11228 Torrie Way Unit G · Bealeton, VA 22712

$235,000

2 bd · 2.0 ba · 936 sqft · Condo public records · 72 Days on market

Built 1989 $251/sqft · 9% above area Est $215k · 9% over $250/mo HOA · 13% of rent

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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).

• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• Schools +5.4/10.0
• ARV discount +3.4/15.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks MLS

Move-in ready and beautifully refreshed, this bright, open-concept condo offers low-maintenance living in a quiet, well-maintained community with a location that makes daily life easy. Recent upgrades include a new HVAC system (Nov 2025), full waterline re-pipe (July 2025), new water heater (Oct 2025), plus fresh interior paint, deep cleaning, and new kitchen & laundry room flooring (Feb 2026) — over $16,000 in improvements already completed for the next owner! And don't miss the all-new dog park being opened in the community on March 21st. This unit features spacious bedrooms with generous closets, reserved parking, and abundant additional parking add comfort and convenience. Ideal for a first-time buyer or savvy investor, this home offers a low condo fee, quick closing option, and strong commuter access near major routes and everyday essentials. Enjoy being just minutes from shopping, dining, schools, and surrounding towns including Warrenton, Midland, Opal, and Remington. A turnkey opportunity in a highly convenient location — don't miss this one!!!

Key facts

• $250 HOA
• Parking
• Built 1989

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (18.8% below list).
• Recommended offer: $191k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.5% in Bealeton — 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 67/100 on livability (#292 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Fauquier County Public School District (rural): math 51% / reading 68% proficiency, ranked #43 of 131 in VA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grace Miller Elementary (math 57% / reading 68%, grade B, #476 of 1,108 statewide, top 43%, 495 students, 49% FRL); Cedar Lee Middle (math 40% / reading 60%, grade C, #231 of 342 statewide, top 69%, 610 students, 51% FRL); Liberty High (math 42% / reading 67%, grade C-, #281 of 319 statewide, top 90%, 1,370 students, 45% FRL) — zoned schools average 48% FRL vs 20% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 286 units permitted in Fauquier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Fauquier County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 20y 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 $188k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,800 (18.8% 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 72 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.74%
• DSCR: 0.83
• GRM: 10.3

CMA / ARV

• ARV (median comp): $215,369
• List price: $235,000
• Delta: 9.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $115,021
• Equity at exit: $211,707

10-year hold

• IRR: 19.5%
• Equity multiple: 6.31×
• Total profit: $349,144
• Equity at exit: $456,553

Cash invested: $65,800 (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 22712

• Home prices YoY: 10.6%
• Active inventory: 63
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,908 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$132 /mo · $1,583/yr
• Insurance: −$98
• HOA: −$250
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-205

Break-even live

Break-even rent $2,167

Max offer price $198,806

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-138	+0% $-205	+5% $-271	+10% $-338
Rent	-10% $-356	-5% $-280	+0% $-205	+5% $-130	+10% $-54
Rate	-1.0pp $-87	-0.5pp $-145	base $-205	+0.5pp $-266	+1.0pp $-328

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11238 Torrie Way Unit E Bealeton, VA	2.0	2.0	936	$1,750	$1.87	46d	1	0.02mi
11256 Torrie Way Unit G Bealeton, VA	2.0	2.0	936	$2,000	$2.14	0d	1	0.04mi
11256 Torrie Way Bealeton, VA	2.0	2.0	936	$1,975	$2.11	0d	2	0.10mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-05-09
   status Pending 1087-char remark

   Show marketing remark (1087 chars)

   Move-in ready and beautifully refreshed, this bright, open-concept condo offers low-maintenance living in a quiet, well-maintained community with a location that makes daily life easy. Recent upgrades include a new HVAC system (Nov 2025), full waterline re-pipe (July 2025), new water heater (Oct 2025), plus fresh interior paint, deep cleaning, and new kitchen & laundry room flooring (Feb 2026) — over $16,000 in improvements already completed for the next owner! And don't miss the all-new dog park being opened in the community on March 21st. This unit features spacious bedrooms with generous closets, reserved parking, and abundant additional parking add comfort and convenience. Ideal for a first-time buyer or savvy investor, this home offers a low condo fee, quick closing option, and strong commuter access near major routes and everyday essentials. Enjoy being just minutes from shopping, dining, schools, and surrounding towns including Warrenton, Midland, Opal, and Remington. A turnkey opportunity in a highly convenient location — don't miss this one!!!

