1148 Russell Hill St · Grundy, VA 24614

$63,500

3 bd · 1.5 ba · 1,344 sqft · Other public records · 107 Days on market

Built 1948 9,583 sqft lot $47/sqft · 44% below area Est $113k · 44% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Appreciation +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fixer-Upper Opportunity in Buchanan County, VA -- Looking for a project with potential? This 4-bedroom, 1-bath home located in Buchanan County, Virginia, just off Rt. 460, offers a great opportunity for investors, flippers, or buyers looking to create their own mountain retreat. Situated in a quiet rural setting surrounded by nature, the home features a spacious layout with four bedrooms, one full bath, and a cellar-style basement that provides additional storage or workshop space. A large open deck area (approx. 800 sqft) offers the potential to create a relaxing outdoor living space overlooking the peaceful wooded surroundings. The home is in need of repairs and updates and is being sold as-is, but several building materials currently inside the home will convey with the sale, giving the next owner a head start on renovations. With some vision and work, this property could be transformed into a charming mountain getaway, rental property, or full-time residence. Conveniently located just minutes from Rt. 460, providing access to nearby towns, shopping, and amenities while still enjoying the privacy of the Appalachian mountains. Bring your tools and imagination — the potential is here!

Key facts

• Quiet rural setting
• Spacious layout
• Large open deck

Tags

• QUIET RURAL SETTING
• SPACIOUS LAYOUT
• CELLAR-STYLE BASEMENT
• LARGE OPEN DECK
• PEACEFUL WOODED SURROUNDINGS
• ACCESS TO NEARBY TOWNS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $64k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#309 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F, health & safety F.
• Buchanan County Public School District (rural): math 52% / reading 65% proficiency, ranked #76 of 131 in VA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 27 active listings in the ZIP; 12 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $439 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Buchanan County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $14k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,785 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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 B-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?
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: 1.89% ✓
• Cap rate: 17.03%
• Cash-on-cash: 38.35%
• DSCR: 2.71
• GRM: 4.4

CMA / ARV

• ARV (median comp): $113,223
• List price: $63,500
• Delta: -43.92%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.4%
• Equity multiple: 2.46×
• Total profit: $25,884
• Equity at exit: $9,468

10-year hold

• IRR: 41.3%
• Equity multiple: 4.88×
• Total profit: $69,072
• Equity at exit: $5,490

Cash invested: $17,780 (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 24614

• Home prices YoY: -3.0%
• Active inventory: 27
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$333
• Tax from tax record: −$22 /mo · $269/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $568

Break-even live

Break-even rent $483

Max offer price $63,500

Occupancy floor 48%

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: $15,875
• Closing costs: $1,905
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $63,500 Active 107 DOM
2. 2026-06-17
   days on market $63,500 Active 106 DOM
3. 2026-06-16
   days on market $63,500 Active 105 DOM
4. 2026-06-15
   days on market $63,500 Active 104 DOM
5. 2026-06-15
   days on market $63,500 Active 103 DOM
6. 2026-06-13
   days on market $63,500 Active 102 DOM
7. 2026-06-12
   days on market $63,500 Active 101 DOM
8. 2026-06-09
   days on market $63,500 Active 98 DOM
9. 2026-06-08
   days on market $63,500 Active 97 DOM
10. 2026-06-08
    days on market $63,500 Active 96 DOM
11. 2026-06-07
    days on market $63,500 Active 95 DOM
12. 2026-06-03
    days on market $63,500 Active 92 DOM
13. 2026-06-02
    pricedays on market $63,500 Active 91 DOM
14. 2026-06-01
    days on market $72,000 Active 90 DOM
15. 2026-05-31
    days on market $72,000 Active 89 DOM
16. 2026-04-16
    price $72,000 1210-char remark

    Show marketing remark (1210 chars)

    Fixer-Upper Opportunity in Buchanan County, VA -- Looking for a project with potential? This 4-bedroom, 1-bath home located in Buchanan County, Virginia, just off Rt. 460, offers a great opportunity for investors, flippers, or buyers looking to create their own mountain retreat. Situated in a quiet rural setting surrounded by nature, the home features a spacious layout with four bedrooms, one full bath, and a cellar-style basement that provides additional storage or workshop space. A large open deck area (approx. 800 sqft) offers the potential to create a relaxing outdoor living space overlooking the peaceful wooded surroundings. The home is in need of repairs and updates and is being sold as-is, but several building materials currently inside the home will convey with the sale, giving the next owner a head start on renovations. With some vision and work, this property could be transformed into a charming mountain getaway, rental property, or full-time residence. Conveniently located just minutes from Rt. 460, providing access to nearby towns, shopping, and amenities while still enjoying the privacy of the Appalachian mountains. Bring your tools and imagination — the potential is here!

