2372 Mash Run Rd · Prices Fork, VA 24060

$265,000

4 bd · 2.0 ba · 2,080 sqft · MultiFamily public records · 266 Days on market

Built 1978 0.87 ac lot ↓ 4% since listing

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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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

Key facts

• Improved grading
• 0.87 acre lot
• Listed 265 days

Tags

• RECENT BASEMENT RENOVATIONS
• IMPROVED GRADING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $881 ($11k/yr) — positive. Per door: $440/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.1% in Prices Fork — 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 83/100 on livability (#42 in VA, #1,003 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A; Watch: amenities 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.
• Market conditions: Rents rising (+4.0%/yr); 313 active listings in the ZIP; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• At $3,153/mo this rent would consume 56% of the median local household income ($68k/yr) (locally 3694% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 34094% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $233,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.95% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.22×
• Total profit: $16,096
• Equity at exit: $39,512

10-year hold

• IRR: 15.7%
• Equity multiple: 2.33×
• Total profit: $98,602
• Equity at exit: $22,912

Cash invested: $74,200 (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 24060

• Rents YoY: 4.0%
• Active inventory: 313
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,153 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$110 /mo · $1,322/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $881

Break-even live

Break-even rent $2,038

Max offer price $265,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,031	-5% $956	+0% $881	+5% $806	+10% $731
Rent	-10% $631	-5% $756	+0% $881	+5% $1,005	+10% $1,130
Rate	-1.0pp $1,014	-0.5pp $948	base $881	+0.5pp $812	+1.0pp $742

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,152
Total (2 units)			$3,153

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $265,000 Active 266 DOM
2. 2026-06-18
   days on market $265,000 Active 265 DOM
3. 2026-06-17
   days on market $265,000 Active 264 DOM
4. 2026-06-16
   days on market $265,000 Active 263 DOM
5. 2026-06-15
   days on market $265,000 Active 262 DOM
6. 2026-06-14
   days on market $265,000 Active 260 DOM
7. 2026-06-13
   days on market $265,000 Active 259 DOM
8. 2026-06-10
   days on market $265,000 Active 257 DOM
9. 2026-06-09
   days on market $265,000 Active 256 DOM
10. 2026-06-08
    days on market $265,000 Active 255 DOM
11. 2026-06-07
    days on market $265,000 Active 254 DOM
12. 2026-06-05
    days on market $265,000 Active 251 DOM
13. 2026-06-03
    days on market $265,000 Active 250 DOM
14. 2026-06-02
    days on market $265,000 Active 249 DOM
15. 2026-06-01
    days on market $265,000 Active 248 DOM
16. 2026-05-31
    days on market $265,000 Active 247 DOM
17. 2026-05-30
    days on market $265,000 Active 246 DOM
18. 2026-04-22
    price $265,000 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

19. 2026-03-23
    status Active 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

20. 2026-03-23
    status Pending 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

21. 2025-10-02
    historical $775
22. 2025-08-28
    listed $775
23. 2025-08-18
    status Active 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

24. 2025-06-19
    status Pending 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

25. 2025-05-25
    listed $278,000 Active 745-char remark

    Show marketing remark (745 chars)

    Fantastic duplex opportunity just 12 minutes from VT campus and downtown Blacksburg! This property is perfect for someone looking to live in one side while renting out the other, or investors ready to maximize rental income with some smart updates. Each side offers 2 bedrooms and 1 bathroom. The groundwork is already done - improved grading around the property and recent basement renovations have been completed. Currently under-rented but packed with potential, this duplex is positioned to deliver great returns once you add your finishing touches. Whether you're looking to house hack your way into homeownership or build your rental portfolio, this property offers the perfect combination of location, affordability, and upside potential.

26. 2025-03-12
    price $278,000
27. 2024-10-19
    listed $276,000 Active

ⓘ 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: $1,322 · $110/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$851/yr (+$71/mo · 64.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $37,836
• − Mortgage interest: −$14,844
• − Property taxes: −$1,322
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,027
• − Management: −$3,027
• − Depreciation: −$7,709
• Taxable income: $6,582
• Est. tax owed @ 24.0%: −$1,580
• After-tax cash flow: $8,987/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 — Prices Fork

• Score: 83/100
• State rank: #42
• US rank: #1003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 78,218 people
• Metro: Blacksburg-Christiansburg, VA
• Population (ZIP): 48,541
• Household income: $67,675
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 3694.0

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 (80%)
• Race & ethnicity: White 80% Asian 8% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 3% Italian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 86% English-only · Other Indo-European 4% Chinese 3% Spanish 3%

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: ▼ -176.54%
• Current HPI: 289.8166
• Rent YoY: ▲ 3.95%
• Metro: Blacksburg-Christiansburg, VA
• 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

-4.0% since first listed

10 events — show timeline

• 2026-04-22 Price Changed $265,000 NRVMLS
• 2026-03-23 Relisted — NRVMLS
• 2026-03-23 Pending — NRVMLS
• 2025-10-02 Rental Removed $775 APPFOLIO
• 2025-08-28 Listed for Rent $775 APPFOLIO
• 2025-08-18 Relisted — NRVMLS
• 2025-06-19 Pending — NRVMLS
• 2025-05-25 Listed $278,000 NRVMLS
• 2025-03-12 Price Changed $278,000 NRVMLS
• 2024-10-19 Listed $276,000 NRVMLS

Property tax history

+0.7%/yr

Latest (2025): $1,322 · +1.3% YoY. Source: county tax records.