426 Craig St E · Craigsville, VA 24430

$99,000

3 bd · 2.0 ba · 1,644 sqft · SingleFamily public records · 87 Days on market

Built 1926 0.79 ac lot $60/sqft · 55% 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 +27.6/30.0
• DSCR +9.7/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits in the heart of Craigsville! This 1926 2-story farmhouse sits on a generous . 79 acre in-town lot and is ready for renovation. Featuring about 1700 sf, hardwood floors and classic farmhouse character, this property offers the chance to restore and make it your own. The current layout offers flexibility and may allow for the addition of a 1st floor primary bedroom and bath. Recent communication with Town of Craigsville indicates the lot size may meet minimum requirements for potential division; however any subdivision or additional access would be subject to further approvals. Buyer to verify. Ideal for investors or buyers seeking a renovation opportunity. Property is being sold "AS IS". * * Shed does NOT convey * * Buyers should verify loan eligibility with their lender. Cash or renovation financing will likely be required.

Key facts

• Hardwood floors
• 0.79 acre lot
• Built 1926

Tags

• GENEROUS .79 ACRE LOT
• 1926 2-STORY FARMHOUSE
• HARDWOOD FLOORS
• CLASSIC FARMHOUSE CHARACTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#431 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A; Watch: schools C-, crime C-, amenities F.
• Augusta County Public School District (rural): math 55% / reading 69% proficiency, ranked #52 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($684 loan paydown + $7k appreciation (7.4% local appreciation)).
• At projected returns (7.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, 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 87 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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: 1.16% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.85%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (median comp): $240,049
• List price: $99,000
• Delta: -58.76%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Central Ave N	0.57mi	3/2.0	1,726 (+5%)	9mo	$307,500	$178	58
101 Brookhollow Rd	0.43mi	3/2.0	1,568 (-5%)	21mo	$199,000	$127	55

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

Projected returns pro-forma

7.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.02×
• Total profit: $56,112
• Equity at exit: $71,436

10-year hold

• IRR: 26.1%
• Equity multiple: 6.36×
• Total profit: $148,696
• Equity at exit: $138,342

Cash invested: $27,720 (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 24430

• Home prices YoY: 2.3%
• Active inventory: 16
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$47 /mo · $568/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $297

Break-even live

Break-even rent $769

Max offer price $99,000

Occupancy floor 69%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $99,000 Active 87 DOM
2. 2026-06-18
   days on market $99,000 Active 86 DOM
3. 2026-06-17
   days on market $99,000 Active 85 DOM
4. 2026-06-16
   days on market $99,000 Active 84 DOM
5. 2026-06-15
   days on market $99,000 Active 83 DOM
6. 2026-06-14
   days on market $99,000 Active 81 DOM
7. 2026-06-13
   days on market $99,000 Active 80 DOM
8. 2026-06-10
   days on market $99,000 Active 78 DOM
9. 2026-06-09
   days on market $99,000 Active 77 DOM
10. 2026-06-08
    days on market $99,000 Active 76 DOM
11. 2026-06-07
    days on market $99,000 Active 75 DOM
12. 2026-06-05
    days on market $99,000 Active 72 DOM
13. 2026-06-03
    pricedays on market $99,000 Active 71 DOM
14. 2026-06-02
    days on market $109,000 Active 70 DOM
15. 2026-06-01
    days on market $109,000 Active 69 DOM
16. 2026-05-31
    days on market $109,000 Active 68 DOM
17. 2026-05-30
    days on market $109,000 Active 67 DOM
18. 2026-05-01
    price $109,000 869-char remark

    Show marketing remark (869 chars)

    Opportunity awaits in the heart of Craigsville! This 1926 2-story farmhouse sits on a generous . 79 acre in-town lot and is ready for renovation. Featuring about 1700 sf, hardwood floors and classic farmhouse character, this property offers the chance to restore and make it your own. The current layout offers flexibility and may allow for the addition of a 1st floor primary bedroom and bath. Recent communication with Town of Craigsville indicates the lot size may meet minimum requirements for potential division; however any subdivision or additional access would be subject to further approvals. Buyer to verify. Ideal for investors or buyers seeking a renovation opportunity. Property is being sold "AS IS". * * Shed does NOT convey * * Buyers should verify loan eligibility with their lender. Cash or renovation financing will likely be required.

