394 Ridge Rd · Fairfield, VA 24435

$169,999

2 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 41 Days on market

Built 1900 2.02 ac lot $139/sqft · 47% below area Est $315k · 46% under ↓ 24% since listing

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• Appreciation +5.5/10.0
• Schools +4.7/10.0
• 1% rule +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

A special home with endless potential in beautiful Fairfield! Situated on approximately 2 acres, this property offers the perfect opportunity for buyers looking to restore, renovate, or create their dream country retreat. The home is livable but in need of updates and repairs, making it ideal for investors, flippers, or handy buyers ready to build equity. Enjoy the peaceful setting, views, and privacy while still being conveniently located to Lexington, Staunton, and I-81. Features include solid square footage, a functional layout, and plenty of outdoor space for gardening, recreation, or future improvements. With the right vision, this property could truly shine again. Bring your ideas and

Key facts

• Solid square footage
• Functional layout
• 2.02 acre lot

Tags

• APPROXIMATELY 2 ACRES
• SOLID SQUARE FOOTAGE
• FUNCTIONAL LAYOUT
• PLENTY OF OUTDOOR SPACE

Property features AI

Finance

• Other: Contains a partial, unfinished basement; Below-grade unfinished area and additional above-grade unfinished space; Total building area about 2,134 square feet

Exterior

• Security: Surveillance system
• Utilities: Private well water; Conventional sewer; Fiber optic available
• Home design: Detached single-family home; One-and-a-half stories; Entry on main level
• Construction: Stick-built construction; Block foundation; Built with architectural roofing
• Exterior features: Covered front porch, side porch and patio; Architectural roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Window air conditioning units
• Interior features: Primary bedroom on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $258 ($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 $162k (4.6% below list).
• Recommended offer: $162k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 1.8% in Fairfield — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Rockbridge County Public School District (town): math 43% / reading 67% proficiency, ranked #80 of 131 in VA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fairfield Elementary (math 47% / reading 52%, grade D, #742 of 1,108 statewide, top 70%, 235 students, 75% FRL); Rockbridge County High (math 52% / reading 82%, grade B, #185 of 319 statewide, top 61%, 994 students, 66% FRL) — zoned schools average 71% FRL vs 37% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 85 units permitted in Rockbridge County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (0.9% local appreciation)).
• Rockbridge County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $162,153 (4.6% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 5% 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. 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: 0.95% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 8.7

CMA / ARV

• ARV (median comp): $315,296
• List price: $169,999
• Delta: -46.08%
• Verdict: UNDERPRICED
• Comps: 18 within 2.0 mi

Projected returns pro-forma

0.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.40×
• Total profit: $19,054
• Equity at exit: $57,509

10-year hold

• IRR: 12.0%
• Equity multiple: 2.45×
• Total profit: $68,796
• Equity at exit: $76,020

Cash invested: $47,600 (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 24435

• Home prices YoY: 0.5%
• Active inventory: 18
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$61 /mo · $727/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $258

Break-even live

Break-even rent $1,295

Max offer price $169,999

Occupancy floor 79%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $169,999 Active 41 DOM
2. 2026-06-17
   days on market $169,999 Active 40 DOM
3. 2026-06-16
   days on market $169,999 Active 39 DOM
4. 2026-06-15
   days on market $169,999 Active 38 DOM
5. 2026-06-14
   days on market $169,999 Active 36 DOM
6. 2026-06-10
   days on market $169,999 Active 33 DOM
7. 2026-06-09
   days on market $169,999 Active 32 DOM
8. 2026-06-08
   days on market $169,999 Active 31 DOM
9. 2026-06-07
   days on market $169,999 Active 30 DOM
10. 2026-06-03
    days on market $169,999 Active 26 DOM
11. 2026-06-03
    price $169,999 Active 25 DOM
12. 2026-06-02
    days on market $174,900 Active 25 DOM
13. 2026-06-01
    days on market $174,900 Active 24 DOM
14. 2026-05-31
    days on market $174,900 Active 23 DOM
15. 2026-05-31
    days on market $174,900 Active 22 DOM
16. 2026-05-06
    listed $174,900 Active 805-char remark
17. 2026-03-23
    status Pending
18. 2026-03-11
    price $170,000
19. 2026-03-08
    price $189,000
20. 2026-02-20
    listed $199,000 Active
21. 2022-01-20
    historical
22. 2021-11-22
    listed $229,900
23. 2016-07-06
    listed $159,900
24. 2015-06-30
    historical
25. 2014-01-04
    listed $225,000
26. 2014-01-03
    listed $225,000

ⓘ 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: $727 · $61/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$667/yr (+$56/mo · 91.7%)

ⓘ 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 4 d/yr ≥100°F today · 11 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: $19,458
• − Mortgage interest: −$9,523
• − Property taxes: −$727
• − Insurance: −$850
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$4,945
• Taxable income: $300
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $3,025/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: Rockbridge County Public School District
• NCES district ID: 5103370
• Math proficiency: 43% ▼ -41.00%
• Reading proficiency: 67% ▼ -12.00%
• Median HH income: $48,021
• Composite: 46.65/100
• National rank: #2408
• State rank: #80 of 131 in VA

Livability — Fairfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,666

Population outlook (Rockbridge County) Hauer SSP2

• Today (2025): 22,549 people
• By 2030: 22,381 · -0.7%
• By 2040: 21,488 · -4.7%
• By 2050: 20,054 · -11.1%
• By 2075: 16,228 · -28.0%
• By 2100: 11,598 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 2% Native American 1%
• Common ancestry: Serbian 4% Portuguese 4% Slovak 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Rockbridge

• 2024 margin: Solid R (+33.8) · D 32.6% · R 66.4%
• 2008→2024 swing: -20.2pp toward R · 2008: -13.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+32.4 2016: R+29.6 2012: R+17.8 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.94%
• Current HPI: 182.0419
• 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

-24.4% since first listed

12 events — show timeline

• 2026-06-02 Price Changed $169,999 GAAR
• 2026-05-06 Listed $174,900 GAAR
• 2026-03-23 Pending — GAAR
• 2026-03-11 Price Changed $170,000 GAAR
• 2026-03-08 Price Changed $189,000 GAAR
• 2026-02-20 Listed $199,000 GAAR
• 2022-01-20 Listing Removed — MLSRV
• 2021-11-22 Listed $229,900 MLSRV
• 2016-07-06 Listed $159,900 GAAR
• 2015-06-30 Listing Removed — CAAR
• 2014-01-04 Listed $225,000 CAAR
• 2014-01-03 Listed $225,000 GAAR

Property tax history

-4.8%/yr

Latest (2025): $727 · -34.4% YoY. Source: county tax records.