1140 Mineral Springs Dr

Vinton, VA 24179

$265,000F

3 bd · 0.5 ba · 1,188 sqft · Built 1975 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,496/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $-375/mo
• Annual: $-4,505/yr
• Cap rate: 4.59%
• Cash-on-cash: -6.07%
• DSCR: 0.73
• 1% rule: 0.56%
• Cash to close: $74,200

Investor read

• This is a 3-bed/0.5-bath single-family listed at $265k.
• At list price, monthly cash flow is $-375 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (43.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $150k (43.5% 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 $8k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#61 in VA, #1,742 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stewartsville Elementary (math 57% / reading 72%, grade B, #416 of 1,108 statewide, top 41%, 330 students, 87% FRL); Staunton River Middle (math 45% / reading 65%, grade B-, #189 of 342 statewide, top 56%, 627 students, 86% FRL); Staunton River High (math 39% / reading 66%, grade C-, #293 of 319 statewide, top 92%, 889 students, 69% FRL) — zoned schools average 81% FRL vs 30% district-wide (50 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 158 active listings in the ZIP; 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $150k; list at $265k implies a 77% gain — meaningful room to come down on a strong offer.

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?
• Built in 1975 — 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.
• 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?
• 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.