422 S Washington Ave · Pulaski, VA 24301

$145,000

4 bd · 1.5 ba · 1,620 sqft · SingleFamily · 239 Days on market

Built 1928 0.30 ac lot $90/sqft · at area comps Est $139k · at est.

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +5.9/10.0
• ARV discount +5.5/15.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. In addition to being move-in ready, this home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

Key facts

• New heat pump
• Spacious front porch
• Newer metal roof

Tags

• NEWER METAL ROOF
• NEW HEAT PUMP
• SPACIOUS FRONT PORCH
• MINUTES TO INTERSTATE 81

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.5% in Pulaski — 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 67/100 on livability (#297 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 39 units permitted in Pulaski 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 $4k of value loss. Plan a longer hold.
• Pulaski County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• GRM: 7.6

CMA / ARV

• ARV (median comp): $138,900
• List price: $145,000
• Delta: 4.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 S Washington Ave	0.08mi	4/1.5	1,614 (-0%)	1mo	$167,000	$103	95
410 Draper Ave	0.25mi	4/2.0	1,584 (-2%)	1mo	$190,000	$120	82
224 Lagrange St	0.35mi	4/2.0	1,652 (+2%)	4mo	$200,000	$121	75
414 S Madison Ave	0.12mi	4/1.0	1,491 (-8%)	8mo	$160,000	$107	72
24 Second St SE	0.18mi	4/2.0	1,480 (-9%)	13mo	$31,000	$21	65
142 Lake St	0.45mi	3/1.5 (-1)	1,514 (-6%)	3mo	$194,300	$128	61
402 Draper Ave	0.25mi	4/3.0	1,694 (+5%)	17mo	$195,000	$115	61
534 Bunts St	0.46mi	4/2.0	1,611 (-1%)	21mo	$219,900	$136	58
315 Lake St	0.38mi	4/1.0	1,430 (-12%)	7mo	$165,000	$115	55
520 5th St SE	0.37mi	3/1.0 (-1)	1,476 (-9%)	10mo	$96,300	$65	52
518 Pine Aly	0.44mi	3/2.0 (-1)	1,400 (-14%)	0mo	$168,000	$120	49
109 Spruce St	0.40mi	3/1.0 (-1)	1,379 (-15%)	6mo	$33,500	$24	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,616
• Equity at exit: $21,620

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $22,403
• Equity at exit: $12,537

Cash invested: $40,600 (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 24301

• Active inventory: 114
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$49 /mo · $582/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $312

Break-even live

Break-even rent $1,185

Max offer price $145,000

Occupancy floor 75%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Pico Ter Pulaski, VA	3.0	1.0–2.0	882	$1,580	$1.79	44d	11	0.85mi

Listing history 31 events

1. 2026-06-19
   days on market $145,000 Active 239 DOM
2. 2026-06-18
   days on market $145,000 Active 238 DOM
3. 2026-06-17
   days on market $145,000 Active 237 DOM
4. 2026-06-16
   days on market $145,000 Active 236 DOM
5. 2026-06-15
   days on market $145,000 Active 235 DOM
6. 2026-06-14
   days on market $145,000 Active 233 DOM
7. 2026-06-13
   days on market $145,000 Active 232 DOM
8. 2026-06-10
   days on market $145,000 Active 230 DOM
9. 2026-06-09
   days on market $145,000 Active 229 DOM
10. 2026-06-08
    days on market $145,000 Active 228 DOM
11. 2026-06-07
    days on market $145,000 Active 227 DOM
12. 2026-06-05
    days on market $145,000 Active 224 DOM
13. 2026-06-02
    days on market $145,000 Active 222 DOM
14. 2026-06-01
    days on market $145,000 Active 221 DOM
15. 2026-05-31
    days on market $145,000 Active 220 DOM
16. 2026-05-30
    days on market $145,000 Active 219 DOM
17. 2026-04-05
    price $145,000 818-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

18. 2026-04-05
    price $145,000 782-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

19. 2025-12-31
    price $155,000 818-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

20. 2025-12-31
    price $155,000 782-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

21. 2025-10-23
    listed $175,000 Active 818-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

22. 2025-10-23
    listed $175,000 Active 782-char remark

    Show marketing remark (782 chars)

    Welcome to 422 S Washington Avenue! Conveniently located to all of the amenities of Historic Pulaski, Virginia, this charmingly, unique home is ready to call you its new owner! Upon stepping inside, you'll be greeted by a cozy living room made for those special memories with loved ones, four generously sized bedrooms offering endless space for the entire family, plus so much more! As you venture outside, you'll be delighted to find a newer metal roof offering durability for years to come and a spacious front porch perfect for sipping your morning coffee and taking in the joys of town life. This home is within minutes to Interstate 81, as well as a short drive to Claytor Lake State Park and The New River Trail. What more could you want? Schedule your private showing today!

23. 2022-04-20
    soldstatus $136,000
24. 2022-04-19
    soldstatus $136,000
25. 2022-04-19
    soldstatus $136,000 Closed
26. 2022-04-19
    soldstatus $136,000 Closed
27. 2022-03-04
    historical
28. 2022-03-04
    historical
29. 2021-11-09
    listed $134,900
30. 2021-11-09
    listed $134,900
31. 2021-11-09
    listed $134,900

ⓘ 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: $582 · $49/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$607/yr (+$51/mo · 104.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 8 d/yr ≥93°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: $18,960
• − Mortgage interest: −$8,122
• − Property taxes: −$582
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,218
• Taxable income: $1,481
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $3,393/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: Pulaski County Public School District
• NCES district ID: 5103150
• Math proficiency: 48% ▼ -31.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $44,912
• Composite: 45.98/100
• National rank: #2537
• State rank: #86 of 131 in VA

Livability — Pulaski

• Score: 67/100
• State rank: #297
• US rank: #10639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pulaski, VA
• Population (ZIP): 13,370

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 32,949 people
• By 2030: 31,812 · -3.5%
• By 2040: 29,224 · -11.3%
• By 2050: 26,691 · -19.0%
• By 2075: 21,312 · -35.3%
• By 2100: 15,697 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Italian 2% Iranian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+44.7) · D 27.3% · R 72.0%
• 2008→2024 swing: -25.1pp toward R · 2008: -19.5pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.5 2016: R+40.7 2012: R+24.8 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.98%
• Current HPI: 144.6556
• 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

+7.5% since first listed

15 events — show timeline

• 2026-04-05 Price Changed $145,000 SWVAR
• 2026-04-05 Price Changed $145,000 NRVMLS
• 2025-12-31 Price Changed $155,000 SWVAR
• 2025-12-31 Price Changed $155,000 NRVMLS
• 2025-10-23 Listed $175,000 SWVAR
• 2025-10-23 Listed $175,000 NRVMLS
• 2022-04-20 Sold (Public Records) $136,000 Public Records
• 2022-04-19 Sold (MLS) $136,000 MLSRV
• 2022-04-19 Sold (MLS) $136,000 NRVMLS
• 2022-04-19 Sold (MLS) $136,000 SWVAR
• 2022-03-04 Listing Removed — MLSRV
• 2022-03-04 Delisted — NRVMLS
• 2021-11-09 Listed $134,900 MLSRV
• 2021-11-09 Listed $134,900 SWVAR
• 2021-11-09 Listed $134,900 NRVMLS

Property tax history

+3.9%/yr

Latest (2026): $582 · +0.0% YoY. Source: county tax records.