263 Hopkins Rd · Parrott, VA 24134

$34,500

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 78 Days on market

Built 1945 3.18 ac lot $40/sqft · 85% below area ↓ 19% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to purchase a property with a new survey, 3.179 acres in two tax parcels, a home, and a detached garage in need of updating. Call with any questions and for a private showing!

Key facts

• 2 tax parcels
• 3.179 acres
• Detached garage

Tags

• 3.179 ACRES
• 2 TAX PARCELS
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $34k).
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 39/100 on livability (#578 in VA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Giles County Public School District (rural): math 56% / reading 68% proficiency, ranked #54 of 131 in VA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 25 units permitted in Giles County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $239 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Giles County population projected at -18% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $32,429 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.49% ✓
• Cap rate: 22.51%
• Cash-on-cash: 57.92%
• DSCR: 3.58
• GRM: 3.3

CMA / ARV

• ARV (median comp): $235,307
• List price: $34,500
• Delta: -85.34%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 47.4%
• Equity multiple: 3.06×
• Total profit: $19,910
• Equity at exit: $5,144

10-year hold

• IRR: 53.1%
• Equity multiple: 6.20×
• Total profit: $50,279
• Equity at exit: $2,983

Cash invested: $9,660 (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 24134

• Home prices YoY: -22.0%
• Active inventory: 37
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $861 medium
• Mortgage (P&I): −$181
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$14
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $400

Break-even live

Break-even rent $355

Max offer price $34,500

Occupancy floor 49%

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: $8,625
• Closing costs: $1,035
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   statusdays on market $34,500 Pending 78 DOM
2. 2026-06-08
   days on market $34,500 Active 77 DOM
3. 2026-06-07
   days on market $34,500 Active 76 DOM
4. 2026-06-03
   days on market $34,500 Active 72 DOM
5. 2026-06-02
   days on market $34,500 Active 71 DOM
6. 2026-06-01
   days on market $34,500 Active 70 DOM
7. 2026-05-31
   days on market $34,500 Active 69 DOM
8. 2026-05-30
   days on market $34,500 Active 68 DOM
9. 2026-04-21
   price $42,500 193-char remark

   Show marketing remark (193 chars)

   Great opportunity to purchase a property with a new survey, 3.179 acres in two tax parcels, a home, and a detached garage in need of updating. Call with any questions and for a private showing!

10. 2026-03-23
    listed $52,500 Active 193-char remark

    Show marketing remark (193 chars)

    Great opportunity to purchase a property with a new survey, 3.179 acres in two tax parcels, a home, and a detached garage in need of updating. Call with any questions and for a private showing!

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $283 · $24/mo
• Expected delta: +$63/yr (+$5/mo · 28.8%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 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: $10,326
• − Mortgage interest: −$1,933
• − Property taxes: −$220
• − Insurance: −$970
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$1,004
• Taxable income: $4,548
• Est. tax owed @ 24.0%: −$1,092
• After-tax cash flow: $3,706/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: Giles County Public School District
• NCES district ID: 5101590
• Math proficiency: 56% ▼ -26.00%
• Reading proficiency: 68% ▼ -8.00%
• Median HH income: $45,394
• Composite: 52.25/100
• National rank: #1600
• State rank: #54 of 131 in VA

Livability — Parrott

• Score: 39/100
• State rank: #578
• US rank: #27384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,296

Population outlook (Giles County) Hauer SSP2

• Today (2025): 15,868 people
• By 2030: 15,306 · -3.5%
• By 2040: 14,149 · -10.8%
• By 2050: 13,059 · -17.7%
• By 2075: 10,837 · -31.7%
• By 2100: 8,648 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 5% Asian 1%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2% Tagalog/Filipino 1%

Political lean MEDSL · Giles

• 2024 margin: Solid R (+54.5) · D 22.4% · R 76.9%
• 2008→2024 swing: -38.2pp toward R · 2008: -16.3pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+51.4 2016: R+48.6 2012: R+25.6 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.90%
• Current HPI: 208.9095
• 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

-19.0% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $42,500 NRVMLS
• 2026-03-23 Listed $52,500 NRVMLS

Property tax history

+0.2%/yr

Latest (2025): $220 · +0.0% YoY. Source: county tax records.