356 Baker Island Rd · Fort Chiswell, VA 24360

$120,000

3 bd · 3.0 ba · 2,008 sqft · SingleFamily public records · 5 Days on market

Built 1974 3.00 ac lot

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Why this score? — see what drove the C 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +6.0/10.0
• 1% rule +5.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a country home with privacy and room to make it your own? This spacious home may be the one! Situated in a peaceful setting, this property offers plenty of potential and room to grow. The home is in need of some updating, but the size, layout, and possibilities make it a great opportunity. Inside, you'll find generous living space, an unfinished basement, and several additional flex rooms that could be used as a home office, playroom, hobby space, guest area, storage, or whatever best fits your needs. Bring your ideas and vision — this country property is ready for its next chapter! This property is located very near New River and the New river trail.

Key facts

• Unfinished basement
• Flex rooms
• 3 acre lot

Tags

• UNFINISHED BASEMENT
• FLEX ROOMS

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Private well water; Septic tank
• Home design: Manufactured single-family residence; One story
• Construction: Brick construction; Shingle roof
• Exterior features: Level lot

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating
• Interior features: Basement; Deck

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.4% vs local median 3.6% in Fort Chiswell — 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 56/100 on livability (#511 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime D+, amenities F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Jackson Memorial Elementary (math 57% / reading 67%, grade B, #480 of 1,108 statewide, top 46%, 212 students, 74% FRL); Fort Chiswell Middle (math 70% / reading 83%, grade A, #40 of 342 statewide, top 12%, 316 students, 74% FRL); Fort Chiswell High (math 52% / reading 72%, grade B-, #231 of 319 statewide, top 75%, 435 students, 73% FRL) — zoned schools average 74% FRL vs 41% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 50 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 8.2

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-5,769
• Equity at exit: $17,892

10-year hold

• IRR: 5.1%
• Equity multiple: 1.37×
• Total profit: $12,495
• Equity at exit: $10,375

Cash invested: $33,600 (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 24360

• Home prices YoY: -9.2%
• Active inventory: 50
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$67 /mo · $802/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $215

Break-even live

Break-even rent $944

Max offer price $120,000

Occupancy floor 77%

Sensitivity live

Price	-10% $283	-5% $249	+0% $215	+5% $181	+10% $147
Rent	-10% $119	-5% $167	+0% $215	+5% $263	+10% $311
Rate	-1.0pp $276	-0.5pp $246	base $215	+0.5pp $184	+1.0pp $153

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-10
   listed $120,000 Active

ⓘ 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: $802 · $67/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$182/yr (+$15/mo · 22.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 20 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: $14,603
• − Mortgage interest: −$6,722
• − Property taxes: −$802
• − Insurance: −$600
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$3,491
• Taxable income: $652
• Est. tax owed @ 24.0%: −$156
• After-tax cash flow: $2,426/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: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Fort Chiswell

• Score: 56/100
• State rank: #511
• US rank: #22932

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,647
• Population (ZIP): 5,647

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Black 1%
• Common ancestry: Italian 3% Serbian 1% Lithuanian 1%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.93%
• Current HPI: 186.8843
• 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

2 events — show timeline

• 2026-05-15 Pending — SWVAR
• 2026-05-10 Listed $120,000 SWVAR

Property tax history

+4.2%/yr

Latest (2025): $802 · +0.0% YoY. Source: county tax records.