7421 Adkins Rd

Charles City, VA 23030

$210,000D+

4 bd · 1.5 ba · 1,200 sqft · Built 1983 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,711/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $89/mo
• Annual: $1,064/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• 1% rule: 0.81%
• Cash to close: $58,800

Investor read

• This is a 4-bed/1.5-bath single-family listed at $210k.
• At list price, monthly cash flow is $89 ($1k/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 $171k (18.5% below list).
• It's been on market 108 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $171k (18.5% 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 $6k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#465 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: amenities F, commute F, health & safety F.
• Charles City County Public School District (rural): math 24% / reading 56% proficiency, ranked #120 of 131 in VA (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charles City County Elementary (math 22% / reading 47%, grade F, #966 of 1,108 statewide, top 89%, 315 students, 88% FRL); Charles City County High (math 22% / reading 72%, grade D-, #305 of 319 statewide, top 97%, 247 students, 87% FRL) — zoned schools average 87% FRL vs 52% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 30 units permitted in Charles City County in 2024 (0 in 5+ unit buildings).
• Charles City County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; moderate wildfire risk; 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

• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• 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.
• 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.