151 Craig St E · Craigsville, VA 24430

$135,000

2 bd · 1.0 ba · 1,077 sqft · SingleFamily public records · 282 Days on market

Built 1955 10,018 sqft lot $125/sqft · 22% below area Est $173k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Appreciation +8.7/10.0
• Schools +5.3/10.0
• DSCR +4.1/10.0
• Livability +3.0/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable 3BR/1BA home in western Augusta County. Investors and new homeowners welcome. This home is on almost 1/4 acre in the town of Craigsville. Hardwood floors throughout living room and bedrooms. Kitchen and bathrooms are in need of renovation. This could be a good project house for someone looking for something affordable that could be fixed up while living in the home. Home is being sold strictly AS-IS, WHERE-IS no Seller repairs. Property does have separate town water/sewer hookups on back side of lot. Ready for a new owner's TLC.

Key facts

• Hardwood floors
• 0.23 acre lot
• Built 1955

Tags

• HARDWOOD FLOORS
• TOWN WATER SEWER HOOKUPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-453 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $55k (59.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (23.6% below list).
• Recommended offer: $55k (59.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 60/100 on livability (#431 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A; Watch: schools C-, crime C-, amenities F.
• Augusta County Public School District (rural): math 55% / reading 69% proficiency, ranked #52 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($933 loan paydown + $10k appreciation (7.4% local appreciation)).
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,001 (59.3% 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 282 days. Have you received any prior offers? Is the seller open to a 59% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.76% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 10.9

CMA / ARV

• ARV (median comp): $173,018
• List price: $135,000
• Delta: -21.97%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 1st St E	0.25mi	2/1.0	1,047 (-3%)	11mo	$90,000	$86	74
34 Johnson St	0.16mi	3/2.0 (+1)	1,152 (+7%)	10mo	$150,000	$130	64
299 E Craig St	0.28mi	3/1.0 (+1)	1,068 (-1%)	21mo	$187,000	$175	63
109 Brookhollow Rd	0.32mi	3/2.0 (+1)	1,114 (+3%)	10mo	$169,000	$152	62
114 Brookhollow Rd	0.29mi	2/1.0	948 (-12%)	11mo	$169,000	$178	57
144 Mill Creek Ct	0.38mi	2/1.0	1,012 (-6%)	23mo	$215,000	$212	53
22 Sweet Spring Ln	0.72mi	2/1.5	1,122 (+4%)	23mo	$215,000	$192	38
540 Craig St E	0.68mi	3/1.0 (+1)	969 (-10%)	18mo	$165,000	$170	31

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

Projected returns pro-forma

7.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.59×
• Total profit: $22,150
• Equity at exit: $97,413

10-year hold

• IRR: 9.6%
• Equity multiple: 3.28×
• Total profit: $86,146
• Equity at exit: $188,648

Cash invested: $37,800 (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 24430

• Home prices YoY: 2.3%
• Active inventory: 16
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$56
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $-453

Break-even live

Break-even rent $1,605

Max offer price $55,001

Occupancy floor —

Sensitivity live

Price	-10% $-376	-5% $-415	+0% $-453	+5% $-491	+10% $-529
Rent	-10% $-534	-5% $-494	+0% $-453	+5% $-412	+10% $-371
Rate	-1.0pp $-385	-0.5pp $-419	base $-453	+0.5pp $-488	+1.0pp $-523

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $135,000 Active 282 DOM
2. 2026-06-19
   days on market $135,000 Active 280 DOM
3. 2026-06-18
   days on market $135,000 Active 279 DOM
4. 2026-06-17
   days on market $135,000 Active 278 DOM
5. 2026-06-16
   days on market $135,000 Active 277 DOM
6. 2026-06-15
   days on market $135,000 Active 276 DOM
7. 2026-06-14
   days on market $135,000 Active 274 DOM
8. 2026-06-13
   days on market $135,000 Active 273 DOM
9. 2026-06-10
   days on market $135,000 Active 271 DOM
10. 2026-06-09
    days on market $135,000 Active 270 DOM
11. 2026-06-08
    days on market $135,000 Active 269 DOM
12. 2026-06-07
    days on market $135,000 Active 268 DOM
13. 2026-06-05
    days on market $135,000 Active 265 DOM
14. 2026-06-03
    days on market $135,000 Active 264 DOM
15. 2026-06-02
    days on market $135,000 Active 263 DOM
16. 2026-06-01
    days on market $135,000 Active 262 DOM
17. 2026-05-31
    days on market $135,000 Active 261 DOM
18. 2026-05-30
    days on market $135,000 Active 260 DOM
19. 2026-03-12
    status Active 545-char remark

