1005 Glendale Rd · Galax, VA 24333

$99,500

2 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 62 Days on market

Built 1934 0.71 ac lot $65/sqft · 46% below area

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This large and affordable 3 bedroom 1.5 bath home sits in a convenient Galax location on a nice open 0.7 +/- acre lot! Main level features include a large living room with a fireplace, formal dining room, a large kitchen, two bedrooms, a laundry area, a large den, and a full bathroom! Upstairs you'll find a finished attic which could be a third bedroom with a half bathroom and a closet! Other features include a newer roof, covered front porch, brick foundation, paved driveway, side porch, public utilities, and a convenient location just seconds to major Galax shopping and dining amenities! Don't miss this affordable home with room for improvements to make it your own!

Key facts

• Covered front porch
• Formal dining room
• Finished attic

Tags

• LARGE LIVING ROOM
• FIREPLACE
• FORMAL DINING ROOM
• FINISHED ATTIC
• NEWER ROOF
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.7% in Galax — 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 66/100 on livability (#327 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Galax City Public School District (town): math 54% / reading 68% proficiency, ranked #64 of 131 in VA (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 117 active listings in the ZIP; 16 units permitted in Galax city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Galax County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.94%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

• ARV (median comp): $241,178
• List price: $99,500
• Delta: -58.74%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3066 Creekview Dr	0.63mi	3/2.5 (+1)	1,528 (-1%)	11mo	$301,000	$197	49

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-2,917
• Equity at exit: $14,836

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $14,413
• Equity at exit: $8,603

Cash invested: $27,860 (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 24333

• Home prices YoY: -29.1%
• Active inventory: 117
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $208

Break-even live

Break-even rent $798

Max offer price $99,500

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $99,500 Active 62 DOM
2. 2026-06-17
   days on market $99,500 Active 61 DOM
3. 2026-06-16
   days on market $99,500 Active 60 DOM
4. 2026-06-15
   days on market $99,500 Active 59 DOM
5. 2026-06-15
   days on market $99,500 Active 58 DOM
6. 2026-06-13
   days on market $99,500 Active 57 DOM
7. 2026-06-12
   days on market $99,500 Active 56 DOM
8. 2026-06-09
   days on market $99,500 Active 53 DOM
9. 2026-06-08
   days on market $99,500 Active 52 DOM
10. 2026-06-08
    days on market $99,500 Active 51 DOM
11. 2026-06-07
    days on market $99,500 Active 50 DOM
12. 2026-06-03
    days on market $99,500 Active 47 DOM
13. 2026-06-02
    days on market $99,500 Active 46 DOM
14. 2026-06-01
    days on market $99,500 Active 45 DOM
15. 2026-05-31
    days on market $99,500 Active 44 DOM
16. 2026-04-17
    listed $99,500 Active 676-char remark

    Show marketing remark (676 chars)

    This large and affordable 3 bedroom 1.5 bath home sits in a convenient Galax location on a nice open 0.7 +/- acre lot! Main level features include a large living room with a fireplace, formal dining room, a large kitchen, two bedrooms, a laundry area, a large den, and a full bathroom! Upstairs you'll find a finished attic which could be a third bedroom with a half bathroom and a closet! Other features include a newer roof, covered front porch, brick foundation, paved driveway, side porch, public utilities, and a convenient location just seconds to major Galax shopping and dining amenities! Don't miss this affordable home with room for improvements to make it your own!

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$12/yr (+$1/mo · 1.5%)

ⓘ 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 ≥92°F today · 20 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: $12,728
• − Mortgage interest: −$5,574
• − Property taxes: −$804
• − Insurance: −$498
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$2,895
• Taxable income: $922
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $2,271/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: Galax City Public School District
• NCES district ID: 5101560
• Math proficiency: 54% ▼ -34.00%
• Reading proficiency: 68% ▼ -10.00%
• Median HH income: $29,679
• Composite: 49.91/100
• National rank: #1941
• State rank: #64 of 131 in VA

Livability — Galax

• Score: 66/100
• State rank: #327
• US rank: #12370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galax, VA
• Population (ZIP): 17,841

Population outlook (Galax County) Hauer SSP2

• Today (2025): 6,548 people
• By 2030: 6,418 · -2.0%
• By 2040: 6,110 · -6.7%
• By 2050: 5,785 · -11.7%
• By 2075: 5,168 · -21.1%
• By 2100: 4,347 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Serbian 2% Slovak 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Galax

• 2024 margin: Solid R (+43.9) · D 27.7% · R 71.6%
• 2008→2024 swing: -32.9pp toward R · 2008: -11.0pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+40.2 2016: R+39.1 2012: R+19.0 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.21%
• Current HPI: 168.5375
• 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

• 2026-04-17 Listed $99,500 SWVAR

Property tax history

+5.3%/yr

Latest (2026): $804 · +0.0% YoY. Source: county tax records.