6002 Mew Rd · Castlewood, VA 24224

$147,500

4 bd · 1.5 ba · 2,280 sqft · SingleFamily public records · 269 Days on market

Built 1969 8,712 sqft lot $65/sqft · 14% below area Est $172k · 14% under

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Why this score? — see what drove the C- 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 +15.2/30.0
• ARV discount +13.8/15.0
• Schools +5.4/10.0
• DSCR +4.7/10.0
• Appreciation +3.9/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

Key facts

• Substantial basement
• Expansive kitchen
• Front porch

Tags

• EXPANSIVE KITCHEN
• GENEROUS CABINET STORAGE
• LARGE LIVING AREAS
• SUBSTANTIAL BASEMENT
• HARDWOOD FLOORS
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $50 ($605/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (21.2% below list).
• Recommended offer: $116k (21.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#287 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Russell County Public School District (rural): math 58% / reading 73% proficiency, ranked #44 of 131 in VA (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 27 active listings in the ZIP; 35 units permitted in Russell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Russell County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $32k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,263 (21.2% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 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. 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: 0.79% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 10.6

CMA / ARV

• ARV (median comp): $171,708
• List price: $147,500
• Delta: -14.10%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
493 Banners Corner Rd	0.18mi	4/3.0	1,944 (-15%)	6mo	$100,000	$51	56
108 Elam Rd	0.21mi	3/3.0 (-1)	2,458 (+8%)	18mo	$195,000	$79	51

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

Projected returns pro-forma

-2.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.63×
• Total profit: $-15,217
• Equity at exit: $27,894

10-year hold

• IRR: -1.4%
• Equity multiple: 0.89×
• Total profit: $-4,502
• Equity at exit: $23,125

Cash invested: $41,300 (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 24224

• Home prices YoY: -1.4%
• Active inventory: 27
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$33 /mo · $397/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $50

Break-even live

Break-even rent $1,099

Max offer price $147,500

Occupancy floor 91%

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $147,500 Active 269 DOM
2. 2026-06-18
   days on market $147,500 Active 268 DOM
3. 2026-06-17
   days on market $147,500 Active 267 DOM
4. 2026-06-16
   days on market $147,500 Active 266 DOM
5. 2026-06-15
   days on market $147,500 Active 265 DOM
6. 2026-06-14
   days on market $147,500 Active 263 DOM
7. 2026-06-13
   days on market $147,500 Active 262 DOM
8. 2026-06-10
   days on market $147,500 Active 260 DOM
9. 2026-06-09
   days on market $147,500 Active 259 DOM
10. 2026-06-08
    days on market $147,500 Active 258 DOM
11. 2026-06-07
    days on market $147,500 Active 257 DOM
12. 2026-06-02
    days on market $147,500 Active 252 DOM
13. 2026-06-01
    days on market $147,500 Active 251 DOM
14. 2026-05-31
    days on market $147,500 Active 250 DOM
15. 2026-05-30
    days on market $147,500 Active 249 DOM
16. 2026-03-26
    status Active 708-char remark

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

17. 2026-01-17
    historical 708-char remark

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

18. 2025-12-12
    price $147,500

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

19. 2025-12-12
    price $147,500 708-char remark

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

20. 2025-09-24
    price $172,500 708-char remark

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

21. 2025-07-17
    listed $179,900 Active 708-char remark

    Show marketing remark (708 chars)

    This spacious property offers ample room and a variety of functional spaces to accommodate diverse needs. The home features an expansive kitchen with generous cabinet storage, two large living areas, four well-proportioned bedrooms, a substantial basement suitable for storage, and a one-car garage. Additional amenities include hardwood floors, a front porch with a level yard and a back patio ideal for outdoor grilling. The residence is move in ready and awaits its new owners. Prospective buyers are invited to schedule a viewing appointment. All information has been obtained from county records and should be independently verified by purchasers and their agents. The property is being sold ''AS IS. ''

22. 2023-03-20
    soldstatus $145,000
23. 2023-03-20
    soldstatus $146,000
24. 2021-10-19
    listed $145,000

ⓘ 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: $397 · $33/mo
• Projected year-2 tax: $1,210 · $101/mo
• Expected delta: +$813/yr (+$68/mo · 204.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 20 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: $13,952
• − Mortgage interest: −$8,262
• − Property taxes: −$397
• − Insurance: −$738
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$4,291
• Taxable loss: −$1,968
• Est. tax savings @ 24.0%: +$472
• After-tax cash flow: $1,078/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: Russell County Public School District
• NCES district ID: 5103420
• Math proficiency: 58% ▼ -32.00%
• Reading proficiency: 73% ▼ -10.00%
• Median HH income: $34,970
• Composite: 54.14/100
• National rank: #1384
• State rank: #44 of 131 in VA

Livability — Castlewood

• Score: 67/100
• State rank: #287
• US rank: #10291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Castlewood, VA
• Population (ZIP): 5,330

Population outlook (Russell County) Hauer SSP2

• Today (2025): 25,787 people
• By 2030: 24,485 · -5.0%
• By 2040: 21,750 · -15.7%
• By 2050: 19,214 · -25.5%
• By 2075: 14,500 · -43.8%
• By 2100: 10,629 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 2% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 1%

Political lean MEDSL · Russell

• 2024 margin: Solid R (+67.5) · D 16.1% · R 83.6%
• 2008→2024 swing: -54.8pp toward R · 2008: -12.7pp · 2024: -67.5pp
• All cycles: 2024: R+67.5 2020: R+63.5 2016: R+58.9 2012: R+37.0 2008: R+12.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.11%
• Current HPI: 149.7296
• 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

+1.7% since first listed

9 events — show timeline

• 2026-03-26 Relisted — TVRMLS
• 2026-01-17 Delisted — TVRMLS
• 2025-12-12 Price Changed $147,500 SWVAR
• 2025-12-12 Price Changed $147,500 TVRMLS
• 2025-09-24 Price Changed $172,500 TVRMLS
• 2025-07-17 Listed $179,900 TVRMLS
• 2023-03-20 Sold (Public Records) $146,000 Public Records
• 2023-03-20 Sold (MLS) $145,000 TVRMLS
• 2021-10-19 Listed $145,000 TVRMLS

Property tax history

-2.9%/yr

Latest (2024): $397 · +0.0% YoY. Source: county tax records.