2598 Townhouse Dr · Christiansburg, VA 24073

$189,000

2 bd · 2.5 ba · 1,080 sqft · Townhouse public records · 108 Days on market

Built 1988 9,540 sqft lot $175/sqft · 9% above area Est $173k · 9% 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 +15.6/30.0
• Schools +5.4/10.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• ARV discount +3.3/15.0
• 1% rule +3.2/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable end unit in great condition convenient to I81, shopping, and schools. This end unit offers privacy and convenience. Will make a great first time home or investment property with a solid rental history. 2 car carport with the property.

Key facts

• Great condition
• End unit
• Solid rental history

Tags

• END UNIT
• GREAT CONDITION
• SOLID RENTAL HISTORY
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $189k.

Deal economics

• At list price, monthly cash flow is $78 ($936/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 $154k (18.3% below list).
• Recommended offer: $154k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.9% in Christiansburg — 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 81/100 on livability (#53 in VA, #1,452 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Falling Branch Elementary (math 56% / reading 68%, grade B, #480 of 1,108 statewide, top 46%, 576 students, 52% FRL); Christiansburg Middle (math 38% / reading 63%, grade C, #226 of 342 statewide, top 67%, 752 students, 44% FRL); Christiansburg High (math 79% / reading 77%, grade A-, #80 of 319 statewide, top 25%, 1,116 students, 41% FRL).
• Market conditions: Rents rising (+1.1%/yr); 250 active listings in the ZIP; solid renter incomes; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $107k; list at $189k implies a 77% gain — meaningful room to come down on a strong offer.

Recommended offer $154,452 (18.3% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.82% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (median comp): $172,820
• List price: $189,000
• Delta: 9.36%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2602 Glade Dr	0.04mi	2/2.5	1,080 (0%)	4mo	$170,000	$157	95
2596 Glade Dr SE	0.04mi	2/2.5	1,080 (0%)	8mo	$170,000	$157	92
2594 Townhouse St	0.01mi	2/2.5	1,062 (-2%)	10mo	$180,000	$169	88
2576 Townhouse St	0.05mi	2/2.5	1,033 (-4%)	10mo	$170,000	$165	82
2665 Glade Dr SE	0.10mi	2/2.5	1,166 (+8%)	6mo	$210,000	$180	78

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

Projected returns pro-forma

-3.0% appreciation · 1.05% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.46×
• Total profit: $-28,707
• Equity at exit: $28,181

10-year hold

• IRR: -10.3%
• Equity multiple: 0.42×
• Total profit: $-30,644
• Equity at exit: $16,341

Cash invested: $52,920 (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 24073

• Home prices YoY: -26.2%
• Rents YoY: 1.1%
• Active inventory: 250
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$72 /mo · $867/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $78

Break-even live

Break-even rent $1,446

Max offer price $189,000

Occupancy floor 90%

Sensitivity live

Price	-10% $185	-5% $132	+0% $78	+5% $25	+10% $-29
Rent	-10% $-44	-5% $17	+0% $78	+5% $139	+10% $200
Rate	-1.0pp $173	-0.5pp $126	base $78	+0.5pp $29	+1.0pp $-21

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $189,000 Active 108 DOM
2. 2026-06-19
   days on market $189,000 Active 106 DOM
3. 2026-06-18
   days on market $189,000 Active 105 DOM
4. 2026-06-17
   days on market $189,000 Active 104 DOM
5. 2026-06-16
   days on market $189,000 Active 103 DOM
6. 2026-06-15
   days on market $189,000 Active 102 DOM
7. 2026-06-14
   days on market $189,000 Active 100 DOM
8. 2026-06-13
   days on market $189,000 Active 99 DOM
9. 2026-06-10
   days on market $189,000 Active 97 DOM
10. 2026-06-09
    days on market $189,000 Active 96 DOM
11. 2026-06-08
    days on market $189,000 Active 95 DOM
12. 2026-06-07
    days on market $189,000 Active 94 DOM
13. 2026-06-05
    days on market $189,000 Active 91 DOM
14. 2026-06-03
    days on market $189,000 Active 90 DOM
15. 2026-06-02
    days on market $189,000 Active 89 DOM
16. 2026-06-01
    days on market $189,000 Active 88 DOM
17. 2026-05-31
    days on market $189,000 Active 87 DOM
18. 2026-05-30
    days on market $189,000 Active 86 DOM
19. 2026-05-08
    price $189,000 245-char remark

    Show marketing remark (245 chars)

    Affordable end unit in great condition convenient to I81, shopping, and schools. This end unit offers privacy and convenience. Will make a great first time home or investment property with a solid rental history. 2 car carport with the property.

