680 Grommet Dr · Harrisonburg, VA 22801

$400,000

4 bd · 3.0 ba · 1,680 sqft · SingleFamily public records · 19 Days on market

Built 2023 Est $407k · at est.

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Why this score? — see what drove the D 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 +11.5/30.0
• ARV discount +8.2/15.0
• Schools +4.8/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 680 Grommet Drive & acirc; & euro; & rdquo; a beautifully maintained and move-in-ready home located in one of Harrisonburg & acirc; & euro; & trade; s fastest-growing and most desirable neighborhoods. This spacious 4-bedroom, 2.5-bath home offers the perfect combination of modern comfort, open-concept living, and everyday convenience. From the moment you walk in, you & acirc; & euro; & trade; ll love the bright natural light, clean finishes, and thoughtfully designed layout that feels both warm and functional. The main level features an open kitchen with a large center island, abundant cabinet space, and seamless flow into the dining and livin

Key facts

• Large center island
• Large backyard
• Open kitchen

Tags

• OPEN KITCHEN
• LARGE CENTER ISLAND
• ABUNDANT CABINET SPACE
• LARGE BACKYARD
• QUIET COMMUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (27.1% below list).
• Recommended offer: $292k (27.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.8% in Harrisonburg — 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 84/100 on livability (#24 in VA, #666 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-.
• Rockingham County Public School District (rural): math 47% / reading 64% proficiency, ranked #77 of 131 in VA (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mountain View Elementary (math 37% / reading 52%, grade F, #827 of 1,108 statewide, top 77%, 406 students, 53% FRL); Wilbur S. Pence Middle (math 46% / reading 64%, grade B-, #189 of 342 statewide, top 56%, 668 students, 39% FRL); Turner Ashby High (math 78% / reading 82%, grade A, #60 of 319 statewide, top 19%, 994 students, 35% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 196 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 683 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).
• At $2,917/mo this rent would consume 49% of the median local household income ($72k/yr) (locally 2712% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Rockingham County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Recommended offer $291,670 (27.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $406,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2015 Shoeshine Ave	0.09mi	4/2.5	1,680 (0%)	8mo	$415,000	$247	88
775 Wingtip Way	0.04mi	4/2.5	1,680 (0%)	12mo	$395,000	$235	87
2020 Shoeshine Ave	0.10mi	4/2.5	1,680 (0%)	9mo	$419,300	$250	86
2055 Tailor Dr	0.14mi	4/2.5	1,680 (0%)	19mo	$375,000	$223	76
2020 Russell Dr	0.31mi	4/2.5	1,686 (+0%)	15mo	$398,600	$236	70
785 Wingtip Way	0.03mi	4/2.5	1,903 (+13%)	7mo	$415,000	$218	68
570 Wingtip Way	0.16mi	3/2.5 (-1)	1,440 (-14%)	2mo	$370,000	$257	60
730 Wingtip Way	0.09mi	3/2.0 (-1)	1,440 (-14%)	13mo	$364,900	$253	52
830 Wingtip Way	0.06mi	3/2.5 (-1)	1,440 (-14%)	21mo	$369,000	$256	49
715 Wingtip Way	0.08mi	3/2.5 (-1)	1,440 (-14%)	23mo	$331,500	$230	46
1813 Willow Hill Dr	0.57mi	3/2.5 (-1)	1,667 (-1%)	23mo	$329,000	$197	46
540 Wingtip Way	0.17mi	3/2.5 (-1)	1,440 (-14%)	19mo	$349,000	$242	45

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-63,005
• Equity at exit: $59,641

10-year hold

• IRR: -2.3%
• Equity multiple: 0.82×
• Total profit: $-19,981
• Equity at exit: $34,585

Cash invested: $112,000 (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 22801

• Rents YoY: 6.5%
• Active inventory: 196
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,917 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$175 /mo · $2,099/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-135

