2003 Jacks Creek Rd

Big Rock, VA 24630

$28,400B

2 bd · 1.0 ba · 672 sqft · Built 1980 · Manufactured · Active · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $812/mo
• Mortgage (P&I): −$149
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $389/mo
• Annual: $4,673/yr
• Cap rate: 25.09%
• Cash-on-cash: 67.15%
• DSCR: 3.99
• 1% rule: 2.86%
• Cash to close: $7,952

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $28k. Condition is rated poor.
• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($812 rent vs $28k).
• It's been on market 198 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (12.0% below list) — sets the bar for market timing.
• In year one you build about $457 of equity ($196 loan paydown + $261 appreciation (0.9% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Buchanan County Public School District (rural): math 52% / reading 65% proficiency, ranked #76 of 131 in VA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 29 active listings in the ZIP; 12 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).
• Buchanan County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage to the roof
• Major: exterior siding — Severe weathering and damage
• Major: foundation — Visible signs of deterioration
• Major: windows — Poor condition, likely leaking