508 College St · Narrows, VA 24124

$120,000

3 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 327 Days on market

Built 1960 1,742 sqft lot $93/sqft · 22% below area Est $153k · 22% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• Appreciation +8.0/10.0
• DSCR +6.5/10.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

Key facts

• 1,742 sq ft lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/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 $112k (6.8% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#204 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Giles County Public School District (rural): math 56% / reading 68% proficiency, ranked #54 of 131 in VA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 25 units permitted in Giles County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($830 loan paydown + $7k appreciation (6.0% local appreciation)).
• Giles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 327 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $85k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 327 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.9

CMA / ARV

• ARV (median comp): $153,101
• List price: $120,000
• Delta: -21.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 College St	0.28mi	3/2.0	1,474 (+14%)	1mo	$130,000	$88	58
212 Gross St	0.38mi	2/1.0 (-1)	1,140 (-12%)	14mo	$65,000	$57	47
200 Cunningham St	0.45mi	3/1.0	1,130 (-12%)	14mo	$177,000	$157	47
1010 Westview St	0.48mi	3/1.0	1,394 (+8%)	22mo	$160,000	$115	46
104 Park Dr	0.43mi	3/2.0	1,471 (+14%)	14mo	$218,000	$148	41
1111 Wolf St	0.55mi	2/1.0 (-1)	1,193 (-7%)	20mo	$129,000	$108	40

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

Projected returns pro-forma

6.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.34×
• Total profit: $45,030
• Equity at exit: $75,702

10-year hold

• IRR: 19.4%
• Equity multiple: 4.70×
• Total profit: $124,315
• Equity at exit: $137,511

Cash invested: $33,600 (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 24124

• Home prices YoY: 3.1%
• Active inventory: 41
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $160

Break-even live

Break-even rent $916

Max offer price $120,000

Occupancy floor 81%

Sensitivity live

Price	-10% $228	-5% $194	+0% $160	+5% $126	+10% $92
Rent	-10% $71	-5% $116	+0% $160	+5% $204	+10% $248
Rate	-1.0pp $220	-0.5pp $190	base $160	+0.5pp $129	+1.0pp $97

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-10
   days on market $120,000 Active 327 DOM
2. 2026-06-09
   days on market $120,000 Active 326 DOM
3. 2026-06-08
   days on market $120,000 Active 325 DOM
4. 2026-06-07
   days on market $120,000 Active 324 DOM
5. 2026-06-03
   days on market $120,000 Active 320 DOM
6. 2026-06-02
   days on market $120,000 Active 319 DOM
7. 2026-06-01
   days on market $120,000 Active 318 DOM
8. 2026-05-31
   days on market $120,000 Active 317 DOM
9. 2026-05-30
   days on market $120,000 Active 316 DOM
10. 2026-05-08
    price $120,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

11. 2026-05-08
    status Active 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

12. 2026-04-06
    status Pending 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

13. 2026-03-31
    price $163,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

14. 2026-03-24
    price $164,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

15. 2025-11-07
    price $165,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

16. 2025-10-28
    price $170,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

17. 2025-09-12
    price $178,200 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

18. 2025-08-07
    price $179,900 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

19. 2025-06-30
    price $195,000 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

20. 2025-06-16
    listed $205,000 Active 109-char remark

    Show marketing remark (109 chars)

    Charming 3 bedroom Brick ranch with attached garage, Family room, and spacious bedrooms all at a great price!

21. 2021-05-21
    soldstatus $115,000
22. 2021-05-21
    soldstatus $115,000
23. 2021-04-13
    listed $120,000
24. 2013-11-15
    listed $89,900
25. 2003-08-21
    soldstatus $40,000

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$450/yr (+$38/mo · 84.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 9 d/yr ≥94°F today · 27 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: $13,422
• − Mortgage interest: −$6,722
• − Property taxes: −$534
• − Insurance: −$600
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$3,491
• Taxable loss: −$72
• Est. tax savings @ 24.0%: +$17
• After-tax cash flow: $1,936/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: Giles County Public School District
• NCES district ID: 5101590
• Math proficiency: 56% ▼ -26.00%
• Reading proficiency: 68% ▼ -8.00%
• Median HH income: $45,394
• Composite: 52.25/100
• National rank: #1600
• State rank: #54 of 131 in VA

Livability — Narrows

• Score: 72/100
• State rank: #204
• US rank: #6289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Narrows, VA
• Population (ZIP): 4,177

Population outlook (Giles County) Hauer SSP2

• Today (2025): 15,868 people
• By 2030: 15,306 · -3.5%
• By 2040: 14,149 · -10.8%
• By 2050: 13,059 · -17.7%
• By 2075: 10,837 · -31.7%
• By 2100: 8,648 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Giles

• 2024 margin: Solid R (+54.5) · D 22.4% · R 76.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -16.3pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+51.4 2016: R+48.6 2012: R+25.6 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.04%
• Current HPI: 201.2028
• 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

+200.0% since first listed

16 events — show timeline

• 2026-05-08 Price Changed $120,000 NRVMLS
• 2026-05-08 Relisted — NRVMLS
• 2026-04-06 Pending — NRVMLS
• 2026-03-31 Price Changed $163,000 NRVMLS
• 2026-03-24 Price Changed $164,000 NRVMLS
• 2025-11-07 Price Changed $165,000 NRVMLS
• 2025-10-28 Price Changed $170,000 NRVMLS
• 2025-09-12 Price Changed $178,200 NRVMLS
• 2025-08-07 Price Changed $179,900 NRVMLS
• 2025-06-30 Price Changed $195,000 NRVMLS
• 2025-06-16 Listed $205,000 NRVMLS
• 2021-05-21 Sold (Public Records) $115,000 Public Records
• 2021-05-21 Sold (MLS) $115,000 NRVMLS
• 2021-04-13 Listed $120,000 NRVMLS
• 2013-11-15 Listed $89,900 NRVMLS
• 2003-08-21 Sold (Public Records) $40,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $534 · +0.0% YoY. Source: county tax records.