Break-even live

Break-even rent $3,088

Max offer price $376,143

Occupancy floor 100%

Sensitivity live

Price	-10% $91	-5% $-22	+0% $-135	+5% $-248	+10% $-361
Rent	-10% $-365	-5% $-250	+0% $-135	+5% $-20	+10% $95
Rate	-1.0pp $66	-0.5pp $-33	base $-135	+0.5pp $-239	+1.0pp $-344

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 Buckle St , VA	2.0–4.0	2.5–3.5	1717	$3,196	$1.86	45d	23	0.23mi
207 Wakefield Pl Harrisonburg, VA	3.0	2.0	1314	$2,150	$1.64	45d	1	1.07mi
3039 John Wayland Hwy Dayton, VA	5.0	2.0	2248	$2,750	$1.22	45d	1	1.12mi
474 Diana Ct Rockingham, VA	3.0	2.5	1549	$2,300	$1.48	45d	1	1.34mi

Listing history 16 events

1. 2026-06-16
   status $400,000 Under Contract 19 DOM
2. 2026-06-15
   days on market $400,000 Active 19 DOM
3. 2026-06-14
   days on market $400,000 Active 17 DOM
4. 2026-06-13
   days on market $400,000 Active 16 DOM
5. 2026-06-10
   days on market $400,000 Active 14 DOM
6. 2026-06-09
   days on market $400,000 Active 13 DOM
7. 2026-06-08
   days on market $400,000 Active 12 DOM
8. 2026-06-07
   days on market $400,000 Active 11 DOM
9. 2026-06-05
   days on market $400,000 Active 8 DOM
10. 2026-06-03
    days on market $400,000 Active 7 DOM
11. 2026-06-02
    days on market $400,000 Active 6 DOM
12. 2026-06-01
    days on market $400,000 Active 5 DOM
13. 2026-05-31
    days on market $400,000 Active 4 DOM
14. 2026-05-30
    days on market $400,000 Active 3 DOM
15. 2026-05-28
    listed $400,000 Active
16. 2023-02-23
    listed $331,485

ⓘ 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: $2,099 · $175/mo
• Projected year-2 tax: $3,280 · $273/mo
• Expected delta: +$1,181/yr (+$98/mo · 56.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°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: $35,000
• − Mortgage interest: −$22,406
• − Property taxes: −$2,099
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − Depreciation: −$11,636
• Taxable loss: −$8,741
• Est. tax savings @ 24.0%: +$2,098
• After-tax cash flow: $477/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: Rockingham County Public School District
• NCES district ID: 5103390
• Math proficiency: 47% ▼ -36.00%
• Reading proficiency: 64% ▼ -12.00%
• Median HH income: $53,178
• Composite: 47.58/100
• National rank: #2264
• State rank: #77 of 131 in VA

Livability — Harrisonburg

• Score: 84/100
• State rank: #24
• US rank: #666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harrisonburg City · 70,357 people
• City population: 70,357
• Metro: Harrisonburg, VA
• Population (ZIP): 39,983
• Household income: $72,067
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 2712.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 83,435 people
• By 2030: 85,223 · +2.1%
• By 2040: 87,667 · +5.1%
• By 2050: 88,550 · +6.1%
• By 2075: 90,331 · +8.3%
• By 2100: 85,122 · +2.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 12% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 16% · Canada, South Korea, Vietnam
• Languages at home: 76% English-only · Spanish 15% Russian/Polish/Slavic 2% Arabic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+37.0) · D 30.9% · R 68.0% · Other 1.1%
• 2008→2024 swing: -1.0pp toward R · 2008: -36.0pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+40.4 2016: R+43.5 2012: R+40.6 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.01%
• Current HPI: 166.3265
• Rent YoY: ▲ 6.48%
• Metro: Harrisonburg, 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

+20.7% since first listed

2 events — show timeline

• 2026-05-28 Listed $400,000 FSBO.com
• 2023-02-23 Listed $331,485 HRAR

Property tax history

+0.0%/yr

Latest (2025): $2,099 · +0.0% YoY. Source: county tax records.