2. 2026-02-26
   status Active 1087-char remark

   Show marketing remark (1087 chars)

   Move-in ready and beautifully refreshed, this bright, open-concept condo offers low-maintenance living in a quiet, well-maintained community with a location that makes daily life easy. Recent upgrades include a new HVAC system (Nov 2025), full waterline re-pipe (July 2025), new water heater (Oct 2025), plus fresh interior paint, deep cleaning, and new kitchen & laundry room flooring (Feb 2026) — over $16,000 in improvements already completed for the next owner! And don't miss the all-new dog park being opened in the community on March 21st. This unit features spacious bedrooms with generous closets, reserved parking, and abundant additional parking add comfort and convenience. Ideal for a first-time buyer or savvy investor, this home offers a low condo fee, quick closing option, and strong commuter access near major routes and everyday essentials. Enjoy being just minutes from shopping, dining, schools, and surrounding towns including Warrenton, Midland, Opal, and Remington. A turnkey opportunity in a highly convenient location — don't miss this one!!!

3. 2026-02-26
   listed $235,000 1087-char remark

   Show marketing remark (1087 chars)

   Move-in ready and beautifully refreshed, this bright, open-concept condo offers low-maintenance living in a quiet, well-maintained community with a location that makes daily life easy. Recent upgrades include a new HVAC system (Nov 2025), full waterline re-pipe (July 2025), new water heater (Oct 2025), plus fresh interior paint, deep cleaning, and new kitchen & laundry room flooring (Feb 2026) — over $16,000 in improvements already completed for the next owner! And don't miss the all-new dog park being opened in the community on March 21st. This unit features spacious bedrooms with generous closets, reserved parking, and abundant additional parking add comfort and convenience. Ideal for a first-time buyer or savvy investor, this home offers a low condo fee, quick closing option, and strong commuter access near major routes and everyday essentials. Enjoy being just minutes from shopping, dining, schools, and surrounding towns including Warrenton, Midland, Opal, and Remington. A turnkey opportunity in a highly convenient location — don't miss this one!!!

4. 2026-02-26
   historical 1087-char remark

   Show marketing remark (1087 chars)

   Move-in ready and beautifully refreshed, this bright, open-concept condo offers low-maintenance living in a quiet, well-maintained community with a location that makes daily life easy. Recent upgrades include a new HVAC system (Nov 2025), full waterline re-pipe (July 2025), new water heater (Oct 2025), plus fresh interior paint, deep cleaning, and new kitchen & laundry room flooring (Feb 2026) — over $16,000 in improvements already completed for the next owner! And don't miss the all-new dog park being opened in the community on March 21st. This unit features spacious bedrooms with generous closets, reserved parking, and abundant additional parking add comfort and convenience. Ideal for a first-time buyer or savvy investor, this home offers a low condo fee, quick closing option, and strong commuter access near major routes and everyday essentials. Enjoy being just minutes from shopping, dining, schools, and surrounding towns including Warrenton, Midland, Opal, and Remington. A turnkey opportunity in a highly convenient location — don't miss this one!!!

5. 2023-03-10
   soldstatus $187,500
6. 2023-02-17
   historical
7. 2023-02-15
   listed $194,000 Active
8. 2021-10-12
   soldstatus $166,000 Closed
9. 2021-10-12
   soldstatus $166,000
10. 2021-09-22
    status Pending
11. 2021-09-05
    listed $169,900 Active
12. 2017-08-19
    historical
13. 2017-08-19
    historical Withdrawn
14. 2017-08-04
    listed Active
15. 2017-08-04
    listed $124,900
16. 2017-06-28
    historical
17. 2017-06-28
    historical Withdrawn
18. 2017-06-22
    status Active
19. 2017-06-08
    status Contingent (No Kick Out)
20. 2017-05-24
    status Active
21. 2017-05-10
    status Contingent (No Kick Out)
22. 2017-04-22
    price
23. 2017-04-06
    status Active
24. 2017-04-05
    status Contingent (No Kick Out)
25. 2017-03-27
    price
26. 2017-03-11
    listed Active
27. 2017-03-11
    listed $124,900
28. 2011-09-23
    soldstatus $66,000 Sold
29. 2011-09-23
    soldstatus $66,000
30. 2011-09-15
    status Contract
31. 2011-09-15
    historical
32. 2011-09-13
    status Active
33. 2011-08-20
    status Contingent (No Kick Out)
34. 2011-08-02
    listed $70,500 Active
35. 2011-08-02
    listed $70,500
36. 2007-05-25
    soldstatus $154,900
37. 2007-03-12
    historical
38. 2006-10-09
    listed $154,900

