251 Piney Mountain Rd · Ivanhoe, VA 24382

$185,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 182 Days on market

Built 2000 0.57 ac lot Est $332k · 44% 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 +15.4/30.0
• ARV discount +15.0/15.0
• Schools +6.0/10.0
• DSCR +4.7/10.0
• 1% rule +3.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2000 manufactured home located in Wythe County at 251 Piney Mountain Road, Wytheville, VA, offers peaceful country living with beautiful mountain views. The 1,344 square foot home features three bedrooms, two baths, a comfortable living room with gas logs for cozy evenings, and a functional kitchen. Enjoy the scenic surroundings from the covered front porch, open side deck, or back deck, all perfectly positioned to take in the views from the nicely situated 0.57-acre lot. Recent updates include a new roof completed in May 2025 with new plywood and 30 year shingles, along with a gas stove, refrigerator, and dishwasher that are all just one year old. The home offers a mix of laminate, vinyl, and carpet flooring and will have a few additional remodeling projects. The master bathroom is coming along smoothly with a very unique shower/tub combination with lighting and jets for a nice relaxing bath. The home still has a few more projects to be completed prior to closing. Also on the property is a shop/shed building with potential to be finished into additional living space and be completed by the new owner to suit their needs. This could potentially be a nice little rental unit if you so desire, lots of options for this nicely designed additional structure. The home is conveniently located within approximately 20 minutes of the Town of Wytheville and just minutes from interstate access. Several additional storage buildings are currently on the property and will be removed prior to closing; however, some or all of the personal property contained within them may be negotiable outside of the purchase contract. This property offers a great opportunity for those seeking space, views, and flexibility in a quiet county setting.

Key facts

• Covered front porch
• Gas stove
• Back deck

Tags

• MOUNTAIN VIEWS
• COVERED FRONT PORCH
• OPEN SIDE DECK
• BACK DECK
• NEW ROOF
• GAS STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $69 ($834/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 $148k (20.1% below list).
• Recommended offer: $148k (20.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#509 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D+, schools F, amenities F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 155 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $185k implies a 172% gain — meaningful room to come down on a strong offer.

Recommended offer $147,752 (20.1% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.80% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $331,968
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
194 Timberland Dr	0.65mi	3/2.0	1,540 (+15%)	23mo	$380,000	$247	26

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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-25,642
• Equity at exit: $27,584

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-16,993
• Equity at exit: $15,995

Cash invested: $51,800 (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 24382

• Home prices YoY: -25.7%
• Active inventory: 155
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$51 /mo · $606/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $69

Break-even live

Break-even rent $1,390

Max offer price $185,000

Occupancy floor 90%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $185,000 Active 182 DOM
2. 2026-06-17
   days on market $185,000 Active 181 DOM
3. 2026-06-16
   days on market $185,000 Active 180 DOM
4. 2026-06-15
   days on market $185,000 Active 179 DOM
5. 2026-06-15
   days on market $185,000 Active 178 DOM
6. 2026-06-13
   days on market $185,000 Active 177 DOM
7. 2026-06-12
   days on market $185,000 Active 176 DOM
8. 2026-06-09
   days on market $185,000 Active 173 DOM
9. 2026-06-08
   days on market $185,000 Active 172 DOM
10. 2026-06-08
    days on market $185,000 Active 171 DOM
11. 2026-06-07
    days on market $185,000 Active 170 DOM
12. 2026-06-03
    days on market $185,000 Active 167 DOM
13. 2026-06-02
    days on market $185,000 Active 166 DOM
14. 2026-06-01
    days on market $185,000 Active 165 DOM
15. 2026-05-31
    days on market $185,000 Active 164 DOM
16. 2025-12-18
    listed $185,000 Active 1750-char remark

    Show marketing remark (1750 chars)

    This 2000 manufactured home located in Wythe County at 251 Piney Mountain Road, Wytheville, VA, offers peaceful country living with beautiful mountain views. The 1,344 square foot home features three bedrooms, two baths, a comfortable living room with gas logs for cozy evenings, and a functional kitchen. Enjoy the scenic surroundings from the covered front porch, open side deck, or back deck, all perfectly positioned to take in the views from the nicely situated 0.57-acre lot. Recent updates include a new roof completed in May 2025 with new plywood and 30 year shingles, along with a gas stove, refrigerator, and dishwasher that are all just one year old. The home offers a mix of laminate, vinyl, and carpet flooring and will have a few additional remodeling projects. The master bathroom is coming along smoothly with a very unique shower/tub combination with lighting and jets for a nice relaxing bath. The home still has a few more projects to be completed prior to closing. Also on the property is a shop/shed building with potential to be finished into additional living space and be completed by the new owner to suit their needs. This could potentially be a nice little rental unit if you so desire, lots of options for this nicely designed additional structure. The home is conveniently located within approximately 20 minutes of the Town of Wytheville and just minutes from interstate access. Several additional storage buildings are currently on the property and will be removed prior to closing; however, some or all of the personal property contained within them may be negotiable outside of the purchase contract. This property offers a great opportunity for those seeking space, views, and flexibility in a quiet county setting.

17. 2023-11-06
    soldstatus $68,000

ⓘ 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: $606 · $51/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$911/yr (+$76/mo · 150.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 22 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: $17,730
• − Mortgage interest: −$10,363
• − Property taxes: −$606
• − Insurance: −$925
• − Repairs & maintenance: −$1,418
• − Management: −$1,418
• − Depreciation: −$5,382
• Taxable loss: −$2,383
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $1,405/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.

Schools (NCES district)

• District: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Ivanhoe

• Score: 56/100
• State rank: #509
• US rank: #22729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,751

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 191.6387
• 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

+172.1% since first listed

2 events — show timeline

• 2025-12-18 Listed $185,000 SWVAR
• 2023-11-06 Sold (Public Records) $68,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $606 · +0.0% YoY. Source: county tax records.