223 Cliff St · Pulaski, VA 24301

$150,000

3 bd · 2.0 ba · 1,566 sqft · SingleFamily · 7 Days on market

Built 1910 0.33 ac lot $96/sqft · at area comps Est $158k · at est.

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Why this score? — see what drove the C+ 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 +25.3/30.0
• ARV discount +9.7/15.0
• DSCR +8.4/10.0
• 1% rule +5.5/10.0
• 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

BIG HOME, Little Budget! Welcome to 223 Cliff Street where an inviting covered porch sets the scene for comfortable everyday living. Well cared for and full of character with an excellent rental history this Pulaski VA home is just what you are looking for. Beautiful vintage wood work, hardwood floors, tiled floors, crown moldings and LARGE LIVING AREAS are awaiting the lucky buyer! A nicely remodeled kitchen offers newer cabinets and counter space galore, tiled floors, decorative backsplash, stainless appliances and room for two cooks is sure to impress. Three upper level bedrooms share a spacious tiled bath. Ample parking and a fully fenced yard offer the ideal place for outdoor entertaining. Look no further, this is the home you have been waiting for!

Key facts

• 0.33 acre lot
• Built 1910
• Listed 7 days

Property features AI

Exterior

• Parking: Asphalt driveway/parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family detached residence; One-story
• Construction: Vinyl siding
• Exterior features: Front porch

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Propane heating; Window air conditioning units
• Interior features: Wood-burning fireplace in the family room; Concrete partial basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 9.0% 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; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $105k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.05% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.9

CMA / ARV

• ARV (median comp): $157,589
• List price: $150,000
• Delta: -4.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
142 Lake St	0.09mi	3/1.5	1,514 (-3%)	3mo	$194,300	$128	86
224 Lagrange St	0.10mi	4/2.0 (+1)	1,652 (+6%)	4mo	$200,000	$121	78
518 Pine Aly	0.15mi	3/2.0	1,400 (-11%)	0mo	$168,000	$120	75
315 Lake St	0.07mi	4/1.0 (+1)	1,430 (-9%)	7mo	$165,000	$115	67
315 S Washington Ave	0.47mi	4/1.5 (+1)	1,614 (+3%)	1mo	$167,000	$103	65
410 Draper Ave	0.69mi	4/2.0 (+1)	1,584 (+1%)	1mo	$190,000	$120	60
527 Randolph Ave	0.66mi	4/2.0 (+1)	1,585 (+1%)	4mo	$217,975	$138	59
24 Second St SE	0.48mi	4/2.0 (+1)	1,480 (-6%)	12mo	$31,000	$21	53
615 Maple St	0.27mi	2/2.0 (-1)	1,692 (+8%)	21mo	$95,000	$56	51
414 S Madison Ave	0.57mi	4/1.0 (+1)	1,491 (-5%)	8mo	$160,000	$107	50
402 Draper Ave	0.69mi	4/3.0 (+1)	1,694 (+8%)	17mo	$195,000	$115	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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,523
• Equity at exit: $22,365

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $25,694
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$56 /mo · $674/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $343

Break-even live

Break-even rent $1,146

Max offer price $150,000

Occupancy floor 73%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Pico Ter Pulaski, VA	3.0	1.0–2.0	882	$1,580	$1.79	43d	11	1.12mi

Listing history 7 events

1. 2026-05-13
   status Pending 690-char remark
2. 2026-05-06
   listed $150,000 Active 690-char remark
3. 2021-06-08
   soldstatus $105,000 764-char remark

   Show marketing remark (764 chars)

   BIG HOME, Little Budget! Welcome to 223 Cliff Street where an inviting covered porch sets the scene for comfortable everyday living. Well cared for and full of character with an excellent rental history this Pulaski VA home is just what you are looking for. Beautiful vintage wood work, hardwood floors, tiled floors, crown moldings and LARGE LIVING AREAS are awaiting the lucky buyer! A nicely remodeled kitchen offers newer cabinets and counter space galore, tiled floors, decorative backsplash, stainless appliances and room for two cooks is sure to impress. Three upper level bedrooms share a spacious tiled bath. Ample parking and a fully fenced yard offer the ideal place for outdoor entertaining. Look no further, this is the home you have been waiting for!

4. 2021-06-08
   soldstatus $105,000

   Show marketing remark (764 chars)

   BIG HOME, Little Budget! Welcome to 223 Cliff Street where an inviting covered porch sets the scene for comfortable everyday living. Well cared for and full of character with an excellent rental history this Pulaski VA home is just what you are looking for. Beautiful vintage wood work, hardwood floors, tiled floors, crown moldings and LARGE LIVING AREAS are awaiting the lucky buyer! A nicely remodeled kitchen offers newer cabinets and counter space galore, tiled floors, decorative backsplash, stainless appliances and room for two cooks is sure to impress. Three upper level bedrooms share a spacious tiled bath. Ample parking and a fully fenced yard offer the ideal place for outdoor entertaining. Look no further, this is the home you have been waiting for!

5. 2021-03-15
   listed $105,000 764-char remark

   Show marketing remark (764 chars)

   BIG HOME, Little Budget! Welcome to 223 Cliff Street where an inviting covered porch sets the scene for comfortable everyday living. Well cared for and full of character with an excellent rental history this Pulaski VA home is just what you are looking for. Beautiful vintage wood work, hardwood floors, tiled floors, crown moldings and LARGE LIVING AREAS are awaiting the lucky buyer! A nicely remodeled kitchen offers newer cabinets and counter space galore, tiled floors, decorative backsplash, stainless appliances and room for two cooks is sure to impress. Three upper level bedrooms share a spacious tiled bath. Ample parking and a fully fenced yard offer the ideal place for outdoor entertaining. Look no further, this is the home you have been waiting for!

6. 2016-01-18
   listed $75,000
7. 2003-09-05
   soldstatus $50,000

ⓘ 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: $674 · $56/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$556/yr (+$46/mo · 82.5%)

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

Taxation est. · year 1

• Rental income: $18,960
• − Mortgage interest: −$8,402
• − Property taxes: −$674
• − Insurance: −$750
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,364
• Taxable income: $1,736
• Est. tax owed @ 24.0%: −$417
• After-tax cash flow: $3,698/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

• Census place: Pulaski, VA
• 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

+200.0% since first listed

7 events — show timeline

• 2026-05-13 Pending — NRVMLS
• 2026-05-06 Listed $150,000 NRVMLS
• 2021-06-08 Sold (Public Records) $105,000 Public Records
• 2021-06-08 Sold (MLS) $105,000 NRVMLS
• 2021-03-15 Listed $105,000 NRVMLS
• 2016-01-18 Listed $75,000 NRVMLS
• 2003-09-05 Sold (Public Records) $50,000 Public Records

Property tax history

+3.4%/yr

Latest (2026): $674 · +0.0% YoY. Source: county tax records.