323 Oldfield Dr

Charlottesville, VA 22902

$320,840D

4 bd · 3.5 ba · 1,800 sqft · Built 2026 · Townhouse · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,686/mo
• Mortgage (P&I): −$1,683
• Tax + insurance: −$535
• HOA: −$0
• Vac / Maint / Mgmt: −$564
• Net cashflow: $-96/mo
• Annual: $-1,148/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• 1% rule: 0.84%
• Cash to close: $89,835

Investor read

• This is a 4-bed/3.5-bath townhouse listed at $321k. Condition is rated good.
• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (16.3% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $269k (16.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#27 in VA, #707 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Fluvanna County Public School District (rural): math 61% / reading 71% proficiency, ranked #34 of 131 in VA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary (715 students, 52% FRL); Fluvanna Middle (math 65% / reading 70%, grade A-, #98 of 342 statewide, top 30%, 763 students, 42% FRL); Fluvanna County High (math 60% / reading 76%, grade B, #180 of 319 statewide, top 57%, 1,488 students, 37% FRL) — zoned schools average 44% FRL vs 23% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 278 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 138 units permitted in Fluvanna County in 2024 (6 in 5+ unit buildings).
• Cap rate 5.9% vs local median 2.9% in Charlottesville — 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.
• This rent runs 34% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.