607 Spring Ave · Wise, VA 24293

$95,000

3 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 52 Days on market

Built 1995 6,098 sqft lot $54/sqft · 47% below area Est $109k · 13% under ↓ 17% since listing

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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 +29.2/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +6.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.3/10.0

Listing remarks MLS

Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

Key facts

• 6,098 sq ft lot
• Built 1995
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.1% in Wise — 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 77/100 on livability (#99 in VA, #3,153 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, crime A-; Watch: employment D+, amenities F, commute F.
• Wise County Public School District (town): math 74% / reading 79% proficiency, ranked #11 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Union Primary (math 72% / reading 79%, grade A, #207 of 1,108 statewide, top 19%, 861 students, 84% FRL); Union Middle (math 58% / reading 70%, grade B+, #127 of 342 statewide, top 37%, 583 students, 89% FRL); Central High (math 87% / reading 87%, grade A, #16 of 319 statewide, top 5%, 674 students, 81% FRL) — zoned schools average 84% FRL vs 55% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 42 active listings in the ZIP; 17 units permitted in Wise County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wise County population projected at -26% 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 $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.97%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

• ARV (median comp): $109,016
• List price: $95,000
• Delta: -12.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Dale St	0.10mi	3/2.0	1,765 (+1%)	2mo	$143,500	$81	92
512 Wheatley Ave	0.13mi	3/2.0	1,970 (+13%)	10mo	$265,000	$135	64
614 Mars St	0.71mi	3/2.0	1,760 (+1%)	13mo	$172,000	$98	55
133 Roberts Ave Ave SW	0.71mi	3/3.0	1,655 (-5%)	12mo	$180,000	$109	44
406 Mason Ave	0.46mi	4/1.0 (+1)	1,540 (-12%)	8mo	$100,000	$65	43
711 Main St	0.55mi	4/2.5 (+1)	1,998 (+14%)	7mo	$280,000	$140	38
612 Orchard Ln	0.68mi	3/2.0	1,946 (+12%)	18mo	$234,000	$120	34
217 Vanover Ave	0.55mi	3/2.0	1,488 (-15%)	21mo	$110,000	$74	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: 5.5%
• Equity multiple: 1.22×
• Total profit: $5,728
• Equity at exit: $14,165

10-year hold

• IRR: 15.0%
• Equity multiple: 2.21×
• Total profit: $32,163
• Equity at exit: $8,214

Cash invested: $26,600 (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 24293

• Home prices YoY: -5.8%
• Active inventory: 42
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,197 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $332

Break-even live

Break-even rent $777

Max offer price $95,000

Occupancy floor 67%

Sensitivity live

Price	-10% $386	-5% $359	+0% $332	+5% $305	+10% $278
Rent	-10% $237	-5% $284	+0% $332	+5% $379	+10% $426
Rate	-1.0pp $380	-0.5pp $356	base $332	+0.5pp $307	+1.0pp $282

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-18
   status Pending 217-char remark

   Show marketing remark (217 chars)

   Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

2. 2026-05-04
   price $95,000 217-char remark

   Show marketing remark (217 chars)

   Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

3. 2026-04-29
   price $105,000 217-char remark

   Show marketing remark (217 chars)

   Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

4. 2026-04-22
   price $110,000 217-char remark

   Show marketing remark (217 chars)

   Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

5. 2026-03-26
   listed $115,000 Active 217-char remark

   Show marketing remark (217 chars)

   Charming and recently updated 3 bedroom, 2 bath situated on . 14 acres. Currently used as a rental property, this home offers a great opportunity for investors or anyone looking for an affordable, move in ready space.

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $914 · $76/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $14,364
• − Mortgage interest: −$5,321
• − Property taxes: −$914
• − Insurance: −$475
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$2,764
• Taxable income: $2,592
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $3,359/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: Wise County Public School District
• NCES district ID: 5104080
• Math proficiency: 74% ▼ -20.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $35,624
• Composite: 63.37/100
• National rank: #625
• State rank: #11 of 131 in VA

Livability — Wise

• Score: 77/100
• State rank: #99
• US rank: #3153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wise, VA
• Population (ZIP): 9,622

Population outlook (Wise County) Hauer SSP2

• Today (2025): 35,714 people
• By 2030: 33,742 · -5.5%
• By 2040: 29,870 · -16.4%
• By 2050: 26,233 · -26.5%
• By 2075: 18,296 · -48.8%
• By 2100: 12,147 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Serbian 4% Slovak 4% Lithuanian 2%
• Foreign-born: 1% · Canada, South Korea

Political lean MEDSL · Wise

• 2024 margin: Solid R (+63.3) · D 18.1% · R 81.4%
• 2008→2024 swing: -35.6pp toward R · 2008: -27.7pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+61.7 2016: R+62.0 2012: R+48.8 2008: R+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.49%
• Current HPI: 153.7377
• 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

-17.4% since first listed

5 events — show timeline

• 2026-05-18 Pending — TVRMLS
• 2026-05-04 Price Changed $95,000 TVRMLS
• 2026-04-29 Price Changed $105,000 TVRMLS
• 2026-04-22 Price Changed $110,000 TVRMLS
• 2026-03-26 Listed $115,000 TVRMLS

Property tax history

+2.0%/yr

Latest (2025): $914 · +0.0% YoY. Source: county tax records.