340 Ola Dr · Jonesville, VA 24263

$79,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 2 Days on market

Built 1995 0.50 ac lot Est $157k · 50% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Appreciation +8.5/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Looking for a breath taking view? This home has an incredible view! It comes with a nice yard, 3 bedrooms and 2 full bathrooms, living room, kitchen that extends to dining area, nice laundry room, and porch across the front with a wheelchair ramp. This home also has all kitchen appliances plus washer and dryer. There is a storage shed on property also that will stay. This home is being sold 'AS IS' It is close to shopping, churches, park and more yet has a country setting.

Key facts

• Kitchen appliances
• Country setting
• Storage shed

Tags

• INCREDIBLE VIEW
• NICE YARD
• KITCHEN APPLIANCES
• STORAGE SHED
• WHEELCHAIR RAMP
• COUNTRY SETTING

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Septic tank
• Home design: Detached property; Single-family style; 1,344 building area (per tax records)
• Construction: Vinyl siding; Other construction materials; Crawl space foundation
• Exterior features: Storage structure; Rolling slope lot; Mountain view; Country setting

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat; Heat pump; Propane heating option; Electric heating option; Central cooling
• Interior features: Eat-in kitchen; 5 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).

Location & tenants

• Location reads 62/100 on livability (#397 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, schools B+; Watch: amenities F, commute F, employment F.
• Lee County Public School District (rural): math 53% / reading 69% proficiency, ranked #62 of 131 in VA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 48 active listings in the ZIP; 18 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($546 loan paydown + $5k appreciation (7.0% local appreciation)).
• Lee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $5k; list at $79k implies a 1480% gain — meaningful room to come down on a strong offer.

Recommended offer $79,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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.
4. 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.
5. 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: 1.46% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.93%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $157,248
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Moody Dr	0.54mi	3/1.0	1,248 (-7%)	18mo	$132,000	$106	44
380 Richmond St	0.67mi	4/1.0 (+1)	1,408 (+5%)	20mo	$165,000	$117	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.3%
• Equity multiple: 3.45×
• Total profit: $54,272
• Equity at exit: $54,507

10-year hold

• IRR: 33.0%
• Equity multiple: 7.22×
• Total profit: $137,594
• Equity at exit: $103,325

Cash invested: $22,120 (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 24263

• Home prices YoY: 3.3%
• Active inventory: 48
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$44 /mo · $524/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $423

Break-even live

Break-even rent $621

Max offer price $79,000

Occupancy floor 58%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $79,000 Active
3. 2026-03-05
   price $69,900
4. 1994-07-14
   soldstatus $5,000

ⓘ 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: $524 · $44/mo
• Projected year-2 tax: $648 · $54/mo
• Expected delta: +$123/yr (+$10/mo · 23.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,878
• − Mortgage interest: −$4,425
• − Property taxes: −$524
• − Insurance: −$395
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$2,298
• Taxable income: $4,015
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $4,109/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: Lee County Public School District
• NCES district ID: 5102190
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -9.00%
• Median HH income: $31,356
• Composite: 50.06/100
• National rank: #1913
• State rank: #62 of 131 in VA

Livability — Jonesville

• Score: 62/100
• State rank: #397
• US rank: #16359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,661

Population outlook (Lee County) Hauer SSP2

• Today (2025): 22,861 people
• By 2030: 21,701 · -5.1%
• By 2040: 19,188 · -16.1%
• By 2050: 16,619 · -27.3%
• By 2075: 11,795 · -48.4%
• By 2100: 8,290 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lee

• 2024 margin: Solid R (+72.0) · D 13.8% · R 85.8%
• 2008→2024 swing: -43.8pp toward R · 2008: -28.2pp · 2024: -72.0pp
• All cycles: 2024: R+72.0 2020: R+69.1 2016: R+63.2 2012: R+44.4 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.95%
• Current HPI: 218.0947
• 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

+1480.0% since first listed

4 events — show timeline

• 2026-05-21 Pending — Knoxville MLS
• 2026-05-18 Listed $79,000 Knoxville MLS
• 2026-03-05 Price Changed $69,900 TVRMLS
• 1994-07-14 Sold (Public Records) $5,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $524 · +36.3% YoY. Source: county tax records.