18 Lee St · Bland, VA 24315

$125,000

3 bd · 1.0 ba · 1,311 sqft · SingleFamily public records · 42 Days on market

Built 1952 0.50 ac lot $95/sqft · at area comps Est $128k · at est.

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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 +19.8/30.0
• ARV discount +8.4/15.0
• Appreciation +7.7/10.0
• DSCR +6.3/10.0
• Schools +6.0/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

THIS CUTE COTTAGE IS CONVEINTLY LOCATED IN A SMALL HISTORICAL TOWN OF BLAND VIRGINIA!! IN THE HEART OF BEAUTIFUL SOUTHWEST VIRGINIA! ENJOY THE TRANQUILTY OF A SMALL STREAM AND YET WITHIN WALKING DISTANCE TO MAIN STREET!!

Key facts

• 0.5 acre lot
• Built 1952
• Listed 41 days

Tags

• TRANQUILITY OF A SMALL STREAM

Property features AI

Exterior

• Utilities: Public water; Public sewer; Propane available
• Home design: Single-family residence; One story
• Construction: Brick construction; Metal roof
• Exterior features: Deck; Cleared corner lot; Level lot; Waterfront on a creek

Interior

• Kitchen: Electric range; Dishwasher
• Flooring: Tile; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Oil heating; Propane heating
• Interior features: Insulated windows; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (9.6% below list).
• Recommended offer: $96k (23.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#202 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Bland County Public School District (rural): math 62% / reading 80% proficiency, ranked #23 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Bland County Elementary (math 57% / reading 72%, grade B, #416 of 1,108 statewide, top 41%, 371 students, 67% FRL); Bland County High (math 62% / reading 87%, grade B+, #107 of 319 statewide, top 37%, 425 students, 68% FRL) — zoned schools average 67% FRL vs 32% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 21 active listings in the ZIP; 8 units permitted in Bland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $7k appreciation (5.3% local appreciation)).
• Bland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, 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 42 days — a 3% lower offer ($121k) 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.
• Current owner paid $16k; list at $125k implies a 681% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,999 (23.2% 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 42 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.90% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 9.2

CMA / ARV

• ARV (median comp): $127,688
• List price: $125,000
• Delta: -2.11%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 3rd St	0.07mi	2/1.0 (-1)	1,225 (-7%)	1mo	$166,000	$136	80
450 Seddon St	0.09mi	2/1.0 (-1)	1,200 (-8%)	21mo	$85,000	$71	59

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

Projected returns pro-forma

5.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.59×
• Total profit: $20,672
• Equity at exit: $73,157

10-year hold

• IRR: 10.7%
• Equity multiple: 3.02×
• Total profit: $70,831
• Equity at exit: $128,220

Cash invested: $35,000 (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 24315

• Home prices YoY: 3.3%
• Active inventory: 21
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$52
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-164

Break-even live

Break-even rent $1,338

Max offer price $95,999

Occupancy floor —

Sensitivity live

Price	-10% $-93	-5% $-129	+0% $-164	+5% $-200	+10% $-235
Rent	-10% $-253	-5% $-209	+0% $-164	+5% $-120	+10% $-75
Rate	-1.0pp $-101	-0.5pp $-132	base $-164	+0.5pp $-197	+1.0pp $-230

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-22
   days on market $125,000 Active 42 DOM
2. 2026-06-21
   days on market $125,000 Active 41 DOM
3. 2026-06-19
   days on market $125,000 Active 39 DOM
4. 2026-06-18
   days on market $125,000 Active 38 DOM
5. 2026-06-17
   days on market $125,000 Active 37 DOM
6. 2026-06-16
   days on market $125,000 Active 36 DOM
7. 2026-06-15
   days on market $125,000 Active 35 DOM
8. 2026-06-14
   status $125,000 Active 33 DOM
9. 2026-04-23
   listed $125,000 Active 220-char remark
10. 1988-05-09
    soldstatus $16,000

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$596/yr (+$50/mo · 138.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $13,563
• − Mortgage interest: −$7,002
• − Property taxes: −$429
• − Insurance: −$4,390
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$3,636
• Taxable loss: −$4,064
• Est. tax savings @ 24.0%: +$975
• After-tax cash flow: $-995/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: Bland County Public School District
• NCES district ID: 5100390
• Math proficiency: 62% ▼ -25.00%
• Reading proficiency: 80% ▬ 0.00%
• Median HH income: $44,048
• Composite: 59.56/100
• National rank: #917
• State rank: #23 of 131 in VA

Livability — Bland

• Score: 72/100
• State rank: #202
• US rank: #6245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bland, VA
• Population (ZIP): 3,789

Population outlook (Bland County) Hauer SSP2

• Today (2025): 6,172 people
• By 2030: 5,928 · -4.0%
• By 2040: 5,402 · -12.5%
• By 2050: 4,926 · -20.2%
• By 2075: 4,051 · -34.4%
• By 2100: 3,028 · -50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 6% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Bland

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.5%
• 2008→2024 swing: -30.3pp toward R · 2008: -39.4pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+67.8 2012: R+48.0 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.30%
• Current HPI: 166.2616
• 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

+681.2% since first listed

4 events — show timeline

• 2026-06-13 Relisted — SWVAR
• 2026-05-26 Pending — SWVAR
• 2026-04-23 Listed $125,000 SWVAR
• 1988-05-09 Sold (Public Records) $16,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $429 · +0.0% YoY. Source: county tax records.