1209 B University Ter Unit B · Blacksburg, VA 24060

$279,000

4 bd · 2.0 ba · 1,071 sqft · Condo public records · 53 Days on market

Built 1987 $261/sqft · at area comps Est $270k · at est. $205/mo HOA · 9% of rent

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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
• ARV discount +5.9/15.0
• Schools +5.4/10.0
• Livability +4.4/5.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 2 bath ground-level condo in University Terrace, one of Blacksburg’s most convenient locations for Virginia Tech access. This spacious unit offers a functional floor plan ideal for student living or investment ownership. The ground-level location provides easy access along with a private patio and attached storage area. Situated just minutes from Virginia Tech campus with Blacksburg Transit (BT) bus stop nearby, making commuting to class quick and convenient. Close to shopping, dining, grocery stores, and everyday amenities along the U. S. 460 corridor. A great opportunity for parents seeking student housing or investors looking for strong rental potential in the Blacksburg market

Key facts

• Virginia tech access
• Private patio
• Ground-level condo

Tags

• GROUND-LEVEL CONDO
• PRIVATE PATIO
• ATTACHED STORAGE AREA
• VIRGINIA TECH ACCESS
• BLACKSBURG TRANSIT BUS STOP
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-70 ($-839/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (16.0% below list).
• Recommended offer: $234k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.5% in Blacksburg — 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 88/100 on livability (#8 in VA, #215 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living C-, housing C-.
• 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; 6 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 42% 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 $2k of loan paydown is wiped out by about $8k 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 53 days — a 3% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $119k; list at $279k implies a 134% gain — meaningful room to come down on a strong offer.

Recommended offer $234,487 (16.0% 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 53 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

• ARV (median comp): $269,626
• List price: $279,000
• Delta: 3.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.39×
• Total profit: $-47,368
• Equity at exit: $41,600

10-year hold

• IRR: -7.2%
• Equity multiple: 0.52×
• Total profit: $-37,387
• Equity at exit: $24,123

Cash invested: $78,120 (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 24060

• Rents YoY: 4.0%
• Active inventory: 313
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,345 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$116
• HOA: −$205
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-70

Break-even live

Break-even rent $2,433

Max offer price $266,650

Occupancy floor 98%

Sensitivity live

Price	-10% $88	-5% $9	+0% $-70	+5% $-149	+10% $-228
Rent	-10% $-255	-5% $-163	+0% $-70	+5% $23	+10% $115
Rate	-1.0pp $71	-0.5pp $1	base $-70	+0.5pp $-142	+1.0pp $-216

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 Patrick Henry Dr Blacksburg, VA	2.0–4.0	2.0–4.0	1171	$1,100	$0.94	44d	2	0.15mi
1711 Whipple Dr Blacksburg, VA	4.0	2.0	1173	$565	$0.48	44d	1	0.72mi
524 Prices Fork Rd Unit C-07 Blacksburg, VA	3.0	1.0	923	$1,880	$2.04	44d	1	0.77mi
712 Roanoke St E Unit 712-1 Blacksburg, VA	3.0	2.0	760	$1,800	$2.37	44d	1	1.12mi
1912 Tabor Village Dr Blacksburg, VA	3.0	3.0	1248	$2,025	$1.62	44d	1	1.22mi
200 Hampton Ct Blacksburg, VA	3.0	1.0–1.5	851	$2,906	$3.41	44d	1	1.38mi

HOA detail condo

• Monthly dues: $205 · $2,460/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-04
   status Pending 706-char remark

   Show marketing remark (706 chars)

   4 bedroom, 2 bath ground-level condo in University Terrace, one of Blacksburg’s most convenient locations for Virginia Tech access. This spacious unit offers a functional floor plan ideal for student living or investment ownership. The ground-level location provides easy access along with a private patio and attached storage area. Situated just minutes from Virginia Tech campus with Blacksburg Transit (BT) bus stop nearby, making commuting to class quick and convenient. Close to shopping, dining, grocery stores, and everyday amenities along the U. S. 460 corridor. A great opportunity for parents seeking student housing or investors looking for strong rental potential in the Blacksburg market

2. 2026-03-12
   listed $279,000 Active 706-char remark

   Show marketing remark (706 chars)

   4 bedroom, 2 bath ground-level condo in University Terrace, one of Blacksburg’s most convenient locations for Virginia Tech access. This spacious unit offers a functional floor plan ideal for student living or investment ownership. The ground-level location provides easy access along with a private patio and attached storage area. Situated just minutes from Virginia Tech campus with Blacksburg Transit (BT) bus stop nearby, making commuting to class quick and convenient. Close to shopping, dining, grocery stores, and everyday amenities along the U. S. 460 corridor. A great opportunity for parents seeking student housing or investors looking for strong rental potential in the Blacksburg market

3. 2011-10-11
   soldstatus $119,000

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$632/yr (+$53/mo · 38.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 19 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: $28,138
• − Mortgage interest: −$15,628
• − Property taxes: −$1,656
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,251
• − Management: −$2,251
• − HOA: −$2,460
• − Depreciation: −$8,116
• Taxable loss: −$5,619
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $510/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 — Blacksburg

• Score: 88/100
• State rank: #8
• US rank: #215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blacksburg, VA
• County: Montgomery County · 78,218 people
• City population: 48,541
• 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

+134.5% since first listed

3 events — show timeline

• 2026-05-04 Pending — NRVMLS
• 2026-03-12 Listed $279,000 NRVMLS
• 2011-10-11 Sold (Public Records) $119,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,656 · +1.3% YoY. Source: county tax records.