210 Ford St · Pennington Gap, VA 24277

$79,500

2 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 50 Days on market

Built 1921 9,583 sqft lot $49/sqft · 24% below area Est $105k · 24% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Appreciation +7.8/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is an excellent chance to purchase a home in Pennington Gap. The property is ideally situated near downtown, providing convenient access to public services, exceptional musical performances at the Lee Theatre, and a variety of Southwest Virginia's finest dining options. The attractive pricing makes it a great choice for those seeking a charming residence or a valuable investment property. Contact us to schedule a viewing of this beautiful home.

Key facts

• 9,583 sq ft lot
• Built 1921
• Listed 50 days

Property features AI

Finance

• Other: Lot is sloped; Lot dimensions approximately 48 x 201 x 46 x 200 (0.22 acres); Zoned residential

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer; Electricity connected; Cable available/connected; Phone available; Water connected; Sewer connected
• Home design: Single-family house; One level; Residential property (fixer condition)
• Construction: Vinyl siding; Block foundation; Built with metal roof
• Exterior features: Front porch; Rear porch; Metal roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total rooms: 4
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling; Fireplaces in master bedroom, kitchen, and living room (3 total)
• Interior features: Eat-in kitchen; Entrance foyer; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.

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: Dryden Elementary (math 42% / reading 62%, grade C-, #696 of 1,108 statewide, top 66%, 273 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 $5k of equity ($550 loan paydown + $4k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $80k implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,115 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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: 1.32% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.14%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (median comp): $104,595
• List price: $79,500
• Delta: -23.99%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 Main St	0.36mi	3/1.0 (+1)	1,768 (+8%)	7mo	$90,000	$51	58
108 Burke St	0.20mi	3/1.0 (+1)	1,780 (+9%)	22mo	$35,000	$20	52
198 Church Ave	0.39mi	3/2.0 (+1)	1,540 (-6%)	23mo	$95,000	$62	44

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: 30.6%
• Equity multiple: 2.96×
• Total profit: $43,630
• Equity at exit: $47,944

10-year hold

• IRR: 28.8%
• Equity multiple: 5.99×
• Total profit: $111,117
• Equity at exit: $85,241

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 24277

• Home prices YoY: 3.5%
• Active inventory: 30
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $355

Break-even live

Break-even rent $601

Max offer price $79,500

Occupancy floor 61%

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 17 events

1. 2026-06-18
   days on market $79,500 Active 50 DOM
2. 2026-06-17
   days on market $79,500 Active 49 DOM
3. 2026-06-16
   days on market $79,500 Active 48 DOM
4. 2026-06-15
   days on market $79,500 Active 47 DOM
5. 2026-06-15
   days on market $79,500 Active 46 DOM
6. 2026-06-13
   days on market $79,500 Active 45 DOM
7. 2026-06-12
   days on market $79,500 Active 44 DOM
8. 2026-06-09
   days on market $79,500 Active 41 DOM
9. 2026-06-08
   days on market $79,500 Active 40 DOM
10. 2026-06-08
    days on market $79,500 Active 39 DOM
11. 2026-06-07
    days on market $79,500 Active 38 DOM
12. 2026-06-03
    days on market $79,500 Active 35 DOM
13. 2026-06-02
    days on market $79,500 Active 34 DOM
14. 2026-06-01
    days on market $79,500 Active 33 DOM
15. 2026-05-31
    days on market $79,500 Active 32 DOM
16. 2026-04-29
    listed $79,500 Active 453-char remark
17. 1994-07-05
    soldstatus $18,000

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $652 · $54/mo
• Expected delta: +$357/yr (+$30/mo · 121.3%)

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

Taxation est. · year 1

• Rental income: $12,603
• − Mortgage interest: −$4,453
• − Property taxes: −$295
• − Insurance: −$398
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,313
• Taxable income: $3,128
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $3,511/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

+341.7% since first listed

2 events — show timeline

• 2026-04-29 Listed $79,500 TVRMLS
• 1994-07-05 Sold (Public Records) $18,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $295 · +68.7% YoY. Source: county tax records.