17033 N Telegraph Rd · Ashland, VA 23047

$230,000

3 bd · 2.0 ba · 2,008 sqft · SingleFamily public records · 27 Days on market

Built 1916 0.37 ac lot $115/sqft · 24% below area Est $302k · 24% under

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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 +7.8/30.0
• Schools +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.7/10.0
• Appreciation +1.3/10.0

Listing remarks MLS

INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

Key facts

• 0.37 acre lot
• Parking
• Built 1916

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (19.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (33.2% below list).
• Recommended offer: $154k (33.2% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 1.4% in Ashland — 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 79/100 on livability (#67 in VA, #2,152 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F, commute F.
• Hanover County Public School District (suburban): math 79% / reading 81% proficiency, ranked #5 of 131 in VA (top 4%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Beaverdam Elementary (math 72% / reading 67%, grade A-, #313 of 1,108 statewide, top 32%, 292 students, 34% FRL); Liberty Middle (math 66% / reading 74%, grade A, #80 of 342 statewide, top 24%, 911 students, 39% FRL); Patrick Henry High (math 74% / reading 81%, grade A-, #83 of 319 statewide, top 28%, 1,323 students, 34% FRL) — zoned schools average 35% FRL vs 15% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 447 units permitted in Hanover County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hanover County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $69k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $145k; list at $230k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,557 (33.2% 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. Built in 1916 — 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 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?
5. 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?
6. 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?
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: 0.67% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.75%
• DSCR: 0.79
• GRM: 12.5

CMA / ARV

• ARV (median comp): $301,809
• List price: $230,000
• Delta: -23.79%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17033 N Telegraph Rd	0.00mi	3/2.0	2,008 (0%)	1mo	$210,000	$105	99
17039 N Telegraph Rd	0.02mi	4/2.0 (+1)	1,986 (-1%)	18mo	$348,000	$175	77

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: -24.4%
• Equity multiple: 0.17×
• Total profit: $-53,571
• Equity at exit: $34,294

10-year hold

• IRR: -19.9%
• Equity multiple: -0.05×
• Total profit: $-67,781
• Equity at exit: $19,886

Cash invested: $64,400 (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 23047

• Home prices YoY: -2.8%
• Active inventory: 20
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$166 /mo · $1,995/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-255

Break-even live

Break-even rent $1,859

Max offer price $184,930

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-190	+0% $-255	+5% $-320	+10% $-385
Rent	-10% $-376	-5% $-316	+0% $-255	+5% $-194	+10% $-134
Rate	-1.0pp $-139	-0.5pp $-197	base $-255	+0.5pp $-315	+1.0pp $-375

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-15
   status Pending 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

2. 2026-05-13
   status Active 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

3. 2026-05-10
   status Pending 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

4. 2026-05-04
   price $230,000 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

5. 2026-04-24
   price $279,999 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

6. 2026-04-16
   listed $299,000 Active 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

7. 2026-04-13
   historical $299,000 629-char remark

   Show marketing remark (629 chars)

   INVESTOR OPPORTUNITY – HANOVER COUNTY Opportunity is knocking loud on this one! This classic 1916 farmhouse sits on . 76 acres including an additional lot behind the home- offering space, potential, and serious upside. 3 Bedrooms | 2 Full Baths, First-floor primary bedroom & bath. Spacious upstairs bedrooms. Quiet setting with room to expand! Location is everything — conveniently situated in Hanover, just off I-95, close to Ashland, and an easy reach to Northern Virginia. This is the kind of property investors wait for! Investors, don’t miss this one. Come see the potential for yourself!

8. 2013-07-29
   soldstatus $145,000
9. 2013-07-26
   soldstatus $145,000 627-char remark

   Show marketing remark (627 chars)

   Beautifully renovated 3 Bedroom 2 Bath Farmhouse located in Hanover County just minutes from Kings Dominion. All the charm of a 1910 Farmhouse with modern day amenities. Dual Zone Central Air and Heat, replacement windows, vinyl siding and tray ceilings with recessed lighting, just to name a few. Large updated kitchen with ceramic tile floors and stainless steel appliances. Downstairs bath has a beautiful claw foot tub and ceramic tile floors as well as a unique antique vanity. Office space adjacent to living room with arched doorway. Spacious Master bedroom downstairs as well as 2 large bedrooms and full bath upstairs.

