816 15 St · Big Stone Gap, VA 24219

$60,000

3 bd · 2.0 ba · 1,445 sqft · SingleFamily public records · 37 Days on market

0.26 ac lot $42/sqft · 45% below area Est $109k · 45% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investor opportunity with incredible potential in the heart of Big Stone Gap! Situated on a gorgeous piece of land with beautiful mountain views, this property offers the perfect chance for a renovation project, or investment property. The existing home is distressed and in need of significant repairs or renovation, making this an ideal opportunity for investors, builders, or buyers looking to bring their vision to life. With a peaceful setting, scenic surroundings, and plenty of possibilities, this property combines the charm of Southwest Virginia with the chance to create something truly special. Conveniently located near town amenities while still offering a private, mountain-view feel,

Key facts

• Mountain views
• 0.26 acre lot
• Listed 37 days

Tags

• MOUNTAIN VIEWS
• PRIVATE MOUNTAIN VIEW FEEL

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Utilities: See remarks
• Home design: Single-family house; One level; Residential property
• Construction: Vinyl siding; Built as a house (year built not provided)
• Exterior features: Metal roof; Mountainous, sloped topography

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crawl space basement; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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.
• Zoned schools: Union High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 601 students, 86% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $415 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.58% ✓
• Cap rate: 13.72%
• Cash-on-cash: 26.54%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $109,478
• List price: $60,000
• Delta: -45.19%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.5%
• Equity multiple: 1.58×
• Total profit: $9,740
• Equity at exit: $8,946

10-year hold

• IRR: 23.2%
• Equity multiple: 3.00×
• Total profit: $33,633
• Equity at exit: $5,188

Cash invested: $16,800 (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: 5.3×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $305

Break-even live

Break-even rent $562

Max offer price $60,000

Occupancy floor 63%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $60,000 Active 37 DOM
2. 2026-06-17
   days on market $60,000 Active 36 DOM
3. 2026-06-16
   days on market $60,000 Active 35 DOM
4. 2026-06-15
   days on market $60,000 Active 34 DOM
5. 2026-06-15
   days on market $60,000 Active 33 DOM
6. 2026-06-13
   days on market $60,000 Active 32 DOM
7. 2026-06-12
   days on market $60,000 Active 31 DOM
8. 2026-06-09
   days on market $60,000 Active 28 DOM
9. 2026-06-08
   days on market $60,000 Active 27 DOM
10. 2026-06-08
    days on market $60,000 Active 26 DOM
11. 2026-06-07
    days on market $60,000 Active 25 DOM
12. 2026-06-03
    days on market $60,000 Active 22 DOM
13. 2026-06-02
    days on market $60,000 Active 21 DOM
14. 2026-06-01
    days on market $60,000 Active 20 DOM
15. 2026-05-31
    days on market $60,000 Active 19 DOM
16. 2026-05-11
    listed $60,000 Active 774-char remark

ⓘ 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: $453 · $38/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$39/yr (+$3/mo · 8.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 9 d/yr ≥97°F today · 25 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: $11,376
• − Mortgage interest: −$3,361
• − Property taxes: −$453
• − Insurance: −$1,098
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$1,745
• Taxable income: $2,899
• Est. tax owed @ 24.0%: −$696
• After-tax cash flow: $2,965/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

• Census place: Big Stone Gap, VA
• 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

1 event — show timeline

• 2026-05-11 Listed $60,000 TVRMLS

Property tax history

+2.0%/yr

Latest (2025): $453 · +0.0% YoY. Source: county tax records.