276 Main St · Stanardsville, VA 22973

$267,000

3 bd · 1.0 ba · 1,608 sqft · SingleFamily public records · 181 Days on market

Built 1900 0.94 ac lot $166/sqft · 10% below area Est $355k · 25% under

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Why this score? — see what drove the C+ 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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic Main Street Opportunity in Stanardsville! This iconic Main Street property is a true piece of Stanardsville history, nestled at the heart of Town Hill. Zoned Residential/Commercial, it offers limitless potential—whether you envision a home, a business, a restaurant, a tap house, or a brewery, the possibilities are endless. The structure boasts solid bones and some mechanical upgrades, ready for your vision to bring it into the next chapter of Stanardsville’s story.

Key facts

• Mechanical upgrades
• 0.94 acre lot
• Built 1900

Tags

• ZONED RESIDENTIAL COMMERCIAL
• MECHANICAL UPGRADES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $267k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $267k).
• Recommended offer: $235k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.8% in Stanardsville — 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 (#243 in VA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, schools A-, cost of living A-; Watch: employment D+, amenities F, commute F.
• Greene County Public School District (town): math 40% / reading 64% proficiency, ranked #88 of 131 in VA (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 204 units permitted in Greene County in 2024 (34 in 5+ unit buildings).

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.
• Greene County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.01% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (median comp): $355,285
• List price: $267,000
• Delta: -24.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-15,434
• Equity at exit: $39,811

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $22,249
• Equity at exit: $23,085

Cash invested: $74,760 (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 22973

• Home prices YoY: -25.3%
• Active inventory: 83
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,695 medium
• Mortgage (P&I): −$1,400
• Tax from tax record: −$113 /mo · $1,360/yr
• Insurance: −$111
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $438

Break-even live

Break-even rent $2,141

Max offer price $267,000

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: $66,750
• Closing costs: $8,010
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
477 Westwood Rd Stanardsville, VA	2.0	2.0	1450	$2,695	$1.86	5d	1	1.47mi

Listing history 1 events

1. 2025-11-24
   listed $267,000 Active 490-char remark

   Show marketing remark (490 chars)

   Historic Main Street Opportunity in Stanardsville! This iconic Main Street property is a true piece of Stanardsville history, nestled at the heart of Town Hill. Zoned Residential/Commercial, it offers limitless potential—whether you envision a home, a business, a restaurant, a tap house, or a brewery, the possibilities are endless. The structure boasts solid bones and some mechanical upgrades, ready for your vision to bring it into the next chapter of Stanardsville’s story.

ⓘ 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: $1,360 · $113/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: +$829/yr (+$69/mo · 61.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $32,340
• − Mortgage interest: −$14,956
• − Property taxes: −$1,360
• − Insurance: −$2,132
• − Repairs & maintenance: −$2,587
• − Management: −$2,587
• − Depreciation: −$7,767
• Taxable income: $950
• Est. tax owed @ 24.0%: −$228
• After-tax cash flow: $5,026/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: Greene County Public School District
• NCES district ID: 5101710
• Math proficiency: 40% ▼ -37.00%
• Reading proficiency: 64% ▼ -7.00%
• Median HH income: $59,129
• Composite: 45.22/100
• National rank: #2668
• State rank: #88 of 131 in VA

Livability — Stanardsville

• Score: 69/100
• State rank: #243
• US rank: #8223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stanardsville, VA
• Population (ZIP): 5,980

Population outlook (Greene County) Hauer SSP2

• Today (2025): 20,465 people
• By 2030: 20,958 · +2.4%
• By 2040: 21,619 · +5.6%
• By 2050: 21,699 · +6.0%
• By 2075: 21,656 · +5.8%
• By 2100: 20,156 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 9% Black 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 3% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Greene

• 2024 margin: Strong R (+24.7) · D 37.0% · R 61.7% · Other 1.2%
• 2008→2024 swing: -2.9pp toward R · 2008: -21.9pp · 2024: -24.7pp
• All cycles: 2024: R+24.7 2020: R+23.9 2016: R+31.8 2012: R+25.3 2008: R+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.51%
• Current HPI: 181.8265
• 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

1 event — show timeline

• 2025-11-24 Listed $267,000 CAAR

Property tax history

+2.7%/yr

Latest (2025): $1,360 · -7.7% YoY. Source: county tax records.