419 Adams St · Marion, VA 24354

$145,000

4 bd · 1.0 ba · 1,237 sqft · SingleFamily public records · 352 Days on market

Built 1960 0.90 ac lot $117/sqft · 12% below area Est $196k · 26% under ↓ 6% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

Key facts

• Town pool
• Library
• Porch in the swing

Tags

• TOWN POOL
• LIBRARY
• EMORY AND HENRY UNIVERSITY
• LINE OF HEMLOCK TREES
• PORCH IN THE SWING
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (31.3% below list).
• Recommended offer: $100k (31.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% in Marion — 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 70/100 on livability (#237 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime C-, amenities F, commute D-.
• Smyth County Public School District (rural): math 46% / reading 63% proficiency, ranked #89 of 131 in VA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Marion Elementary (math 37% / reading 62%, grade D, #742 of 1,108 statewide, top 70%, 307 students, 92% FRL); Marion Middle (math 44% / reading 64%, grade B-, #205 of 342 statewide, top 61%, 431 students, 96% FRL); Marion Senior High (math 57% / reading 82%, grade B, #159 of 319 statewide, top 53%, 638 students, 84% FRL) — zoned schools average 91% FRL vs 54% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Smyth 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 $4k of value loss. Plan a longer hold.
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 352 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $99,600 (31.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 352 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.53%
• DSCR: 0.89
• GRM: 12.1

CMA / ARV

• ARV (median comp): $196,098
• List price: $145,000
• Delta: -26.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 W Coyner Ave	0.17mi	4/1.0	1,242 (+0%)	15mo	$167,500	$135	79
714 Scott St	0.27mi	4/1.0	1,256 (+2%)	23mo	$197,500	$157	66
222 W Coyner Ave	0.29mi	3/1.0 (-1)	1,334 (+8%)	7mo	$162,000	$121	63
761 Chatham Hill Rd	0.16mi	3/2.0 (-1)	1,353 (+9%)	8mo	$250,000	$185	62
101 Helms St	0.28mi	3/1.0 (-1)	1,344 (+9%)	15mo	$191,000	$142	55
150 Race Blvd	0.32mi	3/2.0 (-1)	1,308 (+6%)	15mo	$240,000	$183	54
630 Henry St	0.35mi	3/1.0 (-1)	1,172 (-5%)	21mo	$140,000	$119	53
116 Sprinkle Ave	0.42mi	3/2.0 (-1)	1,201 (-3%)	18mo	$171,500	$143	51
856 Hollow Rd	0.69mi	3/2.5 (-1)	1,341 (+8%)	13mo	$185,000	$138	32

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: -20.6%
• Equity multiple: 0.29×
• Total profit: $-29,016
• Equity at exit: $21,620

10-year hold

• IRR: -13.9%
• Equity multiple: 0.20×
• Total profit: $-32,553
• Equity at exit: $12,537

Cash invested: $40,600 (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 24354

• Home prices YoY: -6.8%
• Active inventory: 87
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-86

Break-even live

Break-even rent $1,104

Max offer price $129,870

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-45	+0% $-86	+5% $-127	+10% $-168
Rent	-10% $-164	-5% $-125	+0% $-86	+5% $-46	+10% $-7
Rate	-1.0pp $-13	-0.5pp $-49	base $-86	+0.5pp $-123	+1.0pp $-161

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Marion Manor Dr Marion, VA	2.0–3.0	1.0	886	$996	$1.12	15d	9	0.67mi

Listing history 23 events

1. 2026-06-21
   days on market $145,000 Active 352 DOM
2. 2026-06-21
   days on market $145,000 Active 351 DOM
3. 2026-06-18
   days on market $145,000 Active 349 DOM
4. 2026-06-17
   days on market $145,000 Active 348 DOM
5. 2026-06-16
   days on market $145,000 Active 347 DOM
6. 2026-06-15
   days on market $145,000 Active 346 DOM
7. 2026-06-15
   days on market $145,000 Active 345 DOM
8. 2026-06-13
   days on market $145,000 Active 344 DOM
9. 2026-06-12
   days on market $145,000 Active 343 DOM
10. 2026-06-09
    days on market $145,000 Active 340 DOM
11. 2026-06-08
    days on market $145,000 Active 339 DOM
12. 2026-06-08
    days on market $145,000 Active 338 DOM
13. 2026-06-07
    days on market $145,000 Active 337 DOM
14. 2026-06-03
    days on market $145,000 Active 334 DOM
15. 2026-06-02
    days on market $145,000 Active 333 DOM
16. 2026-06-01
    days on market $145,000 Active 332 DOM
17. 2026-05-31
    days on market $145,000 Active 331 DOM
18. 2026-02-19
    price $145,000 1440-char remark

