2104 Exeter Rd · Appalachia, VA 24216

$42,500

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 43 Days on market

Built 1940 10,018 sqft lot $34/sqft · 58% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Appreciation +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located beside of the Imboden United Community Church and less than two miles to downtown Appalachia this home awaits its new family! The home has been remodeled to include vinyl siding, metal roof, new windows and an updated interior finishes! Make your appointment for a private showing today! Buyers and buyers agents to verify all information contained in this listing.

Key facts

• 0.23 acre lot
• Built 1940
• Listed 43 days

Property features AI

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Single-family house; Residential property; Fixer condition
• Construction: Vinyl siding; Metal roof; Concrete basement with interior and exterior entry; Built as a house
• Exterior features: Covered patio/porch; Storm door(s); Sloped lot; Zoned General Res

Interior

• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling; Has heating and cooling
• Interior features: Laminate counters; Double-pane windows; One fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#505 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Wise County Public School District (town): math 74% / reading 79% proficiency, ranked #11 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Union Primary (math 72% / reading 79%, grade A, #207 of 1,108 statewide, top 19%, 861 students, 84% FRL); Union Middle (math 58% / reading 70%, grade B+, #127 of 342 statewide, top 37%, 583 students, 89% FRL); Union High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 601 students, 86% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 17 units permitted in Wise County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wise County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $6k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1940 — 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 $41,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.62% ✓
• Cap rate: 23.82%
• Cash-on-cash: 62.58%
• DSCR: 3.78
• GRM: 3.2

CMA / ARV

• ARV (median comp): $101,705
• List price: $42,500
• Delta: -58.21%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 55.5%
• Equity multiple: 3.45×
• Total profit: $29,131
• Equity at exit: $6,337

10-year hold

• IRR: 60.5%
• Equity multiple: 7.04×
• Total profit: $71,830
• Equity at exit: $3,675

Cash invested: $11,900 (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 24216

• Home prices YoY: -3.3%
• Active inventory: 25
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,115 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$20 /mo · $239/yr
• Insurance: −$18
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $565

Break-even live

Break-even rent $400

Max offer price $42,500

Occupancy floor 44%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $42,500 Active 43 DOM
2. 2026-06-17
   days on market $42,500 Active 42 DOM
3. 2026-06-16
   days on market $42,500 Active 41 DOM
4. 2026-06-15
   days on market $42,500 Active 40 DOM
5. 2026-06-15
   days on market $42,500 Active 39 DOM
6. 2026-06-13
   days on market $42,500 Active 38 DOM
7. 2026-06-12
   days on market $42,500 Active 37 DOM
8. 2026-06-09
   days on market $42,500 Active 34 DOM
9. 2026-06-08
   days on market $42,500 Active 33 DOM
10. 2026-06-08
    days on market $42,500 Active 32 DOM
11. 2026-06-07
    days on market $42,500 Active 31 DOM
12. 2026-06-03
    days on market $42,500 Active 28 DOM
13. 2026-06-02
    days on market $42,500 Active 27 DOM
14. 2026-06-01
    days on market $42,500 Active 26 DOM
15. 2026-05-31
    days on market $42,500 Active 25 DOM
16. 2026-05-06
    listed $49,000 Active 358-char remark
17. 2019-02-25
    soldstatus $36,000 373-char remark

    Show marketing remark (373 chars)

    Located beside of the Imboden United Community Church and less than two miles to downtown Appalachia this home awaits its new family! The home has been remodeled to include vinyl siding, metal roof, new windows and an updated interior finishes! Make your appointment for a private showing today! Buyers and buyers agents to verify all information contained in this listing.

18. 2019-02-25
    soldstatus $36,000

    Show marketing remark (373 chars)

    Located beside of the Imboden United Community Church and less than two miles to downtown Appalachia this home awaits its new family! The home has been remodeled to include vinyl siding, metal roof, new windows and an updated interior finishes! Make your appointment for a private showing today! Buyers and buyers agents to verify all information contained in this listing.

19. 2018-03-12
    listed $39,900 373-char remark

    Show marketing remark (373 chars)

    Located beside of the Imboden United Community Church and less than two miles to downtown Appalachia this home awaits its new family! The home has been remodeled to include vinyl siding, metal roof, new windows and an updated interior finishes! Make your appointment for a private showing today! Buyers and buyers agents to verify all information contained in this listing.

ⓘ 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: $239 · $20/mo
• Projected year-2 tax: $349 · $29/mo
• Expected delta: +$109/yr (+$9/mo · 45.6%)

ⓘ 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) · 78% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥97°F today · 22 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: $13,384
• − Mortgage interest: −$2,381
• − Property taxes: −$239
• − Insurance: −$879
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$1,236
• Taxable income: $6,507
• Est. tax owed @ 24.0%: −$1,562
• After-tax cash flow: $5,219/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: Wise County Public School District
• NCES district ID: 5104080
• Math proficiency: 74% ▼ -20.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $35,624
• Composite: 63.37/100
• National rank: #625
• State rank: #11 of 131 in VA

Livability — Appalachia

• Score: 56/100
• State rank: #505
• US rank: #22417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,356

Population outlook (Wise County) Hauer SSP2

• Today (2025): 35,714 people
• By 2030: 33,742 · -5.5%
• By 2040: 29,870 · -16.4%
• By 2050: 26,233 · -26.5%
• By 2075: 18,296 · -48.8%
• By 2100: 12,147 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Black 5% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Wise

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -35.6pp toward R · 2008: -27.7pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+61.7 2016: R+62.0 2012: R+48.8 2008: R+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.82%
• Current HPI: 112.8878
• 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

+6.5% since first listed

5 events — show timeline

• 2026-05-27 Price Changed $42,500 TVRMLS
• 2026-05-06 Listed $49,000 TVRMLS
• 2019-02-25 Sold (Public Records) $36,000 Public Records
• 2019-02-25 Sold (MLS) $36,000 TVRMLS
• 2018-03-12 Listed $39,900 TVRMLS

Property tax history

+3.8%/yr

Latest (2025): $239 · +0.0% YoY. Source: county tax records.