203 Old Quarry Rd · Saltville, VA 24370

$89,000

2 bd · 1.0 ba · 764 sqft · SingleFamily public records · 17 Days on market

Built 1953 1.00 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +5.1/10.0
• Schools +4.5/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover your own peaceful retreat in Saltville! Situated on a beautiful, flat one-acre lot, 203 Old Quarry Road features a picturesque creek running right out front, offering the ultimate relaxing backdrop. This house was originally had 2 bedrooms and could easily be converted back. Peace of mind comes built-in with major recent updates, including a brand-new metal roof, new 70 gallon water heater, new siding, new flooring, a beautifully updated brand-new tile shower, and an included carport for covered parking. Inside, this cozy one-bedroom home boasts a surprisingly spacious living room, perfect for relaxing or entertaining. The home is equipped with dual heating options, featuring a se

Key facts

• New siding
• New flooring
• New water heater

Tags

• FLAT ONE-ACRE LOT
• PICTURESQUE CREEK
• BRAND-NEW METAL ROOF
• NEW WATER HEATER
• NEW SIDING
• NEW FLOORING

Property features AI

Finance

• Other: Zoning: R2; Lot size: 1 acre

Exterior

• Parking: Detached garage; 1 garage space; Carport
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer; Propane available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Metal roof; Crawl space foundation; Built as single family (year not provided)
• Exterior features: On waterfront (creek); Cleared lot; Level lot

Interior

• Kitchen: Electric oven; Refrigerator; Dishwasher not listed
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fan(s); Oil heating; Propane heating; Has cooling
• Interior features: Wood-burning fireplace; Security system; Smoke detectors
• Laundry & utility: Washer; Dryer; Propane utilities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $74 ($889/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 $84k (5.9% below list).
• Recommended offer: $84k (5.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#206 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Smyth County Public School District (rural): math 46% / reading 63% proficiency, ranked #89 of 131 in VA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Saltville Elementary (math 52% / reading 62%, grade C+, #597 of 1,108 statewide, top 57%, 195 students, 102% FRL); Northwood Middle (math 42% / reading 67%, grade B-, #194 of 342 statewide, top 60%, 151 students, 86% FRL); Northwood High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 240 students, 87% FRL) — zoned schools average 91% FRL vs 54% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 31 active listings in the ZIP; 38 units permitted in Smyth County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $875 of equity ($615 loan paydown + $260 appreciation (0.3% local appreciation)).
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,723 (5.9% below list)

Questions for the listing agent

1. Built in 1953 — 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: 0.94% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.13×
• Total profit: $3,341
• Equity at exit: $27,152

10-year hold

• IRR: 7.9%
• Equity multiple: 1.88×
• Total profit: $22,050
• Equity at exit: $33,701

Cash invested: $24,920 (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 24370

• Home prices YoY: 0.1%
• Active inventory: 31
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$17 /mo · $205/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $74

Break-even live

Break-even rent $743

Max offer price $89,000

Occupancy floor 86%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $89,000 Active 17 DOM
2. 2026-06-17
   days on market $89,000 Active 16 DOM
3. 2026-06-16
   days on market $89,000 Active 15 DOM
4. 2026-06-15
   days on market $89,000 Active 14 DOM
5. 2026-06-15
   days on market $89,000 Active 13 DOM
6. 2026-06-13
   days on market $89,000 Active 12 DOM
7. 2026-06-12
   days on market $89,000 Active 11 DOM
8. 2026-06-09
   days on market $89,000 Active 8 DOM
9. 2026-06-08
   pricedays on market $89,000 Active 7 DOM
10. 2026-06-08
    days on market $99,000 Active 6 DOM
11. 2026-06-07
    days on market $99,000 Active 5 DOM
12. 2026-06-03
    days on market $99,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $99,000 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: $205 · $17/mo
• Projected year-2 tax: $730 · $61/mo
• Expected delta: +$525/yr (+$44/mo · 256.5%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 21 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: $10,047
• − Mortgage interest: −$4,985
• − Property taxes: −$205
• − Insurance: −$1,242
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$2,589
• Taxable loss: −$582
• Est. tax savings @ 24.0%: +$140
• After-tax cash flow: $1,029/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: Smyth County Public School District
• NCES district ID: 5103520
• Math proficiency: 46% ▼ -38.00%
• Reading proficiency: 63% ▼ -14.00%
• Median HH income: $36,901
• Composite: 45.2/100
• National rank: #2672
• State rank: #89 of 131 in VA

Livability — Saltville

• Score: 72/100
• State rank: #206
• US rank: #6370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saltville, VA
• Population (ZIP): 5,740

Population outlook (Smyth County) Hauer SSP2

• Today (2025): 29,740 people
• By 2030: 28,593 · -3.9%
• By 2040: 26,091 · -12.3%
• By 2050: 23,629 · -20.5%
• By 2075: 18,365 · -38.2%
• By 2100: 13,697 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Smyth

• 2024 margin: Solid R (+60.5) · D 19.4% · R 79.9%
• 2008→2024 swing: -31.4pp toward R · 2008: -29.1pp · 2024: -60.5pp
• All cycles: 2024: R+60.5 2020: R+56.3 2016: R+55.2 2012: R+33.0 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.29%
• Current HPI: 218.7537
• 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

• 2026-05-29 Listed $99,000 SWVAR

Property tax history

+3.6%/yr

Latest (2025): $205 · +0.0% YoY. Source: county tax records.