937 W Lee Hwy · Chilhowie, VA 24319

$325,000

5 bd · 3.0 ba · 3,934 sqft · SingleFamily public records · 56 Days on market

Built 1910 1.00 ac lot $83/sqft · 30% below area Est $461k · 30% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.8/30.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Step into timeless elegance with this stunning Tudor-style home, originally built in 1910. Rich in character and historic charm, this residence showcases classic architectural details and a warm, inviting atmosphere throughout. From its distinctive design to its enduring quality, this home offers a rare opportunity to own a piece of history while enjoying the comfort of a truly special property. Come in and a some of your touch to make it your home.

Key facts

• 1 acre lot
• 2 garage spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-795 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (43.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (53.7% below list).
• Recommended offer: $151k (53.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#208 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment C-, health & safety C-, amenities 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: 75 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 $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $185k; list at $325k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,580 (53.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.46% ✗
• Cap rate: 3.36%
• Cash-on-cash: -10.48%
• DSCR: 0.53
• GRM: 18.0

CMA / ARV

• ARV (median comp): $461,145
• List price: $325,000
• Delta: -29.52%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $126,259
• Equity at exit: $292,786

10-year hold

• IRR: 16.1%
• Equity multiple: 5.52×
• Total profit: $411,333
• Equity at exit: $631,404

Cash invested: $91,000 (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 24319

• Home prices YoY: 6.6%
• Active inventory: 75
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $1,506 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$144 /mo · $1,733/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-795

Break-even live

Break-even rent $2,512

Max offer price $184,635

Occupancy floor —

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-15
   days on market $325,000 Active 56 DOM
2. 2026-06-15
   remarks 530-char remark
3. 2026-06-15
   statusdays on market $325,000 Active 55 DOM
4. 2026-06-13
   days on market $325,000 Active Under Contract 54 DOM
5. 2026-06-12
   days on market $325,000 Active Under Contract 53 DOM
6. 2026-06-09
   days on market $325,000 Active Under Contract 50 DOM
7. 2026-06-08
   days on market $325,000 Active Under Contract 49 DOM
8. 2026-06-08
   days on market $325,000 Active Under Contract 48 DOM
9. 2026-06-07
   days on market $325,000 Active Under Contract 47 DOM
10. 2026-06-03
    days on market $325,000 Active Under Contract 44 DOM
11. 2026-06-02
    days on market $325,000 Active Under Contract 43 DOM
12. 2026-06-01
    days on market $325,000 Active Under Contract 42 DOM
13. 2026-05-31
    days on market $325,000 Active Under Contract 41 DOM
14. 2026-05-08
    historical Active Under Contract 453-char remark

    Show marketing remark (453 chars)

    Step into timeless elegance with this stunning Tudor-style home, originally built in 1910. Rich in character and historic charm, this residence showcases classic architectural details and a warm, inviting atmosphere throughout. From its distinctive design to its enduring quality, this home offers a rare opportunity to own a piece of history while enjoying the comfort of a truly special property. Come in and a some of your touch to make it your home.

15. 2026-05-03
    status Active 453-char remark

    Show marketing remark (453 chars)

    Step into timeless elegance with this stunning Tudor-style home, originally built in 1910. Rich in character and historic charm, this residence showcases classic architectural details and a warm, inviting atmosphere throughout. From its distinctive design to its enduring quality, this home offers a rare opportunity to own a piece of history while enjoying the comfort of a truly special property. Come in and a some of your touch to make it your home.

16. 2026-04-28
    historical Active Under Contract 453-char remark

    Show marketing remark (453 chars)

    Step into timeless elegance with this stunning Tudor-style home, originally built in 1910. Rich in character and historic charm, this residence showcases classic architectural details and a warm, inviting atmosphere throughout. From its distinctive design to its enduring quality, this home offers a rare opportunity to own a piece of history while enjoying the comfort of a truly special property. Come in and a some of your touch to make it your home.

17. 2026-04-20
    listed $325,000 Active 453-char remark

    Show marketing remark (453 chars)

    Step into timeless elegance with this stunning Tudor-style home, originally built in 1910. Rich in character and historic charm, this residence showcases classic architectural details and a warm, inviting atmosphere throughout. From its distinctive design to its enduring quality, this home offers a rare opportunity to own a piece of history while enjoying the comfort of a truly special property. Come in and a some of your touch to make it your home.

18. 2021-07-16
    soldstatus $185,000
19. 2021-01-29
    listed $193,900
20. 2020-06-09
    listed $204,900
21. 2017-11-21
    soldstatus $206,900
22. 2017-11-20
    soldstatus $206,900
23. 2017-09-26
    listed $209,900
24. 2017-03-13
    listed $211,500
25. 2011-03-31
    soldstatus $189,900
26. 2008-08-19
    listed $239,900

ⓘ 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: $1,733 · $144/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$932/yr (+$78/mo · 53.8%)

ⓘ 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 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $18,070
• − Mortgage interest: −$18,205
• − Property taxes: −$1,733
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$9,455
• Taxable loss: −$15,839
• Est. tax savings @ 24.0%: +$3,801
• After-tax cash flow: $-5,734/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 — Chilhowie

• Score: 71/100
• State rank: #208
• US rank: #6576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chilhowie, VA
• Population (ZIP): 6,963

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2% Other Indo-European 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: ▲ 16.03%
• Current HPI: 257.8732
• 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

+35.5% since first listed

13 events — show timeline

• 2026-05-08 Contingent — SWVAR
• 2026-05-03 Relisted — SWVAR
• 2026-04-28 Contingent — SWVAR
• 2026-04-20 Listed $325,000 SWVAR
• 2021-07-16 Sold (MLS) $185,000 SWVAR
• 2021-01-29 Listed $193,900 SWVAR
• 2020-06-09 Listed $204,900 SWVAR
• 2017-11-21 Sold (Public Records) $206,900 Public Records
• 2017-11-20 Sold (MLS) $206,900 SWVAR
• 2017-09-26 Listed $209,900 SWVAR
• 2017-03-13 Listed $211,500 SWVAR
• 2011-03-31 Sold (Public Records) $189,900 Public Records
• 2008-08-19 Listed $239,900 SWVAR

Property tax history

+2.4%/yr

Latest (2025): $1,733 · +0.0% YoY. Source: county tax records.