2282 Old Pipers Gap · Cana, VA 24317

$200,000

3 bd · 2.0 ba · 2,388 sqft · SingleFamily · 146 Days on market

Built 1961 2.54 ac lot Est $370k · 46% under ↓ 12% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Appreciation +6.1/10.0
• Schools +5.4/10.0
• Livability +3.2/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks MLS

With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

Key facts

• Living room
• Sunroom
• Large kitchen

Tags

• SUNROOM
• SITTING ROOM
• LIVING ROOM
• DEN
• DINING ROOM
• LARGE KITCHEN

Property features AI

Finance

• Other: Property has approximately 2.54 acres; Total building area reported as 3,760; Basement area reported
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Septic tank sewer; Gas water heater
• Home design: Residential stick/site-built house; One-story; Built in 1961; Living room fireplace
• Construction: Brick construction
• Exterior features: Well water source; Publicly maintained road

Interior

• Kitchen: Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Fireplace(s) heat source; Multiple heating systems; No fuel heating listed
• Interior features: Primary bedroom on main level; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (33.1% below list).
• Recommended offer: $134k (33.1% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.4% in Cana — 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 65/100 on livability (#330 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.
• Carroll County Public School District (rural): math 60% / reading 70% proficiency, ranked #46 of 131 in VA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 31 active listings in the ZIP; 80 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.1% local appreciation)).
• Carroll County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $133,795 (33.1% 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 146 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $370,140
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 Old Pipers Gap Rd	0.13mi	3/2.5	2,064 (-14%)	9mo	$320,000	$155	62

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

Projected returns pro-forma

2.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.09×
• Total profit: $4,904
• Equity at exit: $80,170

10-year hold

• IRR: 5.6%
• Equity multiple: 1.77×
• Total profit: $43,128
• Equity at exit: $116,442

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 24317

• Home prices YoY: 1.6%
• Active inventory: 31
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,338 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$81 /mo · $969/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-156

Break-even live

Break-even rent $1,535

Max offer price $172,452

Occupancy floor —

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 25 events

1. 2026-06-19
   days on market $200,000 Active 146 DOM
2. 2026-06-18
   days on market $200,000 Active 145 DOM
3. 2026-06-17
   days on market $200,000 Active 144 DOM
4. 2026-06-16
   days on market $200,000 Active 143 DOM
5. 2026-06-15
   days on market $200,000 Active 142 DOM
6. 2026-06-14
   days on market $200,000 Active 140 DOM
7. 2026-06-12
   days on market $200,000 Active 139 DOM
8. 2026-06-09
   days on market $200,000 Active 136 DOM
9. 2026-06-08
   days on market $200,000 Active 135 DOM
10. 2026-06-07
    days on market $200,000 Active 134 DOM
11. 2026-06-05
    days on market $200,000 Active 131 DOM
12. 2026-06-02
    days on market $200,000 Active 129 DOM
13. 2026-06-01
    days on market $200,000 Active 128 DOM
14. 2026-05-31
    days on market $200,000 Active 127 DOM
15. 2026-05-30
    days on market $200,000 Active 126 DOM
16. 2026-05-06
    price $210,000

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

17. 2026-05-06
    price $210,000 1183-char remark

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

18. 2026-04-03
    price $220,000 1183-char remark

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

19. 2026-04-03
    price $220,000

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

20. 2026-02-27
    price $225,000 1183-char remark

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

21. 2026-02-27
    price $225,000

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

22. 2026-01-24
    listed $235,000 Active

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

23. 2026-01-24
    listed $235,000 Active 1183-char remark

    Show marketing remark (1183 chars)

    With over 2.5 acres, this 3-bedroom, 2-bath brick ranch with a full basement with another unfinished bath, offers space, character, and plenty of opportunity. The home features a sunroom filled with natural light, a sitting room, living room, den, dining room, and a large kitchen, providing a variety of spaces to suit everyday living, entertaining, or future customization. The home has been well maintained over the years, though it does need updates and some TLC, making it an excellent opportunity for buyers who want to add value and personalize a home to fit their style and needs. With generous square footage and multiple living areas, there is truly a lot to work with. Outside, the 2.5+ acre lot offers room for gardening, outdoor activities, or simply enjoying the peace and quiet of country living. Conveniently located just 2 miles from Interstate 77, with nearby gas and dining options, and a short drive to the Blue Ridge Parkway, Mount Airy, and Hillsville, where shopping, dining, healthcare, and everyday amenities are just 6–12 miles away. This property offers space, location, and potential—a solid home on a beautiful lot ready for its next chapter.

24. 2024-06-26
    price $235,000
25. 2024-06-03
    listed $240,000 Active

ⓘ 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: $969 · $81/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$671/yr (+$56/mo · 69.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 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: $16,055
• − Mortgage interest: −$11,203
• − Property taxes: −$969
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$5,818
• Taxable loss: −$5,504
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $-550/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: Carroll County Public School District
• NCES district ID: 5100690
• Math proficiency: 60% ▼ -25.00%
• Reading proficiency: 70% ▼ -10.00%
• Median HH income: $36,359
• Composite: 53.88/100
• National rank: #1406
• State rank: #46 of 131 in VA

Livability — Cana

• Score: 65/100
• State rank: #330
• US rank: #12577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,559

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 28,768 people
• By 2030: 27,909 · -3.0%
• By 2040: 25,788 · -10.4%
• By 2050: 23,522 · -18.2%
• By 2075: 19,045 · -33.8%
• By 2100: 14,801 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Italian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -30.9pp toward R · 2008: -32.4pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+62.7 2016: R+59.6 2012: R+39.4 2008: R+32.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.12%
• Current HPI: 135.4382
• 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

-12.5% since first listed

10 events — show timeline

• 2026-05-06 Price Changed $210,000 Triad MLS
• 2026-05-06 Price Changed $210,000 SWVAR
• 2026-04-03 Price Changed $220,000 SWVAR
• 2026-04-03 Price Changed $220,000 Triad MLS
• 2026-02-27 Price Changed $225,000 SWVAR
• 2026-02-27 Price Changed $225,000 Triad MLS
• 2026-01-24 Listed $235,000 SWVAR
• 2026-01-24 Listed $235,000 Triad MLS
• 2024-06-26 Price Changed $235,000 SWVAR
• 2024-06-03 Listed $240,000 SWVAR

Property tax history

+1.3%/yr

Latest (2025): $969 · +35.7% YoY. Source: county tax records.