855 Meadowbrook Dr · Chilhowie, VA 24319

$225,000

4 bd · 3.0 ba · 1,792 sqft · MultiFamily · 48 Days on market

Built 2006 Fair condition 9,148 sqft lot ↓ 10% since listing

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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).

• Cash flow +13.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Duplex in Chilhowie featuring 2 bedrooms and 1.5 baths on each side. Each unit offers a practical layout with comfortable living space, a convenient half bath on the main level, and two bedrooms with a full bath upstairs. Both units have private back decks, perfect for relaxing or enjoying the outdoors. Located just minutes from downtown, with easy access to local shops and dining. Great opportunity for investors or anyone looking to live in one side and rent the other.

Key facts

• Private back decks
• Practical layout
• Convenient half bath

Tags

• PRIVATE BACK DECKS
• CONVENIENT HALF BATH
• PRACTICAL LAYOUT
• COMFORTABLE LIVING SPACE
• EASY ACCESS TO LOCAL SHOPS
• MINUTES FROM DOWNTOWN

Property features AI

Exterior

• Parking: No dedicated parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential income property; Duplex
• Construction: Vinyl siding
• Exterior features: Shingle roof; Lot approximately 0.21 acre; Zoned R2

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet; Wood
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Insulated windows; Unfinished basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.5-bath units multifamily listed at $225k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-78 ($-933/yr) — negative. Per door: $-39/mo.
• To cash-flow at today's rent, offer at most $214k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (13.2% below list).
• Recommended offer: $195k (13.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#208 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, health & safety C-, amenities F.
• Smyth County Public School District (rural): math 46% / reading 63% proficiency, ranked #89 of 131 in VA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chilhowie Elementary (math 36% / reading 49%, grade F, #862 of 1,108 statewide, top 78%, 543 students, 89% FRL); Chilhowie Middle (math 62% / reading 69%, grade A-, #116 of 342 statewide, top 35%, 306 students, 70% FRL); Chilhowie High (math 62% / reading 82%, grade B+, #134 of 319 statewide, top 45%, 393 students, 64% FRL) — zoned schools average 74% FRL vs 54% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 75 active listings in the ZIP; 38 units permitted in Smyth County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,400 (13.2% 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 48 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 9.6

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: 23.2%
• Equity multiple: 2.87×
• Total profit: $117,661
• Equity at exit: $202,698

10-year hold

• IRR: 20.7%
• Equity multiple: 6.56×
• Total profit: $350,525
• Equity at exit: $437,126

Cash invested: $63,000 (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 24319

• Home prices YoY: 6.6%
• Active inventory: 75
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $1,954 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-78

Break-even live

Break-even rent $2,052

Max offer price $213,753

Occupancy floor 99%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$1,954
Total (2 units)			$1,954

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $225,000 Active 48 DOM
2. 2026-06-17
   days on market $225,000 Active 47 DOM
3. 2026-06-16
   days on market $225,000 Active 46 DOM
4. 2026-06-15
   days on market $225,000 Active 45 DOM
5. 2026-06-15
   days on market $225,000 Active 44 DOM
6. 2026-06-13
   days on market $225,000 Active 43 DOM
7. 2026-06-12
   days on market $225,000 Active 42 DOM
8. 2026-06-09
   days on market $225,000 Active 39 DOM
9. 2026-06-08
   days on market $225,000 Active 38 DOM
10. 2026-06-08
    days on market $225,000 Active 37 DOM
11. 2026-06-07
    days on market $225,000 Active 36 DOM
12. 2026-06-03
    days on market $225,000 Active 33 DOM
13. 2026-06-02
    days on market $225,000 Active 32 DOM
14. 2026-06-01
    days on market $225,000 Active 31 DOM
15. 2026-05-31
    days on market $225,000 Active 30 DOM
16. 2026-05-01
    listed $250,000 Active 474-char remark

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $23,448
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,922
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$6,545
• Taxable loss: −$4,750
• Est. tax savings @ 24.0%: +$1,140
• After-tax cash flow: $207/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate repairs and maintenance, particularly in painting and landscaping, to improve its curb appeal and value.

Repairs flagged

• Major Paint on exterior doors and trim — Significant wear and fading
• Major Landscaping — Overgrown and needs trimming

Value-add opportunities

• Both Paint exterior doors and trim — Enhances curb appeal and value
• Both Trim and maintain landscaping — Improves curb appeal and value
• Both Replace worn flooring — Enhances interior and rental value
• Both Update kitchen and bathrooms — Modernizes and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint on exterior doors and trim · Significant wear and fading	Major	$15,000–50,000
Landscaping · Overgrown and needs trimming	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior doors and trim — Enhances curb appeal and value ↑
• Both Trim and maintain landscaping — Improves curb appeal and value ↑
• Both Replace worn flooring — Enhances interior and rental value ↑
• Both Update kitchen and bathrooms — Modernizes and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Smyth County Public School District
• NCES district ID: 5103520
• Math proficiency: 46% ▼ -38.00%
• Reading proficiency: 63% ▼ -14.00%
• Median HH income: $36,901
• Composite: 45.2/100
• National rank: #2672
• State rank: #89 of 131 in VA

Livability — Chilhowie

• Score: 71/100
• State rank: #208
• US rank: #6576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chilhowie, VA
• Population (ZIP): 6,963

Population outlook (Smyth County) Hauer SSP2

• Today (2025): 29,740 people
• By 2030: 28,593 · -3.9%
• By 2040: 26,091 · -12.3%
• By 2050: 23,629 · -20.5%
• By 2075: 18,365 · -38.2%
• By 2100: 13,697 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Smyth

• 2024 margin: Solid R (+60.5) · D 19.4% · R 79.9%
• 2008→2024 swing: -31.4pp toward R · 2008: -29.1pp · 2024: -60.5pp
• All cycles: 2024: R+60.5 2020: R+56.3 2016: R+55.2 2012: R+33.0 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.03%
• Current HPI: 257.8732
• 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

-10.0% since first listed

2 events — show timeline

• 2026-05-23 Price Changed $225,000 SWVAR
• 2026-05-01 Listed $250,000 SWVAR