205 Ironwood Ln · Wytheville, VA 24382

$200,000

3 bd · 1.5 ba · 1,026 sqft · SingleFamily public records · 33 Days on market

Built 1994 5.51 ac lot

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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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +6.0/10.0
• Livability +3.8/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on 5.5 private acres with sweeping mountain views and a cleared, park-like yard, this property is the kind of place people spend years searching for — and rarely find at this price point. Pass through the double red gates and wind your way past towering pines into a beautifully opened clearing that feels like your own private retreat, without being far from anything. The home has been thoughtfully cared for and boasts numerous improvements throughout, delivering move-in ready comfort in a setting that feels truly one of a kind. Whether you’re sipping coffee on the front porch as morning mist rolls off the ridgeline, or watching deer and wild turkeys wander through th

Key facts

• Private acres
• Move-in ready
• Towering pines

Tags

• PRIVATE ACRES
• MOUNTAIN VIEWS
• PARK-LIKE YARD
• DOUBLE RED GATES
• TOWERING PINES
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-54 ($-649/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (29.3% below list).
• Recommended offer: $141k (29.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 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 $6k 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 33 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $136k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $141,354 (29.3% 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 33 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.71% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-35,960
• Equity at exit: $29,821

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-36,187
• Equity at exit: $17,292

Cash invested: $56,000 (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: 11.8×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-54

Break-even live

Break-even rent $1,482

Max offer price $190,452

Occupancy floor 99%

Sensitivity live

Price	-10% $59	-5% $3	+0% $-54	+5% $-111	+10% $-167
Rent	-10% $-166	-5% $-110	+0% $-54	+5% $2	+10% $58
Rate	-1.0pp $47	-0.5pp $-3	base $-54	+0.5pp $-106	+1.0pp $-159

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-25
   status Pending
2. 2026-04-23
   price $200,000
3. 2026-04-06
   price $220,000
4. 2026-03-23
   listed $230,000 Active
5. 2025-04-07
   soldstatus $136,000

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$1,177/yr (+$98/mo · 254.2%)

ⓘ 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 2/10 Low 8 d/yr ≥90°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,962
• − Mortgage interest: −$11,203
• − Property taxes: −$463
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$5,818
• Taxable loss: −$4,236
• Est. tax savings @ 24.0%: +$1,017
• After-tax cash flow: $368/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

• 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

+47.1% since first listed

5 events — show timeline

• 2026-04-25 Pending — NRVMLS
• 2026-04-23 Price Changed $200,000 NRVMLS
• 2026-04-06 Price Changed $220,000 NRVMLS
• 2026-03-23 Listed $230,000 NRVMLS
• 2025-04-07 Sold (Public Records) $136,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $463 · +0.0% YoY. Source: county tax records.