ⓘ 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: $1,583 · $132/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$344/yr (+$29/mo · 21.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% 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: $22,896
• − Mortgage interest: −$13,164
• − Property taxes: −$1,583
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − HOA: −$3,000
• − Depreciation: −$6,836
• Taxable loss: −$6,525
• Est. tax savings @ 24.0%: +$1,566
• After-tax cash flow: $-893/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: Fauquier County Public School District
• NCES district ID: 5101320
• Math proficiency: 51% ▼ -28.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $88,584
• Composite: 54.28/100
• National rank: #1371
• State rank: #43 of 131 in VA

Livability — Bealeton

• Score: 67/100
• State rank: #292
• US rank: #10408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bealeton, VA
• Population (ZIP): 9,745

Population outlook (Fauquier County) Hauer SSP2

• Today (2025): 75,321 people
• By 2030: 78,231 · +3.9%
• By 2040: 82,994 · +10.2%
• By 2050: 85,798 · +13.9%
• By 2075: 93,457 · +24.1%
• By 2100: 91,991 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 19% Two or more races 8% Black 8% Asian 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 13% · Canada, Jamaica, South Korea
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Fauquier

• 2024 margin: Strong R (+21.7) · D 38.6% · R 60.2% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -13.5pp · 2024: -21.7pp
• All cycles: 2024: R+21.7 2020: R+17.3 2016: R+24.6 2012: R+20.0 2008: R+13.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 35.63%
• Current HPI: 371.7347
• 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

+51.7% since first listed

38 events — show timeline

• 2026-05-09 Pending — BRIGHT MLS
• 2026-02-26 Relisted — BRIGHT MLS
• 2026-02-26 Listing Removed — BRIGHT MLS
• 2026-02-26 Listed $235,000 BRIGHT MLS
• 2023-03-10 Sold (Public Records) $187,500 Public Records
• 2023-02-17 Listing Removed — BRIGHT MLS
• 2023-02-15 Listed $194,000 BRIGHT MLS
• 2021-10-12 Sold (Public Records) $166,000 Public Records
• 2021-10-12 Sold (MLS) $166,000 BRIGHT MLS
• 2021-09-22 Pending — BRIGHT MLS
• 2021-09-05 Listed $169,900 BRIGHT MLS
• 2017-08-19 Delisted — MRIS
• 2017-08-19 Listing Removed — BRIGHT MLS
• 2017-08-04 Listed — MRIS
• 2017-08-04 Listed $124,900 BRIGHT MLS
• 2017-06-28 Delisted — MRIS
• 2017-06-28 Listing Removed — BRIGHT MLS
• 2017-06-22 Relisted — MRIS
• 2017-06-08 Pending — MRIS
• 2017-05-24 Relisted — MRIS
• 2017-05-10 Pending — MRIS
• 2017-04-22 Price Changed — MRIS
• 2017-04-06 Relisted — MRIS
• 2017-04-05 Pending — MRIS
• 2017-03-27 Price Changed — MRIS
• 2017-03-11 Listed — MRIS
• 2017-03-11 Listed $124,900 BRIGHT MLS
• 2011-09-23 Sold (MLS) $66,000 BRIGHT MLS
• 2011-09-23 Sold (MLS) $66,000 MRIS
• 2011-09-15 Pending — MRIS
• 2011-09-15 Listing Removed — BRIGHT MLS
• 2011-09-13 Relisted — MRIS
• 2011-08-20 Pending — MRIS
• 2011-08-02 Listed $70,500 MRIS
• 2011-08-02 Listed $70,500 BRIGHT MLS
• 2007-05-25 Sold (MLS) $154,900 MRIS
• 2007-03-12 Delisted — MRIS
• 2006-10-09 Listed $154,900 MRIS

Property tax history

+2.5%/yr

Latest (2025): $1,583 · +2.5% YoY. Source: county tax records.