3 beds 2 baths 1,200 sqft
Investor Special!! Endless Potential with Strong ROI Upside in Big Stone Gap
If you’ve been searching for a high-potential real estate investment that offers flexibility, affordability, and multiple exit strategies, this property in Big Stone Gap deserves your full attention. Whether your goal is to generate consistent rental income, complete a profitable fix-and-flip project, or expand your investment portfolio with a low entry price point, this opportunity checks all the right boxes.
Recently vacated by tenants, this property is ready for its next chapter. With a little TLC (tender loving care), it can quickly be transformed into a desirable rental unit or a refreshed home ready for resale. Investor-friendly properties like this—especially those priced significantly below market value per square foot—are becoming increasingly rare in today’s competitive real estate landscape.
Situated on approximately 0.3 acres of level land, this manufactured home offers 1,200 square feet of interior living space, featuring 3 bedrooms and 2 full bathrooms. The layout is practical and functional, making it appealing for families, long-term tenants, or even short-term rental opportunities depending on your strategy.
One of the standout features of this listing is the additional opportunity next door: a separate property sitting on approximately 1.6 acres is also available for purchase. This opens the door for investors to bundle properties, expand their footprint, or explore creative development opportunities. Whether you’re thinking about building additional units, creating a multi-property rental portfolio, or simply securing more land for future appreciation, the adjacent parcel adds significant value potential.
Interior Features and Layout
Inside the home, you’ll find a straightforward floor plan that maximizes the available 1,200 square feet. The living area flows into the kitchen and dining space, creating a functional environment that can be easily updated with modern finishes. With three bedrooms, the property offers flexibility for different tenant types, including families or shared living arrangements.
The two full bathrooms are a major plus, increasing rental appeal and convenience. While the home is currently in average to fixer condition, many of the updates needed are cosmetic—making it an ideal project for investors who want to add value without taking on a full-scale renovation.
Heating is electric, and cooling is provided through window units. While some investors may choose to upgrade these systems for increased efficiency and tenant appeal, the existing setup allows for immediate usability and keeps upfront costs manageable.
Exterior and Construction Details
The home features durable vinyl siding and a metal roof—both practical choices for longevity and low maintenance. These materials are particularly attractive to investors looking to minimize ongoing repair costs while maintaining a solid structure.
The lot itself is level, making it easy to maintain and suitable for a variety of outdoor uses. Whether you envision adding a small garden, outdoor seating area, or simply keeping the space low-maintenance for tenants, the property offers flexibility.
With public water and sewer already in place, you avoid the added complexities and costs associated with private systems—another investor-friendly advantage.
Location Advantages
Located in the Big Stone Gap region, this property benefits from a quiet setting while still offering access to essential amenities. The area has seen steady interest from renters and buyers alike due to its affordability and small-town charm.
Properties in this region often attract tenants looking for budget-friendly housing options, making it easier to maintain occupancy. Additionally, the low property taxes—approximately $268 annually—help maximize your net returns, especially when compared to higher-tax markets.
Investment Potential
At approximately $29 per square foot, this property is priced well below replacement cost, offering immediate equity potential. This is exactly the kind of deal seasoned investors look for—where value can be added through strategic improvements.
Here are a few possible investment strategies:
1. Fix and Flip: With targeted updates such as fresh paint, flooring, updated fixtures, and minor exterior improvements, you can significantly increase the property’s resale value. The relatively small size makes renovation costs more manageable while still allowing for a strong profit margin.
2. Buy and Hold Rental: With three bedrooms and two bathrooms, the property is well-suited for long-term tenants. After light renovations, it can generate steady monthly income with a strong cash-on-cash return, especially given the low acquisition cost and minimal property taxes.
3. Portfolio Expansion: If you purchase the adjacent 1.6-acre property as well, you can create a small portfolio in one location. This allows for easier management and the potential for increased long-term appreciation.
4. Hybrid Strategy: Rent the property initially to generate income while planning a future resale when market conditions are optimal.
Condition and Value-Add Opportunities
The home is currently classified as being in average to fixer condition. This means it is not a full teardown but rather a value-add opportunity where improvements can directly translate into increased equity.
Common upgrades that could significantly boost value include:
* Interior repainting
* Flooring replacement or refinishing
* Kitchen and bathroom updates
* Improved lighting and fixtures
* Landscaping and curb appeal enhancements
Because the structure is already in place and utilities are connected, you can focus your budget on upgrades that directly impact market value and tenant appeal.
Financial Highlights
* Price per square foot: $29
* Tax assessed value: $38,800
* Annual property tax: $268
* Flexible purchase options: Cash or conventional financing
These numbers make the property especially attractive for investors looking to enter the market at a low cost while maintaining strong upside potential.
Why This Property Stands Out
In today’s market, finding a property that combines affordability, flexibility, and upside potential is no easy task. This listing stands out because it offers:
* Immediate availability (tenant has moved out)
* Multiple investment strategies
* Low holding costs
* Expandability with adjacent land purchase
* Manageable renovation scope
* Strong rental appeal due to layout and location
Whether you’re a first-time investor or an experienced buyer looking for your next project, this property provides a rare chance to secure a deal with built-in potential.
Final Thoughts
Opportunities like this don’t last long—especially when they offer both short-term profit potential and long-term income possibilities. With a modest investment in updates, this property can be transformed into a valuable asset that works for you.
If you’re serious about building wealth through real estate, this is exactly the type of property you should be targeting: affordable, versatile, and full of potential.
Act quickly to secure this investment opportunity and explore the added value of the neighboring 1.6-acre property while it’s still available.
Listd on Zillow
