1114 Skipwith Rd

Boydton, VA 23917

$189,000D

3 bd · 2.0 ba · 1,094 sqft · Built 1971 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,068/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$315
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $-462/mo
• Annual: $-5,549/yr
• Cap rate: 3.36%
• Cash-on-cash: -10.49%
• DSCR: 0.53
• 1% rule: 0.57%
• Cash to close: $52,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $189k.
• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (35.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (43.5% below list).
• It's been on market 35 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (43.5% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.7% local appreciation)).
• Location reads 68/100 on livability (#266 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 52 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y 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.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
• Built in 1971 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.