274 Highland St · Gate City, VA 24251

$159,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily · 13 Days on market

Built 2003 9,147 sqft lot Est $130k · 23% over

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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).

• Cash flow +16.1/30.0
• Schools +5.8/10.0
• Appreciation +5.1/10.0
• DSCR +5.0/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Move in READY! One Level Living. 3 bedrooms with 1 Bathroom, spacious living room, eat- in kitchen with great cabinet space, and a HUGE front porch with views Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Freshly painted new ceiling fans, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Heat Pump 2024, Water Heater 2021. All kitchen Appliances and washer and dryer are included. . Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Just minutes to Kingsport Tn. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

Key facts

• Ample closet spaces
• Huge front porch
• Great curb appeal

Tags

• ONE LEVEL LIVING
• HUGE FRONT PORCH
• GREAT CABINET SPACE
• BEAUTIFUL LVP FLOORING
• AMPLE CLOSET SPACES
• GREAT CURB APPEAL

Property features AI

Finance

• HOA & community: Landscaping (association amenity)

Exterior

• Parking: Driveway; Concrete driveway
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family house; One level; Residential zoning
• Construction: Block foundation; Block and vinyl siding construction; Shingle roof; Home warranty included
• Exterior features: Front porch; Shed(s); Rolling slope lot; Lot dimensions approximately 65 x 150

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Eat-in kitchen; Entrance foyer; Double-pane windows; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $83 ($1k/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 $132k (17.6% below list).
• Recommended offer: $132k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.4% in Gate City — 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 62/100 on livability (#400 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Scott County Public School District (rural): math 66% / reading 73% proficiency, ranked #33 of 131 in VA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shoemaker Elementary (math 64% / reading 72%, grade B+, #366 of 1,108 statewide, top 33%, 450 students, 81% FRL); Gate City Middle (math 74% / reading 71%, grade A, #61 of 342 statewide, top 18%, 333 students, 78% FRL); Gate City High (math 77% / reading 82%, grade A-, #63 of 319 statewide, top 22%, 619 students, 77% FRL) — zoned schools average 79% FRL vs 48% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 51 active listings in the ZIP; 22 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $358 appreciation (0.2% local appreciation)).
• Scott County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $131,743 (17.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.82% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $130,032
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
274 Highland St	0.00mi	3/1.0	1,008 (0%)	9mo	$145,000	$144	93
553 Highland St	0.28mi	2/1.0 (-1)	896 (-11%)	7mo	$150,000	$167	58
316 Manville Rd	0.63mi	2/1.5 (-1)	1,028 (+2%)	11mo	$132,500	$129	52
568 Manville Rd	0.64mi	3/1.0	1,151 (+14%)	10mo	$84,800	$74	39
127 Promise St	0.57mi	3/1.5	1,144 (+14%)	13mo	$20,000	$17	38

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

Projected returns pro-forma

0.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.05×
• Total profit: $2,255
• Equity at exit: $48,231

10-year hold

• IRR: 6.3%
• Equity multiple: 1.70×
• Total profit: $31,421
• Equity at exit: $59,432

Cash invested: $44,772 (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 24251

• Home prices YoY: 0.1%
• Active inventory: 51
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $83

Break-even live

Break-even rent $1,212

Max offer price $159,900

Occupancy floor 89%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-01
   status $159,900 Pending 13 DOM
2. 2026-05-31
   days on market $159,900 Active 13 DOM
3. 2026-05-18
   listed $159,900 Active 1164-char remark

   Show marketing remark (1164 chars)

   Move in READY! One Level Living. 3 bedrooms with 1 Bathroom, spacious living room, eat- in kitchen with great cabinet space, and a HUGE front porch with views Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Freshly painted new ceiling fans, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Heat Pump 2024, Water Heater 2021. All kitchen Appliances and washer and dryer are included. . Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Just minutes to Kingsport Tn. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

4. 2026-05-18
   listed $159,900 Active

   Show marketing remark (1164 chars)

