26 Allen Dr

Farmville, VA 23901

$85,000B+

3 bd · 2.0 ba · 1,050 sqft · Built 1978 · SingleFamily · Active · 129 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,467/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$308
• Net cashflow: $571/mo
• Annual: $6,855/yr
• Cap rate: 14.36%
• Cash-on-cash: 28.80%
• DSCR: 2.28
• 1% rule: 1.73%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 129 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#79 in VA, #2,622 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Cumberland County Public School District (rural): math 33% / reading 56% proficiency, ranked #113 of 131 in VA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cumberland Elementary (math 47% / reading 52%, grade D, #742 of 1,108 statewide, top 70%, 541 students, 99% FRL); Cumberland Middle (math 29% / reading 54%, grade F, #299 of 342 statewide, top 88%, 352 students, 100% FRL); Cumberland High (math 17% / reading 77%, grade D-, #305 of 319 statewide, top 97%, 390 students, 99% FRL) — zoned schools average 99% FRL vs 61% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 80 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).
• Cumberland County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $85k implies a 143% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% vs local median 2.8% in Farmville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.