301 Cherry St · Marion, VA 24354

$119,900

3 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 45 Days on market

Built 1900 0.29 ac lot $85/sqft · 15% below area Est $141k · 15% under

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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 +16.7/30.0
• ARV discount +14.1/15.0
• DSCR +5.2/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 2 story home! This home has so much potential. Offering 3 bedrooms, 1 bath. Large detached building with electric. Property being sold as is. All information is taken from taxes. All information to be verified by buyer. Listing agent and seller are not responsible. All information subject to errors and omissions.

Key facts

• 0.29 acre lot
• Built 1900
• Listed 45 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $74 ($891/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 $100k (16.9% below list).
• Recommended offer: $100k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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+, schools A-; 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.
• Market conditions: 86 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 $829 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 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,600 (16.9% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 0.83% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (median comp): $140,603
• List price: $119,900
• Delta: -14.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Cemetery St	0.23mi	4/1.5 (+1)	1,517 (+7%)	3mo	$105,000	$69	68
549 South Church St	0.38mi	3/2.0	1,308 (-8%)	1mo	$205,000	$157	64
609 South Church St	0.42mi	3/2.0	1,296 (-8%)	1mo	$179,900	$139	61
320 South Iron St	0.30mi	3/2.0	1,493 (+5%)	16mo	$235,000	$157	60
523 Gordon Ave	0.56mi	3/2.5	1,419 (+0%)	12mo	$250,000	$176	58
303 Clinton Ave	0.60mi	3/2.0	1,347 (-5%)	13mo	$158,000	$117	49
648 Dalton St	0.52mi	2/3.0 (-1)	1,402 (-1%)	15mo	$210,000	$150	49
911 Cumberland St	0.73mi	3/1.5	1,548 (+9%)	2mo	$159,985	$103	46
418 Virginia Ave	0.38mi	2/1.5 (-1)	1,228 (-13%)	14mo	$75,000	$61	41
95 Euclid Ave	0.58mi	3/1.0	1,272 (-10%)	18mo	$120,000	$94	41
405 Look Ave	0.55mi	2/1.0 (-1)	1,218 (-14%)	9mo	$154,000	$126	38
637 Hamlet St	0.68mi	3/2.0	1,498 (+6%)	20mo	$240,000	$160	38

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-14,757
• Equity at exit: $17,877

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-6,990
• Equity at exit: $10,367

Cash invested: $33,572 (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: 86
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$34 /mo · $407/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $74

Break-even live

Break-even rent $902

Max offer price $119,900

Occupancy floor 88%

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: $29,975
• Closing costs: $3,597
• 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	13d	9	0.64mi

Listing history 2 events

1. 2026-05-14
   status Pending 319-char remark

   Show marketing remark (319 chars)

   Cute 2 story home! This home has so much potential. Offering 3 bedrooms, 1 bath. Large detached building with electric. Property being sold as is. All information is taken from taxes. All information to be verified by buyer. Listing agent and seller are not responsible. All information subject to errors and omissions.

2. 2026-03-30
   listed $119,900 Active 319-char remark

   Show marketing remark (319 chars)

   Cute 2 story home! This home has so much potential. Offering 3 bedrooms, 1 bath. Large detached building with electric. Property being sold as is. All information is taken from taxes. All information to be verified by buyer. Listing agent and seller are not responsible. All information subject to errors and omissions.

ⓘ 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: $407 · $34/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: +$577/yr (+$48/mo · 141.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,952
• − Mortgage interest: −$6,716
• − Property taxes: −$407
• − Insurance: −$600
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$3,488
• Taxable loss: −$1,171
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $1,172/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

2 events — show timeline

• 2026-05-14 Pending — TVRMLS
• 2026-03-30 Listed $119,900 TVRMLS

Property tax history

+2.2%/yr

Latest (2025): $407 · +0.0% YoY. Source: county tax records.