    Show marketing remark (1440 chars)

    A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

19. 2025-12-05
    status Active 1440-char remark

    Show marketing remark (1440 chars)

    A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

20. 2025-12-05
    price $150,000 1440-char remark

    Show marketing remark (1440 chars)

    A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

21. 2025-10-26
    historical 1440-char remark

    Show marketing remark (1440 chars)

    A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

22. 2025-05-26
    listed $155,000 Active 1440-char remark

    Show marketing remark (1440 chars)

    A must see! This quaint, cute home is located very close to many of Marion's wonderful attractions such as the Hungry Mother State Park, the Lincoln Theatre, the town pool, library, schools, restaurants, shopping, and more. It would be perfect for students attending the Emory and Henry University of Health Sciences located only 1 mile away. This would also be a great starter home or a nice home for a couple who wants to downsize. Although it is located in a residential community, the line of Hemlock trees behind the house provides the property with privacy and seclusion. Enjoy sitting on the porch in the swing and just relax!----There are hardwood floors throughout under the linoleum and carpet except the dining area and the bedroom adjoining the dining area. The room where laundry is located is considered a bedroom but could easily be turned into a 2nd bath or utility room. The bathroom has newly remodeled. The enormous upstairs room could be used as the master bedroom with the connecting storage room turned into a walk in closet. There is a lot of storage area available in the "attic" space on both sides of the upstairs bedroom. Nice ceiling fans are located in most rooms. All appliances are fairly new and convey with the property. The oil tank holds 250 gallons of oil and still has 95 gallons in it. There are new steps leading up to the porch. Mature trees provide a lot of natural shade for the property.

23. 2025-05-24
    listed $155,000 Active

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$569/yr (+$47/mo · 91.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,952
• − Mortgage interest: −$8,122
• − Property taxes: −$620
• − Insurance: −$725
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$4,218
• Taxable loss: −$3,646
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $-153/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: Smyth County Public School District
• NCES district ID: 5103520
• Math proficiency: 46% ▼ -38.00%
• Reading proficiency: 63% ▼ -14.00%
• Median HH income: $36,901
• Composite: 45.2/100
• National rank: #2672
• State rank: #89 of 131 in VA

Livability — Marion

• Score: 70/100
• State rank: #237
• US rank: #7962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, VA
• Population (ZIP): 12,984

Population outlook (Smyth County) Hauer SSP2

• Today (2025): 29,740 people
• By 2030: 28,593 · -3.9%
• By 2040: 26,091 · -12.3%
• By 2050: 23,629 · -20.5%
• By 2075: 18,365 · -38.2%
• By 2100: 13,697 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Smyth

• 2024 margin: Solid R (+60.5) · D 19.4% · R 79.9%
• 2008→2024 swing: -31.4pp toward R · 2008: -29.1pp · 2024: -60.5pp
• All cycles: 2024: R+60.5 2020: R+56.3 2016: R+55.2 2012: R+33.0 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.22%
• Current HPI: 265.5586
• 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

-6.5% since first listed

6 events — show timeline

• 2026-02-19 Price Changed $145,000 SWVAR
• 2025-12-05 Relisted — SWVAR
• 2025-12-05 Price Changed $150,000 SWVAR
• 2025-10-26 Delisted — SWVAR
• 2025-05-26 Listed $155,000 SWVAR
• 2025-05-24 Listed $155,000 SWVAR

Property tax history

+6.5%/yr

Latest (2025): $620 · +0.0% YoY. Source: county tax records.