17. 2026-03-03
    listed $77,500 Active 1210-char remark

    Show marketing remark (1210 chars)

    Fixer-Upper Opportunity in Buchanan County, VA -- Looking for a project with potential? This 4-bedroom, 1-bath home located in Buchanan County, Virginia, just off Rt. 460, offers a great opportunity for investors, flippers, or buyers looking to create their own mountain retreat. Situated in a quiet rural setting surrounded by nature, the home features a spacious layout with four bedrooms, one full bath, and a cellar-style basement that provides additional storage or workshop space. A large open deck area (approx. 800 sqft) offers the potential to create a relaxing outdoor living space overlooking the peaceful wooded surroundings. The home is in need of repairs and updates and is being sold as-is, but several building materials currently inside the home will convey with the sale, giving the next owner a head start on renovations. With some vision and work, this property could be transformed into a charming mountain getaway, rental property, or full-time residence. Conveniently located just minutes from Rt. 460, providing access to nearby towns, shopping, and amenities while still enjoying the privacy of the Appalachian mountains. Bring your tools and imagination — the potential is here!

18. 2016-11-03
    soldstatus $55,000 631-char remark

    Show marketing remark (631 chars)

    CONVENIENT & SECLUDED DESCRIBE THIS CHARMING 3 BR, 1 BA, HOME. LOCATED IN TOWN LIMITS, THIS VERY NICE MOVE-IN-READY OLDER HOME IS PERFECT FOR A STARTER HOME, OR FOR ANYONE WHO LOVES THE CONVENIENCE OF BEING CLOSE TO SHOPPING, SCHOOLS, ETC. . THE HOUSE IS CONSTRUCTED MOSTLY OF STONE W/ SOME SIDING, & HAS FANTASTIC DECKING AROUND THE FRONT & SIDE - THERE'S EVEN A PORCH SWING - & THE VIEW IS GREAT. ORIGINAL HARDWOOD, & SOME LAMINATE FLOORING; DOUBLE-PANE REPLACEMENT WINDOWS; & NEWER HEAT PUMP FOR CENTRAL HEATING & COOLING. PUBLIC WATER & SEWER A PLUS. IT'S WAITING FOR A NEW OWNER!

19. 2016-06-15
    listed $64,900 631-char remark

    Show marketing remark (631 chars)

    CONVENIENT & SECLUDED DESCRIBE THIS CHARMING 3 BR, 1 BA, HOME. LOCATED IN TOWN LIMITS, THIS VERY NICE MOVE-IN-READY OLDER HOME IS PERFECT FOR A STARTER HOME, OR FOR ANYONE WHO LOVES THE CONVENIENCE OF BEING CLOSE TO SHOPPING, SCHOOLS, ETC. . THE HOUSE IS CONSTRUCTED MOSTLY OF STONE W/ SOME SIDING, & HAS FANTASTIC DECKING AROUND THE FRONT & SIDE - THERE'S EVEN A PORCH SWING - & THE VIEW IS GREAT. ORIGINAL HARDWOOD, & SOME LAMINATE FLOORING; DOUBLE-PANE REPLACEMENT WINDOWS; & NEWER HEAT PUMP FOR CENTRAL HEATING & COOLING. PUBLIC WATER & SEWER A PLUS. IT'S WAITING FOR A NEW OWNER!

ⓘ 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: $269 · $22/mo
• Projected year-2 tax: $521 · $43/mo
• Expected delta: +$252/yr (+$21/mo · 93.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 23 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: $14,432
• − Mortgage interest: −$3,557
• − Property taxes: −$269
• − Insurance: −$318
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$1,847
• Taxable income: $6,132
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $5,347/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: Buchanan County Public School District
• NCES district ID: 5100510
• Math proficiency: 52% ▼ -27.00%
• Reading proficiency: 65% ▼ -7.00%
• Median HH income: $29,669
• Composite: 47.84/100
• National rank: #2221
• State rank: #76 of 131 in VA

Livability — Grundy

• Score: 67/100
• State rank: #309
• US rank: #11111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grundy, VA
• Population (ZIP): 6,992

Population outlook (Buchanan County) Hauer SSP2

• Today (2025): 20,160 people
• By 2030: 18,734 · -7.1%
• By 2040: 16,071 · -20.3%
• By 2050: 13,815 · -31.5%
• By 2075: 10,376 · -48.5%
• By 2100: 8,432 · -58.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Black 1%
• Common ancestry: Italian 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Buchanan

• 2024 margin: Solid R (+70.6) · D 14.5% · R 85.1%
• 2008→2024 swing: -65.1pp toward R · 2008: -5.5pp · 2024: -70.6pp
• All cycles: 2024: R+70.6 2020: R+67.6 2016: R+60.4 2012: R+34.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.05%
• Current HPI: 97.3351
• 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

+10.9% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $72,000 SWVAR
• 2026-03-03 Listed $77,500 SWVAR
• 2016-11-03 Sold (MLS) $55,000 SWVAR
• 2016-06-15 Listed $64,900 SWVAR

Property tax history

+1.0%/yr

Latest (2024): $269 · +0.0% YoY. Source: county tax records.