147 Virginia Ave · Gate City, VA 24251

$125,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 45 Days on market

Built 1970 4,560 sqft lot $130/sqft · at area comps Est $120k · 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 +18.1/30.0
• ARV discount +5.8/15.0
• Schools +5.8/10.0
• DSCR +5.7/10.0
• Appreciation +5.1/10.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This immaculate one-level home has been exceptionally well maintained and offers comfort, convenience, and beautiful mountain views. Featuring a desirable split-bedroom floor plan, one bedroom includes a private half bath while the second offers a full bath with an ADA-accessible shower. The home boasts drywall throughout, abundant storage space, and a spacious covered front porch--the perfect place to relax and enjoy the scenery. Conveniently located just 10 minutes from Kingsport, this move-in ready property combines peaceful living with easy access to town. Public water and sewer. All information herein is deemed reliable but subject to buyer verification.

Key facts

• Covered front porch
• Private half bath
• Easy access to town

Tags

• MOUNTAIN VIEWS
• SPLIT-BEDROOM FLOOR PLAN
• PRIVATE HALF BATH
• ABUNDANT STORAGE SPACE
• COVERED FRONT PORCH
• EASY ACCESS TO TOWN

Property features AI

Finance

• HOA & community: Landscaping (association amenity)

Exterior

• Parking: Driveway; Concrete parking surface
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Single-family house; One level
• Construction: Block foundation; Block and vinyl siding construction; Built with a partial basement
• Exterior features: Covered front porch; Storm door(s); Shingle roof; Level to sloped topography; Has view; Accessible entrance

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Entrance foyer; Open floor plan; Storm windows
• Laundry & utility: Washer hookup; Electric dryer hookup; Partial concrete basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.5% below list).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% in Gate City — 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 62/100 on livability (#400 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Scott County Public School District (rural): math 66% / reading 73% proficiency, ranked #33 of 131 in VA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Shoemaker Elementary (math 64% / reading 72%, grade B+, #366 of 1,108 statewide, top 33%, 450 students, 81% FRL); Gate City Middle (math 74% / reading 71%, grade A, #61 of 342 statewide, top 18%, 333 students, 78% FRL); Gate City High (math 77% / reading 82%, grade A-, #63 of 319 statewide, top 22%, 619 students, 77% FRL) — zoned schools average 79% FRL vs 48% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 50 active listings in the ZIP; 22 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($864 loan paydown + $280 appreciation (0.2% local appreciation)).
• Scott County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. 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: 0.98% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $120,484
• List price: $125,000
• Delta: 3.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
274 Highland St	0.04mi	3/1.0 (+1)	1,008 (+5%)	9mo	$145,000	$144	78
553 Highland St	0.26mi	2/1.0	896 (-7%)	7mo	$150,000	$167	71
455 Highland St	0.16mi	2/1.5	840 (-12%)	23mo	$185,000	$220	50
316 Manville Rd	0.67mi	2/1.5	1,028 (+7%)	11mo	$132,500	$129	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.13×
• Total profit: $4,617
• Equity at exit: $37,704

10-year hold

• IRR: 7.9%
• Equity multiple: 1.88×
• Total profit: $30,929
• Equity at exit: $46,461

Cash invested: $35,000 (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 24251

• Home prices YoY: 0.1%
• Active inventory: 50
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $109

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 86%

Sensitivity live

Price	-10% $195	-5% $152	+0% $109	+5% $66	+10% $22
Rent	-10% $12	-5% $60	+0% $109	+5% $157	+10% $206
Rate	-1.0pp $172	-0.5pp $141	base $109	+0.5pp $76	+1.0pp $43

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 45 DOM
2. 2026-06-21
   days on market $125,000 Active 44 DOM
3. 2026-06-18
   days on market $125,000 Active 42 DOM
4. 2026-06-17
   days on market $125,000 Active 41 DOM
5. 2026-06-16
   days on market $125,000 Active 40 DOM
6. 2026-06-15
   days on market $125,000 Active 39 DOM
7. 2026-06-15
   days on market $125,000 Active 38 DOM
8. 2026-06-13
   days on market $125,000 Active 37 DOM
9. 2026-06-12
   days on market $125,000 Active 36 DOM
10. 2026-06-09
    days on market $125,000 Active 33 DOM
11. 2026-06-08
    days on market $125,000 Active 32 DOM
12. 2026-06-08
    days on market $125,000 Active 31 DOM
13. 2026-06-07
    days on market $125,000 Active 30 DOM
14. 2026-06-03
    days on market $125,000 Active 27 DOM
15. 2026-06-02
    days on market $125,000 Active 26 DOM
16. 2026-06-01
    days on market $125,000 Active 25 DOM
17. 2026-05-31
    days on market $125,000 Active 24 DOM
18. 2026-05-07
    listed $125,000 Active 667-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 8 d/yr ≥100°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: $14,775
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$3,636
• Taxable loss: −$727
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $1,481/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: Scott County Public School District
• NCES district ID: 5103480
• Math proficiency: 66% ▼ -26.00%
• Reading proficiency: 73% ▼ -12.00%
• Median HH income: $36,567
• Composite: 57.65/100
• National rank: #1061
• State rank: #33 of 131 in VA

Livability — Gate City

• Score: 62/100
• State rank: #400
• US rank: #16427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gate City, VA
• Population (ZIP): 7,976

Population outlook (Scott County) Hauer SSP2

• Today (2025): 20,405 people
• By 2030: 19,379 · -5.0%
• By 2040: 17,325 · -15.1%
• By 2050: 15,464 · -24.2%
• By 2075: 11,845 · -42.0%
• By 2100: 8,516 · -58.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 4% Slovak 2% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+70.4) · D 14.5% · R 84.9%
• 2008→2024 swing: -27.3pp toward R · 2008: -43.1pp · 2024: -70.4pp
• All cycles: 2024: R+70.4 2020: R+67.8 2016: R+66.3 2012: R+50.6 2008: R+43.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.22%
• Current HPI: 211.6519
• 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

1 event — show timeline

• 2026-05-07 Listed $125,000 TVRMLS

Property tax history

+3.7%/yr

Latest (2025): $153 · +0.0% YoY. Source: county tax records.