2274 Gingerbread Rd · Christiansburg, VA 24073

$199,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 16 Days on market

Built 1974 0.63 ac lot $189/sqft · 7% below area Est $214k · 7% under

---

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 +20.0/30.0
• ARV discount +10.5/15.0
• DSCR +6.3/10.0
• Schools +5.4/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3 bedroom 1 bath home tucked away in a peaceful wooded setting! This cozy property offers the perfect blend of privacy and functionality with a spacious deck ideal for relaxing, entertaining, or enjoying your morning coffee surrounded by nature. Step inside to a warm and inviting living area featuring durable flooring, neutral tones, and plenty of natural light. The open flow leads into a bright kitchen complete with ample cabinet space and a convenient layout for everyday living. All three bedrooms provide comfortable space and flexibility for family, guests, or a home office. The full bathroom is centrally located and designed for easy access. Outside, you’ll love the generous yard space with room to garden, play, or simply unwind. The deck and wooded backdrop create a private retreat feel while still being just a short drive to town amenities. This home offers comfort, value, and a serene setting you won’t want to miss!

Key facts

• Bright kitchen
• Wooded backdrop
• Spacious deck

Tags

• SPACIOUS DECK
• BRIGHT KITCHEN
• GENEROUS YARD SPACE
• WOODED BACKDROP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/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 $183k (8.5% below list).
• Recommended offer: $183k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.8% in Christiansburg — 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 81/100 on livability (#53 in VA, #1,452 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: amenities F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.1%/yr); 248 active listings in the ZIP; solid renter incomes; 323 units permitted in Montgomery 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.
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $113k; list at $200k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,841 (8.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.27%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (median comp): $214,157
• List price: $199,900
• Delta: -6.66%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2274 Gingerbread Rd	0.00mi	3/1.0	1,056 (0%)	0mo	$204,000	$193	100
2619 Den Hill Rd	0.63mi	3/2.0	1,080 (+2%)	5mo	$165,000	$153	59
1241 Cox Ln	0.59mi	3/1.0	960 (-9%)	14mo	$260,000	$271	46
662 Shooting Star Ln	0.58mi	2/2.0 (-1)	1,064 (+1%)	22mo	$325,000	$305	44
4385 Wayside Dr	0.66mi	3/1.0	912 (-14%)	22mo	$216,000	$237	28

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 · 1.05% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.64×
• Total profit: $-20,334
• Equity at exit: $29,806

10-year hold

• IRR: -3.4%
• Equity multiple: 0.79×
• Total profit: $-11,769
• Equity at exit: $17,284

Cash invested: $55,972 (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 24073

• Home prices YoY: -26.2%
• Rents YoY: 1.1%
• Active inventory: 248
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $246

Break-even live

Break-even rent $1,517

Max offer price $199,900

Occupancy floor 82%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-03
   status Pending 973-char remark

   Show marketing remark (973 chars)

   Welcome to this charming 3 bedroom 1 bath home tucked away in a peaceful wooded setting! This cozy property offers the perfect blend of privacy and functionality with a spacious deck ideal for relaxing, entertaining, or enjoying your morning coffee surrounded by nature. Step inside to a warm and inviting living area featuring durable flooring, neutral tones, and plenty of natural light. The open flow leads into a bright kitchen complete with ample cabinet space and a convenient layout for everyday living. All three bedrooms provide comfortable space and flexibility for family, guests, or a home office. The full bathroom is centrally located and designed for easy access. Outside, you’ll love the generous yard space with room to garden, play, or simply unwind. The deck and wooded backdrop create a private retreat feel while still being just a short drive to town amenities. This home offers comfort, value, and a serene setting you won’t want to miss!

2. 2026-04-23
   price $199,900 973-char remark

   Show marketing remark (973 chars)

   Welcome to this charming 3 bedroom 1 bath home tucked away in a peaceful wooded setting! This cozy property offers the perfect blend of privacy and functionality with a spacious deck ideal for relaxing, entertaining, or enjoying your morning coffee surrounded by nature. Step inside to a warm and inviting living area featuring durable flooring, neutral tones, and plenty of natural light. The open flow leads into a bright kitchen complete with ample cabinet space and a convenient layout for everyday living. All three bedrooms provide comfortable space and flexibility for family, guests, or a home office. The full bathroom is centrally located and designed for easy access. Outside, you’ll love the generous yard space with room to garden, play, or simply unwind. The deck and wooded backdrop create a private retreat feel while still being just a short drive to town amenities. This home offers comfort, value, and a serene setting you won’t want to miss!

