2517 Cedar Springs Rd · Sugar Grove, VA 24375

$79,500

3 bd · 1.0 ba · 748 sqft · Other public records · 245 Days on market

Built 1920 3.83 ac lot ↓ 33% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +5.9/10.0
• Schools +4.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

Key facts

• New metal roof
• Building site
• 3.83 acre tract

Tags

• 3.83 ACRE TRACT
• NEW METAL ROOF
• GUTTED INTERIOR
• BUILDING SITE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($973 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#504 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, schools B; Watch: health & safety C-, amenities F, commute F.
• Smyth County Public School District (rural): math 46% / reading 63% proficiency, ranked #89 of 131 in VA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 10 active listings in the ZIP; 38 units permitted in Smyth County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($550 loan paydown + $1k appreciation (1.9% local appreciation)).
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (16%) 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 $69,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.22% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.37%
• DSCR: 1.73
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.09×
• Total profit: $24,198
• Equity at exit: $30,761

10-year hold

• IRR: 22.5%
• Equity multiple: 3.92×
• Total profit: $65,104
• Equity at exit: $43,843

Cash invested: $22,260 (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 24375

• Home prices YoY: 1.7%
• Active inventory: 10
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $973 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$15 /mo · $175/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $304

Break-even live

Break-even rent $588

Max offer price $79,500

Occupancy floor 64%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $79,500 Active 245 DOM
2. 2026-06-17
   days on market $79,500 Active 244 DOM
3. 2026-06-16
   days on market $79,500 Active 243 DOM
4. 2026-06-15
   days on market $79,500 Active 242 DOM
5. 2026-06-15
   days on market $79,500 Active 241 DOM
6. 2026-06-13
   days on market $79,500 Active 240 DOM
7. 2026-06-12
   days on market $79,500 Active 239 DOM
8. 2026-06-09
   days on market $79,500 Active 236 DOM
9. 2026-06-08
   days on market $79,500 Active 235 DOM
10. 2026-06-08
    days on market $79,500 Active 234 DOM
11. 2026-06-07
    days on market $79,500 Active 233 DOM
12. 2026-06-03
    days on market $79,500 Active 230 DOM
13. 2026-06-02
    days on market $79,500 Active 229 DOM
14. 2026-06-01
    days on market $79,500 Active 228 DOM
15. 2026-05-31
    days on market $79,500 Active 227 DOM
16. 2026-04-23
    price $79,500 384-char remark

    Show marketing remark (384 chars)

    Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

17. 2026-04-17
    status Active 384-char remark

    Show marketing remark (384 chars)

    Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

18. 2026-04-04
    historical 384-char remark

    Show marketing remark (384 chars)

    Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

19. 2026-02-19
    price $89,900 384-char remark

    Show marketing remark (384 chars)

    Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

20. 2025-10-03
    listed $95,000 Active 384-char remark

    Show marketing remark (384 chars)

    Bring your horses! Perfect spot for a mini-farm. This beautiful 3.83 acre tract has multiple possibilities. The existing 1920's farm house has a new metal roof. The inside has been gutted and is ready for restoration, if that's your desire. If you're looking for a building site, this property has several ideal locations. Come and give this one a look and explore the possibilities.

21. 2025-06-10
    price $95,000
22. 2025-05-21
    price $109,900
23. 2025-04-24
    price $119,000

ⓘ 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: $175 · $15/mo
• Projected year-2 tax: $652 · $54/mo
• Expected delta: +$477/yr (+$40/mo · 273.3%)

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

Taxation est. · year 1

• Rental income: $11,671
• − Mortgage interest: −$4,453
• − Property taxes: −$175
• − Insurance: −$398
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$2,313
• Taxable income: $2,465
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $3,053/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: Smyth County Public School District
• NCES district ID: 5103520
• Math proficiency: 46% ▼ -38.00%
• Reading proficiency: 63% ▼ -14.00%
• Median HH income: $36,901
• Composite: 45.2/100
• National rank: #2672
• State rank: #89 of 131 in VA

Livability — Sugar Grove

• Score: 56/100
• State rank: #504
• US rank: #22381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,648

Population outlook (Smyth County) Hauer SSP2

• Today (2025): 29,740 people
• By 2030: 28,593 · -3.9%
• By 2040: 26,091 · -12.3%
• By 2050: 23,629 · -20.5%
• By 2075: 18,365 · -38.2%
• By 2100: 13,697 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Asian 4% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Slovak 1% Serbian 1% Scotch-Irish 1%

Political lean MEDSL · Smyth

• 2024 margin: Solid R (+60.5) · D 19.4% · R 79.9%
• 2008→2024 swing: -31.4pp toward R · 2008: -29.1pp · 2024: -60.5pp
• All cycles: 2024: R+60.5 2020: R+56.3 2016: R+55.2 2012: R+33.0 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.86%
• Current HPI: 113.7003
• 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

-33.2% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $79,500 SWVAR
• 2026-04-17 Relisted — SWVAR
• 2026-04-04 Delisted — SWVAR
• 2026-02-19 Price Changed $89,900 SWVAR
• 2025-10-03 Listed $95,000 SWVAR
• 2025-06-10 Price Changed $95,000 SWVAR
• 2025-05-21 Price Changed $109,900 SWVAR
• 2025-04-24 Price Changed $119,000 SWVAR

Property tax history

-1.2%/yr

Latest (2025): $175 · +0.0% YoY. Source: county tax records.