327 Johnson Dr · Pennington Gap, VA 24277

$130,900

3 bd · 2.0 ba · 1,890 sqft · SingleFamily public records · 41 Days on market

Built 1920 $69/sqft · 6% above area Est $123k · 6% over ↓ 9% since listing

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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 +20.1/30.0
• Appreciation +7.8/10.0
• DSCR +6.4/10.0
• Schools +5.0/10.0
• ARV discount +4.8/15.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very well maintained 2 story Brick with three or four bedrooms and two full bath. Original hardwood floors, original staircase and handrails. Large spacious rooms, dining room and living room have tray ceilings. Lots of cabinets in this very spacious kitchen including Maytag appliances. Large yard with plenty of room for kids or pets. Concrete driveway with detached two vehicle carport and outbuilding.

Key facts

• Outbuilding
• Detached carport
• Oversized lot

Tags

• ALL BRICK HOUSE
• ORIGINAL HARDWOOD FLOORS
• ORIGINAL STAIRCASE
• OVERSIZED LOT
• DETACHED CARPORT
• OUTBUILDING

Property features AI

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family house; Two stories; Residential property
• Construction: Brick construction
• Exterior features: Metal roof; Level to sloped terrain

Interior

• Kitchen: Range
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Range (cooking appliance); Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $131k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/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 $121k (7.5% below list).
• Recommended offer: $121k (7.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#410 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Lee County Public School District (rural): math 53% / reading 69% proficiency, ranked #62 of 131 in VA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elk Knob Elementary (math 47% / reading 52%, grade D, #742 of 1,108 statewide, top 70%, 283 students, 87% FRL); Pennington Middle (math 51% / reading 67%, grade B, #166 of 342 statewide, top 50%, 274 students, 100% FRL) — zoned schools average 93% FRL vs 58% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($905 loan paydown + $7k appreciation (5.6% local appreciation)).
• Lee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $14k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,086 (7.5% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.93% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (median comp): $123,406
• List price: $130,900
• Delta: 6.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Doris Ave	0.06mi	4/3.0 (+1)	1,872 (-1%)	23mo	$180,000	$96	67
348 Cemetery Rd	0.51mi	4/2.0 (+1)	1,858 (-2%)	8mo	$230,000	$124	62
319 Main St	0.43mi	3/1.0	1,768 (-6%)	7mo	$90,000	$51	59
327 Forest Ave	0.24mi	4/3.0 (+1)	1,790 (-5%)	21mo	$177,000	$99	54
108 Burke St	0.65mi	3/1.0	1,780 (-6%)	22mo	$35,000	$20	38

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

Projected returns pro-forma

5.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.23×
• Total profit: $44,938
• Equity at exit: $78,942

10-year hold

• IRR: 18.4%
• Equity multiple: 4.41×
• Total profit: $124,897
• Equity at exit: $140,353

Cash invested: $36,652 (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 24277

• Home prices YoY: 3.5%
• Active inventory: 30
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$686
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $162

Break-even live

Break-even rent $1,005

Max offer price $130,900

Occupancy floor 82%

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: $32,725
• Closing costs: $3,927
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $130,900 Active 41 DOM
2. 2026-06-17
   days on market $130,900 Active 40 DOM
3. 2026-06-16
   days on market $130,900 Active 39 DOM
4. 2026-06-15
   days on market $130,900 Active 38 DOM
5. 2026-06-15
   pricedays on market $130,900 Active 37 DOM
6. 2026-06-13
   days on market $144,900 Active 36 DOM
7. 2026-06-12
   days on market $144,900 Active 35 DOM
8. 2026-06-09
   days on market $144,900 Active 32 DOM
9. 2026-06-08
   days on market $144,900 Active 31 DOM
10. 2026-06-08
    days on market $144,900 Active 30 DOM
11. 2026-06-07
    days on market $144,900 Active 29 DOM
12. 2026-06-03
    days on market $144,900 Active 26 DOM
13. 2026-06-02
    days on market $144,900 Active 25 DOM
14. 2026-06-01
    days on market $144,900 Active 24 DOM
15. 2026-05-31
    days on market $144,900 Active 23 DOM
16. 2026-05-08
    listed $144,900 Active 512-char remark
17. 2021-07-19
    soldstatus $142,000 405-char remark

    Show marketing remark (405 chars)

    Very well maintained 2 story Brick with three or four bedrooms and two full bath. Original hardwood floors, original staircase and handrails. Large spacious rooms, dining room and living room have tray ceilings. Lots of cabinets in this very spacious kitchen including Maytag appliances. Large yard with plenty of room for kids or pets. Concrete driveway with detached two vehicle carport and outbuilding.

18. 2021-07-19
    soldstatus $142,000

    Show marketing remark (405 chars)

    Very well maintained 2 story Brick with three or four bedrooms and two full bath. Original hardwood floors, original staircase and handrails. Large spacious rooms, dining room and living room have tray ceilings. Lots of cabinets in this very spacious kitchen including Maytag appliances. Large yard with plenty of room for kids or pets. Concrete driveway with detached two vehicle carport and outbuilding.

19. 2020-10-26
    listed $144,000 405-char remark

    Show marketing remark (405 chars)

    Very well maintained 2 story Brick with three or four bedrooms and two full bath. Original hardwood floors, original staircase and handrails. Large spacious rooms, dining room and living room have tray ceilings. Lots of cabinets in this very spacious kitchen including Maytag appliances. Large yard with plenty of room for kids or pets. Concrete driveway with detached two vehicle carport and outbuilding.

ⓘ 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: $639 · $53/mo
• Projected year-2 tax: $1,073 · $89/mo
• Expected delta: +$434/yr (+$36/mo · 68.0%)

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

Taxation est. · year 1

• Rental income: $14,530
• − Mortgage interest: −$7,332
• − Property taxes: −$639
• − Insurance: −$654
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,808
• Taxable loss: −$228
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $2,003/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: Lee County Public School District
• NCES district ID: 5102190
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -9.00%
• Median HH income: $31,356
• Composite: 50.06/100
• National rank: #1913
• State rank: #62 of 131 in VA

Livability — Pennington Gap

• Score: 62/100
• State rank: #410
• US rank: #17149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pennington Gap, VA
• Population (ZIP): 6,379

Population outlook (Lee County) Hauer SSP2

• Today (2025): 22,861 people
• By 2030: 21,701 · -5.1%
• By 2040: 19,188 · -16.1%
• By 2050: 16,619 · -27.3%
• By 2075: 11,795 · -48.4%
• By 2100: 8,290 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 14% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 1% Slovak 1% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+72.0) · D 13.8% · R 85.8%
• 2008→2024 swing: -43.8pp toward R · 2008: -28.2pp · 2024: -72.0pp
• All cycles: 2024: R+72.0 2020: R+69.1 2016: R+63.2 2012: R+44.4 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.59%
• Current HPI: 165.997
• 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

-9.1% since first listed

5 events — show timeline

• 2026-06-14 Price Changed $130,900 TVRMLS
• 2026-05-08 Listed $144,900 TVRMLS
• 2021-07-19 Sold (Public Records) $142,000 Public Records
• 2021-07-19 Sold (MLS) $142,000 TVRMLS
• 2020-10-26 Listed $144,000 TVRMLS

Property tax history

+3.4%/yr

Latest (2025): $639 · +17.8% YoY. Source: county tax records.