   Move in READY! One Level Living. 3 bedrooms with 1 Bathroom, spacious living room, eat- in kitchen with great cabinet space, and a HUGE front porch with views Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Freshly painted new ceiling fans, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Heat Pump 2024, Water Heater 2021. All kitchen Appliances and washer and dryer are included. . Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Just minutes to Kingsport Tn. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

5. 2025-10-03
   soldstatus $145,000
6. 2025-10-02
   soldstatus $145,000 Closed 1093-char remark

   Show marketing remark (1093 chars)

   Here's exactly what you've been looking for! Three bedrooms, spacious living room, eat- in kitchen with great cabinet space, beautifully designed bathroom, and a HUGE front porch with views UNDER 150k. Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Nice neutral paint colors, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Move- in ready! Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

7. 2025-08-25
   historical Active Under Contract 1093-char remark

   Show marketing remark (1093 chars)

   Here's exactly what you've been looking for! Three bedrooms, spacious living room, eat- in kitchen with great cabinet space, beautifully designed bathroom, and a HUGE front porch with views UNDER 150k. Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Nice neutral paint colors, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Move- in ready! Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

8. 2025-08-06
   listed $149,900 Active 1093-char remark

   Show marketing remark (1093 chars)

   Here's exactly what you've been looking for! Three bedrooms, spacious living room, eat- in kitchen with great cabinet space, beautifully designed bathroom, and a HUGE front porch with views UNDER 150k. Step inside this lovely home and you will see the immaculate maintenance given to 274 Highland Street in Gate City, VA. Built in 2003, this home is a standout with beautiful LVP flooring and such charm throughout. Nice neutral paint colors, ample closet spaces, and spacious rooms. Inviting home with modern appeal, character, and charm. That pop of color on the front door gives the home a cheerful, welcoming feel and great curb appeal. Move- in ready! Great opportunity for first time home buyers, those looking to downsize, or investors seeking rental potential. Minutes from downtown Gate City and easy access to all of SW Virginia and NE Tennessee. Cozy neighborhood, plenty of room for parking, and yard space. There's so much to love about this Highland Street home. Schedule your private tour today. All info herein deemed reliable but subject to Buyer/ Buyer Agent verification.

9. 2019-08-13
   soldstatus $73,000

ⓘ 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: $627 · $52/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$684/yr (+$57/mo · 109.2%)

ⓘ 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 4/10 Moderate 8 d/yr ≥100°F today · 23 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: $15,809
• − Mortgage interest: −$8,957
• − Property taxes: −$627
• − Insurance: −$800
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$4,652
• Taxable loss: −$1,755
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $1,422/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: Scott County Public School District
• NCES district ID: 5103480
• Math proficiency: 66% ▼ -26.00%
• Reading proficiency: 73% ▼ -12.00%
• Median HH income: $36,567
• Composite: 57.65/100
• National rank: #1061
• State rank: #33 of 131 in VA

Livability — Gate City

• Score: 62/100
• State rank: #400
• US rank: #16427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gate City, VA
• Population (ZIP): 7,976

Population outlook (Scott County) Hauer SSP2

• Today (2025): 20,405 people
• By 2030: 19,379 · -5.0%
• By 2040: 17,325 · -15.1%
• By 2050: 15,464 · -24.2%
• By 2075: 11,845 · -42.0%
• By 2100: 8,516 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -27.3pp toward R · 2008: -43.1pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+67.8 2016: R+66.3 2012: R+50.6 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.22%
• Current HPI: 211.6519
• 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

+119.0% since first listed

7 events — show timeline

• 2026-05-18 Listed $159,900 SWVAR
• 2026-05-18 Listed $159,900 TVRMLS
• 2025-10-03 Sold (Public Records) $145,000 Public Records
• 2025-10-02 Sold (MLS) $145,000 TVRMLS
• 2025-08-25 Contingent — TVRMLS
• 2025-08-06 Listed $149,900 TVRMLS
• 2019-08-13 Sold (Public Records) $73,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $627 · +0.0% YoY. Source: county tax records.