The Waverly Plan · Prices Fork, VA 24060

$349,900

3 bd · 2.5 ba · 1,921 sqft · SingleFamily · 200 Days on market

↓ 4% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Cash flow +2.9/30.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clifton Town Center Grand Opening!. Now pre-selling with $10,000 bonus savings available * Step into the thoughtfully crafted Waverly-a bright and airy home in the heart of Clifton Town Center in Christiansburg. This spacious new construction home delivers ample square footage at over 1900 sq. ft, durable LVP flooring, and low-maintenance living perfect for today's busy lifestyles. Large windows throughout fill the home with natural light. The open-concept great room flows into a gourmet kitchen with a large center island-ideal for prep space and entertaining. Upstairs, relax in the serene owner's suite boasting a luxurious walk-in shower and generous walk-in closet. Flexible 2 or 3 bedroom options, including a potential double owner's suite to adapt to your needs. The first floor features a convenient 1-car garage as well as a flex space, easily transforming into a rec room, home office, or gym. Enjoy maintenance-free living, energy-efficient design, and the peace of mind that comes with a 10-year new home warranty-all in a walkable community steps from shopping, dining, Huckleberry Park and Trail and a short drive to Virginia Tech, the Corporate Research Center, Radford, and Roanoke. Personalize your Waverly today at our Design Center.

Key facts

• Large windows
• Main level kitchen
• Rec room

Tags

• LARGE WINDOWS
• MAIN LEVEL KITCHEN
• OWNER'S SUITE
• OVERSIZED WALK-IN CLOSET
• REC ROOM
• WALKABLE COMMUNITY

🏗️ New construction. The $349,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $545,940.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (28.7% below list).
• Recommended offer: $250k (28.7% below list) — sets the bar for 1% rule.
• Cap rate 2.3% vs local median 3.1% in Prices Fork — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 83/100 on livability (#42 in VA, #1,003 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A; Watch: amenities F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+4.0%/yr); 313 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $249,601 (28.7% 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 200 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.46% ✗
• Cap rate: 2.33%
• Cash-on-cash: -14.14%
• DSCR: 0.37
• GRM: 18.2

CMA / ARV

• ARV (median comp): $545,940
• List price: $349,900
• Delta: -35.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1711 Kyles Way	0.39mi	3/2.5	1,919 (-0%)	3mo	$572,670	$298	79
3930 Prices Fork Rd. Rd	0.31mi	3/3.5	1,905 (-1%)	8mo	$564,900	$297	73
4065 Emilia Way	0.18mi	4/2.5 (+1)	1,900 (-1%)	14mo	$532,020	$280	73
1754 Kyles Way	0.15mi	3/2.0	2,116 (+10%)	23mo	$644,130	$304	55
1776 Kyles Way	0.42mi	3/2.5	2,100 (+9%)	20mo	$532,364	$254	48
3060 Natalies Way	0.52mi	3/2.5	2,100 (+9%)	15mo	$633,762	$302	48
1334 Sandy Cir	0.48mi	4/3.0 (+1)	1,812 (-6%)	19mo	$372,000	$205	46
3070 Natalies Way	0.54mi	3/2.5	2,100 (+9%)	18mo	$586,652	$279	44
3081 Natalies Way	0.56mi	3/2.5	2,100 (+9%)	22mo	$817,078	$389	40
3080 Natalies Way	0.56mi	4/3.5 (+1)	2,094 (+9%)	15mo	$580,523	$277	38
1344 Mockingbird Dr	0.52mi	4/2.0 (+1)	2,202 (+15%)	12mo	$425,000	$193	34

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

Projected returns pro-forma

-3.0% appreciation · 3.95% rent growth · sell at horizon

5-year hold

• IRR: -42.1%
• Equity multiple: -0.31×
• Total profit: $-200,728
• Equity at exit: $81,401

10-year hold

• IRR: -64.9%
• Equity multiple: -1.04×
• Total profit: $-312,266
• Equity at exit: $47,203

Cash invested: $152,863 (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 24060

• Rents YoY: 4.0%
• Active inventory: 313
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,496 high
• Mortgage (P&I): −$2,863
• Tax est. 1.5%: −$682 /mo · $8,189/yr
• Insurance: −$227
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $-1,801

Break-even live

Break-even rent $4,776

Max offer price $285,329

Occupancy floor —

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: $136,485
• Closing costs: $16,378
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3016 Deptford St Blacksburg, VA	3.0	3.5	2082	$2,800	$1.34	44d	1	0.08mi
1071 Balsam Ln Unit 301 Blacksburg, VA	3.0	3.5	2096	$2,500	$1.19	44d	1	0.09mi
1085 Balsam Ln Unit WHT304 Blacksburg, VA	3.0	3.5	2096	$2,600	$1.24	44d	1	0.14mi
1063 Balsam Ln Blacksburg, VA	3.0	2.5	2100	$2,700	$1.29	44d	1	0.16mi
2906 Cara Ct Unit 2906 Blacksburg, VA	3.0	2.5	1364	$1,700	$1.25	44d	1	0.37mi
2904 Cara Ct Unit 2904 Blacksburg, VA	3.0	2.5	1364	$1,700	$1.25	44d	1	0.38mi
2005 Kyles Way Blacksburg, VA	3.0	2.5	1658	$2,200	$1.33	44d	1	0.77mi
2020 Kyles Way Blacksburg, VA	2.0	2.5	1296	$1,995	$1.54	44d	1	0.80mi
2016 Kyles Way Blacksburg, VA	3.0	3.0	1617	$2,375	$1.47	44d	1	0.81mi
2030 Kyles Way Blacksburg, VA	2.0	2.5	1296	$1,995	$1.54	44d	1	0.82mi
2050 Kyles Way Blacksburg, VA	3.0	2.5	1271	$2,500	$1.97	44d	1	0.85mi
2836 Wellesley Ct Blacksburg, VA	3.0	2.5	2002	$2,275	$1.14	44d	1	1.30mi

