34520 Fleet Rd · Glade Spring, VA 24340

$130,000

3 bd · 2.0 ba · 1,415 sqft · SingleFamily public records · 156 Days on market

Built 1960 0.49 ac lot $92/sqft · 24% below area Est $170k · 24% under ↓ 10% since listing

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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 +17.9/30.0
• ARV discount +15.0/15.0
• Schools +6.2/10.0
• Appreciation +5.7/10.0
• DSCR +5.6/10.0
• 1% rule +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Brick house offering living room, kitchen, 4 bedrooms, 2 baths, office, full unfinished basement and metal roof. Washer and dryer hookups are located in the basement featuring a heat pump for heating and cooling. There is a small home with vinyl siding, 768 sq. ft. , living room, kitchen, 1 bedroom and 1 bath. Has no heating or cooling. Both dwellings share the septic system and are fixers. Buyer and buyer's agent to verify all information in this listing. Subject to Errors and Omissions.

Key facts

• Metal roof
• Vinyl siding
• Septic system

Tags

• FULL UNFINISHED BASEMENT
• METAL ROOF
• VINYL SIDING
• SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $42 ($503/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 $118k (9.2% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.2% in Glade Spring — 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 (#399 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities F.
• Washington County Public School District (rural): math 68% / reading 79% proficiency, ranked #15 of 131 in VA (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Meadowview Elementary (math 63% / reading 74%, grade B+, #357 of 1,108 statewide, top 33%, 551 students, 89% FRL); Glade Spring Middle (math 70% / reading 74%, grade A, #65 of 342 statewide, top 21%, 254 students, 80% FRL); Patrick Henry High (math 62% / reading 82%, grade B+, #134 of 319 statewide, top 45%, 366 students, 66% FRL) — zoned schools average 78% FRL vs 42% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 36 active listings in the ZIP; 99 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($899 loan paydown + $2k appreciation (1.4% local appreciation)).
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• GRM: 9.2

CMA / ARV

• ARV (median comp): $170,031
• List price: $130,000
• Delta: -23.54%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34507 Fleet Rd	0.04mi	3/2.0	1,299 (-8%)	1mo	$172,000	$132	84
9433 Legend Dr	0.45mi	3/1.0	1,511 (+7%)	11mo	$185,000	$122	55

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

Projected returns pro-forma

1.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.20×
• Total profit: $7,391
• Equity at exit: $46,802

10-year hold

• IRR: 8.1%
• Equity multiple: 2.02×
• Total profit: $37,183
• Equity at exit: $64,114

Cash invested: $36,400 (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 24340

• Home prices YoY: 0.8%
• Active inventory: 36
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $42

Break-even live

Break-even rent $1,127

Max offer price $130,000

Occupancy floor 91%

Sensitivity live

Price	-10% $116	-5% $79	+0% $42	+5% $5	+10% $-32
Rent	-10% $-51	-5% $-5	+0% $42	+5% $89	+10% $135
Rate	-1.0pp $107	-0.5pp $75	base $42	+0.5pp $8	+1.0pp $-26

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $130,000 Active 156 DOM
2. 2026-06-19
   days on market $130,000 Active 154 DOM
3. 2026-06-18
   days on market $130,000 Active 153 DOM
4. 2026-06-17
   days on market $130,000 Active 152 DOM
5. 2026-06-16
   days on market $130,000 Active 151 DOM
6. 2026-06-15
   days on market $130,000 Active 150 DOM
7. 2026-06-14
   days on market $130,000 Active 148 DOM
8. 2026-06-13
   days on market $130,000 Active 147 DOM
9. 2026-06-10
   days on market $130,000 Active 145 DOM
10. 2026-06-09
    days on market $130,000 Active 144 DOM
11. 2026-06-08
    days on market $130,000 Active 143 DOM
12. 2026-06-07
    days on market $130,000 Active 142 DOM
13. 2026-06-02
    days on market $130,000 Active 137 DOM
14. 2026-06-01
    days on market $130,000 Active 136 DOM
15. 2026-05-31
    days on market $130,000 Active 135 DOM
16. 2026-05-30
    days on market $130,000 Active 134 DOM
17. 2026-05-07
    price $130,000 493-char remark

