420 Dogwood Hill Rd · Boones Mill, VA 24065

$45,000

2 bd · 1.0 ba · 616 sqft · SingleFamily public records · 19 Days on market

Built 1940 0.94 ac lot $73/sqft · 56% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• 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

INVESTOR SPECIAL - VALUE IS IN THE LAND! Great opportunity just minutes from Roanoke! This 2-bedroom home sits on a lot with public water and sewer already in place—a rare find. The house features a screened porch and offers solid bones but needs some TLC. Whether you're looking to renovate or rebuild, the real value is in the land and location. Convenient access to shopping, dining, and major roads, this property has fantastic investment potential.

Key facts

• 0.94 acres
• 0.94 acre lot
• Built 1940

Tags

• 0.94 ACRES
• SCREENED IN FRONT PORCH
• PUBLIC WATER AND SEWER

Property features AI

Finance

• Financial info: Listing price available

Exterior

• Parking: Off-street parking
• Utilities: Has heating (forced air oil)
• Home design: Residential property; Built in 1940; Approximately 0.94-acre lot
• Construction: Year built: 1940
• Exterior features: Front porch; Off-street parking

Interior

• Bedrooms: Two bedrooms, both on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air oil heating
• Interior features: Five total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#303 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities F, commute F, health & safety F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 43 active listings in the ZIP; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Franklin County population projected at -11% 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $10k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.88% ✓
• Cap rate: 26.07%
• Cash-on-cash: 70.65%
• DSCR: 4.14
• GRM: 2.9

CMA / ARV

• ARV (median comp): $101,308
• List price: $45,000
• Delta: -55.58%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 Dogwood Hill Rd	0.00mi	2/1.0	616 (0%)	13mo	$39,900	$65	89

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.4%
• Equity multiple: 3.84×
• Total profit: $35,762
• Equity at exit: $6,710

10-year hold

• IRR: 67.9%
• Equity multiple: 7.88×
• Total profit: $86,696
• Equity at exit: $3,891

Cash invested: $12,600 (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 24065

• Home prices YoY: -25.9%
• Active inventory: 43
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,295 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $675

Break-even live

Break-even rent $440

Max offer price $45,000

Occupancy floor 43%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-03
   listed $55,000 Active 463-char remark
2. 2025-05-14
   soldstatus $39,900
3. 2025-05-13
   soldstatus $39,900 Closed 460-char remark

   Show marketing remark (460 chars)

   INVESTOR SPECIAL - VALUE IS IN THE LAND! Great opportunity just minutes from Roanoke! This 2-bedroom home sits on a lot with public water and sewer already in place—a rare find. The house features a screened porch and offers solid bones but needs some TLC. Whether you're looking to renovate or rebuild, the real value is in the land and location. Convenient access to shopping, dining, and major roads, this property has fantastic investment potential.

4. 2025-05-01
   status Pending 460-char remark

   Show marketing remark (460 chars)

   INVESTOR SPECIAL - VALUE IS IN THE LAND! Great opportunity just minutes from Roanoke! This 2-bedroom home sits on a lot with public water and sewer already in place—a rare find. The house features a screened porch and offers solid bones but needs some TLC. Whether you're looking to renovate or rebuild, the real value is in the land and location. Convenient access to shopping, dining, and major roads, this property has fantastic investment potential.

5. 2025-04-28
   listed $39,900 Active 460-char remark

   Show marketing remark (460 chars)

   INVESTOR SPECIAL - VALUE IS IN THE LAND! Great opportunity just minutes from Roanoke! This 2-bedroom home sits on a lot with public water and sewer already in place—a rare find. The house features a screened porch and offers solid bones but needs some TLC. Whether you're looking to renovate or rebuild, the real value is in the land and location. Convenient access to shopping, dining, and major roads, this property has fantastic investment potential.

6. 2024-10-01
   soldstatus $26,000 Closed

   Show marketing remark (240 chars)

   Home Sitting on . 943 Tenths of an Acre in the Heart of Boones Mill. This Home has a New Roof. The Home sits on a Nice lot and has been Stripped Back to the Studs on the Inside and is ready to remodel. Turn this Home into your own design.

