550 Tazewell St · Wytheville, VA 24382

$189,900

2 bd · 1.5 ba · 1,680 sqft · SingleFamily public records · 102 Days on market

Built 1890 0.49 ac lot $113/sqft · 11% below area Est $212k · 11% 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 +25.8/30.0
• ARV discount +12.3/15.0
• DSCR +8.6/10.0
• Schools +6.0/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step back in time with this charming 1890 farmhouse in the heart of Wytheville. Discover a rare blend of history, character, and in-town convenience with this preserved 1890 farmhouse. Offering 2 bedrooms, 1.5 baths, and 1,680 sq ft, this home sits on a generous, level lot that's perfect for the gardening enthusiast, play, and peaceful outdoor living. Inside, the farmhouse radiates warmth with its timeless details. An * * attached greenhouse—believed to be the first in Wytheville, added in 1956— * * provides year-round growing opportunities. Adding to the uniqueness of this property is a remarkable hand-hewn log structure, once serving as the town's early jailhouse. This historic outbuilding offers endless potential for restoration, display, or creative use. The expansive lot is a gardener's dream, offering ample room for vibrant flower beds, bountiful vegetable gardens, and outdoor gatherings. All of this sits just moments from Wytheville's shops, dining, and small-town charm. If you're seeking history, character, and a truly special place to call home, this one-of-a-kind property is not to be missed. Live the homesteader life right in town!

Key facts

• Expansive lot
• Level lot
• Attached greenhouse

Tags

• ATTACHED GREENHOUSE
• HAND-HEWN LOG STRUCTURE
• EXPANSIVE LOT
• LEVEL LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.3% in Wytheville — 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 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+, schools A; 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.
• Market conditions: 155 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 102 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $137k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.05% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (median comp): $212,484
• List price: $189,900
• Delta: -10.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
470 N 8th St	0.29mi	3/2.5 (+1)	1,720 (+2%)	5mo	$350,000	$203	70
505 E North St	0.33mi	3/2.0 (+1)	1,652 (-2%)	10mo	$249,000	$151	66
400 W Fulton St	0.31mi	3/2.0 (+1)	1,599 (-5%)	14mo	$247,000	$154	59
530 W Fulton St	0.38mi	3/2.0 (+1)	1,768 (+5%)	15mo	$250,000	$141	54
970 N 5th St	0.34mi	3/2.0 (+1)	1,531 (-9%)	10mo	$215,000	$140	54
1210 N N 1st St	0.49mi	3/2.0 (+1)	1,760 (+5%)	14mo	$235,000	$134	51
420 Mountain View Dr	0.37mi	3/2.0 (+1)	1,848 (+10%)	17mo	$236,000	$128	45
100 Umberger St	0.49mi	3/1.5 (+1)	1,434 (-15%)	5mo	$260,000	$181	44
490 W Jefferson St	0.71mi	3/1.0 (+1)	1,528 (-9%)	4mo	$223,500	$146	41
365 N 14th St	0.54mi	3/1.5 (+1)	1,430 (-15%)	6mo	$237,000	$166	40
145 E Withers Rd	0.61mi	3/2.5 (+1)	1,902 (+13%)	2mo	$280,000	$147	38
340 S 11th St	0.62mi	3/1.5 (+1)	1,444 (-14%)	14mo	$118,000	$82	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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,497
• Equity at exit: $28,315

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $36,146
• Equity at exit: $16,419

Cash invested: $53,172 (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: 155
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$44 /mo · $528/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $461

Break-even live

Break-even rent $1,416

Max offer price $189,900

Occupancy floor 72%

Sensitivity live

Price	-10% $569	-5% $515	+0% $461	+5% $407	+10% $354
Rent	-10% $303	-5% $382	+0% $461	+5% $540	+10% $619
Rate	-1.0pp $557	-0.5pp $509	base $461	+0.5pp $412	+1.0pp $362

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 W Ridge St Wytheville, VA	3.0	3.0	2191	$2,000	$0.91	44d	1	0.17mi

Listing history 21 events

1. 2026-06-21
   days on market $189,900 Active 102 DOM
2. 2026-06-18
   days on market $189,900 Active 100 DOM
3. 2026-06-17
   days on market $189,900 Active 99 DOM
4. 2026-06-16
   days on market $189,900 Active 98 DOM
5. 2026-06-15
   days on market $189,900 Active 97 DOM
6. 2026-06-15
   days on market $189,900 Active 96 DOM
7. 2026-06-13
   days on market $189,900 Active 95 DOM
8. 2026-06-12
   days on market $189,900 Active 94 DOM
9. 2026-06-09
   days on market $189,900 Active 91 DOM
10. 2026-06-08
    days on market $189,900 Active 90 DOM
11. 2026-06-08
    days on market $189,900 Active 89 DOM
12. 2026-06-07
    days on market $189,900 Active 88 DOM
13. 2026-06-03
    days on market $189,900 Active 85 DOM
14. 2026-06-02
    pricedays on market $189,900 Active 84 DOM
15. 2026-06-01
    days on market $199,000 Active 83 DOM
16. 2026-05-31
    days on market $199,000 Active 82 DOM
17. 2026-04-23
    price $199,000 1175-char remark

    Show marketing remark (1175 chars)

