4110 Flatwoods Rd · Lafayette, VA 24087

$309,995

3 bd · 2.0 ba · 1,118 sqft · SingleFamily public records · 4 Days on market

Built 1999 0.99 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +1.8/5.0
• DSCR +1.6/10.0
• 1% rule +1.1/10.0

Listing remarks MLS

Beautiful 3BR/2BA ranch in Elliston, VA! Centrally located between Roanoke and Blacksburg, this home features an attached Garage plus a detached TWO Car Garage with a bonus room above. The unfinished basement with high ceilings is ready to be finished to double your square footage! Major updates include a new roof and porch (2025) and a well-maintained septic. Move-in ready with room to grow--come see the potential at 4110 Flatwoods Road!

Key facts

• Bonus room above
• Attached garage
• Unfinished basement

Tags

• ATTACHED GARAGE
• DETACHED TWO CAR GARAGE
• BONUS ROOM ABOVE
• UNFINISHED BASEMENT
• NEW ROOF
• WELL-MAINTAINED SEPTIC

Property features AI

Exterior

• Parking: Covered parking for 3 vehicles; 6 additional open parking spaces; Off-street parking available
• Utilities: Has heating and cooling
• Home design: Residential property; Built in 1999
• Exterior features: Front porch; Rear porch; Almost 1-acre lot

Interior

• Kitchen: Built-in microwave
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Carpet; Concrete; Vinyl
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced-air gas heating; Central cooling
• Interior features: Metal interior doors; Insulated windows; Built-in microwave oven

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $-389 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (39.0% below list).
• Recommended offer: $189k (39.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 36/100 on livability (#590 in VA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Eastern Montgomery Elementary (math 27% / reading 42%, grade F, #966 of 1,108 statewide, top 89%, 385 students, 76% FRL); Shawsville Middle (math 41% / reading 56%, grade C-, #244 of 342 statewide, top 72%, 208 students, 74% FRL); Eastern Montgomery High (math 72% / reading 77%, grade B+, #107 of 319 statewide, top 37%, 282 students, 62% FRL) — zoned schools average 71% FRL vs 32% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 33 active listings in the ZIP; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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.
• Current owner paid $164k; list at $310k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,112 (39.0% 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: 0.61% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.37%
• DSCR: 0.76
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 2.66×
• Total profit: $143,940
• Equity at exit: $279,268

10-year hold

• IRR: 18.6%
• Equity multiple: 6.10×
• Total profit: $443,091
• Equity at exit: $602,252

Cash invested: $86,799 (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 24087

• Home prices YoY: 4.3%
• Active inventory: 33
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,891 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$128 /mo · $1,535/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-389

Break-even live

Break-even rent $2,383

Max offer price $241,319

Occupancy floor —

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: $77,499
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-01
   statusdays on market $309,995 Pending 4 DOM
2. 2026-05-31
   days on market $309,995 Active 3 DOM
3. 2026-05-30
   days on market $309,995 Active 2 DOM
4. 2026-05-28
   listed $309,995 Active 442-char remark

   Show marketing remark (442 chars)

   Beautiful 3BR/2BA ranch in Elliston, VA! Centrally located between Roanoke and Blacksburg, this home features an attached Garage plus a detached TWO Car Garage with a bonus room above. The unfinished basement with high ceilings is ready to be finished to double your square footage! Major updates include a new roof and porch (2025) and a well-maintained septic. Move-in ready with room to grow--come see the potential at 4110 Flatwoods Road!

5. 2026-05-22
   listed $309,995 Active
6. 2013-05-23
   soldstatus $164,000 366-char remark

   Show marketing remark (366 chars)

   Country living with easy access to I-81. Well maintained home, one owner ranch with walkout basement. (High ceilings allowing for over 1000 sq ft expansion. ) This home is on a level lot approx 1 acre w/ exceptional quality built detached 2-car garage w/ walkup loft. Also single car carport. Only 5 minutes to Interstate, 20 mins to Salem and 25 min. to Blacksburg.

7. 2013-05-17
   soldstatus $164,000
8. 2013-03-04
   listed $169,950 366-char remark

   Show marketing remark (366 chars)

   Country living with easy access to I-81. Well maintained home, one owner ranch with walkout basement. (High ceilings allowing for over 1000 sq ft expansion. ) This home is on a level lot approx 1 acre w/ exceptional quality built detached 2-car garage w/ walkup loft. Also single car carport. Only 5 minutes to Interstate, 20 mins to Salem and 25 min. to Blacksburg.

9. 2000-05-15
   soldstatus $118,950
10. 1999-11-14
    listed $118,950

ⓘ 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: $1,535 · $128/mo
• Projected year-2 tax: $2,542 · $212/mo
• Expected delta: +$1,007/yr (+$84/mo · 65.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 21 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: $22,693
• − Mortgage interest: −$17,365
• − Property taxes: −$1,535
• − Insurance: −$1,550
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$9,018
• Taxable loss: −$10,405
• Est. tax savings @ 24.0%: +$2,497
• After-tax cash flow: $-2,168/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: Montgomery County Public School District
• NCES district ID: 5102520
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 70% ▼ -11.00%
• Median HH income: $46,618
• Composite: 53.6/100
• National rank: #1440
• State rank: #47 of 131 in VA

Livability — Lafayette

• Score: 36/100
• State rank: #590
• US rank: #27673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,948

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 105,748 people
• By 2030: 110,301 · +4.3%
• By 2040: 115,652 · +9.4%
• By 2050: 119,651 · +13.1%
• By 2075: 126,005 · +19.2%
• By 2100: 129,771 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 19% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 15% Puerto Rican 3%
• Common ancestry: Romanian 3% Italian 2% Serbian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 50.9% · R 47.4% · Other 1.7%
• 2008→2024 swing: -1.4pp toward R · 2008: 4.9pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+5.8 2016: D+1.3 2012: R+0.2 2008: D+4.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.65%
• Current HPI: 258.6535
• 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

+160.6% since first listed

7 events — show timeline

• 2026-05-28 Listed $309,995 NRVMLS
• 2026-05-22 Listed $309,995 MLSRV
• 2013-05-23 Sold (MLS) $164,000 MLSRV
• 2013-05-17 Sold (Public Records) $164,000 Public Records
• 2013-03-04 Listed $169,950 MLSRV
• 2000-05-15 Sold (MLS) $118,950 MLSRV
• 1999-11-14 Listed $118,950 MLSRV

Property tax history

+0.3%/yr

Latest (2025): $1,535 · +1.3% YoY. Source: county tax records.