624 NE Eighth St · Pulaski, VA 24301

$159,900

3 bd · 1.5 ba · 1,576 sqft · SingleFamily · 10 Days on market

Built 1885 0.37 ac lot Est $167k · 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 +24.1/30.0
• ARV discount +9.4/15.0
• DSCR +7.8/10.0
• 1% rule +4.9/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into the perfect blend of charm and modern comfort in this beautifully updated 3 bedroom 1.5 bath home. Featuring updated finishes throughout, this home offers character you simply can't find in newer construction. The inviting kitchen has been thoughtfully updated with white cabinetry, modern countertops, stainless fixtures, and ample counter space creating a bright and functional heart of the home. Spacious living areas provide plenty of room to relax and entertain, while the tall ceilings and large windows create an open, airy feel throughout. The homes three bedrooms offer flexibility for families, guests, or a home office setup. Updated flooring, neutral paint colors, and tasteful

Key facts

• 0.37 acre lot
• Built 1885
• Listed 10 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One story
• Construction: Vinyl siding
• Exterior features: Garden; Deck

Interior

• Kitchen: Dishwasher; Oven; Electric range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump (heating provided)
• Interior features: Finished basement; Garden access from the home
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/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 $158k (1.2% below list).
• Recommended offer: $158k (1.2% below list) — sets the bar for 1% rule.
• Cap rate 8.7% vs local median 5.5% in Pulaski — 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 67/100 on livability (#297 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pulaski Elementary (math 56% / reading 62%, grade B-, #571 of 1,108 statewide, top 52%, 500 students, 81% FRL); Pulaski County Middle (math 38% / reading 60%, grade C-, #238 of 342 statewide, top 71%, 807 students, 77% FRL); Pulaski County Senior High (math 63% / reading 70%, grade B, #195 of 319 statewide, top 62%, 1,246 students, 76% FRL) — zoned schools average 78% FRL vs 47% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 39 units permitted in Pulaski County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Pulaski County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,000 (1.2% below list)

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 0.99% ✗
• Cap rate: 8.66%
• Cash-on-cash: 8.45%
• DSCR: 1.38
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $167,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Peppers Ferry Rd	0.13mi	4/1.5 (+1)	1,490 (-6%)	16mo	$108,000	$72	67
721 Gateway Dr	0.40mi	3/1.0	1,511 (-4%)	8mo	$159,900	$106	66
712 Orchard Rd	0.29mi	3/1.0	1,420 (-10%)	7mo	$172,500	$121	62
225 Linden Cir	0.44mi	3/1.0	1,598 (+1%)	16mo	$148,400	$93	62
601 NE 4th St	0.27mi	4/3.0 (+1)	1,700 (+8%)	11mo	$249,000	$146	54
1116 Taylor St	0.59mi	3/1.0	1,480 (-6%)	8mo	$156,000	$105	54
1012 Oak St	0.55mi	3/1.0	1,424 (-10%)	4mo	$45,000	$32	53
329 Northwood Dr	0.44mi	3/1.5	1,744 (+11%)	17mo	$140,000	$80	48
700 Cardinal Dr	0.40mi	3/2.0	1,736 (+10%)	21mo	$249,900	$144	45
820 Newbern Rd	0.42mi	3/2.0	1,404 (-11%)	18mo	$222,500	$158	45
109 Spruce St	0.74mi	3/1.0	1,379 (-12%)	6mo	$33,500	$24	37
1100 Prospect Ave	0.74mi	3/2.0	1,716 (+9%)	14mo	$240,000	$140	37

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-5,915
• Equity at exit: $23,842

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $20,369
• Equity at exit: $13,825

Cash invested: $44,772 (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 24301

• Active inventory: 114
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $315

Break-even live

Break-even rent $1,181

Max offer price $159,900

Occupancy floor 75%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Pico Ter Pulaski, VA	3.0	1.0–2.0	882	$1,580	$1.79	43d	11	0.23mi

Listing history 9 events

1. 2026-06-13
   status $159,900 Pending 10 DOM
2. 2026-06-10
   days on market $159,900 Active 10 DOM
3. 2026-06-09
   days on market $159,900 Active 9 DOM
4. 2026-06-08
   days on market $159,900 Active 8 DOM
5. 2026-06-07
   days on market $159,900 Active 7 DOM
6. 2026-06-05
   days on market $159,900 Active 4 DOM
7. 2026-06-02
   days on market $159,900 Active 2 DOM
8. 2026-06-01
   remarks 699-char remark
9. 2026-06-01
   listed $159,900 Active 1 DOM

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$977/yr (+$81/mo · 292.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥93°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $18,960
• − Mortgage interest: −$8,957
• − Property taxes: −$334
• − Insurance: −$800
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,652
• Taxable income: $1,185
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $3,498/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: Pulaski County Public School District
• NCES district ID: 5103150
• Math proficiency: 48% ▼ -31.00%
• Reading proficiency: 61% ▼ -13.00%
• Median HH income: $44,912
• Composite: 45.98/100
• National rank: #2537
• State rank: #86 of 131 in VA

Livability — Pulaski

• Score: 67/100
• State rank: #297
• US rank: #10639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pulaski, VA
• Population (ZIP): 13,370

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 32,949 people
• By 2030: 31,812 · -3.5%
• By 2040: 29,224 · -11.3%
• By 2050: 26,691 · -19.0%
• By 2075: 21,312 · -35.3%
• By 2100: 15,697 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Italian 2% Iranian 1%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+44.7) · D 27.3% · R 72.0%
• 2008→2024 swing: -25.1pp toward R · 2008: -19.5pp · 2024: -44.7pp
• All cycles: 2024: R+44.7 2020: R+41.5 2016: R+40.7 2012: R+24.8 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.98%
• Current HPI: 144.6556
• 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

+363.5% since first listed

4 events — show timeline

• 2026-05-31 Listed $159,900 NRVMLS
• 2024-04-26 Sold (Public Records) $120,000 Public Records
• 2018-04-06 Sold (Public Records) $5,000 Public Records
• 1998-12-01 Sold (Public Records) $34,500 Public Records

Property tax history

+1.3%/yr

Latest (2026): $334 · +0.0% YoY. Source: county tax records.