539 Oakwood Ave · Pennington Gap, VA 24277

$129,000

2 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 9 Days on market

Built 1965 Est $118k · 9% over

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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 +11.9/30.0
• Appreciation +7.8/10.0
• Schools +5.0/10.0
• DSCR +3.5/10.0
• ARV discount +3.4/15.0
• Livability +3.1/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming and well-maintained two-bedroom home situated on a nice, level lot in a convenient location near shopping and dining in Pennington Gap. This inviting property features a spacious kitchen with plenty of room for cooking and gathering, along with a partially finished basement that includes a dedicated laundry area and offers additional flexible space. Enjoy the convenience of a covered carport and relax outdoors on the small covered patio--perfect for quiet mornings or evening unwinding. The home has seen important updates, including a roof replacement in 2013 and new siding installed in the late 2010s, providing peace of mind for years to come. With its combination of comfort, funct

Key facts

• Small covered patio
• Covered carport
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• PARTIALLY FINISHED BASEMENT
• DEDICATED LAUNDRY AREA
• COVERED CARPORT
• SMALL COVERED PATIO
• ROOF REPLACEMENT

Property features AI

Exterior

• Parking: Carport (1 space); Asphalt parking
• Utilities: Public water
• Home design: Single family residence; House
• Construction: Vinyl siding; Metal roof
• Exterior features: Level topography; Outbuilding

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Partially finished basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (25.3% below list).
• Recommended offer: $96k (25.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#410 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Lee County Public School District (rural): math 53% / reading 69% proficiency, ranked #62 of 131 in VA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elk Knob Elementary (math 47% / reading 52%, grade D, #742 of 1,108 statewide, top 70%, 283 students, 87% FRL); Pennington Middle (math 51% / reading 67%, grade B, #166 of 342 statewide, top 50%, 274 students, 100% FRL); Lee High (math 54% / reading 71%, grade B-, #226 of 319 statewide, top 72%, 781 students, 99% FRL) — zoned schools average 95% FRL vs 58% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 31 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($892 loan paydown + $7k appreciation (5.6% local appreciation)).
• Lee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $96,339 (25.3% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $118,326
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Pearl St	0.15mi	3/2.0 (+1)	1,080 (+1%)	15mo	$120,000	$111	69
488 N Johnson Dr	0.55mi	2/1.0	1,060 (-1%)	18mo	$82,500	$78	58
791 Kentucky St	0.62mi	2/1.0	1,196 (+12%)	2mo	$155,000	$130	49
250 Media St	0.70mi	3/1.0 (+1)	960 (-10%)	7mo	$55,000	$57	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.77×
• Total profit: $27,864
• Equity at exit: $77,796

10-year hold

• IRR: 12.6%
• Equity multiple: 3.43×
• Total profit: $87,761
• Equity at exit: $138,316

Cash invested: $36,120 (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 24277

• Home prices YoY: 3.5%
• Active inventory: 31
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$63 /mo · $755/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $-99

Break-even live

Break-even rent $1,088

Max offer price $111,595

Occupancy floor —

Sensitivity live

Price	-10% $-26	-5% $-62	+0% $-99	+5% $-135	+10% $-172
Rent	-10% $-175	-5% $-137	+0% $-99	+5% $-60	+10% $-22
Rate	-1.0pp $-34	-0.5pp $-66	base $-99	+0.5pp $-132	+1.0pp $-166

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-20
   listed $129,000 Active

ⓘ 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: $755 · $63/mo
• Projected year-2 tax: $1,058 · $88/mo
• Expected delta: +$303/yr (+$25/mo · 40.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 23 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: $11,561
• − Mortgage interest: −$7,226
• − Property taxes: −$755
• − Insurance: −$1,442
• − Repairs & maintenance: −$925
• − Management: −$925
• − Depreciation: −$3,753
• Taxable loss: −$3,465
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $-351/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: Lee County Public School District
• NCES district ID: 5102190
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -9.00%
• Median HH income: $31,356
• Composite: 50.06/100
• National rank: #1913
• State rank: #62 of 131 in VA

Livability — Pennington Gap

• Score: 62/100
• State rank: #410
• US rank: #17149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pennington Gap, VA
• Population (ZIP): 6,379

Population outlook (Lee County) Hauer SSP2

• Today (2025): 22,861 people
• By 2030: 21,701 · -5.1%
• By 2040: 19,188 · -16.1%
• By 2050: 16,619 · -27.3%
• By 2075: 11,795 · -48.4%
• By 2100: 8,290 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 14% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+72.0) · D 13.8% · R 85.8%
• 2008→2024 swing: -43.8pp toward R · 2008: -28.2pp · 2024: -72.0pp
• All cycles: 2024: R+72.0 2020: R+69.1 2016: R+63.2 2012: R+44.4 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.59%
• Current HPI: 165.997
• 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

2 events — show timeline

• 2026-04-29 Pending — TVRMLS
• 2026-04-20 Listed $129,000 TVRMLS

Property tax history

+6.6%/yr

Latest (2025): $755 · +69.2% YoY. Source: county tax records.