905 W Franklin St · Wytheville, VA 24382

$150,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 19 Days on market

Built 1945 10,019 sqft lot Est $161k · 7% under

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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 +14.8/30.0
• ARV discount +10.7/15.0
• Schools +6.0/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Freshly remodeled and move-in ready, this charming 2-bedroom, 1-bath home sits on an oversized corner lot just a few blocks from downtown Wytheville. Inside, you'll find updated finishes throughout, creating a bright and welcoming space that's perfect for everyday living. The layout offers a comfortable flow with plenty of natural light and functional living areas. Outside is where this property really shines—enjoy the extra space of a large corner lot along with two outbuildings that provide excellent options for storage, a workshop, or hobby space. With its convenient location close to shopping, dining, and all that downtown has to offer, this home combines modern updates with small

Key facts

• 0.23 acre lot
• Built 1945
• Listed 19 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $42 ($502/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (21.7% below list).
• Recommended offer: $117k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.3% in Wytheville — 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 76/100 on livability (#116 in VA, #3,571 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: employment D, amenities F, commute F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Spiller Elementary (math 62% / reading 73%, grade B+, #372 of 1,108 statewide, top 34%, 624 students, 73% FRL); Scott Memorial Middle (math 73% / reading 79%, grade A, #42 of 342 statewide, top 13%, 318 students, 73% FRL); George Wythe High (math 72% / reading 82%, grade A-, #90 of 319 statewide, top 30%, 462 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,497 (21.7% below list)

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.78% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $161,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1210 W Monroe St	0.33mi	2/1.0	912 (0%)	5mo	$192,000	$211	81
215 S 12th St	0.16mi	2/2.0	946 (+4%)	6mo	$95,000	$100	78
855 W Franklin St	0.05mi	2/1.0	832 (-9%)	7mo	$119,000	$143	78
1135 W Spiller St	0.40mi	2/2.0	900 (-1%)	9mo	$229,000	$254	68
365 S 12th St	0.15mi	3/1.0 (+1)	1,029 (+13%)	7mo	$215,000	$209	61
1465 W Railroad Ave	0.42mi	2/1.0	1,008 (+10%)	3mo	$85,000	$84	60
665 W Un	0.24mi	3/1.0 (+1)	1,029 (+13%)	2mo	$70,000	$68	60
165 N 22nd St	0.30mi	2/2.0	960 (+5%)	17mo	$169,500	$177	59
505 W Jefferson St	0.38mi	3/1.0 (+1)	1,000 (+10%)	3mo	$170,000	$170	59
360 W North St	0.50mi	2/1.0	868 (-5%)	18mo	$170,000	$196	53
430 W North St	0.46mi	2/1.0	801 (-12%)	8mo	$125,000	$156	52
485 N 8th St	0.50mi	2/1.0	780 (-14%)	14mo	$142,000	$182	41

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

Projected returns pro-forma

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

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-21,716
• Equity at exit: $22,365

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-15,782
• Equity at exit: $12,969

Cash invested: $42,000 (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 24382

• Home prices YoY: -25.7%
• Active inventory: 156
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,175 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $42

Break-even live

Break-even rent $1,122

Max offer price $150,000

Occupancy floor 91%

Sensitivity live

Price	-10% $127	-5% $84	+0% $42	+5% $-1	+10% $-43
Rent	-10% $-51	-5% $-5	+0% $42	+5% $88	+10% $135
Rate	-1.0pp $117	-0.5pp $80	base $42	+0.5pp $3	+1.0pp $-37

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 E Withers Rd #206 Wytheville, VA	1.0	1.0	600	$1,100	$1.83	45d	1	0.71mi
120 W Marshall St Unit 2 Wytheville, VA	2.0	1.0	900	$1,250	$1.39	45d	1	0.71mi
860 Church St Wytheville, VA	2.0	1.0	600	$1,300	$2.17	45d	1	0.71mi
150 Birch Dr Wytheville, VA	1.0–2.0	1.0–2.0	825	$950	$1.15	45d	1	1.35mi

Listing history 5 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   price $150,000
3. 2026-04-08
   status Active
4. 2026-04-08
   listed $160,000 Active
5. 2005-03-07
   listed $79,500

ⓘ 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: $447 · $37/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$783/yr (+$65/mo · 175.0%)

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

Taxation est. · year 1

• Rental income: $14,100
• − Mortgage interest: −$8,402
• − Property taxes: −$447
• − Insurance: −$750
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$4,364
• Taxable loss: −$2,120
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,011/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: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Wytheville

• Score: 76/100
• State rank: #116
• US rank: #3571

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wytheville, VA
• City population: 14,751
• Population (ZIP): 14,751

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 191.6387
• 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

+88.7% since first listed

5 events — show timeline

• 2026-04-27 Pending — SWVAR
• 2026-04-23 Price Changed $150,000 SWVAR
• 2026-04-08 Relisted — SWVAR
• 2026-04-08 Listed $160,000 SWVAR
• 2005-03-07 Listed $79,500 SWVAR

Property tax history

+3.9%/yr

Latest (2025): $447 · +0.0% YoY. Source: county tax records.