220 Gillispie Rd · Pounding Mill, VA 24637

$100,000

4 bd · 1.0 ba · 1,776 sqft · Manufactured public records · 73 Days on market

Built 1971 0.87 ac lot $56/sqft · 38% below area Est $162k · 38% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Schools +6.0/10.0
• Appreciation +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Experience the comfort of country living in this roomy one-level home, perfectly situated between Richlands and Tazewell. You'll enjoy a peaceful rural atmosphere while still being just a short drive from everyday conveniences. Originally a singlewide manufactured home, it has been expanded over time to create a generous 1,776 sq. ft. of living space. With 3 to 4 bedrooms, the layout offers plenty of flexibility--ideal for a first home, a weekend getaway, or a relaxing place to settle into retirement. The property includes a metal outbuilding and a charming vinyl-sided garage that has doubled as a woodworking shop and a great spot for hobbies or casual hangouts. The level backyard is perfect for gatherings, outdoor games, or simply unwinding in the fresh air. Adding to its unique charm, the home is accessed through a quaint railroad underpass, giving the property a sense of privacy and character you won't find just anywhere. Come explore the possibilities and discover the charm this home has to offer!

Key facts

• 0.87 acre lot
• Garage
• Built 1971

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Tazewell County Public School District (town): math 67% / reading 78% proficiency, ranked #21 of 131 in VA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 29 active listings in the ZIP; 4 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $265 of equity ($691 loan paydown + $-426 appreciation (-0.4% local appreciation)).
• Tazewell County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1971 — 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. 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: 1.24% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.7

CMA / ARV

• ARV (median comp): $161,570
• List price: $100,000
• Delta: -38.11%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-0.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.67×
• Total profit: $18,878
• Equity at exit: $26,924

10-year hold

• IRR: 19.5%
• Equity multiple: 3.07×
• Total profit: $57,892
• Equity at exit: $30,722

Cash invested: $28,000 (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 24637

• Home prices YoY: -0.3%
• Active inventory: 29
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$38 /mo · $454/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $374

Break-even live

Break-even rent $764

Max offer price $100,000

Occupancy floor 65%

Sensitivity live

Price	-10% $431	-5% $402	+0% $374	+5% $346	+10% $317
Rent	-10% $276	-5% $325	+0% $374	+5% $423	+10% $472
Rate	-1.0pp $424	-0.5pp $400	base $374	+0.5pp $348	+1.0pp $322

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $100,000 Active 73 DOM
2. 2026-06-18
   days on market $100,000 Active 72 DOM
3. 2026-06-17
   days on market $100,000 Active 71 DOM
4. 2026-06-16
   days on market $100,000 Active 70 DOM
5. 2026-06-15
   days on market $100,000 Active 69 DOM
6. 2026-06-14
   days on market $100,000 Active 67 DOM
7. 2026-06-12
   days on market $100,000 Active 66 DOM
8. 2026-06-09
   days on market $100,000 Active 63 DOM
9. 2026-06-08
   days on market $100,000 Active 62 DOM
10. 2026-06-07
    days on market $100,000 Active 61 DOM
11. 2026-06-03
    days on market $100,000 Active 57 DOM
12. 2026-06-02
    days on market $100,000 Active 56 DOM
13. 2026-06-01
    days on market $100,000 Active 55 DOM
14. 2026-05-31
    days on market $100,000 Active 54 DOM
15. 2026-05-30
    days on market $100,000 Active 53 DOM
16. 2026-04-07
    listed $100,000 Active 1016-char remark

    Show marketing remark (1021 chars)

    Experience the comfort of country living in this roomy one-level home, perfectly situated between Richlands and Tazewell. You'll enjoy a peaceful rural atmosphere while still being just a short drive from everyday conveniences. Originally a singlewide manufactured home, it has been expanded over time to create a generous 1,776 sq. ft. of living space. With 3 to 4 bedrooms, the layout offers plenty of flexibility—ideal for a first home, a weekend getaway, or a relaxing place to settle into retirement. The property includes a metal outbuilding and a charming vinyl-sided garage that has doubled as a woodworking shop and a great spot for hobbies or casual hangouts. The level backyard is perfect for gatherings, outdoor games, or simply unwinding in the fresh air. Adding to its unique charm, the home is accessed through a quaint railroad underpass, giving the property a sense of privacy and character you won't find just anywhere. Come explore the possibilities and discover the charm this home has to offer!

17. 2026-04-07
    listed $100,000 Active 1021-char remark

    Show marketing remark (1021 chars)

    Experience the comfort of country living in this roomy one-level home, perfectly situated between Richlands and Tazewell. You'll enjoy a peaceful rural atmosphere while still being just a short drive from everyday conveniences. Originally a singlewide manufactured home, it has been expanded over time to create a generous 1,776 sq. ft. of living space. With 3 to 4 bedrooms, the layout offers plenty of flexibility—ideal for a first home, a weekend getaway, or a relaxing place to settle into retirement. The property includes a metal outbuilding and a charming vinyl-sided garage that has doubled as a woodworking shop and a great spot for hobbies or casual hangouts. The level backyard is perfect for gatherings, outdoor games, or simply unwinding in the fresh air. Adding to its unique charm, the home is accessed through a quaint railroad underpass, giving the property a sense of privacy and character you won't find just anywhere. Come explore the possibilities and discover the charm this home has to offer!

ⓘ 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: $454 · $38/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$366/yr (+$31/mo · 80.8%)

ⓘ 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 8 d/yr ≥90°F today · 24 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: $14,855
• − Mortgage interest: −$5,602
• − Property taxes: −$454
• − Insurance: −$500
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$2,909
• Taxable income: $3,014
• Est. tax owed @ 24.0%: −$723
• After-tax cash flow: $3,765/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: Tazewell County Public School District
• NCES district ID: 5103810
• Math proficiency: 67% ▼ -23.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $37,003
• Composite: 60.16/100
• National rank: #865
• State rank: #21 of 131 in VA

Livability — Pounding Mill

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,595

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 38,275 people
• By 2030: 35,719 · -6.7%
• By 2040: 30,875 · -19.3%
• By 2050: 26,798 · -30.0%
• By 2075: 19,286 · -49.6%
• By 2100: 13,631 · -64.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Black 1%
• Common ancestry: Serbian 1% Slovak 1% Italian 0%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Tazewell

• 2024 margin: Solid R (+68.9) · D 15.3% · R 84.2%
• 2008→2024 swing: -36.0pp toward R · 2008: -32.9pp · 2024: -68.9pp
• All cycles: 2024: R+68.9 2020: R+67.2 2016: R+66.3 2012: R+57.5 2008: R+32.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.43%
• Current HPI: 160.9238
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-07 Listed $100,000 TVRMLS
• 2026-04-07 Listed $100,000 SWVAR

Property tax history

+5.3%/yr

Latest (2025): $454 · +0.0% YoY. Source: county tax records.