    Step back in time with this charming 1890 farmhouse in the heart of Wytheville. Discover a rare blend of history, character, and in-town convenience with this preserved 1890 farmhouse. Offering 2 bedrooms, 1.5 baths, and 1,680 sq ft, this home sits on a generous, level lot that's perfect for the gardening enthusiast, play, and peaceful outdoor living. Inside, the farmhouse radiates warmth with its timeless details. An * * attached greenhouse—believed to be the first in Wytheville, added in 1956— * * provides year-round growing opportunities. Adding to the uniqueness of this property is a remarkable hand-hewn log structure, once serving as the town's early jailhouse. This historic outbuilding offers endless potential for restoration, display, or creative use. The expansive lot is a gardener's dream, offering ample room for vibrant flower beds, bountiful vegetable gardens, and outdoor gatherings. All of this sits just moments from Wytheville's shops, dining, and small-town charm. If you're seeking history, character, and a truly special place to call home, this one-of-a-kind property is not to be missed. Live the homesteader life right in town!

18. 2026-03-10
    listed $210,000 Active 1175-char remark

    Show marketing remark (1175 chars)

    Step back in time with this charming 1890 farmhouse in the heart of Wytheville. Discover a rare blend of history, character, and in-town convenience with this preserved 1890 farmhouse. Offering 2 bedrooms, 1.5 baths, and 1,680 sq ft, this home sits on a generous, level lot that's perfect for the gardening enthusiast, play, and peaceful outdoor living. Inside, the farmhouse radiates warmth with its timeless details. An * * attached greenhouse—believed to be the first in Wytheville, added in 1956— * * provides year-round growing opportunities. Adding to the uniqueness of this property is a remarkable hand-hewn log structure, once serving as the town's early jailhouse. This historic outbuilding offers endless potential for restoration, display, or creative use. The expansive lot is a gardener's dream, offering ample room for vibrant flower beds, bountiful vegetable gardens, and outdoor gatherings. All of this sits just moments from Wytheville's shops, dining, and small-town charm. If you're seeking history, character, and a truly special place to call home, this one-of-a-kind property is not to be missed. Live the homesteader life right in town!

19. 2018-12-21
    soldstatus $137,000 964-char remark

    Show marketing remark (964 chars)

    Step back in time to the 1800's when Tazewell St was the main road through Wytheville and the log Jail was located at 550 Tazewell. The jail still sits in the back yard and has been lovingly well maintained. The home was built around 1890 and is still authentic to the era. There are two large bedrooms and a half-bath on the second floor. The first floor houses the kitchen, laundry, living room, family room and bath. The family room with a fireplace, open beamed ceilings and old wide-plank floors was probably the first section built. It could be converted into a 3rd bedroom. The house has been restored and updated with a heat pump, newer kitchen cabinets, electricity and plumbing. From the kitchen step out on a nice deck and a lovely back yard that stretches back 200+feet. There is an upper porch on the second floor as well as a front screened porch. The small green house on the side has not been used for several years. The basement is a small cellar.

20. 2018-12-21
    soldstatus $137,000

    Show marketing remark (964 chars)

    Step back in time to the 1800's when Tazewell St was the main road through Wytheville and the log Jail was located at 550 Tazewell. The jail still sits in the back yard and has been lovingly well maintained. The home was built around 1890 and is still authentic to the era. There are two large bedrooms and a half-bath on the second floor. The first floor houses the kitchen, laundry, living room, family room and bath. The family room with a fireplace, open beamed ceilings and old wide-plank floors was probably the first section built. It could be converted into a 3rd bedroom. The house has been restored and updated with a heat pump, newer kitchen cabinets, electricity and plumbing. From the kitchen step out on a nice deck and a lovely back yard that stretches back 200+feet. There is an upper porch on the second floor as well as a front screened porch. The small green house on the side has not been used for several years. The basement is a small cellar.

21. 2018-09-20
    listed $137,000 964-char remark

    Show marketing remark (964 chars)

    Step back in time to the 1800's when Tazewell St was the main road through Wytheville and the log Jail was located at 550 Tazewell. The jail still sits in the back yard and has been lovingly well maintained. The home was built around 1890 and is still authentic to the era. There are two large bedrooms and a half-bath on the second floor. The first floor houses the kitchen, laundry, living room, family room and bath. The family room with a fireplace, open beamed ceilings and old wide-plank floors was probably the first section built. It could be converted into a 3rd bedroom. The house has been restored and updated with a heat pump, newer kitchen cabinets, electricity and plumbing. From the kitchen step out on a nice deck and a lovely back yard that stretches back 200+feet. There is an upper porch on the second floor as well as a front screened porch. The small green house on the side has not been used for several years. The basement is a small cellar.

ⓘ 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: $528 · $44/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$1,029/yr (+$86/mo · 195.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 21 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: $24,000
• − Mortgage interest: −$10,637
• − Property taxes: −$528
• − Insurance: −$950
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,524
• Taxable income: $2,521
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $4,927/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

+45.3% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $199,000 SWVAR
• 2026-03-10 Listed $210,000 SWVAR
• 2018-12-21 Sold (Public Records) $137,000 Public Records
• 2018-12-21 Sold (MLS) $137,000 SWVAR
• 2018-09-20 Listed $137,000 SWVAR

Property tax history

+0.5%/yr

Latest (2025): $528 · +0.0% YoY. Source: county tax records.