240 High St · Dayton, VA 22821

$339,000

3 bd · 2.0 ba · 1,498 sqft · MultiFamily public records · 11 Days on market

Built 1920 10,454 sqft lot

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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 +15.1/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• DSCR +4.6/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Excellent investment opportunity in the town of Dayton. A one bedroom unit with one bath that has been fully renovated. And, a two-bedroom unit with 1 bath a deck, high ceilings, and some original hardwood floors. Tenants are month-to-month. Exceptional accessory building equipped with wood stove.

Key facts

• Fully renovated
• Wood stove
• Accessory building

Tags

• FULLY RENOVATED
• ACCESSORY BUILDING
• WOOD STOVE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Detached multi-family property
• Construction: Vinyl siding; Stone foundation; Composition shingle roof
• Exterior features: Deck; Public road frontage

Interior

• Bedrooms: One 2-bedroom unit; One 1-bedroom unit
• Flooring: Hardwood; Luxury vinyl plank
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric heating; Ductless cooling
• Interior features: Hardwood and luxury vinyl plank flooring; Exterior-entry basement
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $339k.

Deal economics

• At list price, monthly cash flow is $45 ($537/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 $269k (20.6% below list).
• Recommended offer: $269k (20.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#275 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: amenities F, commute F, health & safety D-.
• 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: 16 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $74k; list at $339k implies a 358% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $269,000 (20.6% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-52,205
• Equity at exit: $50,546

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-42,281
• Equity at exit: $29,311

Cash invested: $94,920 (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 22821

• Home prices YoY: -29.4%
• Active inventory: 16
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $2,690 medium
• Mortgage (P&I): −$1,778
• Tax from tax record: −$95 /mo · $1,139/yr
• Insurance: −$141
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $45

Break-even live

Break-even rent $2,633

Max offer price $339,000

Occupancy floor 93%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,276
1× unit	2	1	$1,414
Total (2 units)			$2,690

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
474 Diana Ct Rockingham, VA	3.0	2.5	1549	$2,300	$1.48	43d	1	1.33mi
3368 Marble LOOP Harrisonburg, VA	3.0	2.5	1710	$1,795	$1.05	43d	1	1.38mi
3407 Granite Rd , VA	3.0	2.5	1220	$2,250	$1.84	43d	1	1.41mi

Listing history 10 events

1. 2026-06-19
   days on market $339,000 Active 11 DOM
2. 2026-06-18
   days on market $339,000 Active 10 DOM
3. 2026-06-17
   days on market $339,000 Active 9 DOM
4. 2026-06-16
   days on market $339,000 Active 8 DOM
5. 2026-06-15
   days on market $339,000 Active 7 DOM
6. 2026-06-14
   days on market $339,000 Active 5 DOM
7. 2026-06-13
   days on market $339,000 Active 4 DOM
8. 2026-06-10
   days on market $339,000 Active 2 DOM
9. 2026-06-09
   remarks 298-char remark
10. 2026-06-09
    listed $339,000 Active 1 DOM

ⓘ 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: $1,139 · $95/mo
• Projected year-2 tax: $2,780 · $232/mo
• Expected delta: +$1,641/yr (+$137/mo · 144.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥102°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: $32,280
• − Mortgage interest: −$18,989
• − Property taxes: −$1,139
• − Insurance: −$2,492
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − Depreciation: −$9,862
• Taxable loss: −$5,367
• Est. tax savings @ 24.0%: +$1,288
• After-tax cash flow: $1,825/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 — Dayton

• Score: 68/100
• State rank: #275
• US rank: #9847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dayton, VA
• Population (ZIP): 6,074

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 2% Lithuanian 2% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -76.59%
• Current HPI: 184.0463
• 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

+358.1% since first listed

2 events — show timeline

• 2026-06-08 Listed $339,000 HRAR
• 1999-10-01 Sold (Public Records) $74,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,139 · +0.0% YoY. Source: county tax records.