177 South Edgewood Dr · Independence, VA 24348

$167,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 261 Days on market

Built 1955 0.25 ac lot $142/sqft · at area comps Est $162k · at est.

---

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).

• Cash flow +9.2/30.0
• Appreciation +6.9/10.0
• ARV discount +6.2/15.0
• Schools +5.9/10.0
• Livability +3.3/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0

Listing remarks MLS

Experience the convenience of single-level living in this brick ranch home located in Independence. It boasts a prime location just a mile from restaurants, shopping, the library, and more. This well-kept brick ranch offers easy, one-level living with low-maintenance features throughout. Updates include a newer metal roof and vinyl tilt windows, providing both style and efficiency. Nestled at the end of a quiet street in a desirable neighborhood, this home is perfect for those just starting out or looking to downsize. A rare find that combines comfort, convenience, and peace of mind. Grayson Highlands State Park, known for its hiking trails and stunning views, is only 27 miles away. Additionally, you can enjoy kayaking on the New River, with a state boat landing just a few miles from your doorstep.

Key facts

• Quiet street
• Vinyl tilt windows
• Brick ranch home

Tags

• SINGLE-LEVEL LIVING
• BRICK RANCH HOME
• NEWER METAL ROOF
• VINYL TILT WINDOWS
• QUIET STREET
• DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (35.5% below list).
• Recommended offer: $108k (35.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 1.8% in Independence — 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 66/100 on livability (#320 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Grayson County Public School District (rural): math 68% / reading 76% proficiency, ranked #27 of 131 in VA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Independence Elementary (math 62% / reading 77%, grade A-, #313 of 1,108 statewide, top 32%, 277 students, 89% FRL); Independence Middle (math 60% / reading 73%, grade A-, #107 of 342 statewide, top 33%, 262 students, 88% FRL); Grayson County High (math 82% / reading 82%, grade A, #40 of 319 statewide, top 15%, 465 students, 87% FRL) — zoned schools average 88% FRL vs 53% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 47 active listings in the ZIP; 38 units permitted in Grayson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.7% local appreciation)).
• Grayson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $167k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,683 (35.5% 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 261 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.21%
• DSCR: 0.86
• GRM: 12.9

CMA / ARV

• ARV (median comp): $162,380
• List price: $167,000
• Delta: 2.85%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 Williams St	0.59mi	3/2.0	1,347 (+14%)	22mo	$235,000	$174	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.39×
• Total profit: $18,358
• Equity at exit: $81,803

10-year hold

• IRR: 9.1%
• Equity multiple: 2.47×
• Total profit: $68,849
• Equity at exit: $131,558

Cash invested: $46,760 (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 24348

• Home prices YoY: 1.8%
• Active inventory: 47
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,077 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $-125

Break-even live

Break-even rent $1,235

Max offer price $144,875

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-78	+0% $-125	+5% $-173	+10% $-419
Rent	-10% $-210	-5% $-168	+0% $-125	+5% $-83	+10% $-40
Rate	-1.0pp $-41	-0.5pp $-83	base $-125	+0.5pp $-169	+1.0pp $-213

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $167,000 Active 261 DOM
2. 2026-06-21
   days on market $167,000 Active 260 DOM
3. 2026-06-18
   days on market $167,000 Active 258 DOM
4. 2026-06-17
   days on market $167,000 Active 257 DOM
5. 2026-06-16
   days on market $167,000 Active 256 DOM
6. 2026-06-15
   days on market $167,000 Active 255 DOM
7. 2026-06-15
   days on market $167,000 Active 254 DOM
8. 2026-06-13
   days on market $167,000 Active 253 DOM
9. 2026-06-12
   days on market $167,000 Active 252 DOM
10. 2026-06-09
    days on market $167,000 Active 249 DOM
11. 2026-06-08
    days on market $167,000 Active 248 DOM
12. 2026-06-08
    days on market $167,000 Active 247 DOM
13. 2026-06-07
    days on market $167,000 Active 246 DOM
14. 2026-06-03
    days on market $167,000 Active 243 DOM
15. 2026-06-02
    days on market $167,000 Active 242 DOM
16. 2026-06-01
    days on market $167,000 Active 241 DOM
17. 2026-05-31
    days on market $167,000 Active 240 DOM
18. 2026-03-04
    price $167,000 809-char remark

    Show marketing remark (809 chars)

    Experience the convenience of single-level living in this brick ranch home located in Independence. It boasts a prime location just a mile from restaurants, shopping, the library, and more. This well-kept brick ranch offers easy, one-level living with low-maintenance features throughout. Updates include a newer metal roof and vinyl tilt windows, providing both style and efficiency. Nestled at the end of a quiet street in a desirable neighborhood, this home is perfect for those just starting out or looking to downsize. A rare find that combines comfort, convenience, and peace of mind. Grayson Highlands State Park, known for its hiking trails and stunning views, is only 27 miles away. Additionally, you can enjoy kayaking on the New River, with a state boat landing just a few miles from your doorstep.

19. 2025-10-02
    listed $179,000 Active 809-char remark

    Show marketing remark (809 chars)

    Experience the convenience of single-level living in this brick ranch home located in Independence. It boasts a prime location just a mile from restaurants, shopping, the library, and more. This well-kept brick ranch offers easy, one-level living with low-maintenance features throughout. Updates include a newer metal roof and vinyl tilt windows, providing both style and efficiency. Nestled at the end of a quiet street in a desirable neighborhood, this home is perfect for those just starting out or looking to downsize. A rare find that combines comfort, convenience, and peace of mind. Grayson Highlands State Park, known for its hiking trails and stunning views, is only 27 miles away. Additionally, you can enjoy kayaking on the New River, with a state boat landing just a few miles from your doorstep.

20. 2009-09-15
    soldstatus $67,500

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $1,369 · $114/mo
• Expected delta: +$1,002/yr (+$84/mo · 272.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,922
• − Mortgage interest: −$9,355
• − Property taxes: −$367
• − Insurance: −$835
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$4,858
• Taxable loss: −$4,560
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $-408/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: Grayson County Public School District
• NCES district ID: 5101690
• Math proficiency: 68% ▼ -20.00%
• Reading proficiency: 76% ▼ -7.00%
• Median HH income: $31,429
• Composite: 59.22/100
• National rank: #942
• State rank: #27 of 131 in VA

Livability — Independence

• Score: 66/100
• State rank: #320
• US rank: #11693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, VA
• Population (ZIP): 5,095

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 14,252 people
• By 2030: 13,634 · -4.3%
• By 2040: 12,202 · -14.4%
• By 2050: 10,811 · -24.1%
• By 2075: 8,069 · -43.4%
• By 2100: 5,647 · -60.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 13% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Serbian 1% Italian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+62.2) · D 18.6% · R 80.8%
• 2008→2024 swing: -33.7pp toward R · 2008: -28.5pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+61.4 2016: R+57.7 2012: R+37.9 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.70%
• Current HPI: 210.8969
• 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

+147.4% since first listed

3 events — show timeline

• 2026-03-04 Price Changed $167,000 SWVAR
• 2025-10-02 Listed $179,000 SWVAR
• 2009-09-15 Sold (Public Records) $67,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $367 · -25.9% YoY. Source: county tax records.