362 Rakes Ridge Rd · Haysi, VA 24220

$45,000

2 bd · 1.0 ba · 1,010 sqft · SingleFamily · 318 Days on market

Built 1960 Poor condition 4.91 ac lot $45/sqft · 76% below area

---

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 +5.1/10.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.3/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Looking for a home site to call your own? Perfect opportunity to own 4.91 on Rakes Ridge. Modified single wide trailer currently on site in poor condition or fixer for a good handy man, public water already on site.

Key facts

• 4.91 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 46/100 on livability (#560 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D, amenities F, commute F.
• Dickenson County Public School District (rural): math 59% / reading 66% proficiency, ranked #58 of 131 in VA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sandlick Elementary (math 57% / reading 52%, grade C, #650 of 1,108 statewide, top 62%, 376 students, 91% FRL); Ridgeview Middle (math 57% / reading 72%, grade A-, #123 of 342 statewide, top 37%, 440 students, 89% FRL); Ridgeview High (math 62% / reading 72%, grade B, #185 of 319 statewide, top 61%, 592 students, 89% FRL) — zoned schools average 90% FRL vs 52% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 2 active listings in the ZIP; 11 units permitted in Dickenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.0% local appreciation)).
• Dickenson County population projected at -30% 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 2.11% ✓
• Cap rate: 17.98%
• Cash-on-cash: 41.74%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $187,159
• List price: $45,000
• Delta: -75.96%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 47.2%
• Equity multiple: 3.65×
• Total profit: $33,347
• Equity at exit: $20,234

10-year hold

• IRR: 46.9%
• Equity multiple: 7.32×
• Total profit: $79,621
• Equity at exit: $31,183

Cash invested: $12,600 (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 24220

• Active inventory: 2
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $438

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 49%

Sensitivity live

Price	-10% $469	-5% $454	+0% $438	+5% $423	+10% $407
Rent	-10% $363	-5% $401	+0% $438	+5% $476	+10% $513
Rate	-1.0pp $461	-0.5pp $450	base $438	+0.5pp $427	+1.0pp $415

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $45,000 Active 318 DOM
2. 2026-06-21
   days on market $45,000 Active 317 DOM
3. 2026-06-18
   days on market $45,000 Active 315 DOM
4. 2026-06-17
   days on market $45,000 Active 314 DOM
5. 2026-06-16
   days on market $45,000 Active 313 DOM
6. 2026-06-15
   days on market $45,000 Active 312 DOM
7. 2026-06-15
   days on market $45,000 Active 311 DOM
8. 2026-06-13
   days on market $45,000 Active 310 DOM
9. 2026-06-12
   days on market $45,000 Active 309 DOM
10. 2026-06-09
    days on market $45,000 Active 306 DOM
11. 2026-06-08
    days on market $45,000 Active 305 DOM
12. 2026-06-08
    days on market $45,000 Active 304 DOM
13. 2026-06-03
    days on market $45,000 Active 300 DOM
14. 2026-06-02
    days on market $45,000 Active 299 DOM
15. 2026-06-01
    days on market $45,000 Active 298 DOM
16. 2026-05-31
    days on market $45,000 Active 297 DOM
17. 2026-02-06
    status Active 216-char remark

    Show marketing remark (216 chars)

    Looking for a home site to call your own? Perfect opportunity to own 4.91 on Rakes Ridge. Modified single wide trailer currently on site in poor condition or fixer for a good handy man, public water already on site.

18. 2026-01-12
    historical 216-char remark

    Show marketing remark (216 chars)

    Looking for a home site to call your own? Perfect opportunity to own 4.91 on Rakes Ridge. Modified single wide trailer currently on site in poor condition or fixer for a good handy man, public water already on site.

19. 2025-07-11
    listed $45,000 Active 216-char remark

    Show marketing remark (216 chars)

    Looking for a home site to call your own? Perfect opportunity to own 4.91 on Rakes Ridge. Modified single wide trailer currently on site in poor condition or fixer for a good handy man, public water already on site.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,381
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$1,309
• Taxable income: $4,830
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,100/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to bring it up to a livable condition. Immediate attention to exterior painting and interior updates is necessary to increase its value.

Repairs flagged

• Major exterior siding — Peeling paint
• Major kitchen cabinets — Damaged and cluttered
• Major bathroom walls — Pink walls and cluttered space
• Major flooring — Damaged carpet
• Major interior walls — Peeling paint

Value-add opportunities

• Both exterior painting — Improves curb appeal and resale value
• Both kitchen renovation — Modernizes space and increases rental value
• Both bathroom renovation — Modernizes space and increases resale value
• Both flooring replacement — Improves living space and increases resale value
• Both interior painting — Freshens up the interior and increases resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Peeling paint	Major	$15,000–50,000
kitchen cabinets · Damaged and cluttered	Major	$15,000–50,000
bathroom walls · Pink walls and cluttered space	Major	$15,000–50,000
flooring · Damaged carpet	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior painting — Improves curb appeal and resale value ↑
• Both kitchen renovation — Modernizes space and increases rental value ↑
• Both bathroom renovation — Modernizes space and increases resale value ↑
• Both flooring replacement — Improves living space and increases resale value ↑
• Both interior painting — Freshens up the interior and increases resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dickenson County Public School District
• NCES district ID: 5101140
• Math proficiency: 59% ▼ -31.00%
• Reading proficiency: 66% ▼ -17.00%
• Median HH income: $30,649
• Composite: 51.28/100
• National rank: #1749
• State rank: #58 of 131 in VA

Livability — Haysi

• Score: 46/100
• State rank: #560
• US rank: #26456

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,965
• Population (ZIP): 630

Population outlook (Dickenson County) Hauer SSP2

• Today (2025): 13,554 people
• By 2030: 12,680 · -6.4%
• By 2040: 11,016 · -18.7%
• By 2050: 9,562 · -29.5%
• By 2075: 6,712 · -50.5%
• By 2100: 4,554 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Russian 1%

Political lean MEDSL · Dickenson

• 2024 margin: Solid R (+62.2) · D 18.7% · R 80.9%
• 2008→2024 swing: -61.5pp toward R · 2008: -0.7pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+58.1 2016: R+56.2 2012: R+26.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

3 events — show timeline

• 2026-02-06 Relisted — TVRMLS
• 2026-01-12 Delisted — TVRMLS
• 2025-07-11 Listed $45,000 TVRMLS