1200 Ruritan Rd

Rocky Mount, VA 24151

$129,777C+

3 bd · 2.0 ba · 1,296 sqft · Built 2005 · Manufactured · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,434/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $335/mo
• Annual: $4,023/yr
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• 1% rule: 1.11%
• Cash to close: $36,338

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $897 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#153 in VA, #4,873 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: amenities F, commute F, employment F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 193 active listings in the ZIP; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 2.7% in Rocky Mount — 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 49 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.