3823 Hoot Owl Rd · Grundy, VA 24614

$85,000

3 bd · 1.0 ba · 1,307 sqft · Other public records · 8 Days on market

Built 1948 6.23 ac lot

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Appreciation +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Nestled just outside the Town of Grundy, VA, this charming 2-bedroom home offers additional flexibility with 2 bonus rooms that could easily serve as bedrooms, office space, hobby rooms, or guest areas. Featuring a separate dining area and 1 full bath, this property provides plenty of room to make your own. Situated on approximately 6.23 acres, you'll enjoy the peaceful setting and added privacy of country living while still being conveniently located nearby town amenities. Outside, you'll find a quaint detached outbuilding full of potential — perfect for extra storage, an art studio, workshop, small Airbnb, or countless other possibilities. Whether you're looking for your next home,

Key facts

• Country living
• 6.23 acres
• Bonus rooms

Tags

• BONUS ROOMS
• SEPARATE DINING AREA
• DETACHED OUTBUILDING
• 6.23 ACRES
• COUNTRY LIVING

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story
• Construction: Vinyl siding
• Exterior features: Shingle roof; Irregular, sloped, wooded lot

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump
• Interior features: Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 67/100 on livability (#309 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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: Riverview Elementary/Middle (math 49% / reading 60%, grade C, #650 of 1,108 statewide, top 62%, 750 students, 88% FRL); Grundy High (math 77% / reading 72%, grade B+, #107 of 319 statewide, top 37%, 355 students, 97% FRL) — zoned schools average 92% FRL vs 62% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 12 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1948 — 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. 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: 1.38% ✓
• Cap rate: 11.05%
• Cash-on-cash: 17.00%
• DSCR: 1.76
• GRM: 6.1

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: 1.18×
• Total profit: $4,219
• Equity at exit: $12,674

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $26,985
• Equity at exit: $7,349

Cash invested: $23,800 (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 24614

• Home prices YoY: -3.0%
• Active inventory: 28
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $282

Break-even live

Break-even rent $814

Max offer price $85,000

Occupancy floor 71%

Sensitivity live

Price	-10% $340	-5% $311	+0% $282	+5% $252	+10% $223
Rent	-10% $189	-5% $235	+0% $282	+5% $328	+10% $374
Rate	-1.0pp $324	-0.5pp $303	base $282	+0.5pp $260	+1.0pp $237

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $85,000 Active 8 DOM
2. 2026-06-18
   days on market $85,000 Active 6 DOM
3. 2026-06-17
   days on market $85,000 Active 5 DOM
4. 2026-06-16
   days on market $85,000 Active 4 DOM
5. 2026-06-15
   days on market $85,000 Active 3 DOM
6. 2026-06-15
   days on market $85,000 Active 2 DOM
7. 2026-06-12
   remarks 693-char remark
8. 2026-06-12
   listed $85,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,045
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$1,092
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$2,473
• Taxable income: $2,197
• Est. tax owed @ 24.0%: −$527
• After-tax cash flow: $2,853/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 — Grundy

• Score: 67/100
• State rank: #309
• US rank: #11111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grundy, VA
• Population (ZIP): 6,992

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 (97%)
• Race & ethnicity: White 97% Black 1%
• Common ancestry: Italian 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -3.05%
• Current HPI: 97.3351
• 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 $85,000 SWVAR

Property tax history

-2.7%/yr

Latest (2025): $122 · +0.0% YoY. Source: county tax records.