247 Piney Mountain Rd · Ivanhoe, VA 24382

$99,500

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 121 Days on market

Built 1946 0.35 ac lot $73/sqft · 49% below area Est $195k · 49% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +6.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

Key facts

• Charming rural home
• Quiet rural setting
• Functional layout

Tags

• QUIET RURAL SETTING
• FUNCTIONAL LAYOUT
• CHARMING RURAL HOME

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#509 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Sheffey Elementary (math 62% / reading 72%, grade B+, #381 of 1,108 statewide, top 36%, 243 students, 74% FRL); Fort Chiswell Middle (math 70% / reading 83%, grade A, #40 of 342 statewide, top 12%, 316 students, 74% FRL); Fort Chiswell High (math 52% / reading 72%, grade B-, #231 of 319 statewide, top 75%, 435 students, 73% FRL) — zoned schools average 74% FRL vs 41% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $100k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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 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: 1.49% ✓
• Cap rate: 12.99%
• Cash-on-cash: 23.91%
• DSCR: 2.06
• GRM: 5.6

CMA / ARV

• ARV (median comp): $195,000
• List price: $99,500
• Delta: -48.97%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
194 Timberland Dr	0.66mi	3/2.0	1,540 (+13%)	23mo	$380,000	$247	24

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

Projected returns pro-forma

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

5-year hold

• IRR: 17.1%
• Equity multiple: 1.69×
• Total profit: $19,209
• Equity at exit: $14,836

10-year hold

• IRR: 25.6%
• Equity multiple: 3.23×
• Total profit: $62,158
• Equity at exit: $8,603

Cash invested: $27,860 (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 24382

• Home prices YoY: -25.7%
• Active inventory: 156
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $555

Break-even live

Break-even rent $776

Max offer price $99,500

Occupancy floor 57%

Sensitivity live

Price	-10% $611	-5% $583	+0% $555	+5% $527	+10% $499
Rent	-10% $438	-5% $497	+0% $555	+5% $614	+10% $672
Rate	-1.0pp $605	-0.5pp $580	base $555	+0.5pp $529	+1.0pp $503

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   statusdays on market $99,500 Pending 121 DOM
2. 2026-06-18
   days on market $99,500 Active 119 DOM
3. 2026-06-17
   days on market $99,500 Active 118 DOM
4. 2026-06-16
   days on market $99,500 Active 117 DOM
5. 2026-06-15
   days on market $99,500 Active 116 DOM
6. 2026-06-15
   days on market $99,500 Active 115 DOM
7. 2026-06-13
   days on market $99,500 Active 114 DOM
8. 2026-06-12
   pricedays on market $99,500 Active 113 DOM
9. 2026-06-09
   days on market $114,000 Active 110 DOM
10. 2026-06-08
    days on market $114,000 Active 109 DOM
11. 2026-06-08
    days on market $114,000 Active 108 DOM
12. 2026-06-07
    days on market $114,000 Active 107 DOM
13. 2026-06-03
    days on market $114,000 Active 104 DOM
14. 2026-06-02
    days on market $114,000 Active 103 DOM
15. 2026-06-01
    days on market $114,000 Active 102 DOM
16. 2026-05-31
    days on market $114,000 Active 101 DOM
17. 2026-05-17
    price $114,000 688-char remark

    Show marketing remark (688 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

18. 2026-04-10
    price $114,900 688-char remark

    Show marketing remark (688 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

19. 2026-03-12
    status Active 688-char remark

    Show marketing remark (688 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

20. 2026-03-02
    status Pending 688-char remark

    Show marketing remark (688 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

21. 2026-02-08
    listed $119,900 Active 688-char remark

    Show marketing remark (688 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER. Fixer-Upper Opportunity in a Quiet Rural Setting. This 3-bedroom, 1-bath home offers peaceful country living with room to make it your own. This is a great opportunity for investors, renovators, or buyers looking to create their own country retreat. The home features a functional layout and classic character, just waiting to be brought back to life. This property has strong potential for those with vision and the willingness to restore it. The property is being sold as-is. Bring your creativity, tools, and imagination to unlock the full potential of this charming rural home. Conveniently located just minutes from Interstate 77 and 81.

22. 2010-08-11
    soldstatus $65,000

ⓘ 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: $593 · $49/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$223/yr (+$19/mo · 37.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 22 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: $17,739
• − Mortgage interest: −$5,574
• − Property taxes: −$593
• − Insurance: −$498
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$2,895
• Taxable income: $5,342
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $5,379/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: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Ivanhoe

• Score: 56/100
• State rank: #509
• US rank: #22729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,751

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 191.6387
• 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

+75.4% since first listed

6 events — show timeline

• 2026-05-17 Price Changed $114,000 NRVMLS
• 2026-04-10 Price Changed $114,900 NRVMLS
• 2026-03-12 Relisted — NRVMLS
• 2026-03-02 Pending — NRVMLS
• 2026-02-08 Listed $119,900 NRVMLS
• 2010-08-11 Sold (Public Records) $65,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $593 · +0.0% YoY. Source: county tax records.