305 Prospect · Front Royal, VA 22630

$200,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 97 Days on market

Built 1930 3,289 sqft lot $149/sqft · 28% below area Est $277k · 28% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• Schools +4.9/10.0
• Rent growth +4.6/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in the Historic District! 305 Prospect Street offers a rare opportunity to own a property in the heart of Front Royal’s charming historic district. This home is in need of major rehabilitation, making it ideal for investors, contractors, or buyers looking to restore a classic property to its full potential. With timeless character and historic appeal, this property is brimming with possibilities. Whether you're looking to renovate and resell, rent, or create your dream home, the location and structure provide a strong foundation for success. Please Note: Property is tenant-occupied – Do Not Disturb Tenant Sold As-Is – Seller will make no repairs Owner has never occupied the property Unlock the potential of this diamond in the rough – schedule your viewing today (appointment required).

Key facts

• Strong foundation
• Major rehabilitation
• Historic district

Tags

• HISTORIC DISTRICT
• MAJOR REHABILITATION
• STRONG FOUNDATION

🏷️ Possibly a rental listed for sale. The $200,000 price doesn't fit this home's estimated sale value (~$276,910) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.6% in Front Royal — 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 73/100 on livability (#162 in VA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, cost of living B+; Watch: commute F, employment D-.
• Warren County Public School District (town): math 49% / reading 64% proficiency, ranked #70 of 131 in VA (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.3%/yr); 280 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 170 units permitted in Warren County in 2024 (0 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.
• Warren County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $48k; list at $200k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.01% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (median comp): $276,910
• List price: $200,000
• Delta: -27.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 Ritenour St	0.17mi	3/1.0	1,286 (-4%)	1mo	$299,900	$233	84
308 W Main St	0.56mi	3/1.5	1,344 (0%)	4mo	$315,000	$234	68
107 Scott St	0.39mi	3/2.5	1,400 (+4%)	9mo	$389,900	$279	61
314 Cable Pl	0.13mi	2/2.5 (-1)	1,164 (-13%)	9mo	$275,000	$236	53
822 William St	0.65mi	3/2.0	1,245 (-7%)	2mo	$315,000	$253	51
319 Front St	0.27mi	4/1.0 (+1)	1,528 (+14%)	12mo	$320,000	$209	50
334 Brown Ave	0.69mi	3/2.0	1,428 (+6%)	9mo	$370,000	$259	46
715 Ross Ave	0.67mi	3/1.0	1,180 (-12%)	10mo	$267,500	$227	40
214 Washington Ave	0.57mi	3/2.0	1,530 (+14%)	10mo	$311,000	$203	38
5 S Charles St	0.68mi	3/2.0	1,500 (+12%)	10mo	$335,000	$223	37
210 W 1st St	0.60mi	4/1.5 (+1)	1,536 (+14%)	10mo	$425,000	$277	33
702 Braxton Rd	0.69mi	4/1.0 (+1)	1,152 (-14%)	9mo	$299,900	$260	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,636
• Equity at exit: $29,821

10-year hold

• IRR: 14.6%
• Equity multiple: 2.43×
• Total profit: $79,931
• Equity at exit: $17,292

Cash invested: $56,000 (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 22630

• Home prices YoY: -27.1%
• Rents YoY: 8.3%
• Active inventory: 280
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $368

Break-even live

Break-even rent $1,555

Max offer price $200,000

Occupancy floor 77%

Sensitivity live

Price	-10% $481	-5% $425	+0% $368	+5% $311	+10% $255
Rent	-10% $208	-5% $288	+0% $368	+5% $448	+10% $528
Rate	-1.0pp $469	-0.5pp $419	base $368	+0.5pp $316	+1.0pp $263

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Cloud St Unit UPPER Front Royal, VA	2.0	1.0	884	$1,200	$1.36	21d	1	0.08mi
310 Frazer Pl Front Royal, VA	2.0	2.0	1104	$2,000	$1.81	44d	1	0.11mi
221 Fletcher St #2 Front Royal, VA	3.0	1.0	980	$1,440	$1.47	6d	1	0.14mi
436 Acton St Front Royal, VA	3.0	1.0	1198	$1,850	$1.54	17d	1	0.25mi
291 Acton St Front Royal, VA	3.0	2.5	1560	$2,500	$1.60	2d	1	0.26mi
1127 N Royal Ave Unit B Front Royal, VA	2.0	2.0	900	$1,500	$1.67	25d	1	1.33mi
1127 N Royal Ave Unit B Front Royal, VA	2.0	2.0	900	$1,500	$1.67	12d	1	1.33mi
350 W 11th St Front Royal, VA	3.0	2.5	1560	$2,600	$1.67	44d	1	1.37mi
352 W 11th St Front Royal, VA	2.0	2.5	1560	$2,600	$1.67	44d	1	1.37mi