    Show marketing remark (493 chars)

    Brick house offering living room, kitchen, 4 bedrooms, 2 baths, office, full unfinished basement and metal roof. Washer and dryer hookups are located in the basement featuring a heat pump for heating and cooling. There is a small home with vinyl siding, 768 sq. ft. , living room, kitchen, 1 bedroom and 1 bath. Has no heating or cooling. Both dwellings share the septic system and are fixers. Buyer and buyer's agent to verify all information in this listing. Subject to Errors and Omissions.

18. 2026-02-18
    price $135,500 493-char remark

    Show marketing remark (493 chars)

    Brick house offering living room, kitchen, 4 bedrooms, 2 baths, office, full unfinished basement and metal roof. Washer and dryer hookups are located in the basement featuring a heat pump for heating and cooling. There is a small home with vinyl siding, 768 sq. ft. , living room, kitchen, 1 bedroom and 1 bath. Has no heating or cooling. Both dwellings share the septic system and are fixers. Buyer and buyer's agent to verify all information in this listing. Subject to Errors and Omissions.

19. 2026-01-14
    listed $149,900 Active 493-char remark

    Show marketing remark (493 chars)

    Brick house offering living room, kitchen, 4 bedrooms, 2 baths, office, full unfinished basement and metal roof. Washer and dryer hookups are located in the basement featuring a heat pump for heating and cooling. There is a small home with vinyl siding, 768 sq. ft. , living room, kitchen, 1 bedroom and 1 bath. Has no heating or cooling. Both dwellings share the septic system and are fixers. Buyer and buyer's agent to verify all information in this listing. Subject to Errors and Omissions.

20. 2022-07-29
    soldstatus $147,500 931-char remark

    Show marketing remark (931 chars)

    Great neighborhood and lots of potential. Three bedroom, two bath home situated on a half acre lot in Washington Co, VA. , just minutes from I-81. Two additional small rooms that could be used as an office or craft room. New laminate flooring in kitchen, replacement windows and a new Alternative Treatment Unit costing over $9,000. This ATU septic system has a warranty that will convey to new owner. A detached garage that has been converted into an efficiency apartment/mother-in-law suite. The apartment has one bedroom, one bath with open floor plan. Kitchen includes stove/oven and refrigerator. Apartment has it's own separate, paved driveway and could easily be converted back to a garage if you choose. Both needs some TLC and is being sold as-is. Home inspection may be done but is for informational purposes only. This home is priced to sell in it's current condition. Seller is willing to negotiate a repair concession.

21. 2022-07-29
    soldstatus $147,500

    Show marketing remark (931 chars)

    Great neighborhood and lots of potential. Three bedroom, two bath home situated on a half acre lot in Washington Co, VA. , just minutes from I-81. Two additional small rooms that could be used as an office or craft room. New laminate flooring in kitchen, replacement windows and a new Alternative Treatment Unit costing over $9,000. This ATU septic system has a warranty that will convey to new owner. A detached garage that has been converted into an efficiency apartment/mother-in-law suite. The apartment has one bedroom, one bath with open floor plan. Kitchen includes stove/oven and refrigerator. Apartment has it's own separate, paved driveway and could easily be converted back to a garage if you choose. Both needs some TLC and is being sold as-is. Home inspection may be done but is for informational purposes only. This home is priced to sell in it's current condition. Seller is willing to negotiate a repair concession.

