718 E Main St · Fries, VA 24330

$150,000

3 bd · 1.0 ba · 2,130 sqft · SingleFamily public records · 62 Days on market

Built 1910 0.69 ac lot

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Why this score? — see what drove the C 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 +16.7/30.0
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• DSCR +5.2/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits in the heart of Fries, VA! This duplex offers flexibility for investors or owner-occupants looking to offset their mortgage. One side of the property is currently occupied by a tenant, while the second unit is vacant and ready for immediate rental or personal use. Located just a block from the New River and the New River Trail, the property is ideally positioned to enjoy all the outdoor recreation Fries is known for, including biking, fishing, and kayaking. Conveniently situated near local amenities including Dollar General and the fire department, the home also offers ample parking with space along the side and rear of the property—an added bonus in town. Whether you're looking to expand your rental portfolio or live in one unit while generating income from the other, this property offers a variety of possibilities in a charming small-town setting.

Key facts

• Outdoor recreation
• New river
• Biking

Tags

• NEW RIVER
• NEW RIVER TRAIL
• OUTDOOR RECREATION
• BIKING
• FISHING
• KAYAKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $123k (18.0% below list).
• Recommended offer: $123k (18.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#416 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools A-, housing B+; Watch: crime D+, amenities F, commute F.
• Grayson County Public School District (rural): math 68% / reading 76% proficiency, ranked #27 of 131 in VA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 32 active listings in the ZIP; 38 units permitted in Grayson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.2% local appreciation)).
• Grayson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $150k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,058 (18.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.65×
• Total profit: $69,096
• Equity at exit: $115,549

10-year hold

• IRR: 20.4%
• Equity multiple: 5.67×
• Total profit: $196,010
• Equity at exit: $230,897

Cash invested: $42,000 (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 24330

• Home prices YoY: 4.0%
• Active inventory: 32
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $92

Break-even live

Break-even rent $1,114

Max offer price $150,000

Occupancy floor 87%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $150,000 Active 62 DOM
2. 2026-06-17
   days on market $150,000 Active 61 DOM
3. 2026-06-16
   days on market $150,000 Active 60 DOM
4. 2026-06-15
   days on market $150,000 Active 59 DOM
5. 2026-06-15
   days on market $150,000 Active 58 DOM
6. 2026-06-13
   days on market $150,000 Active 57 DOM
7. 2026-06-12
   pricedays on market $150,000 Active 56 DOM
8. 2026-06-09
   days on market $160,000 Active 53 DOM
9. 2026-06-08
   days on market $160,000 Active 52 DOM
10. 2026-06-08
    days on market $160,000 Active 51 DOM
11. 2026-06-07
    days on market $160,000 Active 50 DOM
12. 2026-06-03
    days on market $160,000 Active 47 DOM
13. 2026-06-02
    days on market $160,000 Active 46 DOM
14. 2026-06-01
    days on market $160,000 Active 45 DOM
15. 2026-05-31
    days on market $160,000 Active 44 DOM
16. 2026-05-06
    historical Active Under Contract 886-char remark

    Show marketing remark (886 chars)

    Opportunity awaits in the heart of Fries, VA! This duplex offers flexibility for investors or owner-occupants looking to offset their mortgage. One side of the property is currently occupied by a tenant, while the second unit is vacant and ready for immediate rental or personal use. Located just a block from the New River and the New River Trail, the property is ideally positioned to enjoy all the outdoor recreation Fries is known for, including biking, fishing, and kayaking. Conveniently situated near local amenities including Dollar General and the fire department, the home also offers ample parking with space along the side and rear of the property—an added bonus in town. Whether you're looking to expand your rental portfolio or live in one unit while generating income from the other, this property offers a variety of possibilities in a charming small-town setting.

17. 2026-04-17
    listed $160,000 Active 886-char remark

    Show marketing remark (886 chars)

    Opportunity awaits in the heart of Fries, VA! This duplex offers flexibility for investors or owner-occupants looking to offset their mortgage. One side of the property is currently occupied by a tenant, while the second unit is vacant and ready for immediate rental or personal use. Located just a block from the New River and the New River Trail, the property is ideally positioned to enjoy all the outdoor recreation Fries is known for, including biking, fishing, and kayaking. Conveniently situated near local amenities including Dollar General and the fire department, the home also offers ample parking with space along the side and rear of the property—an added bonus in town. Whether you're looking to expand your rental portfolio or live in one unit while generating income from the other, this property offers a variety of possibilities in a charming small-town setting.

18. 2008-10-23
    soldstatus $36,000

ⓘ 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: $367 · $31/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$863/yr (+$72/mo · 235.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,767
• − Mortgage interest: −$8,402
• − Property taxes: −$367
• − Insurance: −$750
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$4,364
• Taxable loss: −$1,479
• Est. tax savings @ 24.0%: +$355
• After-tax cash flow: $1,464/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: Grayson County Public School District
• NCES district ID: 5101690
• Math proficiency: 68% ▼ -20.00%
• Reading proficiency: 76% ▼ -7.00%
• Median HH income: $31,429
• Composite: 59.22/100
• National rank: #942
• State rank: #27 of 131 in VA

Livability — Fries

• Score: 61/100
• State rank: #416
• US rank: #17459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fries, VA
• Population (ZIP): 2,870

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 14,252 people
• By 2030: 13,634 · -4.3%
• By 2040: 12,202 · -14.4%
• By 2050: 10,811 · -24.1%
• By 2075: 8,069 · -43.4%
• By 2100: 5,647 · -60.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 1% Slovak 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+62.2) · D 18.6% · R 80.8%
• 2008→2024 swing: -33.7pp toward R · 2008: -28.5pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+61.4 2016: R+57.7 2012: R+37.9 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.16%
• Current HPI: 213.619
• 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

+344.4% since first listed

3 events — show timeline

• 2026-05-06 Contingent — SWVAR
• 2026-04-17 Listed $160,000 SWVAR
• 2008-10-23 Sold (Public Records) $36,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $367 · -25.9% YoY. Source: county tax records.