867 Hite Dr · Clarksville, VA 24529

$285,000

4 bd · 1.0 ba · 1,800 sqft · SingleFamily · 50 Days on market

Built 1945 1.00 ac lot $158/sqft · 16% below area Est $339k · 16% under ↓ 5% since listing

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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).

• ARV discount +14.6/15.0
• Appreciation +6.4/10.0
• Cash flow +5.8/30.0
• Schools +5.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.2/10.0

Listing remarks MLS

OPEN SKIES AND ENDLESS BEAUTY. Set on a full acre across from the scenic rows of grapevines at Woodbine Vineyards, this property offers a sense of calm that's immediate and lasting. From every window, in every direction, you're met with peace and beauty—open skies, natural surroundings, and the kind of quiet that invites you to slow down and stay awhile. Completely updated and move-in ready, the home features a brand new kitchen with new appliances, an updated bathroom, and fresh interior and exterior paint throughout—creating a clean, modern feel while maintaining its original charm. Natural light fills the home, carrying those views throughout the living spaces and creating a warm, easy flow from room to room. The layout is both functional and flexible, with two bedrooms and a central bathroom on the main level, and two spacious bedrooms upstairs—ideal for guests, a home office, or additional living space—along with generous storage throughout. The kitchen offers ample space to cook and gather, complete with a large pantry. Just off the kitchen, the enclosed porch serves as a dedicated laundry and utility area with easy access to the backyard. A detached one-car garage provides additional storage or workshop potential, and the one-acre setting gives you room to enjoy the outdoors, garden, or simply take in the surrounding landscape. Whether you're looking for a full-time home or a weekend retreat, this property offers an easy escape—perfectly positioned near hiking, water, and the laid-back lifestyle of Kerr Lake, Virginia's largest lake. Originally built in 1945 and thoughtfully updated, the home blends classic character with fresh, modern living. Conveniently located just off Hwy 58, with easy access to Clarksville and nearby dining and recreation.

Key facts

• 1 acre lot
• Garage
• Built 1945

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-571 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (29.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (37.9% below list).
• Recommended offer: $177k (37.9% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 1.5% in Clarksville — 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 73/100 on livability (#179 in VA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 36 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.8% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 10 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.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,089 (37.9% 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. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.62% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.58%
• DSCR: 0.62
• GRM: 13.4

CMA / ARV

• ARV (median comp): $338,616
• List price: $285,000
• Delta: -15.83%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1085 Hite Dr	0.23mi	3/3.0 (-1)	1,800 (0%)	17mo	$484,600	$269	62

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

Projected returns pro-forma

2.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.93×
• Total profit: $-5,488
• Equity at exit: $124,417

10-year hold

• IRR: 3.0%
• Equity multiple: 1.45×
• Total profit: $35,873
• Equity at exit: $188,890

Cash invested: $79,800 (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 24529

• Home prices YoY: 1.5%
• Active inventory: 36
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$1,495
• Tax est. 1.5%: −$356 /mo · $4,275/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $-571

Break-even live

Break-even rent $2,493

Max offer price $202,438

Occupancy floor —

Sensitivity live

Price	-10% $-374	-5% $-472	+0% $-571	+5% $-669	+10% $-768
Rent	-10% $-710	-5% $-641	+0% $-571	+5% $-501	+10% $-431
Rate	-1.0pp $-427	-0.5pp $-498	base $-571	+0.5pp $-644	+1.0pp $-720

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $285,000 Active 50 DOM
2. 2026-06-17
   days on market $285,000 Active 49 DOM
3. 2026-06-16
   days on market $285,000 Active 48 DOM
4. 2026-06-15
   days on market $285,000 Active 47 DOM
5. 2026-06-14
   days on market $285,000 Active 45 DOM
6. 2026-06-13
   days on market $285,000 Active 44 DOM
7. 2026-06-10
   days on market $285,000 Active 42 DOM
8. 2026-06-09
   days on market $285,000 Active 41 DOM
9. 2026-06-08
   days on market $285,000 Active 40 DOM
10. 2026-06-07
    days on market $285,000 Active 39 DOM
11. 2026-06-05
    days on market $285,000 Active 36 DOM
12. 2026-06-03
    days on market $285,000 Active 35 DOM
13. 2026-06-02
    days on market $285,000 Active 34 DOM
14. 2026-06-01
    days on market $285,000 Active 33 DOM
15. 2026-05-31
    days on market $285,000 Active 32 DOM
16. 2026-05-31
    days on market $285,000 Active 31 DOM
17. 2026-05-02
    listed $285,000 Active 1812-char remark

    Show marketing remark (1812 chars)

    OPEN SKIES AND ENDLESS BEAUTY. Set on a full acre across from the scenic rows of grapevines at Woodbine Vineyards, this property offers a sense of calm that's immediate and lasting. From every window, in every direction, you're met with peace and beauty—open skies, natural surroundings, and the kind of quiet that invites you to slow down and stay awhile. Completely updated and move-in ready, the home features a brand new kitchen with new appliances, an updated bathroom, and fresh interior and exterior paint throughout—creating a clean, modern feel while maintaining its original charm. Natural light fills the home, carrying those views throughout the living spaces and creating a warm, easy flow from room to room. The layout is both functional and flexible, with two bedrooms and a central bathroom on the main level, and two spacious bedrooms upstairs—ideal for guests, a home office, or additional living space—along with generous storage throughout. The kitchen offers ample space to cook and gather, complete with a large pantry. Just off the kitchen, the enclosed porch serves as a dedicated laundry and utility area with easy access to the backyard. A detached one-car garage provides additional storage or workshop potential, and the one-acre setting gives you room to enjoy the outdoors, garden, or simply take in the surrounding landscape. Whether you're looking for a full-time home or a weekend retreat, this property offers an easy escape—perfectly positioned near hiking, water, and the laid-back lifestyle of Kerr Lake, Virginia's largest lake. Originally built in 1945 and thoughtfully updated, the home blends classic character with fresh, modern living. Conveniently located just off Hwy 58, with easy access to Clarksville and nearby dining and recreation.