    Show marketing remark (545 chars)

    Affordable 3BR/1BA home in western Augusta County. Investors and new homeowners welcome. This home is on almost 1/4 acre in the town of Craigsville. Hardwood floors throughout living room and bedrooms. Kitchen and bathrooms are in need of renovation. This could be a good project house for someone looking for something affordable that could be fixed up while living in the home. Home is being sold strictly AS-IS, WHERE-IS no Seller repairs. Property does have separate town water/sewer hookups on back side of lot. Ready for a new owner's TLC.

20. 2026-01-07
    price $135,000 545-char remark

    Show marketing remark (545 chars)

    Affordable 3BR/1BA home in western Augusta County. Investors and new homeowners welcome. This home is on almost 1/4 acre in the town of Craigsville. Hardwood floors throughout living room and bedrooms. Kitchen and bathrooms are in need of renovation. This could be a good project house for someone looking for something affordable that could be fixed up while living in the home. Home is being sold strictly AS-IS, WHERE-IS no Seller repairs. Property does have separate town water/sewer hookups on back side of lot. Ready for a new owner's TLC.

21. 2025-11-03
    price $149,000 545-char remark

    Show marketing remark (545 chars)

    Affordable 3BR/1BA home in western Augusta County. Investors and new homeowners welcome. This home is on almost 1/4 acre in the town of Craigsville. Hardwood floors throughout living room and bedrooms. Kitchen and bathrooms are in need of renovation. This could be a good project house for someone looking for something affordable that could be fixed up while living in the home. Home is being sold strictly AS-IS, WHERE-IS no Seller repairs. Property does have separate town water/sewer hookups on back side of lot. Ready for a new owner's TLC.

22. 2025-09-06
    listed $159,000 Active 545-char remark

    Show marketing remark (545 chars)

    Affordable 3BR/1BA home in western Augusta County. Investors and new homeowners welcome. This home is on almost 1/4 acre in the town of Craigsville. Hardwood floors throughout living room and bedrooms. Kitchen and bathrooms are in need of renovation. This could be a good project house for someone looking for something affordable that could be fixed up while living in the home. Home is being sold strictly AS-IS, WHERE-IS no Seller repairs. Property does have separate town water/sewer hookups on back side of lot. Ready for a new owner's TLC.

23. 2009-05-22
    soldstatus $135,000

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$585/yr (+$49/mo · 112.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 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: $12,384
• − Mortgage interest: −$7,562
• − Property taxes: −$522
• − Insurance: −$6,200
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$3,927
• Taxable loss: −$7,809
• Est. tax savings @ 24.0%: +$1,874
• After-tax cash flow: $-3,560/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: Augusta County Public School District
• NCES district ID: 5100300
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $53,562
• Composite: 53.02/100
• National rank: #1521
• State rank: #52 of 131 in VA

Livability — Craigsville

• Score: 60/100
• State rank: #431
• US rank: #18528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Craigsville, VA
• Population (ZIP): 3,300

Population outlook (Augusta County) Hauer SSP2

• Today (2025): 77,558 people
• By 2030: 78,389 · +1.1%
• By 2040: 78,629 · +1.4%
• By 2050: 77,171 · -0.5%
• By 2075: 74,455 · -4.0%
• By 2100: 65,077 · -16.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 30% Hispanic / Latino 5% Two or more races 3% Native American 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Augusta

• 2024 margin: Solid R (+47.5) · D 25.8% · R 73.3%
• 2008→2024 swing: -7.7pp toward R · 2008: -39.9pp · 2024: -47.5pp
• All cycles: 2024: R+47.5 2020: R+47.0 2016: R+49.2 2012: R+42.1 2008: R+39.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.43%
• Current HPI: 336.4087
• 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

+0.0% since first listed

5 events — show timeline

• 2026-03-12 Relisted — GAAR
• 2026-01-07 Price Changed $135,000 GAAR
• 2025-11-03 Price Changed $149,000 GAAR
• 2025-09-06 Listed $159,000 GAAR
• 2009-05-22 Sold (Public Records) $135,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $522 · +0.0% YoY. Source: county tax records.