211 Dinwiddie Ave

Blackstone, VA 23824

$80,000B-

5 bd · 1.0 ba · 1,563 sqft · Built 1920 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $1,047/mo
• Annual: $12,562/yr
• Cap rate: 22.00%
• Cash-on-cash: 56.08%
• DSCR: 3.50
• 1% rule: 2.44%
• Cash to close: $22,400

Investor read

• This is a 5-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#210 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Nottoway County Public School District (rural): math 34% / reading 59% proficiency, ranked #109 of 131 in VA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 57 units permitted in Nottoway County in 2024 (5 in 5+ unit buildings).
• Nottoway County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 22.0% vs local median 4.0% in Blackstone — 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.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.