18. 2026-04-30
    listed $285,000 Active 1058-char remark

    Show marketing remark (1058 chars)

    A distinctive home in a setting that stands out. Set on 1 acre directly across from beautiful rows of grapevines belonging to Woodbine Vineyards, this property offers a setting that feel like perfect country living. This lovely 4 bed home originally built in 1945 has been brilliantly updated. Newly painted throughout, gleaming hardwood floors in the main living areas and bedrooms, solid wood doors, wood burning fireplace and so much more. The layout is flexible, with two bedrooms and one central bathroom on the main level and two large bedrooms upstairs, along with generous storage. The kitchen is spacious, complete with a large pantry. The enclosed porch serves as a dedicated laundry area with added utility connecting to the backyard. Natural light fills the home, with views that carry through each room—especially toward the vineyard just across the road. A detached one-car garage provides additional storage or workspace. Conveniently located just off Hwy 58, with easy access to Clarksville, Kerr Lake, and nearby dining and recreation.

19. 2026-04-30
    listed $285,000 Active

    Show marketing remark (1058 chars)

    A distinctive home in a setting that stands out. Set on 1 acre directly across from beautiful rows of grapevines belonging to Woodbine Vineyards, this property offers a setting that feel like perfect country living. This lovely 4 bed home originally built in 1945 has been brilliantly updated. Newly painted throughout, gleaming hardwood floors in the main living areas and bedrooms, solid wood doors, wood burning fireplace and so much more. The layout is flexible, with two bedrooms and one central bathroom on the main level and two large bedrooms upstairs, along with generous storage. The kitchen is spacious, complete with a large pantry. The enclosed porch serves as a dedicated laundry area with added utility connecting to the backyard. Natural light fills the home, with views that carry through each room—especially toward the vineyard just across the road. A detached one-car garage provides additional storage or workspace. Conveniently located just off Hwy 58, with easy access to Clarksville, Kerr Lake, and nearby dining and recreation.

20. 2026-04-21
    historical $285,000
21. 2025-10-31
    price $345,000
22. 2025-10-02
    listed $350,000 Active
23. 2024-02-26
    soldstatus $285,000 Closed
24. 2024-02-09
    soldstatus $285,000 Closed
25. 2024-02-09
    soldstatus $285,000 Sold
26. 2023-12-09
    status Pending
27. 2023-12-09
    status Pending
28. 2023-12-09
    status Pending
29. 2023-12-01
    status Active
30. 2023-12-01
    status Active
31. 2023-12-01
    status Active
32. 2023-11-28
    status Pending
33. 2023-11-16
    status Pending
34. 2023-11-12
    status Pending
35. 2023-11-12
    historical Active Under Contract
36. 2023-10-19
    listed $300,000 Active
37. 2023-10-19
    listed $300,000 Active
38. 2023-10-17
    listed $300,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,251
• − Mortgage interest: −$15,964
• − Property taxes: −$4,275
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$8,291
• Taxable loss: −$12,105
• Est. tax savings @ 24.0%: +$2,905
• After-tax cash flow: $-3,942/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: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Clarksville

• Score: 73/100
• State rank: #179
• US rank: #5434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,197

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 32% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 3% Lithuanian 1% Scandinavian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.77%
• Current HPI: 187.5928
• 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

-5.0% since first listed

22 events — show timeline

• 2026-05-02 Listed $285,000 RVLG
• 2026-04-30 Listed $285,000 SCAR
• 2026-04-30 Listed $285,000 CVRMLS
• 2026-04-21 Coming Soon $285,000 CVRMLS
• 2025-10-31 Price Changed $345,000 SPLLAR
• 2025-10-02 Listed $350,000 SPLLAR
• 2024-02-26 Sold (MLS) $285,000 RVLG
• 2024-02-09 Sold (MLS) $285,000 TMLS
• 2024-02-09 Sold (MLS) $285,000 SPLLAR
• 2023-12-09 Pending — SPLLAR
• 2023-12-09 Pending — TMLS
• 2023-12-09 Pending — RVLG
• 2023-12-01 Relisted — RVLG
• 2023-12-01 Relisted — SPLLAR
• 2023-12-01 Relisted — TMLS
• 2023-11-28 Pending — TMLS
• 2023-11-16 Pending — TMLS
• 2023-11-12 Pending — RVLG
• 2023-11-12 Contingent — SPLLAR
• 2023-10-19 Listed $300,000 TMLS
• 2023-10-19 Listed $300,000 RVLG
• 2023-10-17 Listed $300,000 SPLLAR