230 Madison St · Abingdon, VA 24210

$175,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 35 Days on market

Built 1964 0.25 ac lot Est $176k · 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 +21.6/30.0
• ARV discount +7.8/15.0
• DSCR +6.9/10.0
• Schools +6.2/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient, Low maintenance living in the heart of Abingdon. Off the front porch you have a view of courthouse hill, short walking distance to VA creeper trail and Main St. This home is awaiting it's new buyer. .with new luxury vinyl flooring, refinished hardwood floors, glass tile backsplash, new range/stove and stainless steel hood, New sink, faucet. New heat pump in 2019, New roof in 2017, new lighting, 6ft privacy fence around the back deck and so much more! This 3 bedroom 1 bath home is sure to check all the boxes. This one won't last long as it's ready to go! Schedule your showing today.

Key facts

• 0.25 acre lot
• Built 1964
• Listed 35 days

Property features AI

Finance

• Other: Zoning: R3

Exterior

• Parking: Asphalt parking; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family house; One story
• Construction: Frame construction with vinyl siding; Asphalt roof
• Exterior features: Deck; Side porch; Cleared, sloped topography

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total of 5 rooms (includes living spaces and bedrooms)
• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Eat-in kitchen; Insulated windows; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/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 $165k (5.6% below list).
• Recommended offer: $165k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.1% in Abingdon — 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 80/100 on livability (#59 in VA, #1,691 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, commute F.
• Washington County Public School District (rural): math 68% / reading 79% proficiency, ranked #15 of 131 in VA (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Abingdon Elementary (math 66% / reading 77%, grade A-, #299 of 1,108 statewide, top 27%, 423 students, 70% FRL); E.B. Stanley Middle (math 68% / reading 82%, grade A, #49 of 342 statewide, top 14%, 643 students, 66% FRL); Abingdon High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 867 students, 65% FRL) — zoned schools average 67% FRL vs 42% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 99 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago 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 $115k; list at $175k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,126 (5.6% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $176,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
379 Oakland St	0.63mi	3/1.0	967 (-3%)	12mo	$169,900	$176	55
458 Trigg St	0.59mi	3/1.0	1,089 (+9%)	6mo	$45,000	$41	53
245 Bradley St	0.60mi	2/2.0 (-1)	1,100 (+10%)	6mo	$247,400	$225	41

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-11,537
• Equity at exit: $26,093

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $11,391
• Equity at exit: $15,131

Cash invested: $49,000 (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 24210

• Home prices YoY: -29.9%
• Active inventory: 161
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,651 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$49 /mo · $582/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $265

Break-even live

Break-even rent $1,315

Max offer price $175,000

Occupancy floor 79%

Sensitivity live

Price	-10% $364	-5% $315	+0% $265	+5% $216	+10% $166
Rent	-10% $135	-5% $200	+0% $265	+5% $331	+10% $396
Rate	-1.0pp $353	-0.5pp $310	base $265	+0.5pp $220	+1.0pp $174

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
628 Locust St NW Abingdon, VA	3.0	1.0	980	$1,750	$1.79	14d	1	1.39mi

Listing history 11 events

1. 2026-05-22
   status Pending
2. 2026-05-20
   status Active
3. 2026-04-18
   historical Active Under Contract
4. 2026-04-17
   listed $175,000 Active
5. 2020-04-23
   soldstatus $115,000 600-char remark

   Show marketing remark (600 chars)

   Convenient, Low maintenance living in the heart of Abingdon. Off the front porch you have a view of courthouse hill, short walking distance to VA creeper trail and Main St. This home is awaiting it's new buyer. .with new luxury vinyl flooring, refinished hardwood floors, glass tile backsplash, new range/stove and stainless steel hood, New sink, faucet. New heat pump in 2019, New roof in 2017, new lighting, 6ft privacy fence around the back deck and so much more! This 3 bedroom 1 bath home is sure to check all the boxes. This one won't last long as it's ready to go! Schedule your showing today.

