1206 Irondale Rd · Big Stone Gap, VA 24219

$59,000

3 bd · 1.0 ba · 908 sqft · SingleFamily public records · 112 Days on market

Built 1923 3.40 ac lot $65/sqft · 35% below area Est $90k · 35% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +6.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.399ac surveyed tract is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! Experience the country feel you want, with the convenience of just being minutes from US23, shops, hospitals, and schools!!! This would be the ideal property to build your dream home, place a doublewide, or develop into a lucrative AirBnB with several site options available!! On the property there is an UNINHABITABLE HOUSE , along with a couple outbuildings. Public water and electric is available. Other possibilities would be an ideal homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. Fulfill your dreams on this beautiful tract of land!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

Key facts

• Garden area
• Outbuildings
• Campsites

Tags

• MOUNTAIN VIEWS
• PUBLIC WATER
• ELECTRIC AVAILABLE
• OUTBUILDINGS
• GARDEN AREA
• CAMPSITES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($782 rent vs $59k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.3% in Big Stone 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 68/100 on livability (#279 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Wise County Public School District (town): math 74% / reading 79% proficiency, ranked #11 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 41 active listings in the ZIP; 17 units permitted in Wise County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wise County population projected at -26% 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 $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $35k; list at $59k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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 B-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. 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: 1.33% ✓
• Cap rate: 11.78%
• Cash-on-cash: 19.59%
• DSCR: 1.87
• GRM: 6.3

CMA / ARV

• ARV (median comp): $90,183
• List price: $59,000
• Delta: -34.58%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.6%
• Equity multiple: 1.46×
• Total profit: $7,589
• Equity at exit: $8,797

10-year hold

• IRR: 20.6%
• Equity multiple: 2.73×
• Total profit: $28,623
• Equity at exit: $5,101

Cash invested: $16,520 (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 24219

• Home prices YoY: -24.6%
• Active inventory: 41
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $782 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$14 /mo · $172/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $270

Break-even live

Break-even rent $441

Max offer price $59,000

Occupancy floor 61%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $59,000 Active 112 DOM
2. 2026-06-17
   days on market $59,000 Active 111 DOM
3. 2026-06-16
   days on market $59,000 Active 110 DOM
4. 2026-06-15
   days on market $59,000 Active 109 DOM
5. 2026-06-15
   days on market $59,000 Active 108 DOM
6. 2026-06-13
   pricedays on market $59,000 Active 107 DOM
7. 2026-06-12
   days on market $59,500 Active 106 DOM
8. 2026-06-09
   days on market $59,500 Active 103 DOM
9. 2026-06-08
   days on market $59,500 Active 102 DOM
10. 2026-06-08
    days on market $59,500 Active 101 DOM
11. 2026-06-07
    days on market $59,500 Active 100 DOM
12. 2026-06-03
    days on market $59,500 Active 97 DOM
13. 2026-06-02
    days on market $59,500 Active 96 DOM
14. 2026-06-01
    days on market $59,500 Active 95 DOM
15. 2026-05-31
    days on market $59,500 Active 94 DOM
16. 2026-05-14
    price $59,500 986-char remark

    Show marketing remark (986 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.399ac surveyed tract is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! Experience the country feel you want, with the convenience of just being minutes from US23, shops, hospitals, and schools!!! This would be the ideal property to build your dream home, place a doublewide, or develop into a lucrative AirBnB with several site options available!! On the property there is an UNINHABITABLE HOUSE , along with a couple outbuildings. Public water and electric is available. Other possibilities would be an ideal homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. Fulfill your dreams on this beautiful tract of land!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

17. 2026-03-14
    price $65,000 986-char remark

    Show marketing remark (986 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.399ac surveyed tract is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! Experience the country feel you want, with the convenience of just being minutes from US23, shops, hospitals, and schools!!! This would be the ideal property to build your dream home, place a doublewide, or develop into a lucrative AirBnB with several site options available!! On the property there is an UNINHABITABLE HOUSE , along with a couple outbuildings. Public water and electric is available. Other possibilities would be an ideal homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. Fulfill your dreams on this beautiful tract of land!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