20. 2026-03-05
    listed $195,000 Active 245-char remark

    Show marketing remark (245 chars)

    Affordable end unit in great condition convenient to I81, shopping, and schools. This end unit offers privacy and convenience. Will make a great first time home or investment property with a solid rental history. 2 car carport with the property.

21. 2019-03-18
    soldstatus $107,000
22. 2019-03-15
    soldstatus $107,000 264-char remark

    Show marketing remark (264 chars)

    TOTALLY REMODELED TOWNHOUSE. NEW KITCHEN WITH ALL NEW APPLIANCES, INCLUDING REFRIGERATOR, DISHWASHER, RANGE OVEN. ETC. NEW FLOORS THROUGHOUT. PERFECT FOR THE FIRST TIME HOME BUYER OR INVESTOR LOOKING TO BEGIN THEIR PORTFOLIO. ONLY UNIT WITH CARPORT. MOVE IN READY.

23. 2018-12-18
    listed $112,000 264-char remark

    Show marketing remark (264 chars)

    TOTALLY REMODELED TOWNHOUSE. NEW KITCHEN WITH ALL NEW APPLIANCES, INCLUDING REFRIGERATOR, DISHWASHER, RANGE OVEN. ETC. NEW FLOORS THROUGHOUT. PERFECT FOR THE FIRST TIME HOME BUYER OR INVESTOR LOOKING TO BEGIN THEIR PORTFOLIO. ONLY UNIT WITH CARPORT. MOVE IN READY.

24. 2018-06-13
    soldstatus $67,000
25. 2018-01-19
    soldstatus $43,846
26. 2004-08-20
    soldstatus $86,000
27. 2000-10-15
    soldstatus $66,000
28. 2000-10-15
    soldstatus $66,000

ⓘ 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: $867 · $72/mo
• Projected year-2 tax: $1,550 · $129/mo
• Expected delta: +$683/yr (+$57/mo · 78.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥95°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,534
• − Mortgage interest: −$10,587
• − Property taxes: −$867
• − Insurance: −$945
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$5,498
• Taxable loss: −$2,329
• Est. tax savings @ 24.0%: +$559
• After-tax cash flow: $1,495/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: Montgomery County Public School District
• NCES district ID: 5102520
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 70% ▼ -11.00%
• Median HH income: $46,618
• Composite: 53.6/100
• National rank: #1440
• State rank: #47 of 131 in VA

Livability — Christiansburg

• Score: 81/100
• State rank: #53
• US rank: #1452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Christiansburg, VA
• County: Montgomery County · 78,218 people
• City population: 29,677
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 29,677
• Household income: $76,800
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 861.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 105,748 people
• By 2030: 110,301 · +4.3%
• By 2040: 115,652 · +9.4%
• By 2050: 119,651 · +13.1%
• By 2075: 126,005 · +19.2%
• By 2100: 129,771 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 4% Hispanic / Latino 4% Asian 3%
• Common ancestry: Italian 3% Slovak 3% Serbian 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2% Korean 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 50.9% · R 47.4% · Other 1.7%
• 2008→2024 swing: -1.4pp toward R · 2008: 4.9pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+5.8 2016: D+1.3 2012: R+0.2 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.98%
• Current HPI: 267.2504
• Rent YoY: ▲ 1.05%
• Metro: Blacksburg-Christiansburg, VA
• 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

+186.4% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $189,000 NRVMLS
• 2026-03-05 Listed $195,000 NRVMLS
• 2019-03-18 Sold (Public Records) $107,000 Public Records
• 2019-03-15 Sold (MLS) $107,000 NRVMLS
• 2018-12-18 Listed $112,000 NRVMLS
• 2018-06-13 Sold (Public Records) $67,000 Public Records
• 2018-01-19 Sold (Public Records) $43,846 Public Records
• 2004-08-20 Sold (Public Records) $86,000 Public Records
• 2000-10-15 Sold (Public Records) $66,000 Public Records
• 2000-10-15 Sold (Public Records) $66,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $867 · +1.3% YoY. Source: county tax records.