7006 Gate City Hwy · Bristol, VA 24202

$185,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 54 Days on market

Built 1950 18 ac lot $198/sqft · 58% above area

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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 +18.5/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• DSCR +5.8/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer-upper with big potential in Bristol; the home is in Washington County so no city taxes!. This 3-bedroom, 1-bath ranch sits on 18 acres and offers incredible opportunity for investors and visionaries. With ample land to build additional homes and close proximity to the hospital, this property is ideal for creating rental units for traveling medical professionals or long-term income. Renovate the existing home and expand your investment. The Hard Rock Casino Bristol is only 1.4 miles away as well. Don't miss this unique opportunity!

Key facts

• 18 acres
• 18 acre lot
• Built 1950

Tags

• 18 ACRES
• CLOSE PROXIMITY TO HOSPITAL

Property features AI

Finance

• Other: 18-acre lot
• Financial info: No financial details provided
• HOA & community: Not in a subdivision

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; No sewer or power details provided
• Home design: Single-family house; Residential property; Agricultural, General zoning
• Construction: Vinyl siding and plaster construction; Shingle roof; Built year not provided
• Exterior features: Wooded topography

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Window air conditioning units
• Interior features: 5 total rooms
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/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 $160k (13.5% below list).
• Recommended offer: $160k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment 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: Valley Institute Elementary (math 52% / reading 67%, grade B-, #536 of 1,108 statewide, top 51%, 277 students, 80% FRL); Wallace Middle (math 74% / reading 80%, grade A, #38 of 342 statewide, top 11%, 426 students, 65% FRL); John S. Battle High (math 67% / reading 82%, grade B+, #107 of 319 statewide, top 37%, 659 students, 65% FRL) — zoned schools average 70% FRL vs 42% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 54 days — a 3% lower offer ($179k) 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000 (13.5% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. Crime grade is F 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?
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: 0.86% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (median comp): $116,897
• List price: $185,000
• Delta: 58.26%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-18,777
• Equity at exit: $27,584

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,187
• Equity at exit: $15,995

Cash invested: $51,800 (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 24202

• Home prices YoY: -30.0%
• Active inventory: 156
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $177

Break-even live

Break-even rent $1,376

Max offer price $185,000

Occupancy floor 84%

Sensitivity live

Price	-10% $282	-5% $230	+0% $177	+5% $125	+10% $73
Rent	-10% $51	-5% $114	+0% $177	+5% $241	+10% $304
Rate	-1.0pp $271	-0.5pp $224	base $177	+0.5pp $129	+1.0pp $81

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2505 Catherine St Bristol, VA	2.0	1.0	849	$1,600	$1.88	15d	1	1.36mi

Listing history 18 events

1. 2026-06-22
   days on market $185,000 Active 54 DOM
2. 2026-06-19
   days on market $185,000 Active 52 DOM
3. 2026-06-18
   days on market $185,000 Active 51 DOM
4. 2026-06-17
   days on market $185,000 Active 50 DOM
5. 2026-06-16
   days on market $185,000 Active 49 DOM
6. 2026-06-15
   days on market $185,000 Active 48 DOM
7. 2026-06-14
   days on market $185,000 Active 46 DOM
8. 2026-06-13
   days on market $185,000 Active 45 DOM
9. 2026-06-10
   days on market $185,000 Active 43 DOM
10. 2026-06-09
    days on market $185,000 Active 42 DOM
11. 2026-06-08
    days on market $185,000 Active 41 DOM
12. 2026-06-07
    days on market $185,000 Active 40 DOM
13. 2026-06-02
    days on market $185,000 Active 35 DOM
14. 2026-06-01
    days on market $185,000 Active 34 DOM
15. 2026-05-31
    days on market $185,000 Active 33 DOM
16. 2026-05-30
    days on market $185,000 Active 32 DOM
17. 2026-04-27
    listed $185,000 Active 542-char remark

    Show marketing remark (542 chars)

    Fixer-upper with big potential in Bristol; the home is in Washington County so no city taxes!. This 3-bedroom, 1-bath ranch sits on 18 acres and offers incredible opportunity for investors and visionaries. With ample land to build additional homes and close proximity to the hospital, this property is ideal for creating rental units for traveling medical professionals or long-term income. Renovate the existing home and expand your investment. The Hard Rock Casino Bristol is only 1.4 miles away as well. Don't miss this unique opportunity!

18. 2026-04-27
    listed $185,000 Active 542-char remark

    Show marketing remark (542 chars)

    Fixer-upper with big potential in Bristol; the home is in Washington County so no city taxes!. This 3-bedroom, 1-bath ranch sits on 18 acres and offers incredible opportunity for investors and visionaries. With ample land to build additional homes and close proximity to the hospital, this property is ideal for creating rental units for traveling medical professionals or long-term income. Renovate the existing home and expand your investment. The Hard Rock Casino Bristol is only 1.4 miles away as well. Don't miss this unique opportunity!

ⓘ 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: $473 · $39/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$1,044/yr (+$87/mo · 220.8%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$10,363
• − Property taxes: −$473
• − Insurance: −$925
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,382
• Taxable loss: −$1,015
• Est. tax savings @ 24.0%: +$244
• After-tax cash flow: $2,372/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 — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 16,039
• Population (ZIP): 12,324

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Portuguese 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 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: ▼ -78.07%
• Current HPI: 182.4415
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-27 Listed $185,000 SWVAR
• 2026-04-27 Listed $185,000 TVRMLS

Property tax history

+3.1%/yr

Latest (2026): $473 · +0.0% YoY. Source: county tax records.