18. 2026-02-26
    listed $59,000 Active 986-char remark

    Show marketing remark (986 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.399ac surveyed tract is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! Experience the country feel you want, with the convenience of just being minutes from US23, shops, hospitals, and schools!!! This would be the ideal property to build your dream home, place a doublewide, or develop into a lucrative AirBnB with several site options available!! On the property there is an UNINHABITABLE HOUSE , along with a couple outbuildings. Public water and electric is available. Other possibilities would be an ideal homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. Fulfill your dreams on this beautiful tract of land!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

19. 2023-09-25
    soldstatus $35,000 Closed 737-char remark

    Show marketing remark (737 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.4 acre tract of land is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! This would be the ideal property to build your dream home, or place a doublewide. There is a UNINHABITABLE HOUSE on the property, along with a couple outbuildings. This property would be ideal for a homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. This is a beautiful tract of land, you have to see it!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

20. 2023-08-27
    historical Active Under Contract 737-char remark

    Show marketing remark (737 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.4 acre tract of land is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! This would be the ideal property to build your dream home, or place a doublewide. There is a UNINHABITABLE HOUSE on the property, along with a couple outbuildings. This property would be ideal for a homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. This is a beautiful tract of land, you have to see it!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

21. 2023-08-16
    listed $40,000 Active 737-char remark

    Show marketing remark (737 chars)

    Are you looking for land in the beautiful mountains of SWVA?!? Look no further!!!! This 3.4 acre tract of land is ready to develop your dreams!!! There is a beautiful creek halfway through the property, and gorgeous views of the mountains! This would be the ideal property to build your dream home, or place a doublewide. There is a UNINHABITABLE HOUSE on the property, along with a couple outbuildings. This property would be ideal for a homestead, garden area, campsites, a mini-farm, or just a place to enjoy recreational activities. This is a beautiful tract of land, you have to see it!!! All information taken from public records. Buyer and buyers agent to verify all information in this listing. Subject to errors and omissions.

22. 2021-06-10
    soldstatus $154,100

ⓘ 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: $172 · $14/mo
• Projected year-2 tax: $484 · $40/mo
• Expected delta: +$312/yr (+$26/mo · 181.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 48% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,387
• − Mortgage interest: −$3,305
• − Property taxes: −$172
• − Insurance: −$295
• − Repairs & maintenance: −$751
• − Management: −$751
• − Depreciation: −$1,716
• Taxable income: $2,397
• Est. tax owed @ 24.0%: −$575
• After-tax cash flow: $2,661/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: Wise County Public School District
• NCES district ID: 5104080
• Math proficiency: 74% ▼ -20.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $35,624
• Composite: 63.37/100
• National rank: #625
• State rank: #11 of 131 in VA

Livability — Big Stone Gap

• Score: 68/100
• State rank: #279
• US rank: #10035

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,416

Population outlook (Wise County) Hauer SSP2

• Today (2025): 35,714 people
• By 2030: 33,742 · -5.5%
• By 2040: 29,870 · -16.4%
• By 2050: 26,233 · -26.5%
• By 2075: 18,296 · -48.8%
• By 2100: 12,147 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 10% Two or more races 3%
• Common ancestry: Slovak 3% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Wise

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -35.6pp toward R · 2008: -27.7pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+61.7 2016: R+62.0 2012: R+48.8 2008: R+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.21%
• Current HPI: 144.2927
• 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

-61.4% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $59,500 TVRMLS
• 2026-03-14 Price Changed $65,000 TVRMLS
• 2026-02-26 Listed $59,000 TVRMLS
• 2023-09-25 Sold (MLS) $35,000 TVRMLS
• 2023-08-27 Contingent — TVRMLS
• 2023-08-16 Listed $40,000 TVRMLS
• 2021-06-10 Sold (Public Records) $154,100 Public Records

Property tax history

-1.1%/yr

Latest (2025): $172 · +0.0% YoY. Source: county tax records.