68 Augusta Springs Rd · Augusta Springs, VA 24401

$60,000

3 bd · None ba · 1,700 sqft · SingleFamily · 15 Days on market

Built 1890 Poor condition 6,098 sqft lot

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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
• Schools +5.3/10.0
• Rent growth +3.9/5.0
• Livability +2.2/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

BLANK SLATE TO MAKE YOUR DREAMS HAPPEN! What was once a church is now emptied and waiting to be brought back to life! Since closing it has been used primarily for storage but was at one time utilized as location for a online store! with the multiple rooms you can team up and bring a multitude of opportunities into this unique building!

Key facts

• Covered front porch
• Large chicken coop
• 6,098 sq ft lot

Tags

• COVERED FRONT PORCH
• LARGE FLAT FULLY FENCED YARD
• PICTURESQUE RUNNING CREEK
• LARGE CHICKEN COOP

Property features AI

Exterior

• Utilities: Public water; Cable available; Satellite internet available
• Home design: Detached single-story home; Above-grade finished area reported as 1,700 (owner provided)
• Construction: Stick-built construction; Brick/mortar foundation
• Exterior features: Lot approximately 0.14 acres

Interior

• Bedrooms: Primary bathroom on the first level; Bonus room on the first level; Exercise room on the first level; Office on the first level; Study on the first level; Great room on the first level
• Heating & cooling: Oil heating
• Interior features: Primary bedroom located downstairs; Home office

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath single-family listed at $60k. Condition is rated poor.

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 ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 44/100 on livability (#567 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Augusta County Public School District (rural): math 55% / reading 69% proficiency, ranked #52 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Craigsville Elementary (math 37% / reading 37%, grade F, #933 of 1,108 statewide, top 86%, 146 students, 100% FRL); Buffalo Gap High (math 87% / reading 77%, grade A, #40 of 319 statewide, top 15%, 435 students, 39% FRL) — zoned schools average 69% FRL vs 32% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.8%/yr); 297 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.89% ✓
• Cap rate: 25.42%
• Cash-on-cash: 68.31%
• DSCR: 4.04
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.77% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.62×
• Total profit: $27,145
• Equity at exit: $8,946

10-year hold

• IRR: 44.7%
• Equity multiple: 6.19×
• Total profit: $87,158
• Equity at exit: $5,188

Cash invested: $16,800 (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 24401

• Rents YoY: 5.8%
• Active inventory: 297
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $496

Break-even live

Break-even rent $1,108

Max offer price $60,000

Occupancy floor 66%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-21
   price $60,000
2. 2026-05-08
   listed $275,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $20,826
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$5,825
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$1,745
• Taxable income: $5,662
• Est. tax owed @ 24.0%: −$1,359
• After-tax cash flow: $4,593/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This former church building requires extensive renovation to bring it back to life, with major repairs needed to the exterior and landscaping. Updates to the exterior and HVAC would significantly increase its value.

Repairs flagged

• Major exterior brick — Significant weathering
• Major landscaping — Overgrown vegetation

Value-add opportunities

• Both exterior landscaping — Improves curb appeal and value
• Both exterior painting — Enhances appearance and value
• Both HVAC replacement — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior brick · Significant weathering	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both exterior landscaping — Improves curb appeal and value ↑
• Both exterior painting — Enhances appearance and value ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Augusta County Public School District
• NCES district ID: 5100300
• Math proficiency: 55% ▼ -29.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $53,562
• Composite: 53.02/100
• National rank: #1521
• State rank: #52 of 131 in VA

Livability — Augusta Springs

• Score: 44/100
• State rank: #567
• US rank: #26743

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Augusta Springs, VA
• County: Staunton City · 38,756 people
• City population: 3
• Metro: Staunton, VA
• Population (ZIP): 38,756
• Household income: $66,300
• Rent vs Own: 34.7% rent · 65.3% own
• Severe rent burden: 1306.0

Population outlook (Augusta County) Hauer SSP2

• Today (2025): 77,558 people
• By 2030: 78,389 · +1.1%
• By 2040: 78,629 · +1.4%
• By 2050: 77,171 · -0.5%
• By 2075: 74,455 · -4.0%
• By 2100: 65,077 · -16.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 3% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 0%

Political lean MEDSL · Augusta

• 2024 margin: Solid R (+47.5) · D 25.8% · R 73.3%
• 2008→2024 swing: -7.7pp toward R · 2008: -39.9pp · 2024: -47.5pp
• All cycles: 2024: R+47.5 2020: R+47.0 2016: R+49.2 2012: R+42.1 2008: R+39.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.01%
• Current HPI: 210.049
• Rent YoY: ▲ 5.77%
• Metro: Staunton, VA
• 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

-78.2% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $60,000 GAAR
• 2026-05-08 Listed $275,000 GAAR