317 12th St W · Waynesboro, VA 22980

$212,000

4 bd · 2.0 ba · 1,561 sqft · MultiFamily public records · 43 Days on market

Built 1919 1,306 sqft lot $136/sqft · 20% below area Est $265k · 20% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.2/10.0
• Rent growth +4.7/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Income-producing duplex with strong potential in a convenient Waynesboro location! This home could be great for Multi-generational living as well! Located at 317 W 12th Street, this up/down duplex offers a great opportunity for investors or owner-occupants looking to build equity. The upstairs unit features 1 bedroom and 1 bathroom and is currently tenant-occupied, providing immediate income. The downstairs unit is vacant, giving you the flexibility to place a new tenant, renovate, or move in yourself. With a total of 1,561 square feet, this property offers functional living space and solid rental potential. The property is just minutes from downtown Waynesboro and close to the Greenway, offering easy access to walking, biking, and outdoor recreation—an attractive feature for tenants. While the home could use some TLC, it presents a great value-add opportunity for buyers looking to improve and increase long-term returns. Whether you're expanding your portfolio or exploring your first investment, this duplex offers income, flexibility, and upside potential. Property sold as is.

Key facts

• Income potential
• Future flexibility
• 1,306 sq ft lot

Tags

• MULTI-GENERATIONAL LIVING
• INCOME POTENTIAL
• FUTURE FLEXIBILITY

🏷️ Possibly a rental listed for sale. The $212,000 price doesn't fit this home's estimated sale value (~$265,072) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $212k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $212k).
• Recommended offer: $206k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.3% in Waynesboro — 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 74/100 on livability (#155 in VA, #4,902 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, commute F.
• Waynesboro City Public School District (urban): math 35% / reading 57% proficiency, ranked #108 of 131 in VA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.9%/yr); 302 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 138 units permitted in Waynesboro city in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Waynesboro County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago 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.
• Current owner paid $175k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,640 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (median comp): $265,072
• List price: $212,000
• Delta: -20.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $2,086
• Equity at exit: $31,610

10-year hold

• IRR: 14.7%
• Equity multiple: 2.45×
• Total profit: $86,018
• Equity at exit: $18,330

Cash invested: $59,360 (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 22980

• Rents YoY: 8.9%
• Active inventory: 302
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$1,112
• Tax from tax record: −$121 /mo · $1,458/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $393

Break-even live

Break-even rent $1,673

Max offer price $212,000

Occupancy floor 77%

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Forever Ct Waynesboro, VA	4.0	2.5	2014	$2,195	$1.09	43d	1	1.45mi
113 Oakshire Ct Waynesboro, VA	4.0	3.5	1851	$2,285	$1.23	43d	1	1.48mi
236 Willowshire Ct Waynesboro, VA	3.0	3.0	1851	$2,100	$1.13	43d	1	1.49mi

Listing history 16 events

1. 2026-05-01
   price $212,000 1100-char remark

   Show marketing remark (749 chars)

   Unique opportunity in the heart of Waynesboro offering flexible living options for today’s buyer. With separate upstairs and downstairs living spaces, this property is ideal for multi-generational living, providing room for extended family, aging parents, adult children, or guests while still allowing privacy. It also offers excellent income potential for an owner-occupant who may want to live in one unit and rent the other or rent both. For buyers with a different vision, the home also presents the possibility of being converted back into a spacious single-family residence. Whether you are looking for a home that supports extended family, provides supplemental income, or offers future flexibility, this property is full of potential.

2. 2026-05-01
   price $212,000 749-char remark

   Show marketing remark (749 chars)

   Unique opportunity in the heart of Waynesboro offering flexible living options for today’s buyer. With separate upstairs and downstairs living spaces, this property is ideal for multi-generational living, providing room for extended family, aging parents, adult children, or guests while still allowing privacy. It also offers excellent income potential for an owner-occupant who may want to live in one unit and rent the other or rent both. For buyers with a different vision, the home also presents the possibility of being converted back into a spacious single-family residence. Whether you are looking for a home that supports extended family, provides supplemental income, or offers future flexibility, this property is full of potential.

3. 2026-04-07
   listed $219,500 Active 749-char remark

   Show marketing remark (749 chars)

   Unique opportunity in the heart of Waynesboro offering flexible living options for today’s buyer. With separate upstairs and downstairs living spaces, this property is ideal for multi-generational living, providing room for extended family, aging parents, adult children, or guests while still allowing privacy. It also offers excellent income potential for an owner-occupant who may want to live in one unit and rent the other or rent both. For buyers with a different vision, the home also presents the possibility of being converted back into a spacious single-family residence. Whether you are looking for a home that supports extended family, provides supplemental income, or offers future flexibility, this property is full of potential.

