162 Hazelnut Ln

Rural Retreat, VA 24368

$199,500D+

3 bd · 2.0 ba · 1,768 sqft · Built 2000 · Manufactured · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,498/mo
• Mortgage (P&I): −$1,046
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-195/mo
• Annual: $-2,339/yr
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $55,860

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $200k.
• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (24.9% below list).
• It's been on market 49 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (24.9% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $132 appreciation (0.1% local appreciation)).
• Location reads 75/100 on livability (#134 in VA, #4,304 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Rural Retreat Elementary (math 72% / reading 82%, grade A, #171 of 1,108 statewide, top 17%, 362 students, 75% FRL); Rural Retreat Middle (math 73% / reading 80%, grade A, #40 of 342 statewide, top 12%, 231 students, 75% FRL); Rural Retreat High (math 67% / reading 87%, grade A-, #90 of 319 statewide, top 30%, 312 students, 74% FRL) — zoned schools average 75% FRL vs 41% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 2y 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 $170k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk — 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 49 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• 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.