID: 5100690
• Math proficiency: 60% ▼ -25.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $36,359
• Composite: 53.88/100
• National rank: #1406
• State rank: #46 of 131 in VA

Livability — Fancy Gap

• Score: 56/100
• State rank: #515
• US rank: #23081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,724

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 28,768 people
• By 2030: 27,909 · -3.0%
• By 2040: 25,788 · -10.4%
• By 2050: 23,522 · -18.2%
• By 2075: 19,045 · -33.8%
• By 2100: 14,801 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97%
• Common ancestry: Italian 7% Serbian 4% Slovak 2%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -30.9pp toward R · 2008: -32.4pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+62.7 2016: R+59.6 2012: R+39.4 2008: R+32.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.85%
• Current HPI: 168.5656
• 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

+2200.0% since first listed

14 events — show timeline

• 2026-04-29 Price Changed $230,000 NRVMLS
• 2026-04-28 Price Changed $230,000 SWVAR
• 2026-03-24 Price Changed $240,000 SWVAR
• 2026-03-24 Price Changed $240,000 NRVMLS
• 2026-03-02 Listed $250,000 NRVMLS
• 2026-02-27 Listed $250,000 SWVAR
• 2024-07-11 Sold (Public Records) $200,200 Public Records
• 2024-07-10 Sold (MLS) $200,200 SWVAR
• 2024-06-25 Pending — SWVAR
• 2024-06-18 Relisted — SWVAR
• 2024-05-23 Contingent — SWVAR
• 2024-05-06 Listed $188,000 SWVAR
• 2010-09-13 Sold (Public Records) $89,000 Public Records
• 1998-04-16 Sold (Public Records) $10,000 Public Records

Property tax history

-13.6%/yr

Latest (2025): $73 · -86.1% YoY. Source: county tax records.