22. 2022-07-29
    soldstatus $147,500

    Show marketing remark (931 chars)

    Great neighborhood and lots of potential. Three bedroom, two bath home situated on a half acre lot in Washington Co, VA. , just minutes from I-81. Two additional small rooms that could be used as an office or craft room. New laminate flooring in kitchen, replacement windows and a new Alternative Treatment Unit costing over $9,000. This ATU septic system has a warranty that will convey to new owner. A detached garage that has been converted into an efficiency apartment/mother-in-law suite. The apartment has one bedroom, one bath with open floor plan. Kitchen includes stove/oven and refrigerator. Apartment has it's own separate, paved driveway and could easily be converted back to a garage if you choose. Both needs some TLC and is being sold as-is. Home inspection may be done but is for informational purposes only. This home is priced to sell in it's current condition. Seller is willing to negotiate a repair concession.

23. 2022-05-09
    listed $144,000 931-char remark

    Show marketing remark (931 chars)

    Great neighborhood and lots of potential. Three bedroom, two bath home situated on a half acre lot in Washington Co, VA. , just minutes from I-81. Two additional small rooms that could be used as an office or craft room. New laminate flooring in kitchen, replacement windows and a new Alternative Treatment Unit costing over $9,000. This ATU septic system has a warranty that will convey to new owner. A detached garage that has been converted into an efficiency apartment/mother-in-law suite. The apartment has one bedroom, one bath with open floor plan. Kitchen includes stove/oven and refrigerator. Apartment has it's own separate, paved driveway and could easily be converted back to a garage if you choose. Both needs some TLC and is being sold as-is. Home inspection may be done but is for informational purposes only. This home is priced to sell in it's current condition. Seller is willing to negotiate a repair concession.

24. 2022-05-09
    listed $144,000

    Show marketing remark (931 chars)

    Great neighborhood and lots of potential. Three bedroom, two bath home situated on a half acre lot in Washington Co, VA. , just minutes from I-81. Two additional small rooms that could be used as an office or craft room. New laminate flooring in kitchen, replacement windows and a new Alternative Treatment Unit costing over $9,000. This ATU septic system has a warranty that will convey to new owner. A detached garage that has been converted into an efficiency apartment/mother-in-law suite. The apartment has one bedroom, one bath with open floor plan. Kitchen includes stove/oven and refrigerator. Apartment has it's own separate, paved driveway and could easily be converted back to a garage if you choose. Both needs some TLC and is being sold as-is. Home inspection may be done but is for informational purposes only. This home is priced to sell in it's current condition. Seller is willing to negotiate a repair concession.

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$13/yr (+$1/mo · 1.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 23 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: $14,157
• − Mortgage interest: −$7,282
• − Property taxes: −$1,053
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$3,782
• Taxable loss: −$1,672
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $904/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: Washington County Public School District
• NCES district ID: 5103900
• Math proficiency: 68% ▼ -23.00%
• Reading proficiency: 79% ▼ -7.00%
• Median HH income: $42,412
• Composite: 61.5/100
• National rank: #754
• State rank: #15 of 131 in VA

Livability — Glade Spring

• Score: 62/100
• State rank: #399
• US rank: #16421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,173

Population outlook (Washington County) Hauer SSP2

• Today (2025): 53,266 people
• By 2030: 52,284 · -1.8%
• By 2040: 49,415 · -7.2%
• By 2050: 45,683 · -14.2%
• By 2075: 37,258 · -30.1%
• By 2100: 27,983 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Black 2% Two or more races 1%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+53.3) · D 23.0% · R 76.3%
• 2008→2024 swing: -20.6pp toward R · 2008: -32.7pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+52.5 2016: R+53.5 2012: R+43.2 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.36%
• Current HPI: 180.6398
• 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

-9.7% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $130,000 TVRMLS
• 2026-02-18 Price Changed $135,500 TVRMLS
• 2026-01-14 Listed $149,900 TVRMLS
• 2022-07-29 Sold (Public Records) $147,500 Public Records
• 2022-07-29 Sold (MLS) $147,500 SWVAR
• 2022-07-29 Sold (MLS) $147,500 TVRMLS
• 2022-05-09 Listed $144,000 SWVAR
• 2022-05-09 Listed $144,000 TVRMLS

Property tax history

+2.0%/yr

Latest (2025): $1,053 · +28.7% YoY. Source: county tax records.