7. 2024-10-01
   soldstatus $73,100

   Show marketing remark (240 chars)

   Home Sitting on . 943 Tenths of an Acre in the Heart of Boones Mill. This Home has a New Roof. The Home sits on a Nice lot and has been Stripped Back to the Studs on the Inside and is ready to remodel. Turn this Home into your own design.

8. 2024-09-19
   status Pending

   Show marketing remark (240 chars)

   Home Sitting on . 943 Tenths of an Acre in the Heart of Boones Mill. This Home has a New Roof. The Home sits on a Nice lot and has been Stripped Back to the Studs on the Inside and is ready to remodel. Turn this Home into your own design.

9. 2024-09-11
   price $39,000

   Show marketing remark (240 chars)

   Home Sitting on . 943 Tenths of an Acre in the Heart of Boones Mill. This Home has a New Roof. The Home sits on a Nice lot and has been Stripped Back to the Studs on the Inside and is ready to remodel. Turn this Home into your own design.

10. 2024-08-01
    listed $49,000 Active

    Show marketing remark (240 chars)

    Home Sitting on . 943 Tenths of an Acre in the Heart of Boones Mill. This Home has a New Roof. The Home sits on a Nice lot and has been Stripped Back to the Studs on the Inside and is ready to remodel. Turn this Home into your own design.

11. 2022-10-17
    historical
12. 2022-10-10
    price $59,000
13. 2022-09-20
    price $64,899
14. 2022-09-11
    price $64,900
15. 2022-08-22
    price $69,765
16. 2022-07-27
    price $72,999
17. 2022-07-12
    listed $74,999 Active
18. 2022-06-28
    soldstatus $31,000

ⓘ 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: $314 · $26/mo
• Projected year-2 tax: $369 · $31/mo
• Expected delta: +$55/yr (+$5/mo · 17.4%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 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: $15,535
• − Mortgage interest: −$2,521
• − Property taxes: −$314
• − Insurance: −$1,022
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$1,309
• Taxable income: $7,883
• Est. tax owed @ 24.0%: −$1,892
• After-tax cash flow: $6,212/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: Franklin County Public School District
• NCES district ID: 5101440
• Math proficiency: 69% ▼ -17.00%
• Reading proficiency: 72% ▼ -8.00%
• Median HH income: $47,093
• Composite: 59.5/100
• National rank: #921
• State rank: #24 of 131 in VA

Livability — Boones Mill

• Score: 67/100
• State rank: #303
• US rank: #10911

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boones Mill, VA
• Population (ZIP): 6,497

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 56,242 people
• By 2030: 55,742 · -0.9%
• By 2040: 53,669 · -4.6%
• By 2050: 50,291 · -10.6%
• By 2075: 42,395 · -24.6%
• By 2100: 32,981 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+45.3) · D 26.9% · R 72.2%
• 2008→2024 swing: -22.5pp toward R · 2008: -22.8pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+42.1 2016: R+42.2 2012: R+28.6 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.98%
• Current HPI: 177.7607
• 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

+45.2% since first listed

21 events — show timeline

• 2026-05-22 Pending — MLSRV
• 2026-05-22 Listing Removed — MLSRV
• 2026-05-20 Price Changed $45,000 MLSRV
• 2026-05-03 Listed $55,000 MLSRV
• 2025-05-14 Sold (Public Records) $39,900 Public Records
• 2025-05-13 Sold (MLS) $39,900 MLSRV
• 2025-05-01 Pending — MLSRV
• 2025-04-28 Listed $39,900 MLSRV
• 2024-10-01 Sold (Public Records) $73,100 Public Records
• 2024-10-01 Sold (MLS) $26,000 NRVMLS
• 2024-09-19 Pending — NRVMLS
• 2024-09-11 Price Changed $39,000 NRVMLS
• 2024-08-01 Listed $49,000 NRVMLS
• 2022-10-17 Listing Removed — MLSRV
• 2022-10-10 Price Changed $59,000 MLSRV
• 2022-09-20 Price Changed $64,899 MLSRV
• 2022-09-11 Price Changed $64,900 MLSRV
• 2022-08-22 Price Changed $69,765 MLSRV
• 2022-07-27 Price Changed $72,999 MLSRV
• 2022-07-12 Listed $74,999 MLSRV
• 2022-06-28 Sold (Public Records) $31,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $314 · -0.0% YoY. Source: county tax records.