2241 Blue Ridge Springs Rd · Blue Ridge, VA 24064

$209,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 10 Days on market

Built 1950 5.32 ac lot

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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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +6.8/10.0
• 1% rule +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking to own over 5 acres of open and wooded land in much desired Blue Ridge are of Botetourt County, you'll want to see this 1-story , 3 BR, 1 BA with a large Eat-in-Kitchen, LR and Walkout basement. This home needs a handyman to restore it's original charm. Hardwood floors under carpet. Covered front porch. Fenced pasture with a seasonal branch and wooded area. * Please only enter property with your Realtor *

Key facts

• Covered front porch
• Walkout basement
• Large eat-in-kitchen

Tags

• OVER 5 ACRES
• OPEN AND WOODED LAND
• LARGE EAT-IN-KITCHEN
• WALKOUT BASEMENT
• HARDWOOD FLOORS
• COVERED FRONT PORCH

Property features AI

Exterior

• Utilities: Has heating (forced air oil)
• Home design: Residential property; Built in 1950
• Construction: Year built: 1950
• Exterior features: Front porch; Approximately 5.32-acre lot

Interior

• Bedrooms: Three bedrooms, all on the main level
• Flooring: Carpet; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air oil heating
• Interior features: Six total rooms; Carpet and wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Cap rate 8.4% vs local median 3.1% in Blue Ridge — 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 72/100 on livability (#200 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonial Elementary (math 82% / reading 82%, grade A+, #106 of 1,108 statewide, top 11%, 478 students, 40% FRL); Read Mountain Middle (math 75% / reading 82%, grade A+, #32 of 342 statewide, top 9%, 657 students, 35% FRL); Lord Botetourt High (math 83% / reading 92%, grade A, #15 of 319 statewide, top 4%, 980 students, 27% FRL).
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 116 units permitted in Botetourt 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 $6k of value loss. Plan a longer hold.
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.00% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-14,184
• Equity at exit: $31,163

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $12,921
• Equity at exit: $18,071

Cash invested: $58,520 (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 24064

• Active inventory: 43
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$87
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $309

Break-even live

Break-even rent $1,708

Max offer price $209,000

Occupancy floor 80%

Sensitivity live

Price	-10% $428	-5% $369	+0% $309	+5% $250	+10% $191
Rent	-10% $144	-5% $227	+0% $309	+5% $392	+10% $475
Rate	-1.0pp $415	-0.5pp $363	base $309	+0.5pp $255	+1.0pp $200

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3465 Webster Rd Blue Ridge, VA	3.0	1.0	1008	$2,100	$2.08	44d	1	1.28mi

Listing history 9 events

1. 2026-06-18
   days on market $209,000 Active 10 DOM
2. 2026-06-17
   days on market $209,000 Active 9 DOM
3. 2026-06-16
   days on market $209,000 Active 8 DOM
4. 2026-06-15
   days on market $209,000 Active 7 DOM
5. 2026-06-14
   days on market $209,000 Active 5 DOM
6. 2026-06-13
   days on market $209,000 Active 4 DOM
7. 2026-06-10
   days on market $209,000 Active 2 DOM
8. 2026-06-09
   remarks 417-char remark
9. 2026-06-09
   listed $209,000 Active 1 DOM

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,714 · $143/mo
• Expected delta: +$383/yr (+$32/mo · 28.8%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$11,707
• − Property taxes: −$1,331
• − Insurance: −$1,712
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$6,080
• Taxable income: $339
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $3,632/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: Botetourt County Public School District
• NCES district ID: 5100420
• Math proficiency: 76% ▼ -14.00%
• Reading proficiency: 82% ▼ -2.00%
• Median HH income: $63,125
• Composite: 68.07/100
• National rank: #355
• State rank: #6 of 131 in VA

Livability — Blue Ridge

• Score: 72/100
• State rank: #200
• US rank: #6182

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Ridge, VA
• Population (ZIP): 5,226

Population outlook (Botetourt County) Hauer SSP2

• Today (2025): 34,273 people
• By 2030: 34,457 · +0.5%
• By 2040: 34,051 · -0.6%
• By 2050: 32,841 · -4.2%
• By 2075: 30,720 · -10.4%
• By 2100: 26,395 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Romanian 3% Iranian 3% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam, South Korea
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Botetourt

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -33.2pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.5 2016: R+47.6 2012: R+38.6 2008: R+33.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.90%
• Current HPI: 160.6289
• 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

1 event — show timeline

• 2026-06-08 Listed $209,000 MLSRV

Property tax history

+14.6%/yr

Latest (2025): $1,331 · +0.0% YoY. Source: county tax records.