198 Mt Hope Church · Mineral, VA 23024

$250,000

3 bd · 1.0 ba · 1,375 sqft · SingleFamily public records · 23 Days on market

Built 1999 Fair condition 1.50 ac lot Est $320k · 22% under

---

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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• Schools +6.0/10.0
• 1% rule +4.4/10.0
• Appreciation +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0

Listing remarks MLS

Property being sold "As Is", needs complete rehab, will not qualify for most financing, several outbuildings and sheds, cemetery on the property, Mt. Hope Road splits the property.

Key facts

• Country living
• 1.5 peaceful acres
• Outdoor entertaining

Tags

• 1.5 PEACEFUL ACRES
• COUNTRY LIVING
• ROOM FOR GARDENING
• OUTDOOR ENTERTAINING
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Driveway parking for four vehicles (total of four garage/parking spaces reported)
• Utilities: Well water; On-site septic; Electric hot water
• Home design: Detached structure; Year built: estimated
• Construction: Block foundation
• Exterior features: Detached single-family property; Vinyl siding; Above-grade finished living space; No basement

Interior

• Bedrooms: Three main-level bedrooms
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heat pump with electric backup; Central air conditioning
• Interior features: One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (6.1% below list).
• Recommended offer: $235k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 2.2% in Mineral — 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 69/100 on livability (#246 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F.
• Louisa County Public School District (rural): math 64% / reading 77% proficiency, ranked #19 of 131 in VA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 167 active listings in the ZIP; 408 units permitted in Louisa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Louisa County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $87k; list at $250k implies a 187% gain — meaningful room to come down on a strong offer.

Recommended offer $234,821 (6.1% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $320,375
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14281 Jefferson Hwy	0.46mi	3/2.0	1,300 (-6%)	18mo	$320,000	$246	50
1822 Copper Line Rd	0.54mi	3/2.0	1,512 (+10%)	6mo	$310,000	$205	48
5070 Paynes Mill Rd	0.53mi	3/2.0	1,456 (+6%)	18mo	$339,000	$233	47

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

Projected returns pro-forma

-1.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.91×
• Total profit: $-6,221
• Equity at exit: $48,665

10-year hold

• IRR: 5.8%
• Equity multiple: 1.49×
• Total profit: $34,184
• Equity at exit: $41,694

Cash invested: $70,000 (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 23024

• Home prices YoY: -0.6%
• Active inventory: 167
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,348 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $372

Break-even live

Break-even rent $1,877

Max offer price $250,000

Occupancy floor 79%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $250,000 Active 23 DOM
2. 2026-06-17
   days on market $250,000 Active 22 DOM
3. 2026-06-16
   days on market $250,000 Active 21 DOM
4. 2026-06-15
   days on market $250,000 Active 20 DOM
5. 2026-06-13
   days on market $250,000 Active 18 DOM
6. 2026-06-13
   days on market $250,000 Active 17 DOM
7. 2026-06-09
   days on market $250,000 Active 14 DOM
8. 2026-06-08
   days on market $250,000 Active 13 DOM
9. 2026-06-07
   days on market $250,000 Active 12 DOM
10. 2026-06-04
    days on market $250,000 Active 9 DOM
11. 2026-06-03
    days on market $250,000 Active 8 DOM
12. 2026-06-02
    days on market $250,000 Active 7 DOM
13. 2026-06-01
    days on market $250,000 Active 6 DOM
14. 2026-05-31
    days on market $250,000 Active 5 DOM
15. 2026-05-26
    listed $250,000 Active
16. 2016-04-21
    soldstatus $87,000 190-char remark

    Show marketing remark (190 chars)

    Property being sold "As Is", needs complete rehab, will not qualify for most financing, several outbuildings and sheds, cemetery on the property, Mt. Hope Road splits the property.

17. 2016-03-03
    listed $89,500 190-char remark

    Show marketing remark (190 chars)

    Property being sold "As Is", needs complete rehab, will not qualify for most financing, several outbuildings and sheds, cemetery on the property, Mt. Hope Road splits the property.

ⓘ 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: $814 · $68/mo
• Projected year-2 tax: $2,050 · $171/mo
• Expected delta: +$1,236/yr (+$103/mo · 152.0%)

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

Taxation est. · year 1

• Rental income: $28,179
• − Mortgage interest: −$14,004
• − Property taxes: −$814
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − Depreciation: −$7,273
• Taxable income: $330
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $4,386/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.

Condition & rehab AI · 12 photos

Fair 40/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, roof, exterior, and HVAC system.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major bathroom fixtures — dated and non-functional
• Major roof — visible rust and wear
• Major exterior siding — chipped paint and damage
• Major HVAC system — outdated and likely inefficient

Value-add opportunities

• Resale kitchen renovation — modern kitchen with updated appliances
• Resale bathroom renovation — modern bathroom with updated fixtures
• Both HVAC system upgrade — energy-efficient system for comfort and savings

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and non-functional	Major	$15,000–50,000
roof · visible rust and wear	Major	$15,000–50,000
exterior siding · chipped paint and damage	Major	$15,000–50,000
HVAC system · outdated and likely inefficient	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale kitchen renovation — modern kitchen with updated appliances ↑
• Resale bathroom renovation — modern bathroom with updated fixtures ↑
• Both HVAC system upgrade — energy-efficient system for comfort and savings ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Louisa County Public School District
• NCES district ID: 5102280
• Math proficiency: 64% ▼ -21.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $55,036
• Composite: 60.21/100
• National rank: #862
• State rank: #19 of 131 in VA

Livability — Mineral

• Score: 69/100
• State rank: #246
• US rank: #8257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,770

Population outlook (Louisa County) Hauer SSP2

• Today (2025): 36,941 people
• By 2030: 37,752 · +2.2%
• By 2040: 38,605 · +4.5%
• By 2050: 38,480 · +4.2%
• By 2075: 38,011 · +2.9%
• By 2100: 34,748 · -5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Black 5% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Serbian 3% Scotch-Irish 3%
• Foreign-born: 3% · Canada, China, Jamaica
• Languages at home: 95% English-only · Russian/Polish/Slavic 3% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Louisa

• 2024 margin: Strong R (+26.2) · D 36.5% · R 62.7%
• 2008→2024 swing: -18.4pp toward R · 2008: -7.8pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+22.9 2016: R+24.6 2012: R+13.8 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.99%
• Current HPI: 351.4933
• 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

+179.3% since first listed

3 events — show timeline

• 2026-05-26 Listed $250,000 BRIGHT MLS
• 2016-04-21 Sold (MLS) $87,000 CVRMLS
• 2016-03-03 Listed $89,500 CVRMLS

Property tax history

+13.6%/yr

Latest (2024): $814 · +13.6% YoY. Source: county tax records.