1704 Coles Knob Rd NE · Christiansburg, VA 24138

$89,100

2 bd · 1.0 ba · 1,487 sqft · SingleFamily public records · 37 Days on market

Built 1980 2.00 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

Key facts

• Deeded spring rights
• Wooded acres
• Log home

Tags

• LOG HOME
• WOODED ACRES
• DEEDED SPRING RIGHTS

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 $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Floyd County Public School District (rural): math 56% / reading 70% proficiency, ranked #51 of 131 in VA (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Check Elementary (math 42% / reading 57%, grade D, #742 of 1,108 statewide, top 70%, 292 students, 75% FRL); Floyd County High (math 59% / reading 74%, grade B, #195 of 319 statewide, top 62%, 701 students, 74% FRL) — zoned schools average 74% FRL vs 39% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 69 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($616 loan paydown + $1k appreciation (1.2% local appreciation)).
• Floyd County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask is 78% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $86,427 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.45% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.76%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.27×
• Total profit: $31,563
• Equity at exit: $31,579

10-year hold

• IRR: 26.9%
• Equity multiple: 4.31×
• Total profit: $82,637
• Equity at exit: $42,879

Cash invested: $24,948 (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 24138

• Home prices YoY: 0.8%
• Active inventory: 22
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,291 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$63 /mo · $761/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $452

Break-even live

Break-even rent $719

Max offer price $89,100

Occupancy floor 60%

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: $22,275
• Closing costs: $2,673
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-16
   status Pending 626-char remark

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

2. 2026-04-16
   status Pending 626-char remark

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

3. 2026-04-16
   status Pending

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

4. 2026-04-16
   price $89,100 626-char remark

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

5. 2026-04-16
   price $89,100

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

6. 2026-03-10
   listed Active 626-char remark

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

7. 2026-03-10
   listed $50,000 Active 626-char remark

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

8. 2026-03-10
   listed $50,000 Active

   Show marketing remark (626 chars)

   Auction Property: List price may not reflect final sales price. Online Auction ending April 15th at 4 PM. The property features a log home on 2 wooded acres. The structure was built in 1980, offering approximately 1,487 sq ft, 2 bedrooms, 1 bath and a full unfinished basement. A very accessible shared driveway from a paved state-maintained road. A spring serves as the water source for the log home. While the spring is not on the 2-acre property, deeded spring rights are of record and convey. The home will require some labor to get it back to where it needs to be. Take on the challenge and the possibilities are endless!

9. 2023-08-31
   soldstatus $94,600 Closed
10. 2023-08-31
    soldstatus $94,600 Closed
11. 2023-07-21
    status Pending
12. 2023-07-21
    status Pending
13. 2023-07-21
    price $94,600
14. 2023-06-26
    listed $60,000 Active
15. 2023-06-13
    listed $60,000 Active

ⓘ 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: $761 · $63/mo
• Projected year-2 tax: $761 · $63/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥92°F today · 16 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: $15,497
• − Mortgage interest: −$4,991
• − Property taxes: −$761
• − Insurance: −$446
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$2,592
• Taxable income: $4,228
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,414/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: Floyd County Public School District
• NCES district ID: 5101350
• Math proficiency: 56% ▼ -26.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $44,955
• Composite: 53.03/100
• National rank: #1519
• State rank: #51 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

• City population: 29,677
• Population (ZIP): 1,338

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 16,207 people
• By 2030: 16,340 · +0.8%
• By 2040: 16,267 · +0.4%
• By 2050: 15,661 · -3.4%
• By 2075: 13,756 · -15.1%
• By 2100: 11,078 · -31.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Black 1% Asian 1%
• Common ancestry: Slovak 4% Iranian 1% Portuguese 1%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+37.2) · D 30.8% · R 68.1% · Other 1.1%
• 2008→2024 swing: -17.2pp toward R · 2008: -20.0pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+34.2 2016: R+37.5 2012: R+25.4 2008: R+20.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.25%
• Current HPI: 153.1595
• 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

+48.5% since first listed

15 events — show timeline

• 2026-04-16 Pending — SWVAR
• 2026-04-16 Pending — NRVMLS
• 2026-04-16 Pending — MLSRV
• 2026-04-16 Price Changed $89,100 MLSRV
• 2026-04-16 Price Changed $89,100 NRVMLS
• 2026-03-10 Listed — SWVAR
• 2026-03-10 Listed $50,000 NRVMLS
• 2026-03-10 Listed $50,000 MLSRV
• 2023-08-31 Sold (MLS) $94,600 MLSRV
• 2023-08-31 Sold (MLS) $94,600 NRVMLS
• 2023-07-21 Pending — NRVMLS
• 2023-07-21 Pending — MLSRV
• 2023-07-21 Price Changed $94,600 MLSRV
• 2023-06-26 Listed $60,000 MLSRV
• 2023-06-13 Listed $60,000 NRVMLS

Property tax history

-1.4%/yr

Latest (2026): $761 · +0.0% YoY. Source: county tax records.