109 N Main St · Edinburg, VA 22824

$325,000

20 bd · None ba · 4,248 sqft · MultiFamily · 30 Days on market

Built 1922 Average condition 5,358 sqft lot

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Spacious four-Unit multifamily property located in the heart of town, offering over 4,000 square feet of living space. This well-positioned investment opportunity features four separate units, providing strong income potential and flexibility for a variety of rental strategies. Conveniently situated near local shops, dining, and amenities, the property appeals to both tenants and investors alike. With its generous size and prime in town location, this is an excellent opportunity to expand your portfolio or generate consistent rental income.

Key facts

• 5,358 sq ft lot
• Built 1922
• Listed 30 days

Property features AI

Finance

• Other: Fee simple ownership
• Financial info: Four total units; Three units currently leased; One unit vacant; All existing leases are month-to-month

Exterior

• Parking: On-street parking; Alley access
• Utilities: Public water; Private sewer; Electric service
• Home design: Detached multi-unit building; Above-grade finished living space
• Construction: Vinyl siding exterior; Stone foundation; Above-grade and below-grade structures; Year built per assessor
• Exterior features: Located within city limits; No tidal water

Interior

• Bedrooms: Four-unit building with one 1-bedroom unit and two 2-bedroom units
• Heating & cooling: Electric baseboard heating; Electric hot water
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $325k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $450/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Recommended offer: $320k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#294 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety D-.
• Shenandoah County Public School District (town): math 46% / reading 58% proficiency, ranked #91 of 131 in VA (top 70%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: W.W. Robinson Elementary (math 53% / reading 49%, grade C-, #733 of 1,108 statewide, top 66%, 1,061 students, 74% FRL); Peter Muhlenberg Middle (math 33% / reading 57%, grade D, #274 of 342 statewide, top 81%, 451 students, 73% FRL); Central High (math 46% / reading 66%, grade C, #275 of 319 statewide, top 87%, 749 students, 73% FRL) — zoned schools average 73% FRL vs 37% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 224 units permitted in Shenandoah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Shenandoah County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $320,125 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.73%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.1%
• Equity multiple: 4.21×
• Total profit: $291,698
• Equity at exit: $292,786

10-year hold

• IRR: 36.4%
• Equity multiple: 9.45×
• Total profit: $769,021
• Equity at exit: $631,404

Cash invested: $91,000 (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 22824

• Home prices YoY: 8.9%
• Active inventory: 44
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $5,121 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,075
• Net cashflow: $1,800

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 60%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,120
Total (4 units)			$5,121

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-31
   status $325,000 Pending 30 DOM
2. 2026-05-01
   listed $325,000 Active 546-char remark
3. 2026-04-24
   historical $325,000 546-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $61,452
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,916
• − Management: −$4,916
• − Depreciation: −$9,455
• Taxable income: $17,460
• Est. tax owed @ 24.0%: −$4,190
• After-tax cash flow: $17,405/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 · 3 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to improve the exterior and landscaping, which would significantly enhance the property's resale and rental value.

Repairs flagged

• Minor Exterior paint — Light blue siding shows some discoloration
• Minor Landscaping — Some overgrown vegetation

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Landscaping — Improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Light blue siding shows some discoloration	Minor	$500–3,000
Landscaping · Some overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and property value ↑

ⓘ 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: Shenandoah County Public School District
• NCES district ID: 5103510
• Math proficiency: 46% ▼ -30.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $50,207
• Composite: 44.42/100
• National rank: #2811
• State rank: #91 of 131 in VA

Livability — Edinburg

• Score: 67/100
• State rank: #294
• US rank: #10446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edinburg, VA
• Population (ZIP): 6,061

Population outlook (Shenandoah County) Hauer SSP2

• Today (2025): 44,891 people
• By 2030: 45,630 · +1.6%
• By 2040: 46,708 · +4.0%
• By 2050: 47,072 · +4.9%
• By 2075: 47,418 · +5.6%
• By 2100: 43,707 · -2.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 9% Slovak 4% Iranian 2%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 8% French/Haitian/Cajun 1%

Political lean MEDSL · Shenandoah

• 2024 margin: Solid R (+42.2) · D 28.4% · R 70.6% · Other 1.0%
• 2008→2024 swing: -15.8pp toward R · 2008: -26.5pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+40.6 2016: R+43.3 2012: R+31.4 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.98%
• Current HPI: 342.2967
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-30 Pending — BRIGHT MLS
• 2026-05-01 Listed $325,000 BRIGHT MLS
• 2026-04-24 Coming Soon $325,000 BRIGHT MLS