10. 2013-06-01
    historical 627-char remark

    Show marketing remark (627 chars)

    Beautifully renovated 3 Bedroom 2 Bath Farmhouse located in Hanover County just minutes from Kings Dominion. All the charm of a 1910 Farmhouse with modern day amenities. Dual Zone Central Air and Heat, replacement windows, vinyl siding and tray ceilings with recessed lighting, just to name a few. Large updated kitchen with ceramic tile floors and stainless steel appliances. Downstairs bath has a beautiful claw foot tub and ceramic tile floors as well as a unique antique vanity. Office space adjacent to living room with arched doorway. Spacious Master bedroom downstairs as well as 2 large bedrooms and full bath upstairs.

11. 2013-05-03
    listed $145,000 627-char remark

    Show marketing remark (627 chars)

    Beautifully renovated 3 Bedroom 2 Bath Farmhouse located in Hanover County just minutes from Kings Dominion. All the charm of a 1910 Farmhouse with modern day amenities. Dual Zone Central Air and Heat, replacement windows, vinyl siding and tray ceilings with recessed lighting, just to name a few. Large updated kitchen with ceramic tile floors and stainless steel appliances. Downstairs bath has a beautiful claw foot tub and ceramic tile floors as well as a unique antique vanity. Office space adjacent to living room with arched doorway. Spacious Master bedroom downstairs as well as 2 large bedrooms and full bath upstairs.

12. 2011-08-12
    soldstatus $56,000

ⓘ 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: $1,995 · $166/mo
• Projected year-2 tax: $1,995 · $166/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $18,427
• − Mortgage interest: −$12,884
• − Property taxes: −$1,995
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$6,691
• Taxable loss: −$7,241
• Est. tax savings @ 24.0%: +$1,738
• After-tax cash flow: $-1,324/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: Hanover County Public School District
• NCES district ID: 5101830
• Math proficiency: 79% ▼ -11.00%
• Reading proficiency: 81% ▼ -3.00%
• Median HH income: $78,386
• Composite: 70.37/100
• National rank: #268
• State rank: #5 of 131 in VA

Livability — Ashland

• Score: 79/100
• State rank: #67
• US rank: #2152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 19,987
• Population (ZIP): 1,457

Population outlook (Hanover County) Hauer SSP2

• Today (2025): 111,687 people
• By 2030: 115,373 · +3.3%
• By 2040: 120,828 · +8.2%
• By 2050: 123,591 · +10.7%
• By 2075: 132,168 · +18.3%
• By 2100: 130,105 · +16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 14% Black 12%
• Common ancestry: Italian 9% Iranian 4% Scottish 2%
• Foreign-born: 4% · Canada

Political lean MEDSL · Hanover

• 2024 margin: Strong R (+25.8) · D 36.6% · R 62.4% · Other 1.1%
• 2008→2024 swing: +7.8pp toward D · 2008: -33.6pp · 2024: -25.8pp
• All cycles: 2024: R+25.8 2020: R+26.8 2016: R+32.5 2012: R+36.7 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.31%
• Current HPI: 251.2237
• 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

+310.7% since first listed

12 events — show timeline

• 2026-05-15 Pending — CVRMLS
• 2026-05-13 Relisted — CVRMLS
• 2026-05-10 Pending — CVRMLS
• 2026-05-04 Price Changed $230,000 CVRMLS
• 2026-04-24 Price Changed $279,999 CVRMLS
• 2026-04-16 Listed $299,000 CVRMLS
• 2026-04-13 Coming Soon $299,000 CVRMLS
• 2013-07-29 Sold (Public Records) $145,000 Public Records
• 2013-07-26 Sold (MLS) $145,000 CVRMLS
• 2013-06-01 Listing Removed — CVRMLS
• 2013-05-03 Listed $145,000 CVRMLS
• 2011-08-12 Sold (Public Records) $56,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,995 · +0.0% YoY. Source: county tax records.