139 W Main St · Fries, VA 24330

$130,000

3 bd · 2.0 ba · 1,180 sqft · SingleFamily public records · 43 Days on market

Built 1900 4,792 sqft lot $110/sqft · at area comps Est $135k · 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 +17.2/30.0
• ARV discount +9.2/15.0
• Appreciation +9.1/10.0
• Schools +5.9/10.0
• DSCR +5.4/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 139 Main Street in the charming river town of Fries, VA—where small-town character meets outdoor adventure. This 3-bedroom, 2-bath home offers the opportunity to own a piece of local history, originally built in 1900 and full of classic mill house charm. Located just a short walk to the New River, the property features a peek-a-boo river view and convenient access to fishing, kayaking, biking, and the New River Trail. Fries is known for its bluegrass heritage and scenic surroundings, making it a desirable destination for both residents and visitors. The home has been used as a rental and offers updated electrical and plumbing, blending modern improvements with original character. Off-street parking is available behind the home, providing added convenience in a town where street parking is limited. This property offers flexibility for a variety of uses including a full-time residence, weekend retreat, or rental.

Key facts

• Updated electrical
• Off-street parking
• Updated plumbing

Tags

• PEEK-A-BOO RIVER VIEW
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• OFF-STREET PARKING
• CONVENIENT ACCESS TO FISHING
• CONVENIENT ACCESS TO KAYAKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $108k (17.1% below list).
• Recommended offer: $108k (17.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#416 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, amenities F, commute F.
• Grayson County Public School District (rural): math 68% / reading 76% proficiency, ranked #27 of 131 in VA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Fries Elementary (math 62% / reading 77%, grade A-, #313 of 1,108 statewide, top 32%, 253 students, 87% FRL); Independence Middle (math 60% / reading 73%, grade A-, #107 of 342 statewide, top 33%, 262 students, 88% FRL); Grayson County High (math 82% / reading 82%, grade A, #40 of 319 statewide, top 15%, 465 students, 87% FRL) — zoned schools average 87% FRL vs 53% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 33 active listings in the ZIP; 38 units permitted in Grayson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($899 loan paydown + $11k appreciation (8.2% local appreciation)).
• Grayson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $130k implies a 603% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,806 (17.1% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
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: 0.83% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (median comp): $135,236
• List price: $130,000
• Delta: -3.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Middle St	0.14mi	3/2.0	1,230 (+4%)	8mo	$218,000	$177	80
101 Vine	0.21mi	2/2.0 (-1)	1,144 (-3%)	4mo	$200,000	$175	76
1886 Other	0.19mi	2/1.0 (-1)	1,100 (-7%)	20mo	$30,000	$27	54

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

Projected returns pro-forma

8.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.67×
• Total profit: $60,651
• Equity at exit: $100,142

10-year hold

• IRR: 20.6%
• Equity multiple: 5.71×
• Total profit: $171,529
• Equity at exit: $200,110

Cash invested: $36,400 (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 24330

• Home prices YoY: 4.0%
• Active inventory: 33
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$24 /mo · $283/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $92

Break-even live

Break-even rent $961

Max offer price $130,000

Occupancy floor 86%

Sensitivity live

Price	-10% $166	-5% $129	+0% $92	+5% $55	+10% $-137
Rent	-10% $7	-5% $50	+0% $92	+5% $135	+10% $177
Rate	-1.0pp $158	-0.5pp $125	base $92	+0.5pp $59	+1.0pp $24

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-31
   status $130,000 Pending 43 DOM
2. 2026-04-17
   listed $130,000 Active 941-char remark

   Show marketing remark (941 chars)

   Welcome to 139 Main Street in the charming river town of Fries, VA—where small-town character meets outdoor adventure. This 3-bedroom, 2-bath home offers the opportunity to own a piece of local history, originally built in 1900 and full of classic mill house charm. Located just a short walk to the New River, the property features a peek-a-boo river view and convenient access to fishing, kayaking, biking, and the New River Trail. Fries is known for its bluegrass heritage and scenic surroundings, making it a desirable destination for both residents and visitors. The home has been used as a rental and offers updated electrical and plumbing, blending modern improvements with original character. Off-street parking is available behind the home, providing added convenience in a town where street parking is limited. This property offers flexibility for a variety of uses including a full-time residence, weekend retreat, or rental.

3. 2006-03-21
   soldstatus $18,500

ⓘ 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: $283 · $24/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$783/yr (+$65/mo · 276.9%)

ⓘ 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 8 d/yr ≥93°F today · 22 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: $12,937
• − Mortgage interest: −$7,282
• − Property taxes: −$283
• − Insurance: −$650
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$3,782
• Taxable loss: −$1,130
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $1,378/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: Grayson County Public School District
• NCES district ID: 5101690
• Math proficiency: 68% ▼ -20.00%
• Reading proficiency: 76% ▼ -7.00%
• Median HH income: $31,429
• Composite: 59.22/100
• National rank: #942
• State rank: #27 of 131 in VA

Livability — Fries

• Score: 61/100
• State rank: #416
• US rank: #17459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fries, VA
• Population (ZIP): 2,870

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 14,252 people
• By 2030: 13,634 · -4.3%
• By 2040: 12,202 · -14.4%
• By 2050: 10,811 · -24.1%
• By 2075: 8,069 · -43.4%
• By 2100: 5,647 · -60.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 1% Slovak 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+62.2) · D 18.6% · R 80.8%
• 2008→2024 swing: -33.7pp toward R · 2008: -28.5pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+61.4 2016: R+57.7 2012: R+37.9 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.16%
• Current HPI: 213.619
• 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

+602.7% since first listed

2 events — show timeline

• 2026-04-17 Listed $130,000 SWVAR
• 2006-03-21 Sold (Public Records) $18,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $283 · -25.9% YoY. Source: county tax records.