1819 Us Highway 211 W · Luray, VA 22835

$229,900

3 bd · 2.5 ba · 1,551 sqft · SingleFamily public records · 239 Days on market

Built 1934 0.58 ac lot $148/sqft · 29% below area Est $324k · 29% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

Key facts

• Shared well location
• Great location
• Half acre lot

Tags

• HALF ACRE LOT
• SHARED WELL LOCATION
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $81 ($969/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 $187k (18.7% below list).
• Recommended offer: $187k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% in Luray — 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 77/100 on livability (#93 in VA, #3,012 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, commute F.
• Page County Public School District (rural): math 42% / reading 62% proficiency, ranked #96 of 131 in VA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 164 units permitted in Page County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Page County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $70k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,916 (18.7% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — 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 B-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: 0.81% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 10.2

CMA / ARV

• ARV (median comp): $323,920
• List price: $229,900
• Delta: -29.03%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-32,201
• Equity at exit: $34,279

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-21,785
• Equity at exit: $19,878

Cash invested: $64,372 (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 22835

• Home prices YoY: -3.7%
• Active inventory: 112
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $81

Break-even live

Break-even rent $1,767

Max offer price $229,900

Occupancy floor 91%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 Allison Dr Luray, VA	3.0	2.5	1657	$1,775	$1.07	22d	1	0.43mi
187 Caterpillar Dr Luray, VA	3.0	2.5	1657	$2,350	$1.42	1d	1	0.44mi
183 Caterpillar Dr Luray, VA	3.0	2.5	1500	$1,750	$1.17	4d	1	0.45mi
254 Baker Dr Luray, VA	3.0	2.5	1657	$1,649	$1.00	1d	1	0.49mi
151 Rae Ct Unit 151 Luray, VA	3.0	2.5	1500	$1,800	$1.20	1d	1	0.52mi

Listing history 26 events

1. 2026-06-19
   days on market $229,900 Active 239 DOM
2. 2026-06-18
   days on market $229,900 Active 238 DOM
3. 2026-06-17
   days on market $229,900 Active 237 DOM
4. 2026-06-16
   days on market $229,900 Active 236 DOM
5. 2026-06-15
   days on market $229,900 Active 235 DOM
6. 2026-06-14
   days on market $229,900 Active 233 DOM
7. 2026-06-13
   days on market $229,900 Active 232 DOM
8. 2026-06-10
   days on market $229,900 Active 230 DOM
9. 2026-06-09
   days on market $229,900 Active 229 DOM
10. 2026-06-08
    days on market $229,900 Active 228 DOM
11. 2026-06-07
    days on market $229,900 Active 227 DOM
12. 2026-06-02
    days on market $229,900 Active 222 DOM
13. 2026-06-01
    days on market $229,900 Active 221 DOM
14. 2026-05-31
    days on market $229,900 Active 220 DOM
15. 2026-05-30
    days on market $229,900 Active 219 DOM
16. 2026-04-22
    status Active 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

17. 2026-03-02
    historical Active Under Contract 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

18. 2026-02-24
    price $229,900 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

19. 2025-12-02
    price $239,900 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

20. 2025-10-17
    price $259,900 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

21. 2025-09-30
    price $279,900 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

22. 2025-09-02
    listed $299,900 Active 539-char remark

    Show marketing remark (539 chars)

    Two Homes are Better Than One! This unique property features two homes on one, half acre lot! There is a one bedroom home and a three bedroom home. Whether you're looking to live in one home and rent the other, bring family close while keeping privacy or double your investment potential, this is your chance to make it happen. Permits are on file locating the shared well location and 4 bedroom shared alternative septic system location that will service this property. This property is in a great location near shopping and restaurants!

23. 2025-03-04
    historical
24. 2023-11-27
    listed $1,000,000 Active
25. 2023-11-08
    historical
26. 2022-09-22
    listed $1,000,000 Active

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,885 · $157/mo
• Expected delta: +$751/yr (+$63/mo · 66.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,430
• − Mortgage interest: −$12,878
• − Property taxes: −$1,134
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,794
• − Management: −$1,794
• − Depreciation: −$6,688
• Taxable loss: −$3,008
• Est. tax savings @ 24.0%: +$722
• After-tax cash flow: $1,691/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: Page County Public School District
• NCES district ID: 5102850
• Math proficiency: 42% ▼ -35.00%
• Reading proficiency: 62% ▼ -10.00%
• Median HH income: $43,808
• Composite: 43.77/100
• National rank: #2943
• State rank: #96 of 131 in VA

Livability — Luray

• Score: 77/100
• State rank: #93
• US rank: #3012

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,358
• Population (ZIP): 11,358

Population outlook (Page County) Hauer SSP2

• Today (2025): 22,843 people
• By 2030: 22,147 · -3.0%
• By 2040: 20,427 · -10.6%
• By 2050: 18,461 · -19.2%
• By 2075: 14,363 · -37.1%
• By 2100: 10,678 · -53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Black 4% Two or more races 3%
• Common ancestry: Slovak 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Arabic 1% Spanish 1%

Political lean MEDSL · Page

• 2024 margin: Solid R (+54.1) · D 22.5% · R 76.6%
• 2008→2024 swing: -36.7pp toward R · 2008: -17.4pp · 2024: -54.1pp
• All cycles: 2024: R+54.1 2020: R+50.6 2016: R+49.8 2012: R+25.7 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.88%
• Current HPI: 312.1156
• 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

-77.0% since first listed

11 events — show timeline

• 2026-04-22 Relisted — BRIGHT MLS
• 2026-03-02 Contingent — BRIGHT MLS
• 2026-02-24 Price Changed $229,900 BRIGHT MLS
• 2025-12-02 Price Changed $239,900 BRIGHT MLS
• 2025-10-17 Price Changed $259,900 BRIGHT MLS
• 2025-09-30 Price Changed $279,900 BRIGHT MLS
• 2025-09-02 Listed $299,900 BRIGHT MLS
• 2025-03-04 Listing Removed — BRIGHT MLS
• 2023-11-27 Listed $1,000,000 BRIGHT MLS
• 2023-11-08 Listing Removed — BRIGHT MLS
• 2022-09-22 Listed $1,000,000 BRIGHT MLS

Property tax history

-0.4%/yr

Latest (2025): $1,134 · +0.0% YoY. Source: county tax records.