116 Frazier Rd · Galax, VA 24333

$95,000

4 bd · 1.0 ba · 1,423 sqft · SingleFamily public records · 8 Days on market

Built 1978 0.33 ac lot

---

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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great family home in a well established neighborhood. This home has had many new updates. Brand new painted wood siding, new interior paint, new flooring, new light fixtures, etc. Home offers a large rear deck for all your family gatherings. Good sized back yard with room for a garden and plenty of room for the kids and family pets to run and play. There is a drive under garage that is great for those rainy days. There are 2 bedrooms upstairs and 2 down. Good layout for giving the kids their own space. Location is so amazing, close proximity to downtown Galax. Also just a short drive to public boat landing on the New River and the New River Trail. This would be a great home for that growing family. It would also make a great rental or investment property. Don't let this one get away. Call today to schedule your showing.

Key facts

• Fenced back yard
• Drive under garage
• 0.33 acre lot

Tags

• FENCED BACK YARD
• DRIVE UNDER GARAGE
• VENTLESS GAS PROPANE FIREPLACE

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Septic tank; Propane
• Home design: Single-family residence; Two levels; Residential zoning
• Construction: Masonite exterior; Shingle roof; Below-grade finished area: 516
• Exterior features: Deck; Cleared, level lot

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Ceiling fan(s)
• Interior features: Insulated windows; Gas log fireplace; Basement (finished area below grade)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 10.2% vs local median 3.7% in Galax — 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 66/100 on livability (#327 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Galax City Public School District (town): math 54% / reading 68% proficiency, ranked #64 of 131 in VA (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Galax Elementary (math 53% / reading 63%, grade C+, #583 of 1,108 statewide, top 53%, 686 students, 96% FRL); Galax Middle (math 52% / reading 70%, grade B+, #151 of 342 statewide, top 45%, 329 students, 101% FRL); Galax High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 378 students, 88% FRL) — zoned schools average 95% FRL vs 57% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 122 active listings in the ZIP; 16 units permitted in Galax city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Galax County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1978 — 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 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $236,218
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Rhudy St	0.10mi	3/1.5 (-1)	1,555 (+9%)	1mo	$199,000	$128	72
828 Fries Rd	0.31mi	3/2.0 (-1)	1,388 (-2%)	14mo	$279,900	$202	60
398 Kenbrook Dr	0.27mi	3/2.0 (-1)	1,254 (-12%)	7mo	$225,000	$179	52
120 Sherry Ln	0.62mi	4/2.0	1,616 (+14%)	1mo	$267,500	$166	44
119 Carriage Dr	0.71mi	3/2.0 (-1)	1,437 (+1%)	19mo	$245,000	$170	40
118 Greenhaven Dr	0.43mi	3/2.0 (-1)	1,554 (+9%)	19mo	$179,000	$115	39
349 Kenbrook Dr	0.61mi	3/2.0 (-1)	1,585 (+11%)	7mo	$172,800	$109	38

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $4,423
• Equity at exit: $14,165

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $29,429
• Equity at exit: $8,214

Cash invested: $26,600 (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 24333

• Home prices YoY: -29.1%
• Active inventory: 122
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$123 /mo · $1,479/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $311

Break-even live

Break-even rent $837

Max offer price $95,000

Occupancy floor 70%

Sensitivity live

Price	-10% $365	-5% $338	+0% $311	+5% $284	+10% $257
Rent	-10% $214	-5% $262	+0% $311	+5% $359	+10% $408
Rate	-1.0pp $359	-0.5pp $335	base $311	+0.5pp $286	+1.0pp $261

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-12
   statusdays on market $95,000 Pending 8 DOM
2. 2026-06-09
   days on market $95,000 Active 6 DOM
3. 2026-06-08
   days on market $95,000 Active 5 DOM
4. 2026-06-08
   days on market $95,000 Active 4 DOM
5. 2026-06-07
   days on market $95,000 Active 3 DOM
6. 2026-06-04
   remarks 572-char remark
7. 2026-06-04
   listed $95,000 Active 1 DOM

ⓘ 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: $1,479 · $123/mo
• Projected year-2 tax: $1,479 · $123/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $14,763
• − Mortgage interest: −$5,321
• − Property taxes: −$1,479
• − Insurance: −$475
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$2,764
• Taxable income: $2,361
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $3,163/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: Galax City Public School District
• NCES district ID: 5101560
• Math proficiency: 54% ▼ -34.00%
• Reading proficiency: 68% ▼ -10.00%
• Median HH income: $29,679
• Composite: 49.91/100
• National rank: #1941
• State rank: #64 of 131 in VA

Livability — Galax

• Score: 66/100
• State rank: #327
• US rank: #12370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galax, VA
• Population (ZIP): 17,841

Population outlook (Galax County) Hauer SSP2

• Today (2025): 6,548 people
• By 2030: 6,418 · -2.0%
• By 2040: 6,110 · -6.7%
• By 2050: 5,785 · -11.7%
• By 2075: 5,168 · -21.1%
• By 2100: 4,347 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Serbian 2% Slovak 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Galax

• 2024 margin: Solid R (+43.9) · D 27.7% · R 71.6%
• 2008→2024 swing: -32.9pp toward R · 2008: -11.0pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+40.2 2016: R+39.1 2012: R+19.0 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.21%
• Current HPI: 168.5375
• 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

+5.7% since first listed

7 events — show timeline

• 2026-06-03 Listed $95,000 SWVAR
• 2022-08-02 Sold (MLS) $165,000 SWVAR
• 2022-06-10 Listed $159,900 SWVAR
• 2021-12-13 Sold (MLS) $90,000 NRVMLS
• 2021-12-13 Sold (MLS) $90,000 SWVAR
• 2021-11-19 Listed $89,900 SWVAR
• 2021-11-19 Listed $89,900 NRVMLS

Property tax history

+9.3%/yr

Latest (2026): $1,479 · +0.0% YoY. Source: county tax records.