3. 2026-04-17
   listed $215,000 Active 973-char remark

   Show marketing remark (973 chars)

   Welcome to this charming 3 bedroom 1 bath home tucked away in a peaceful wooded setting! This cozy property offers the perfect blend of privacy and functionality with a spacious deck ideal for relaxing, entertaining, or enjoying your morning coffee surrounded by nature. Step inside to a warm and inviting living area featuring durable flooring, neutral tones, and plenty of natural light. The open flow leads into a bright kitchen complete with ample cabinet space and a convenient layout for everyday living. All three bedrooms provide comfortable space and flexibility for family, guests, or a home office. The full bathroom is centrally located and designed for easy access. Outside, you’ll love the generous yard space with room to garden, play, or simply unwind. The deck and wooded backdrop create a private retreat feel while still being just a short drive to town amenities. This home offers comfort, value, and a serene setting you won’t want to miss!

4. 2022-02-17
   soldstatus $113,000 459-char remark

   Show marketing remark (459 chars)

   Conveniently located, this one level home has replacement windows, laminate flooring, newer hot water heater, and metal roof. Large deck at the rear of the home and a large storage building. This . 63 ac lot offers room to expand outdoor living. The covered front porch offers the perfect spot to enjoy a cup of java in the morning or to relax in the evenings. There is a leaf filter system on the gutters so don't worry about cleaning those gutters any more!

5. 2022-02-17
   soldstatus $113,000

   Show marketing remark (459 chars)

   Conveniently located, this one level home has replacement windows, laminate flooring, newer hot water heater, and metal roof. Large deck at the rear of the home and a large storage building. This . 63 ac lot offers room to expand outdoor living. The covered front porch offers the perfect spot to enjoy a cup of java in the morning or to relax in the evenings. There is a leaf filter system on the gutters so don't worry about cleaning those gutters any more!

6. 2022-01-11
   listed $109,900 459-char remark

   Show marketing remark (459 chars)

   Conveniently located, this one level home has replacement windows, laminate flooring, newer hot water heater, and metal roof. Large deck at the rear of the home and a large storage building. This . 63 ac lot offers room to expand outdoor living. The covered front porch offers the perfect spot to enjoy a cup of java in the morning or to relax in the evenings. There is a leaf filter system on the gutters so don't worry about cleaning those gutters any more!

7. 2008-09-15
   soldstatus $66,000

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$836/yr (+$70/mo · 104.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 18 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: $21,941
• − Mortgage interest: −$11,198
• − Property taxes: −$803
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$5,815
• Taxable loss: −$385
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $3,043/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: Montgomery County Public School District
• NCES district ID: 5102520
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 70% ▼ -11.00%
• Median HH income: $46,618
• Composite: 53.6/100
• National rank: #1440
• State rank: #47 of 131 in VA

Livability — Christiansburg

• Score: 81/100
• State rank: #53
• US rank: #1452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 78,218 people
• City population: 29,677
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 29,677
• Household income: $76,800
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 861.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 105,748 people
• By 2030: 110,301 · +4.3%
• By 2040: 115,652 · +9.4%
• By 2050: 119,651 · +13.1%
• By 2075: 126,005 · +19.2%
• By 2100: 129,771 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 4% Hispanic / Latino 4% Asian 3%
• Common ancestry: Italian 3% Slovak 3% Serbian 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2% Korean 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 50.9% · R 47.4% · Other 1.7%
• 2008→2024 swing: -1.4pp toward R · 2008: 4.9pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+5.8 2016: D+1.3 2012: R+0.2 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.98%
• Current HPI: 267.2504
• Rent YoY: ▲ 1.05%
• Metro: Blacksburg-Christiansburg, VA
• 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

+202.9% since first listed

7 events — show timeline

• 2026-05-03 Pending — NRVMLS
• 2026-04-23 Price Changed $199,900 NRVMLS
• 2026-04-17 Listed $215,000 NRVMLS
• 2022-02-17 Sold (Public Records) $113,000 Public Records
• 2022-02-17 Sold (MLS) $113,000 NRVMLS
• 2022-01-11 Listed $109,900 NRVMLS
• 2008-09-15 Sold (Public Records) $66,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $803 · +1.3% YoY. Source: county tax records.