604 Shakesville Rd · Bristol, VA 24202

$123,000

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 27 Days on market

Built 1948 0.97 ac lot Est $87k · 42% over

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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 +23.9/30.0
• DSCR +7.7/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

Key facts

• Level yard
• Large kitchen
• Updated flooring

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED FLOORING
• LARGE KITCHEN
• FLEXIBLE LIVING AREAS
• LEVEL YARD
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached garage (front entry) with 2 garage spaces; Driveway parking
• Utilities: Public water; Public septic; Electric service
• Home design: Detached property; Estimated year built
• Construction: Aluminum siding; Crawl space foundation
• Exterior features: No tidal water reported; Above-grade structures

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump heating; Heat pump cooling; Electric hot water
• Interior features: Estimated living area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/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 (0.3% below list).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.9% in Bristol — 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 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bristol City Public School District (urban): math 57% / reading 70% proficiency, ranked #53 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 154 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 15 units permitted in Bristol city in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bristol County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $123k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,155 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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 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?
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: 1.00% ✗
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $86,652
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
475 Shakesville Rd	0.15mi	2/1.0	983 (-1%)	20mo	$19,000	$19	75
1549 Kings Mill Pike	0.52mi	3/1.0 (+1)	1,092 (+10%)	9mo	$150,000	$137	47
158 Fuller St	0.72mi	2/1.0	864 (-13%)	0mo	$75,000	$87	44

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-4,810
• Equity at exit: $18,340

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $15,131
• Equity at exit: $10,635

Cash invested: $34,440 (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 24202

• Home prices YoY: -30.0%
• Active inventory: 154
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$645
• Tax from tax record: −$34 /mo · $414/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $238

Break-even live

Break-even rent $925

Max offer price $123,000

Occupancy floor 76%

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1733 Dunlap St Bristol, VA	3.0	1.0	900	$1,250	$1.39	13d	1	0.83mi
135 Kingsolver St Bristol, VA	2.0	1.0	1000	$1,400	$1.40	20d	1	1.33mi
1225 Carriage Cir #203 Bristol, VA	2.0	2.0	968	$1,150	$1.19	13d	1	1.39mi
1740 Bonham Rd Unit 1716-5 Bristol, VA	2.0	1.5	1000	$1,100	$1.10	13d	1	1.48mi
1740 Bonham Rd Unit 1716-2 Bristol, VA	2.0	1.5	1100	$1,200	$1.09	43d	1	1.48mi

Listing history 29 events

1. 2026-06-19
   days on market $123,000 Active 27 DOM
2. 2026-06-18
   days on market $123,000 Active 26 DOM
3. 2026-06-17
   days on market $123,000 Active 25 DOM
4. 2026-06-17
   price $123,000 Active 24 DOM
5. 2026-06-16
   days on market $127,500 Active 24 DOM
6. 2026-06-15
   days on market $127,500 Active 23 DOM
7. 2026-06-14
   days on market $127,500 Active 21 DOM
8. 2026-06-13
   days on market $127,500 Active 20 DOM
9. 2026-06-10
   days on market $127,500 Active 18 DOM
10. 2026-06-09
    days on market $127,500 Active 17 DOM
11. 2026-06-08
    days on market $127,500 Active 16 DOM
12. 2026-06-07
    pricedays on market $127,500 Active 15 DOM
13. 2026-06-03
    days on market $130,000 Active 11 DOM
14. 2026-06-02
    days on market $130,000 Active 10 DOM
15. 2026-06-01
    days on market $130,000 Active 9 DOM
16. 2026-05-31
    days on market $130,000 Active 8 DOM
17. 2026-05-30
    days on market $130,000 Active 7 DOM
18. 2026-05-23
    listed $130,000 Active
19. 2021-06-10
    soldstatus $76,000 356-char remark

    Show marketing remark (356 chars)

    You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

20. 2021-06-10
    soldstatus $76,000 356-char remark

    Show marketing remark (356 chars)

    You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

21. 2021-06-10
    soldstatus $76,000

    Show marketing remark (356 chars)

    You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

22. 2021-05-06
    listed $78,000 356-char remark

    Show marketing remark (356 chars)

    You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

23. 2021-05-05
    listed $78,000 356-char remark

    Show marketing remark (356 chars)

    You don't usually find open concept, huge yard, and a 2-car garage at this price! This cute cottage is just minutes from downtown Bristol and convenient to Exits 5 and 7. Central heat and air, new carpet (with hardwood underneath) and LPV flooring, brand new water heater, and front & back porches make this quite a deal! Schedule your showing today.

24. 2020-06-23
    soldstatus $54,000
25. 2020-06-23
    soldstatus $54,000
26. 2020-06-19
    soldstatus $54,000
27. 2020-05-28
    listed $59,999
28. 2020-05-27
    listed $59,999
29. 2009-07-24
    soldstatus $38,350

ⓘ 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: $414 · $34/mo
• Projected year-2 tax: $1,009 · $84/mo
• Expected delta: +$595/yr (+$50/mo · 143.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,719
• − Mortgage interest: −$6,890
• − Property taxes: −$414
• − Insurance: −$615
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$3,578
• Taxable income: $868
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,651/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: Bristol City Public School District
• NCES district ID: 5100450
• Math proficiency: 57% ▼ -24.00%
• Reading proficiency: 70% ▼ -6.00%
• Median HH income: $33,978
• Composite: 52.4/100
• National rank: #1579
• State rank: #53 of 131 in VA

Livability — Bristol

• Score: 74/100
• State rank: #140
• US rank: #4544

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, VA
• City population: 16,039
• Population (ZIP): 12,324

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 16,113 people
• By 2030: 15,510 · -3.7%
• By 2040: 14,121 · -12.4%
• By 2050: 12,847 · -20.3%
• By 2075: 9,870 · -38.7%
• By 2100: 7,883 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Portuguese 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Bristol

• 2024 margin: Solid R (+39.7) · D 29.8% · R 69.5%
• 2008→2024 swing: -13.6pp toward R · 2008: -26.0pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+38.9 2016: R+43.8 2012: R+31.1 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.07%
• Current HPI: 182.4415
• 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

+239.0% since first listed

12 events — show timeline

• 2026-05-23 Listed $130,000 BRIGHT MLS
• 2021-06-10 Sold (Public Records) $76,000 Public Records
• 2021-06-10 Sold (MLS) $76,000 SWVAR
• 2021-06-10 Sold (MLS) $76,000 TVRMLS
• 2021-05-06 Listed $78,000 SWVAR
• 2021-05-05 Listed $78,000 TVRMLS
• 2020-06-23 Sold (MLS) $54,000 SWVAR
• 2020-06-23 Sold (MLS) $54,000 TVRMLS
• 2020-06-19 Sold (Public Records) $54,000 Public Records
• 2020-05-28 Listed $59,999 SWVAR
• 2020-05-27 Listed $59,999 TVRMLS
• 2009-07-24 Sold (Public Records) $38,350 Public Records