5173 Indian Creek Rd · Cleveland, VA 24217

$175,000

3 bd · 2.0 ba · 1,680 sqft · Other public records · 9 Days on market

Built 2004 1.42 ac 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 +11.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks

Country living at its finest! This beautifully updated 3-bedroom, 2-bath home offers the perfect blend of comfort, charm, and functionality. Nestled in a peaceful setting, you'll love relaxing on the spacious front porch or unwinding in the sunroom, where abundant natural light and tranquil views of the charming creek create the perfect retreat. Inside, the home features a tastefully updated kitchen complete with modern appliances, along with attractive hardwood and tile flooring throughout. Two separate living areas provide plenty of space for entertaining, gathering with family, or creating a dedicated home office or hobby space. Outside, you'll find a large detached shop/garage offering

Key facts

• Hardwood flooring
• Sunroom
• Spacious front porch

Tags

• SPACIOUS FRONT PORCH
• SUNROOM
• UPDATED KITCHEN
• HARDWOOD FLOORING
• TILE FLOORING
• TWO SEPARATE LIVING AREAS

Property features AI

Exterior

• Utilities: Public water; Private sewer
• Home design: Single-family house; Residential property
• Construction: Vinyl siding
• Exterior features: Metal roof; Bottom land, cleared, level to sloped lot; Zoned residential

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Propane heating; Has cooling
• Interior features: Fireplace in den; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $-72 ($-870/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.5% below list).
• Recommended offer: $122k (30.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 49/100 on livability (#553 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Buchanan County Public School District (rural): math 52% / reading 65% proficiency, ranked #76 of 131 in VA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Council Elementary/Middle (math 52% / reading 67%, grade B-, #536 of 1,108 statewide, top 51%, 185 students, 89% FRL); Council High (math 74% / reading 84%, grade A-, #63 of 319 statewide, top 22%, 119 students, 98% FRL) — zoned schools average 93% FRL vs 62% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 12 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Buchanan County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $121,618 (30.5% 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. 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. 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?
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: 0.69% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• GRM: 12.0

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: 5.8%
• Equity multiple: 1.33×
• Total profit: $16,376
• Equity at exit: $78,688

10-year hold

• IRR: 8.7%
• Equity multiple: 2.32×
• Total profit: $64,670
• Equity at exit: $121,267

Cash invested: $49,000 (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 24217

• Active inventory: 4
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-72

Break-even live

Break-even rent $1,308

Max offer price $162,199

Occupancy floor —

Sensitivity live

Price	-10% $27	-5% $-23	+0% $-72	+5% $-122	+10% $-172
Rent	-10% $-169	-5% $-121	+0% $-72	+5% $-24	+10% $24
Rate	-1.0pp $16	-0.5pp $-28	base $-72	+0.5pp $-118	+1.0pp $-164

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $175,000 Active 9 DOM
2. 2026-06-21
   days on market $175,000 Active 8 DOM
3. 2026-06-18
   days on market $175,000 Active 6 DOM
4. 2026-06-17
   days on market $175,000 Active 5 DOM
5. 2026-06-16
   days on market $175,000 Active 4 DOM
6. 2026-06-15
   days on market $175,000 Active 3 DOM
7. 2026-06-15
   days on market $175,000 Active 2 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $175,000 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: $511 · $43/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$924/yr (+$77/mo · 180.7%)

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

Taxation est. · year 1

• Rental income: $14,594
• − Mortgage interest: −$9,803
• − Property taxes: −$511
• − Insurance: −$875
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$5,091
• Taxable loss: −$4,021
• Est. tax savings @ 24.0%: +$965
• After-tax cash flow: $95/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: Buchanan County Public School District
• NCES district ID: 5100510
• Math proficiency: 52% ▼ -27.00%
• Reading proficiency: 65% ▼ -7.00%
• Median HH income: $29,669
• Composite: 47.84/100
• National rank: #2221
• State rank: #76 of 131 in VA

Livability — Cleveland

• Score: 49/100
• State rank: #553
• US rank: #25918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 426

Population outlook (Buchanan County) Hauer SSP2

• Today (2025): 20,160 people
• By 2030: 18,734 · -7.1%
• By 2040: 16,071 · -20.3%
• By 2050: 13,815 · -31.5%
• By 2075: 10,376 · -48.5%
• By 2100: 8,432 · -58.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 6%

Political lean MEDSL · Buchanan

• 2024 margin: Solid R (+70.6) · D 14.5% · R 85.1%
• 2008→2024 swing: -65.1pp toward R · 2008: -5.5pp · 2024: -70.6pp
• All cycles: 2024: R+70.6 2020: R+67.6 2016: R+60.4 2012: R+34.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-06-12 Listed $175,000 TVRMLS

Property tax history

+7.1%/yr

Latest (2025): $511 · +0.0% YoY. Source: county tax records.