250 S 8th St · Wytheville, VA 24382

$224,900

2 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 1 Days on market

Built 1938 6,970 sqft lot Est $196k · 15% over

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Why this score? — see what drove the F 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 +6.2/30.0
• Schools +6.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• DSCR +0.5/10.0
• 1% rule +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming brick home in Wytheville business zone. This 2 bedroom, 2 bath cottage is ideal for residential or business use located in the B-2DT (Downtown) District. With beautiful hardwood flooring and spacious rooms, it has a cozy and comfortable feel with all the charm of the 1930's era. The basement includes a large gathering space along with laundry and full bathroom plus significant space for an additional office and workshop. The spacious attic could be finished into living space and is open the entire length of the house. A large front porch and back yard provide outdoor social spaces and this location is close to downtown activities as well as the parks and retail therapy. Enjoy this beautiful home and with some cosmetic improvements, it can be a renewed treasure once again with all the benefits of a convenient location. Other amenities include a sun porch, hot water steam heat, storage spaces and cabinetry and an sizeable crop of grapes all in downtown Wytheville, VA.

Key facts

• Covered front porch
• Finished basement
• Enclosed porch

Tags

• UPDATED 1930S BRICK HOME
• NEWLY REDONE KITCHEN
• ENCLOSED PORCH
• REFINISHED HARDWOOD FLOORING
• COVERED FRONT PORCH
• FINISHED BASEMENT

Property features AI

Finance

• Other: Zoning: B2-DT
• HOA & community: No association amenities

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One and one-half stories; Residential property
• Construction: Brick construction; Block foundation; Shingle roof; Below-grade finished area
• Exterior features: Covered porch; Patio/porch; Outbuilding; Level lot with few trees

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Oil heating; Ceiling fans for cooling; Wall/window air conditioning units
• Interior features: High-speed internet; Ceiling fans; Window treatments; Masonry fireplace
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-409 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (48.6% below list).
• Recommended offer: $116k (48.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#116 in VA, #3,571 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: employment D, amenities F, commute F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Spiller Elementary (math 62% / reading 73%, grade B+, #372 of 1,108 statewide, top 34%, 624 students, 73% FRL); Scott Memorial Middle (math 73% / reading 79%, grade A, #42 of 342 statewide, top 13%, 318 students, 73% FRL); George Wythe High (math 72% / reading 82%, grade A-, #90 of 319 statewide, top 30%, 462 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 63 units permitted in Wythe County in 2024 (12 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.
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $108k; list at $225k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,639 (48.6% 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 1938 — 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. 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: 0.51% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.79%
• DSCR: 0.65
• GRM: 16.2

CMA / ARV

• ARV (on-the-fly): $195,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
835 W Madison St	0.53mi	2/1.0	1,184 (-1%)	4mo	$42,000	$35	66
805 W Madison St	0.53mi	2/1.0	1,182 (-2%)	6mo	$60,000	$51	64
625 S 8th St	0.31mi	3/2.0 (+1)	1,138 (-5%)	13mo	$185,000	$163	61
665 W Un	0.26mi	3/1.0 (+1)	1,029 (-14%)	2mo	$70,000	$68	53
365 S 12th St	0.19mi	3/1.0 (+1)	1,029 (-14%)	7mo	$215,000	$209	53
990 W Jefferson St	0.46mi	3/1.0 (+1)	1,306 (+9%)	5mo	$134,000	$103	50
790 S 7th St	0.69mi	2/1.5	1,318 (+10%)	4mo	$170,000	$129	46
505 E E Lexington St	0.71mi	3/2.0 (+1)	1,040 (-13%)	2mo	$185,000	$178	38
385 E Fulton St	0.72mi	3/1.0 (+1)	1,122 (-6%)	15mo	$157,000	$140	34
220 Spring Meadow Dr	0.54mi	3/2.0 (+1)	1,370 (+14%)	16mo	$306,000	$223	33
220 Spring Meadow Dr	0.56mi	3/2.0 (+1)	1,370 (+14%)	16mo	$306,000	$223	32
260 N 26th St	0.75mi	3/1.0 (+1)	1,050 (-12%)	5mo	$210,000	$200	31

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: -30.0%
• Equity multiple: 0.01×
• Total profit: $-62,596
• Equity at exit: $33,533

10-year hold

• IRR: -31.9%
• Equity multiple: -0.41×
• Total profit: $-88,529
• Equity at exit: $19,445

Cash invested: $62,972 (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 24382

• Home prices YoY: -25.7%
• Active inventory: 156
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $1,156 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $-409

Break-even live

Break-even rent $1,674

Max offer price $152,711

Occupancy floor —

Sensitivity live

Price	-10% $-281	-5% $-345	+0% $-409	+5% $-472	+10% $-536
Rent	-10% $-500	-5% $-454	+0% $-409	+5% $-363	+10% $-317
Rate	-1.0pp $-295	-0.5pp $-351	base $-409	+0.5pp $-467	+1.0pp $-526

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 W Marshall St Unit 2 Wytheville, VA	2.0	1.0	900	$1,250	$1.39	45d	1	0.56mi
150 Birch Dr Wytheville, VA	1.0–2.0	1.0–2.0	825	$950	$1.15	45d	1	1.14mi

Listing history 2 events

1. 2026-06-21
   remarks 694-char remark
2. 2026-06-21
   listed $224,900 Active 1 DOM

ⓘ 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: $589 · $49/mo
• Projected year-2 tax: $1,844 · $154/mo
• Expected delta: +$1,255/yr (+$105/mo · 213.1%)

ⓘ 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
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,877
• − Mortgage interest: −$12,598
• − Property taxes: −$589
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$6,543
• Taxable loss: −$9,198
• Est. tax savings @ 24.0%: +$2,207
• After-tax cash flow: $-2,696/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: Wythe County Public School District
• NCES district ID: 5104110
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 77% ▼ -9.00%
• Median HH income: $41,665
• Composite: 60.19/100
• National rank: #863
• State rank: #20 of 131 in VA

Livability — Wytheville

• Score: 76/100
• State rank: #116
• US rank: #3571

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wytheville, VA
• City population: 14,751
• Population (ZIP): 14,751

Population outlook (Wythe County) Hauer SSP2

• Today (2025): 29,176 people
• By 2030: 28,993 · -0.6%
• By 2040: 28,273 · -3.1%
• By 2050: 27,055 · -7.3%
• By 2075: 23,668 · -18.9%
• By 2100: 18,904 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wythe

• 2024 margin: Solid R (+59.5) · D 19.9% · R 79.5%
• 2008→2024 swing: -26.7pp toward R · 2008: -32.8pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.0 2016: R+54.9 2012: R+36.8 2008: R+32.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 191.6387
• 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

+97.3% since first listed

4 events — show timeline

• 2026-06-21 Listed $224,900 SWVAR
• 2022-02-28 Sold (Public Records) $108,000 Public Records
• 2022-02-28 Sold (MLS) $108,000 SWVAR
• 2021-09-02 Listed $114,000 SWVAR

Property tax history

+3.4%/yr

Latest (2025): $589 · +0.0% YoY. Source: county tax records.