4. 2026-03-11
   price $219,500 1100-char remark

   Show marketing remark (1100 chars)

   Income-producing duplex with strong potential in a convenient Waynesboro location! This home could be great for Multi-generational living as well! Located at 317 W 12th Street, this up/down duplex offers a great opportunity for investors or owner-occupants looking to build equity. The upstairs unit features 1 bedroom and 1 bathroom and is currently tenant-occupied, providing immediate income. The downstairs unit is vacant, giving you the flexibility to place a new tenant, renovate, or move in yourself. With a total of 1,561 square feet, this property offers functional living space and solid rental potential. The property is just minutes from downtown Waynesboro and close to the Greenway, offering easy access to walking, biking, and outdoor recreation—an attractive feature for tenants. While the home could use some TLC, it presents a great value-add opportunity for buyers looking to improve and increase long-term returns. Whether you're expanding your portfolio or exploring your first investment, this duplex offers income, flexibility, and upside potential. Property sold as is.

5. 2026-02-02
   listed $225,000 Active 1100-char remark

   Show marketing remark (1100 chars)

   Income-producing duplex with strong potential in a convenient Waynesboro location! This home could be great for Multi-generational living as well! Located at 317 W 12th Street, this up/down duplex offers a great opportunity for investors or owner-occupants looking to build equity. The upstairs unit features 1 bedroom and 1 bathroom and is currently tenant-occupied, providing immediate income. The downstairs unit is vacant, giving you the flexibility to place a new tenant, renovate, or move in yourself. With a total of 1,561 square feet, this property offers functional living space and solid rental potential. The property is just minutes from downtown Waynesboro and close to the Greenway, offering easy access to walking, biking, and outdoor recreation—an attractive feature for tenants. While the home could use some TLC, it presents a great value-add opportunity for buyers looking to improve and increase long-term returns. Whether you're expanding your portfolio or exploring your first investment, this duplex offers income, flexibility, and upside potential. Property sold as is.

6. 2022-08-22
   soldstatus $175,000
7. 2022-08-19
   soldstatus $175,000 Sold
8. 2022-07-26
   status Pending
9. 2022-06-28
   listed $185,000 Active
10. 2015-09-23
    historical
11. 2015-09-09
    soldstatus $48,000
12. 2015-09-08
    soldstatus $48,000
13. 2015-06-23
    listed $49,000
14. 2015-05-20
    listed $49,000
15. 2014-04-01
    soldstatus $56,000
16. 2013-11-07
    listed $65,000

ⓘ 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: $1,458 · $121/mo
• Projected year-2 tax: $1,738 · $145/mo
• Expected delta: +$280/yr (+$23/mo · 19.2%)

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

Taxation est. · year 1

• Rental income: $26,043
• − Mortgage interest: −$11,875
• − Property taxes: −$1,458
• − Insurance: −$1,060
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$6,167
• Taxable income: $1,316
• Est. tax owed @ 24.0%: −$316
• After-tax cash flow: $4,399/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: Waynesboro City Public School District
• NCES district ID: 5103930
• Math proficiency: 35% ▼ -36.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $43,171
• Composite: 38.73/100
• National rank: #4131
• State rank: #108 of 131 in VA

Livability — Waynesboro

• Score: 74/100
• State rank: #155
• US rank: #4902

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waynesboro, VA
• County: Waynesboro City · 32,965 people
• City population: 32,965
• Metro: Staunton, VA
• Population (ZIP): 32,965
• Household income: $63,943
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 858.0

Population outlook (Waynesboro County) Hauer SSP2

• Today (2025): 22,329 people
• By 2030: 22,567 · +1.1%
• By 2040: 22,947 · +2.8%
• By 2050: 23,061 · +3.3%
• By 2075: 22,739 · +1.8%
• By 2100: 21,058 · -5.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Black 8% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Waynesboro

• 2024 margin: Lean R (+5.7) · D 46.5% · R 52.2% · Other 1.4%
• 2008→2024 swing: +4.6pp toward D · 2008: -10.3pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+5.1 2016: R+11.4 2012: R+10.9 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.72%
• Current HPI: 183.3216
• Rent YoY: ▲ 8.88%
• Metro: Staunton, VA
• 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

+226.2% since first listed

16 events — show timeline

• 2026-05-01 Price Changed $212,000 GAAR
• 2026-05-01 Price Changed $212,000 GAAR
• 2026-04-07 Listed $219,500 GAAR
• 2026-03-11 Price Changed $219,500 GAAR
• 2026-02-02 Listed $225,000 GAAR
• 2022-08-22 Sold (Public Records) $175,000 Public Records
• 2022-08-19 Sold (MLS) $175,000 GAAR
• 2022-07-26 Pending — GAAR
• 2022-06-28 Listed $185,000 GAAR
• 2015-09-23 Listing Removed — CAAR
• 2015-09-09 Sold (Public Records) $48,000 Public Records
• 2015-09-08 Sold (MLS) $48,000 GAAR
• 2015-06-23 Listed $49,000 CAAR
• 2015-05-20 Listed $49,000 GAAR
• 2014-04-01 Sold (MLS) $56,000 GAAR
• 2013-11-07 Listed $65,000 GAAR

Property tax history

+8.5%/yr

Latest (2025): $1,458 · +33.4% YoY. Source: county tax records.