379 A P Carter Hwy

Hiltons, VA 24258

$119,000C

3 bd · 1.0 ba · 957 sqft · Built 1943 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $965/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $53/mo
• Annual: $639/yr
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• 1% rule: 0.81%
• Cash to close: $33,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $53 ($639/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 $97k (18.9% below list).
• It's been on market 55 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (18.9% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($823 loan paydown + $1k appreciation (1.2% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Scott County Public School District (rural): math 66% / reading 73% proficiency, ranked #33 of 131 in VA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hilton Elementary (math 82% / reading 87%, grade A+, #71 of 1,108 statewide, top 8%, 130 students, 81% FRL); Gate City Middle (math 74% / reading 71%, grade A, #61 of 342 statewide, top 18%, 333 students, 78% FRL); Gate City High (math 77% / reading 82%, grade A-, #63 of 319 statewide, top 22%, 619 students, 77% FRL) — zoned schools average 79% FRL vs 48% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 22 units permitted in Scott County in 2024 (0 in 5+ unit buildings).
• Scott County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $19k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $119k implies a 297% gain — meaningful room to come down on a strong offer.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1943 — 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.
• 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.