324 Ocoonita Rd · Jonesville, VA 24263

$69,900

3 bd · 1.0 ba · 1,998 sqft · SingleFamily public records · 160 Days on market

Built 1980 8.00 ac lot $35/sqft · 61% below area

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

Key facts

• Kitchen
• Living room
• Dining room

Tags

• 8 ACRES
• REMODELING IMPROVEMENTS
• TRADITIONAL LAYOUT
• LIVING ROOM
• DINING ROOM
• KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#397 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, schools B+; Watch: amenities F, commute F, employment F.
• Lee County Public School District (rural): math 53% / reading 69% proficiency, ranked #62 of 131 in VA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 48 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($483 loan paydown + $5k appreciation (7.0% local appreciation)).
• Lee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $70k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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 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: 1.74% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.36%
• DSCR: 2.35
• GRM: 4.8

CMA / ARV

• ARV (median comp): $179,567
• List price: $69,900
• Delta: -61.07%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

6.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.7%
• Equity multiple: 3.85×
• Total profit: $55,758
• Equity at exit: $48,229

10-year hold

• IRR: 39.0%
• Equity multiple: 8.08×
• Total profit: $138,507
• Equity at exit: $91,423

Cash invested: $19,572 (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 24263

• Home prices YoY: 3.3%
• Active inventory: 48
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$70 /mo · $839/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $495

Break-even live

Break-even rent $589

Max offer price $69,900

Occupancy floor 54%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-06
   price $69,900 375-char remark

   Show marketing remark (375 chars)

   Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

2. 2026-04-01
   price $79,900 375-char remark

   Show marketing remark (375 chars)

   Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

3. 2026-02-25
   price $89,000 375-char remark

   Show marketing remark (375 chars)

   Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

4. 2026-01-23
   price $99,000 375-char remark

   Show marketing remark (375 chars)

   Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

5. 2025-12-14
   listed $105,000 Active 375-char remark

   Show marketing remark (375 chars)

   Privacy on 8 acres! This tri-level has some remodeling improvements and packed with potential. This tr-level has a traditional layout with living room, dining room and kitchen on main level. Three bedrooms upstairs with rough-in bath. Downstairs has a workshop and plenty of room of storage. This property is waiting for your personal touches to maximize its full potential.

6. 1995-09-26
   soldstatus $40,000

ⓘ 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: $839 · $70/mo
• Projected year-2 tax: $839 · $70/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,595
• − Mortgage interest: −$3,915
• − Property taxes: −$839
• − Insurance: −$350
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$2,033
• Taxable income: $5,122
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,713/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: Lee County Public School District
• NCES district ID: 5102190
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -9.00%
• Median HH income: $31,356
• Composite: 50.06/100
• National rank: #1913
• State rank: #62 of 131 in VA

Livability — Jonesville

• Score: 62/100
• State rank: #397
• US rank: #16359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,661

Population outlook (Lee County) Hauer SSP2

• Today (2025): 22,861 people
• By 2030: 21,701 · -5.1%
• By 2040: 19,188 · -16.1%
• By 2050: 16,619 · -27.3%
• By 2075: 11,795 · -48.4%
• By 2100: 8,290 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+72.0) · D 13.8% · R 85.8%
• 2008→2024 swing: -43.8pp toward R · 2008: -28.2pp · 2024: -72.0pp
• All cycles: 2024: R+72.0 2020: R+69.1 2016: R+63.2 2012: R+44.4 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.95%
• Current HPI: 218.0947
• 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

+74.8% since first listed

6 events — show timeline

• 2026-05-06 Price Changed $69,900 TVRMLS
• 2026-04-01 Price Changed $79,900 TVRMLS
• 2026-02-25 Price Changed $89,000 TVRMLS
• 2026-01-23 Price Changed $99,000 TVRMLS
• 2025-12-14 Listed $105,000 TVRMLS
• 1995-09-26 Sold (Public Records) $40,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $839 · +56.4% YoY. Source: county tax records.