19. 2026-04-16
    price $119,000 869-char remark

    Show marketing remark (869 chars)

    Opportunity awaits in the heart of Craigsville! This 1926 2-story farmhouse sits on a generous . 79 acre in-town lot and is ready for renovation. Featuring about 1700 sf, hardwood floors and classic farmhouse character, this property offers the chance to restore and make it your own. The current layout offers flexibility and may allow for the addition of a 1st floor primary bedroom and bath. Recent communication with Town of Craigsville indicates the lot size may meet minimum requirements for potential division; however any subdivision or additional access would be subject to further approvals. Buyer to verify. Ideal for investors or buyers seeking a renovation opportunity. Property is being sold "AS IS". * * Shed does NOT convey * * Buyers should verify loan eligibility with their lender. Cash or renovation financing will likely be required.

20. 2026-03-23
    listed $129,000 Active 869-char remark

    Show marketing remark (869 chars)

    Opportunity awaits in the heart of Craigsville! This 1926 2-story farmhouse sits on a generous . 79 acre in-town lot and is ready for renovation. Featuring about 1700 sf, hardwood floors and classic farmhouse character, this property offers the chance to restore and make it your own. The current layout offers flexibility and may allow for the addition of a 1st floor primary bedroom and bath. Recent communication with Town of Craigsville indicates the lot size may meet minimum requirements for potential division; however any subdivision or additional access would be subject to further approvals. Buyer to verify. Ideal for investors or buyers seeking a renovation opportunity. Property is being sold "AS IS". * * Shed does NOT convey * * Buyers should verify loan eligibility with their lender. Cash or renovation financing will likely be required.

21. 2014-09-04
    soldstatus $416,690
22. 2012-05-30
    soldstatus $85,000 189-char remark

    Show marketing remark (189 chars)

    Turn of the century farmhouse remodeled with new replacement windows, new tile, new carpet, new paint, new hot water heater and more! Home sits on almost one acre and is ready to move into!

23. 2011-07-25
    listed $99,900 189-char remark

    Show marketing remark (189 chars)

    Turn of the century farmhouse remodeled with new replacement windows, new tile, new carpet, new paint, new hot water heater and more! Home sits on almost one acre and is ready to move into!

24. 2007-04-13
    soldstatus $59,000

ⓘ 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: $568 · $47/mo
• Projected year-2 tax: $812 · $68/mo
• Expected delta: +$243/yr (+$20/mo · 42.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $13,742
• − Mortgage interest: −$5,546
• − Property taxes: −$568
• − Insurance: −$495
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$2,880
• Taxable income: $2,054
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $3,070/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: Augusta County Public School District
• NCES district ID: 5100300
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $53,562
• Composite: 53.02/100
• National rank: #1521
• State rank: #52 of 131 in VA

Livability — Craigsville

• Score: 60/100
• State rank: #431
• US rank: #18528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Craigsville, VA
• Population (ZIP): 3,300

Population outlook (Augusta County) Hauer SSP2

• Today (2025): 77,558 people
• By 2030: 78,389 · +1.1%
• By 2040: 78,629 · +1.4%
• By 2050: 77,171 · -0.5%
• By 2075: 74,455 · -4.0%
• By 2100: 65,077 · -16.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 30% Hispanic / Latino 5% Two or more races 3% Native American 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Augusta

• 2024 margin: Solid R (+47.5) · D 25.8% · R 73.3%
• 2008→2024 swing: -7.7pp toward R · 2008: -39.9pp · 2024: -47.5pp
• All cycles: 2024: R+47.5 2020: R+47.0 2016: R+49.2 2012: R+42.1 2008: R+39.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.43%
• Current HPI: 336.4087
• 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

+84.7% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $109,000 GAAR
• 2026-04-16 Price Changed $119,000 GAAR
• 2026-03-23 Listed $129,000 GAAR
• 2014-09-04 Sold (Public Records) $416,690 Public Records
• 2012-05-30 Sold (MLS) $85,000 GAAR
• 2011-07-25 Listed $99,900 GAAR
• 2007-04-13 Sold (Public Records) $59,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $568 · +0.0% YoY. Source: county tax records.