3857 Cruise Dr · Pulaski, VA 24301

$44,900

2 bd · 1.0 ba · 960 sqft · SingleFamily · 77 Days on market

Built 1960 0.62 ac lot $47/sqft · 64% below area ↓ 40% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CONVENIENT LOCATION WITH IN QUIET AREA BUT STILL CLOSE TO TOWN AMENITIES. BRING YOUR IMAGINATION AND MAKE THIS YOUR HOME. THIS GREAT DEAL WON'T LAST LONG.

Key facts

• 0.62 acre lot
• Built 1960
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 5.5% in Pulaski — 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 67/100 on livability (#297 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 114 active listings in the ZIP; 39 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Pulaski County population projected at -19% 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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?
7. 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.
8. 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.
9. 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: 1.87% ✓
• Cap rate: 16.36%
• Cash-on-cash: 35.96%
• DSCR: 2.60
• GRM: 4.5

CMA / ARV

• ARV (median comp): $126,428
• List price: $44,900
• Delta: -64.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4410 Jake Buford Ave	0.71mi	2/1.0	1,008 (+5%)	4mo	$205,000	$203	56
1950 Snider Ln	0.72mi	3/1.5 (+1)	936 (-2%)	2mo	$116,000	$124	53
3466 Hilton Village Loop	0.60mi	2/1.0	900 (-6%)	12mo	$160,000	$178	52
1961 Snider Ln	0.66mi	3/1.0 (+1)	1,032 (+8%)	4mo	$125,000	$121	49
3376 Hilton Village Loop	0.64mi	3/1.0 (+1)	958 (-0%)	21mo	$172,500	$180	48
4057 Robinson Tract Rd	0.69mi	2/1.0	904 (-6%)	17mo	$60,000	$66	44
3721 Largen Hill Ct	0.65mi	2/1.0	1,096 (+14%)	8mo	$60,000	$55	39

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: 31.7%
• Equity multiple: 2.33×
• Total profit: $16,719
• Equity at exit: $6,695

10-year hold

• IRR: 38.8%
• Equity multiple: 4.61×
• Total profit: $45,447
• Equity at exit: $3,882

Cash invested: $12,572 (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 24301

• Active inventory: 114
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$31 /mo · $367/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $377

Break-even live

Break-even rent $360

Max offer price $44,900

Occupancy floor 50%

Sensitivity live

Price	-10% $402	-5% $389	+0% $377	+5% $364	+10% $351
Rent	-10% $311	-5% $344	+0% $377	+5% $410	+10% $443
Rate	-1.0pp $399	-0.5pp $388	base $377	+0.5pp $365	+1.0pp $353

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $44,900 Active 77 DOM
2. 2026-06-18
   days on market $44,900 Active 76 DOM
3. 2026-06-17
   days on market $44,900 Active 75 DOM
4. 2026-06-16
   days on market $44,900 Active 74 DOM
5. 2026-06-15
   days on market $44,900 Active 73 DOM
6. 2026-06-14
   days on market $44,900 Active 71 DOM
7. 2026-06-13
   days on market $44,900 Active 70 DOM
8. 2026-06-10
   days on market $44,900 Active 68 DOM
9. 2026-06-09
   days on market $44,900 Active 67 DOM
10. 2026-06-08
    days on market $44,900 Active 66 DOM
11. 2026-06-07
    days on market $44,900 Active 65 DOM
12. 2026-06-05
    pricedays on market $44,900 Active 62 DOM
13. 2026-06-02
    days on market $49,900 Active 60 DOM
14. 2026-06-01
    days on market $49,900 Active 59 DOM
15. 2026-05-31
    days on market $49,900 Active 58 DOM
16. 2026-05-30
    days on market $49,900 Active 57 DOM
17. 2026-05-05
    price $49,900 154-char remark

    Show marketing remark (154 chars)

    CONVENIENT LOCATION WITH IN QUIET AREA BUT STILL CLOSE TO TOWN AMENITIES. BRING YOUR IMAGINATION AND MAKE THIS YOUR HOME. THIS GREAT DEAL WON'T LAST LONG.

18. 2026-04-03
    listed $59,900 Active 154-char remark

    Show marketing remark (154 chars)

    CONVENIENT LOCATION WITH IN QUIET AREA BUT STILL CLOSE TO TOWN AMENITIES. BRING YOUR IMAGINATION AND MAKE THIS YOUR HOME. THIS GREAT DEAL WON'T LAST LONG.

19. 2025-05-29
    price $64,950
20. 2025-05-04
    price $69,950
21. 2025-04-24
    price $77,500
22. 2025-04-14
    listed $82,500 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: $367 · $31/mo
• Projected year-2 tax: $368 · $31/mo
• Expected delta: +$1/yr ($0/mo · 0.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 20 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: $10,049
• − Mortgage interest: −$2,515
• − Property taxes: −$367
• − Insurance: −$224
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$1,306
• Taxable income: $4,028
• Est. tax owed @ 24.0%: −$967
• After-tax cash flow: $3,555/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: Pulaski County Public School District
• NCES district ID: 5103150
• Math proficiency: 48% ▼ -31.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $44,912
• Composite: 45.98/100
• National rank: #2537
• State rank: #86 of 131 in VA

Livability — Pulaski

• Score: 67/100
• State rank: #297
• US rank: #10639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,370

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 32,949 people
• By 2030: 31,812 · -3.5%
• By 2040: 29,224 · -11.3%
• By 2050: 26,691 · -19.0%
• By 2075: 21,312 · -35.3%
• By 2100: 15,697 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Italian 2% Iranian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+44.7) · D 27.3% · R 72.0%
• 2008→2024 swing: -25.1pp toward R · 2008: -19.5pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.5 2016: R+40.7 2012: R+24.8 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.98%
• Current HPI: 144.6556
• 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

-39.5% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $49,900 SWVAR
• 2026-04-03 Listed $59,900 SWVAR
• 2025-05-29 Price Changed $64,950 NRVMLS
• 2025-05-04 Price Changed $69,950 NRVMLS
• 2025-04-24 Price Changed $77,500 NRVMLS
• 2025-04-14 Listed $82,500 NRVMLS

Property tax history

+0.7%/yr

Latest (2026): $367 · +0.0% YoY. Source: county tax records.