Listing history 27 events

1. 2026-06-18
   days on market $200,000 Active 97 DOM
2. 2026-06-17
   days on market $200,000 Active 96 DOM
3. 2026-06-16
   days on market $200,000 Active 95 DOM
4. 2026-06-15
   days on market $200,000 Active 94 DOM
5. 2026-06-13
   days on market $200,000 Active 92 DOM
6. 2026-06-09
   days on market $200,000 Active 88 DOM
7. 2026-06-08
   days on market $200,000 Active 87 DOM
8. 2026-06-07
   days on market $200,000 Active 86 DOM
9. 2026-06-04
   days on market $200,000 Active 83 DOM
10. 2026-06-03
    days on market $200,000 Active 82 DOM
11. 2026-06-02
    days on market $200,000 Active 81 DOM
12. 2026-06-01
    days on market $200,000 Active 80 DOM
13. 2026-05-31
    days on market $200,000 Active 79 DOM
14. 2026-03-13
    listed $200,000 Active 836-char remark

    Show marketing remark (836 chars)

    Investor Special in the Historic District! 305 Prospect Street offers a rare opportunity to own a property in the heart of Front Royal’s charming historic district. This home is in need of major rehabilitation, making it ideal for investors, contractors, or buyers looking to restore a classic property to its full potential. With timeless character and historic appeal, this property is brimming with possibilities. Whether you're looking to renovate and resell, rent, or create your dream home, the location and structure provide a strong foundation for success. Please Note: Property is tenant-occupied – Do Not Disturb Tenant Sold As-Is – Seller will make no repairs Owner has never occupied the property Unlock the potential of this diamond in the rough – schedule your viewing today (appointment required).

15. 2026-03-13
    historical

    Show marketing remark (836 chars)

    Investor Special in the Historic District! 305 Prospect Street offers a rare opportunity to own a property in the heart of Front Royal’s charming historic district. This home is in need of major rehabilitation, making it ideal for investors, contractors, or buyers looking to restore a classic property to its full potential. With timeless character and historic appeal, this property is brimming with possibilities. Whether you're looking to renovate and resell, rent, or create your dream home, the location and structure provide a strong foundation for success. Please Note: Property is tenant-occupied – Do Not Disturb Tenant Sold As-Is – Seller will make no repairs Owner has never occupied the property Unlock the potential of this diamond in the rough – schedule your viewing today (appointment required).

16. 2025-09-30
    listed $200,000 Active
17. 2025-05-27
    historical
18. 2013-10-28
    historical
19. 2013-10-28
    soldstatus $47,500 Sold
20. 2013-10-28
    soldstatus $47,500
21. 2013-10-07
    status Contract
22. 2013-09-30
    historical
23. 2013-09-27
    listed $39,900 Active
24. 2013-09-27
    listed $39,900
25. 2005-03-31
    soldstatus $130,000
26. 2005-02-21
    historical
27. 2004-09-01
    listed $130,000

ⓘ 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: $1,151 · $96/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$489/yr (+$41/mo · 42.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,243
• − Mortgage interest: −$11,203
• − Property taxes: −$1,151
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$5,818
• Taxable income: $1,192
• Est. tax owed @ 24.0%: −$286
• After-tax cash flow: $4,129/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: Warren County Public School District
• NCES district ID: 5103870
• Math proficiency: 49% ▼ -29.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $61,504
• Composite: 49.22/100
• National rank: #2039
• State rank: #70 of 131 in VA

Livability — Front Royal

• Score: 73/100
• State rank: #162
• US rank: #5050

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Front Royal, VA
• County: Warren County · 35,615 people
• City population: 35,615
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 35,615
• Household income: $84,631
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 460.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 42,045 people
• By 2030: 43,257 · +2.9%
• By 2040: 45,088 · +7.2%
• By 2050: 45,567 · +8.4%
• By 2075: 46,081 · +9.6%
• By 2100: 42,093 · +0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Solid R (+37.6) · D 30.6% · R 68.3% · Other 1.1%
• 2008→2024 swing: -26.0pp toward R · 2008: -11.7pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+35.3 2016: R+37.1 2012: R+20.5 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.82%
• Current HPI: 319.8136
• Rent YoY: ▲ 8.30%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

+53.8% since first listed

14 events — show timeline

• 2026-03-13 Listing Removed — BRIGHT MLS
• 2026-03-13 Listed $200,000 BRIGHT MLS
• 2025-09-30 Listed $200,000 BRIGHT MLS
• 2025-05-27 Coming Soon — BRIGHT MLS
• 2013-10-28 Delisted — MRIS
• 2013-10-28 Sold (MLS) $47,500 BRIGHT MLS
• 2013-10-28 Sold (MLS) $47,500 MRIS
• 2013-10-07 Pending — MRIS
• 2013-09-30 Listing Removed — BRIGHT MLS
• 2013-09-27 Listed $39,900 MRIS
• 2013-09-27 Listed $39,900 BRIGHT MLS
• 2005-03-31 Sold (MLS) $130,000 MRIS
• 2005-02-21 Delisted — MRIS
• 2004-09-01 Listed $130,000 MRIS

Property tax history

+7.8%/yr

Latest (2025): $1,151 · +25.1% YoY. Source: county tax records.