608 Park Ave · Appalachia, VA 24216

$12,000

3 bd · 1.0 ba · 806 sqft · SingleFamily public records · 10 Days on market

Built 1920 2.96 ac lot $15/sqft · 67% below area ↓ 59% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

Key facts

• Deeded parking area
• 2.96 acre lot
• Built 1920

Tags

• DEEDED PARKING AREA

Property features AI

Exterior

• Parking: Deeded parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story house; Property listed as fixer
• Construction: Wood siding and plaster construction; Rolled/hot mop roof
• Exterior features: Balcony; Level to steep sloping terrain

Interior

• Kitchen: Electric range
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Kerosene heating; No central cooling
• Interior features: Electric range; Balcony
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $12k).

Location & tenants

• Location reads 56/100 on livability (#505 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment 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); Union High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 601 students, 86% FRL) — zoned schools average 86% FRL vs 55% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 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 $83 of loan paydown is wiped out by about $360 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $12,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 8.15% ✓
• Cap rate: 76.11%
• Cash-on-cash: 249.33%
• DSCR: 12.09
• GRM: 1.0

CMA / ARV

• ARV (median comp): $72,115
• List price: $12,000
• Delta: -79.20%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 12.61×
• Total profit: $39,026
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 26.85×
• Total profit: $86,860
• Equity at exit: $1,038

Cash invested: $3,360 (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 24216

• Home prices YoY: -3.3%
• Active inventory: 25
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $978 medium
• Mortgage (P&I): −$63
• Tax from tax record: −$7 /mo · $79/yr
• Insurance: −$5
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $643

Break-even live

Break-even rent $165

Max offer price $12,000

Occupancy floor 29%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-12
   statusdays on market $12,000 Pending 10 DOM
2. 2026-06-09
   days on market $12,000 Active 8 DOM
3. 2026-06-08
   days on market $12,000 Active 7 DOM
4. 2026-06-08
   days on market $12,000 Active 6 DOM
5. 2026-06-07
   days on market $12,000 Active 5 DOM
6. 2026-06-03
   days on market $12,000 Active 2 DOM
7. 2026-06-02
   pricestatusdays on marketlisting id $12,000 Active 1 DOM
8. 2025-12-08
   status Pending 462-char remark

   Show marketing remark (462 chars)

   Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

9. 2025-12-08
   status Active 462-char remark

   Show marketing remark (462 chars)

   Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

10. 2025-12-08
    soldstatus $9,000 Closed 462-char remark

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

11. 2025-12-08
    soldstatus $9,000

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

12. 2025-12-03
    status Pending 462-char remark

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

13. 2025-11-18
    price $16,000 462-char remark

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

14. 2025-03-20
    price $22,000 462-char remark

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

15. 2025-02-05
    listed $29,000 Active 462-char remark

    Show marketing remark (462 chars)

    Three homes with separate water and sewer hookups. Two homes need to be demolished. One home can probably be repaired. Extra lot at street for parking. Seller states there is some good timber on the property. Seller is not responsible for anyone entering the homes (Potential purchaser of agent. ) Buyer and buyer agents to verify all information in this listing. Subject to Errors and Omissions. This listing includes Parcel ID 018109, 018988, 018417 and 018020

ⓘ 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: $79 · $7/mo
• Projected year-2 tax: $98 · $8/mo
• Expected delta: +$19/yr (+$2/mo · 24.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 22 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: $11,737
• − Mortgage interest: −$672
• − Property taxes: −$79
• − Insurance: −$726
• − Repairs & maintenance: −$939
• − Management: −$939
• − Depreciation: −$349
• Taxable income: $8,032
• Est. tax owed @ 24.0%: −$1,928
• After-tax cash flow: $5,783/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 — Appalachia

• Score: 56/100
• State rank: #505
• US rank: #22417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Appalachia, VA
• Population (ZIP): 2,356

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 (88%)
• Race & ethnicity: White 88% Two or more races 7% Black 5% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

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: ▼ -3.82%
• Current HPI: 112.8878
• 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

-58.6% since first listed

11 events — show timeline

• 2026-06-18 Sold (MLS) $12,000 TVRMLS
• 2026-06-12 Pending — TVRMLS
• 2026-06-01 Listed $12,000 TVRMLS
• 2025-12-08 Pending — TVRMLS
• 2025-12-08 Relisted — TVRMLS
• 2025-12-08 Sold (Public Records) $9,000 Public Records
• 2025-12-08 Sold (MLS) $9,000 TVRMLS
• 2025-12-03 Pending — TVRMLS
• 2025-11-18 Price Changed $16,000 TVRMLS
• 2025-03-20 Price Changed $22,000 TVRMLS
• 2025-02-05 Listed $29,000 TVRMLS

Property tax history

+1.3%/yr

Latest (2025): $79 · +0.0% YoY. Source: county tax records.