148 Doe Hill Rd

McDowell, VA 24458

$189,900D

3 bd · 1.0 ba · 1,220 sqft · Built 1950 · SingleFamily · Active · 630 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,112/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $-261/mo
• Annual: $-3,132/yr
• Cap rate: 4.64%
• Cash-on-cash: -5.89%
• DSCR: 0.74
• 1% rule: 0.59%
• Cash to close: $53,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (41.5% below list).
• It's been on market 630 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (41.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Highland County Public School District (rural): math 85% / reading 90% proficiency, ranked #19 of 134 in VA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Highland Elementary (math 54% / reading 74%, grade B, #416 of 1,108 statewide, top 41%, 97 students, 44% FRL); Highland High (math 64% / reading 95%, grade A, #62 of 319 statewide, top 19%, 103 students, 30% FRL).
• Zoned-school proficiency averages 72% at this address vs 88% district-wide (-15 pts) — the specific schools serving this property underperform the Highland County Public School District average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 12 units permitted in Highland County in 2024 (0 in 5+ unit buildings).
• Highland County population projected at -44% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $190k implies a 216% gain — meaningful room to come down on a strong offer.

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 630 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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.
• 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.