6. 2020-04-23
   soldstatus $115,000

   Show marketing remark (600 chars)

   Convenient, Low maintenance living in the heart of Abingdon. Off the front porch you have a view of courthouse hill, short walking distance to VA creeper trail and Main St. This home is awaiting it's new buyer. .with new luxury vinyl flooring, refinished hardwood floors, glass tile backsplash, new range/stove and stainless steel hood, New sink, faucet. New heat pump in 2019, New roof in 2017, new lighting, 6ft privacy fence around the back deck and so much more! This 3 bedroom 1 bath home is sure to check all the boxes. This one won't last long as it's ready to go! Schedule your showing today.

7. 2020-03-04
   listed $116,000 600-char remark

   Show marketing remark (600 chars)

   Convenient, Low maintenance living in the heart of Abingdon. Off the front porch you have a view of courthouse hill, short walking distance to VA creeper trail and Main St. This home is awaiting it's new buyer. .with new luxury vinyl flooring, refinished hardwood floors, glass tile backsplash, new range/stove and stainless steel hood, New sink, faucet. New heat pump in 2019, New roof in 2017, new lighting, 6ft privacy fence around the back deck and so much more! This 3 bedroom 1 bath home is sure to check all the boxes. This one won't last long as it's ready to go! Schedule your showing today.

8. 2017-03-03
   soldstatus $55,500 234-char remark

   Show marketing remark (234 chars)

   Great Value-Wonderful Location!! This three bedroom ranch with hardwood floors, central heat and air, fully equipped kitchen, lots of decking and outdoor living space is priced to sell. Buyer or buyers agent to verify all information.

9. 2017-03-03
   soldstatus $55,500

   Show marketing remark (234 chars)

   Great Value-Wonderful Location!! This three bedroom ranch with hardwood floors, central heat and air, fully equipped kitchen, lots of decking and outdoor living space is priced to sell. Buyer or buyers agent to verify all information.

10. 2016-09-14
    listed $62,000
11. 2016-09-13
    listed $62,000 234-char remark

    Show marketing remark (234 chars)

    Great Value-Wonderful Location!! This three bedroom ranch with hardwood floors, central heat and air, fully equipped kitchen, lots of decking and outdoor living space is priced to sell. Buyer or buyers agent to verify all information.

ⓘ 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: $582 · $49/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$853/yr (+$71/mo · 146.5%)

ⓘ 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 7 d/yr ≥96°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,815
• − Mortgage interest: −$9,803
• − Property taxes: −$582
• − Insurance: −$875
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$5,091
• Taxable income: $294
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $3,114/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: Washington County Public School District
• NCES district ID: 5103900
• Math proficiency: 68% ▼ -23.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $42,412
• Composite: 61.5/100
• National rank: #754
• State rank: #15 of 131 in VA

Livability — Abingdon

• Score: 80/100
• State rank: #59
• US rank: #1691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abingdon, VA
• County: Washington County · 16,814 people
• City population: 16,814
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 16,814
• Household income: $62,734
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 341.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 53,266 people
• By 2030: 52,284 · -1.8%
• By 2040: 49,415 · -7.2%
• By 2050: 45,683 · -14.2%
• By 2075: 37,258 · -30.1%
• By 2100: 27,983 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 3% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+53.3) · D 23.0% · R 76.3%
• 2008→2024 swing: -20.6pp toward R · 2008: -32.7pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+52.5 2016: R+53.5 2012: R+43.2 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.33%
• Current HPI: 183.4586
• Rent YoY: —
• Metro: Kingsport-Bristol, TN-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

+182.3% since first listed

11 events — show timeline

• 2026-05-22 Pending — TVRMLS
• 2026-05-20 Relisted — TVRMLS
• 2026-04-18 Contingent — TVRMLS
• 2026-04-17 Listed $175,000 TVRMLS
• 2020-04-23 Sold (Public Records) $115,000 Public Records
• 2020-04-23 Sold (MLS) $115,000 SWVAR
• 2020-03-04 Listed $116,000 SWVAR
• 2017-03-03 Sold (MLS) $55,500 SWVAR
• 2017-03-03 Sold (MLS) $55,500 TVRMLS
• 2016-09-14 Listed $62,000 SWVAR
• 2016-09-13 Listed $62,000 TVRMLS

Property tax history

+3.6%/yr

Latest (2026): $582 · +0.0% YoY. Source: county tax records.