1263 Allison Gap Rd · Allison Gap, VA 24370

$34,900

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 20 Days on market

Built 1925 8,712 sqft lot ↓ 53% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming opportunity in the heart of Saltville! This 2-bedroom, 1-bath home offers approximately 1,170 square feet of living space and sits on a mostly level 0.20-acre lot. Built in 1925, the property features a functional layout with plenty of potential for updates and improvements. While the home will need some TLC, it provides a great opportunity for investors, first-time buyers, or anyone looking for an affordable project property. Conveniently located on Allison Gap Road with easy access to town amenities, schools, and outdoor recreation. Enjoy the peaceful setting and usable yard space with room for gardening, pets, or outdoor entertaining. Being sold as-is. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater to the sellers title company. Unknown of internet services.

Key facts

• Usable yard space
• Outdoor entertaining
• Room for gardening

Tags

• USABLE YARD SPACE
• EASY ACCESS TO TOWN AMENITIES
• ROOM FOR GARDENING
• OUTDOOR ENTERTAINING

Property features AI

Exterior

• Utilities: Public water
• Home design: Single family residence; House
• Construction: Wood siding; Metal roof
• Exterior features: Level to sloped lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: 5 total rooms; Basement with exterior entry, unfinished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: Saltville Elementary (math 52% / reading 62%, grade C+, #597 of 1,108 statewide, top 57%, 195 students, 102% FRL); Northwood Middle (math 42% / reading 67%, grade B-, #194 of 342 statewide, top 60%, 151 students, 86% FRL); Northwood High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 240 students, 87% FRL) — zoned schools average 91% FRL vs 54% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 31 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 $343 of equity ($241 loan paydown + $102 appreciation (0.3% 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 (0.3% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.88% ✓
• Cap rate: 25.63%
• Cash-on-cash: 69.05%
• DSCR: 4.07
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $145,080
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Pump Log Hollow Rd	0.67mi	2/1.0	1,336 (+14%)	4mo	$165,000	$124	42
901 Allison Gap Rd	0.64mi	3/2.0 (+1)	1,200 (+3%)	21mo	$140,000	$117	39

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

Projected returns pro-forma

0.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.0%
• Equity multiple: 4.18×
• Total profit: $31,090
• Equity at exit: $10,647

10-year hold

• IRR: 64.9%
• Equity multiple: 8.48×
• Total profit: $73,067
• Equity at exit: $13,215

Cash invested: $9,772 (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 24370

• Home prices YoY: 0.1%
• Active inventory: 31
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,004 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$33 /mo · $401/yr
• Insurance: −$15
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $496

Break-even live

Break-even rent $377

Max offer price $34,900

Occupancy floor 46%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $34,900 Active 20 DOM
2. 2026-06-17
   days on market $34,900 Active 19 DOM
3. 2026-06-16
   days on market $34,900 Active 18 DOM
4. 2026-06-15
   days on market $34,900 Active 17 DOM
5. 2026-06-15
   days on market $34,900 Active 16 DOM
6. 2026-06-13
   days on market $34,900 Active 15 DOM
7. 2026-06-12
   days on market $34,900 Active 14 DOM
8. 2026-06-09
   days on market $34,900 Active 11 DOM
9. 2026-06-08
   days on market $34,900 Active 10 DOM
10. 2026-06-08
    days on market $34,900 Active 9 DOM
11. 2026-06-07
    days on market $34,900 Active 8 DOM
12. 2026-06-03
    days on market $34,900 Active 5 DOM
13. 2026-06-02
    days on market $34,900 Active 4 DOM
14. 2026-06-01
    days on market $34,900 Active 3 DOM
15. 2026-05-31
    days on market $34,900 Active 2 DOM
16. 2026-05-29
    listed $34,900 Active

    Show marketing remark (883 chars)

    Charming opportunity in the heart of Saltville! This 2-bedroom, 1-bath home offers approximately 1,170 square feet of living space and sits on a mostly level 0.20-acre lot. Built in 1925, the property features a functional layout with plenty of potential for updates and improvements. While the home will need some TLC, it provides a great opportunity for investors, first-time buyers, or anyone looking for an affordable project property. Conveniently located on Allison Gap Road with easy access to town amenities, schools, and outdoor recreation. Enjoy the peaceful setting and usable yard space with room for gardening, pets, or outdoor entertaining. Being sold as-is. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater to the sellers title company. Unknown of internet services.

17. 2026-05-29
    listed $34,900 Active 883-char remark

    Show marketing remark (883 chars)

    Charming opportunity in the heart of Saltville! This 2-bedroom, 1-bath home offers approximately 1,170 square feet of living space and sits on a mostly level 0.20-acre lot. Built in 1925, the property features a functional layout with plenty of potential for updates and improvements. While the home will need some TLC, it provides a great opportunity for investors, first-time buyers, or anyone looking for an affordable project property. Conveniently located on Allison Gap Road with easy access to town amenities, schools, and outdoor recreation. Enjoy the peaceful setting and usable yard space with room for gardening, pets, or outdoor entertaining. Being sold as-is. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater to the sellers title company. Unknown of internet services.

18. 2022-01-19
    soldstatus $74,200

ⓘ 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: $401 · $33/mo
• Projected year-2 tax: $401 · $33/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 25 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: $12,050
• − Mortgage interest: −$1,955
• − Property taxes: −$401
• − Insurance: −$972
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$1,015
• Taxable income: $5,778
• Est. tax owed @ 24.0%: −$1,387
• After-tax cash flow: $4,563/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: 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 — Allison Gap

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Allison Gap, VA
• Population (ZIP): 5,740

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 (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 0.29%
• Current HPI: 218.7537
• 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

-53.0% since first listed

3 events — show timeline

• 2026-05-29 Listed $34,900 SWVAR
• 2026-05-29 Listed $34,900 TVRMLS
• 2022-01-19 Sold (Public Records) $74,200 Public Records

Property tax history

+3.6%/yr

Latest (2025): $401 · +0.0% YoY. Source: county tax records.