2125 Carrsville Hwy

Camptown, VA 23851

$145,000D

3 bd · 1.0 ba · 636 sqft · Built 1945 · SingleFamily · Under Contract · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $144/mo
• Annual: $1,725/yr
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• 1% rule: 0.90%
• Cash to close: $40,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (9.8% below list).
• It's been on market 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (9.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#478 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Isle Of Wight County Public School District (rural): math 62% / reading 73% proficiency, ranked #28 of 131 in VA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carrsville Elementary (math 72% / reading 77%, grade A, #220 of 1,108 statewide, top 22%, 252 students, 48% FRL); Windsor High (math 62% / reading 82%, grade B+, #134 of 319 statewide, top 45%, 527 students, 39% FRL).
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 137 active listings in the ZIP; 257 units permitted in Isle of Wight County in 2024 (0 in 5+ unit buildings).
• Isle of Wight County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 16y 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 $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 71% 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.

Questions for listing agent

• Built in 1945 — 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.
• 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.