Listing history 19 events

1. 2026-06-19
   days on market $349,900 Active 200 DOM
2. 2026-06-18
   days on market $349,900 Active 199 DOM
3. 2026-06-17
   days on market $349,900 Active 198 DOM
4. 2026-06-16
   days on market $349,900 Active 197 DOM
5. 2026-06-15
   days on market $349,900 Active 196 DOM
6. 2026-06-14
   days on market $349,900 Active 194 DOM
7. 2026-06-13
   days on market $349,900 Active 193 DOM
8. 2026-06-10
   days on market $349,900 Active 191 DOM
9. 2026-06-09
   days on market $349,900 Active 190 DOM
10. 2026-06-08
    days on market $349,900 Active 189 DOM
11. 2026-06-07
    days on market $349,900 Active 188 DOM
12. 2026-06-05
    days on market $349,900 Active 185 DOM
13. 2026-06-03
    days on market $349,900 Active 184 DOM
14. 2026-06-02
    days on market $349,900 Active 183 DOM
15. 2026-06-01
    days on market $349,900 Active 182 DOM
16. 2026-05-31
    days on market $349,900 Active 181 DOM
17. 2026-05-30
    days on market $349,900 Active 180 DOM
18. 2025-12-15
    price $349,900 1259-char remark

    Show marketing remark (1259 chars)

    Clifton Town Center Grand Opening!. Now pre-selling with $10,000 bonus savings available * Step into the thoughtfully crafted Waverly-a bright and airy home in the heart of Clifton Town Center in Christiansburg. This spacious new construction home delivers ample square footage at over 1900 sq. ft, durable LVP flooring, and low-maintenance living perfect for today's busy lifestyles. Large windows throughout fill the home with natural light. The open-concept great room flows into a gourmet kitchen with a large center island-ideal for prep space and entertaining. Upstairs, relax in the serene owner's suite boasting a luxurious walk-in shower and generous walk-in closet. Flexible 2 or 3 bedroom options, including a potential double owner's suite to adapt to your needs. The first floor features a convenient 1-car garage as well as a flex space, easily transforming into a rec room, home office, or gym. Enjoy maintenance-free living, energy-efficient design, and the peace of mind that comes with a 10-year new home warranty-all in a walkable community steps from shopping, dining, Huckleberry Park and Trail and a short drive to Virginia Tech, the Corporate Research Center, Radford, and Roanoke. Personalize your Waverly today at our Design Center.

19. 2025-12-01
    listed $365,900 Active 1259-char remark

    Show marketing remark (1259 chars)

    Clifton Town Center Grand Opening!. Now pre-selling with $10,000 bonus savings available * Step into the thoughtfully crafted Waverly-a bright and airy home in the heart of Clifton Town Center in Christiansburg. This spacious new construction home delivers ample square footage at over 1900 sq. ft, durable LVP flooring, and low-maintenance living perfect for today's busy lifestyles. Large windows throughout fill the home with natural light. The open-concept great room flows into a gourmet kitchen with a large center island-ideal for prep space and entertaining. Upstairs, relax in the serene owner's suite boasting a luxurious walk-in shower and generous walk-in closet. Flexible 2 or 3 bedroom options, including a potential double owner's suite to adapt to your needs. The first floor features a convenient 1-car garage as well as a flex space, easily transforming into a rec room, home office, or gym. Enjoy maintenance-free living, energy-efficient design, and the peace of mind that comes with a 10-year new home warranty-all in a walkable community steps from shopping, dining, Huckleberry Park and Trail and a short drive to Virginia Tech, the Corporate Research Center, Radford, and Roanoke. Personalize your Waverly today at our Design Center.

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $29,952
• − Mortgage interest: −$30,581
• − Property taxes: −$8,189
• − Insurance: −$2,730
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$15,882
• Taxable loss: −$32,222
• Est. tax savings @ 24.0%: +$7,733
• After-tax cash flow: $-13,879/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: Montgomery County Public School District
• NCES district ID: 5102520
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 70% ▼ -11.00%
• Median HH income: $46,618
• Composite: 53.6/100
• National rank: #1440
• State rank: #47 of 131 in VA

Livability — Prices Fork

• Score: 83/100
• State rank: #42
• US rank: #1003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prices Fork, VA
• County: Montgomery County · 78,218 people
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 48,541
• Household income: $67,675
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 3694.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 105,748 people
• By 2030: 110,301 · +4.3%
• By 2040: 115,652 · +9.4%
• By 2050: 119,651 · +13.1%
• By 2075: 126,005 · +19.2%
• By 2100: 129,771 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 86% English-only · Other Indo-European 4% Chinese 3% Spanish 3%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 50.9% · R 47.4% · Other 1.7%
• 2008→2024 swing: -1.4pp toward R · 2008: 4.9pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+5.8 2016: D+1.3 2012: R+0.2 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.54%
• Current HPI: 289.8166
• Rent YoY: ▲ 3.95%
• Metro: Blacksburg-Christiansburg, VA
• 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

-4.4% since first listed

2 events — show timeline

• 2025-12-15 Price Changed $349,900 Zillow
• 2025-12-01 Listed $365,900 Zillow