1450 & 1452 Sandy Cir · Prices Fork, VA 24060

$389,000

4 bd · 2.0 ba · 2,198 sqft · MultiFamily public records · 336 Days on market

Built 1980 0.37 ac lot $177/sqft · 37% below area Est $613k · 37% under ↓ 3% since listing

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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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• Schools +5.4/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover a fantastic investment opportunity in desirable Montgomery Farms! This brick ranch duplex offers over 2,100 sq ft on one level, featuring two well-maintained units with a combined 5 bedrooms and 2 full baths. Each side includes a spacious living area, full kitchen, in-unit laundry, and a private back patio—ideal for comfortable everyday living. With a prime Blacksburg location near Prices Fork, local schools, shopping, and VT amenities, this property is perfect for investors or an owner-occupant seeking supplemental rental income. A solid, income-producing property you won’t want to miss! Both sides rented but a sublease will be available come February 2026 on the 2-bedroom unit.

Key facts

• Large living area
• Full kitchen
• In-unit laundry

Tags

• BRICK RANCH DUPLEX
• PRIVATE BACK PATIO
• LARGE LIVING AREA
• FULL KITCHEN
• IN-UNIT LAUNDRY
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/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 $363k (6.7% below list).
• Recommended offer: $342k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.1% in Prices Fork — 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 83/100 on livability (#42 in VA, #1,003 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing 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.
• Market conditions: Rents rising (+4.0%/yr); 313 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• At $3,629/mo this rent would consume 64% of the median local household income ($68k/yr) (locally 3694% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 336 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 2 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 $342,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (median comp): $612,912
• List price: $389,000
• Delta: -36.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.95% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-28,753
• Equity at exit: $58,001

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $28,875
• Equity at exit: $33,634

Cash invested: $108,920 (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 24060

• Rents YoY: 4.0%
• Active inventory: 313
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $3,629 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$179 /mo · $2,154/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $485

Break-even live

Break-even rent $3,015

Max offer price $389,000

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,628
Total (2 units)			$3,629

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3016 Deptford St Blacksburg, VA	3.0	3.5	2082	$2,800	$1.34	43d	1	0.35mi
1071 Balsam Ln Unit 301 Blacksburg, VA	3.0	3.5	2096	$2,500	$1.19	43d	1	0.42mi
1085 Balsam Ln Unit WHT304 Blacksburg, VA	3.0	3.5	2096	$2,600	$1.24	43d	1	0.49mi
1063 Balsam Ln Blacksburg, VA	3.0	2.5	2100	$2,700	$1.29	43d	1	0.51mi
2005 Kyles Way Blacksburg, VA	3.0	2.5	1658	$2,200	$1.33	43d	1	0.94mi
2016 Kyles Way Blacksburg, VA	3.0	3.0	1617	$2,375	$1.47	43d	1	0.98mi

Listing history 3 events

1. 2026-02-05
   status Active 709-char remark

   Show marketing remark (709 chars)

   Discover a fantastic investment opportunity in desirable Montgomery Farms! This brick ranch duplex offers over 2,100 sq ft on one level, featuring two well-maintained units with a combined 5 bedrooms and 2 full baths. Each side includes a spacious living area, full kitchen, in-unit laundry, and a private back patio—ideal for comfortable everyday living. With a prime Blacksburg location near Prices Fork, local schools, shopping, and VT amenities, this property is perfect for investors or an owner-occupant seeking supplemental rental income. A solid, income-producing property you won’t want to miss! Both sides rented but a sublease will be available come February 2026 on the 2-bedroom unit.

2. 2025-11-21
   price $389,000 709-char remark

   Show marketing remark (709 chars)

   Discover a fantastic investment opportunity in desirable Montgomery Farms! This brick ranch duplex offers over 2,100 sq ft on one level, featuring two well-maintained units with a combined 5 bedrooms and 2 full baths. Each side includes a spacious living area, full kitchen, in-unit laundry, and a private back patio—ideal for comfortable everyday living. With a prime Blacksburg location near Prices Fork, local schools, shopping, and VT amenities, this property is perfect for investors or an owner-occupant seeking supplemental rental income. A solid, income-producing property you won’t want to miss! Both sides rented but a sublease will be available come February 2026 on the 2-bedroom unit.

3. 2025-06-26
   listed $399,000 Active 709-char remark

   Show marketing remark (709 chars)

   Discover a fantastic investment opportunity in desirable Montgomery Farms! This brick ranch duplex offers over 2,100 sq ft on one level, featuring two well-maintained units with a combined 5 bedrooms and 2 full baths. Each side includes a spacious living area, full kitchen, in-unit laundry, and a private back patio—ideal for comfortable everyday living. With a prime Blacksburg location near Prices Fork, local schools, shopping, and VT amenities, this property is perfect for investors or an owner-occupant seeking supplemental rental income. A solid, income-producing property you won’t want to miss! Both sides rented but a sublease will be available come February 2026 on the 2-bedroom unit.

ⓘ 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: $2,154 · $179/mo
• Projected year-2 tax: $3,190 · $266/mo
• Expected delta: +$1,036/yr (+$86/mo · 48.1%)

ⓘ 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 · 21 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: $43,548
• − Mortgage interest: −$21,790
• − Property taxes: −$2,154
• − Insurance: −$1,945
• − Repairs & maintenance: −$3,484
• − Management: −$3,484
• − Depreciation: −$11,316
• Taxable loss: −$625
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $5,975/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 — Prices Fork

• Score: 83/100
• State rank: #42
• US rank: #1003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prices Fork, VA
• County: Montgomery County · 78,218 people
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 48,541
• Household income: $67,675
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 3694.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 86% English-only · Other Indo-European 4% Chinese 3% Spanish 3%

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: ▼ -176.54%
• Current HPI: 289.8166
• Rent YoY: ▲ 3.95%
• 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

-2.5% since first listed

3 events — show timeline

• 2026-02-05 Relisted — NRVMLS
• 2025-11-21 Price Changed $389,000 NRVMLS
• 2025-06-26 Listed $399,000 NRVMLS

Property tax history

+2.7%/yr

Latest (2025): $2,154 · +1.3% YoY. Source: county tax records.