7019 Oakville Rd

Appomattox, VA 24522

$72,000B+

3 bd · 2.0 ba · 1,512 sqft · Built 1998 · Manufactured · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$378
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $559/mo
• Annual: $6,708/yr
• Cap rate: 15.61%
• Cash-on-cash: 33.27%
• DSCR: 2.48
• 1% rule: 1.77%
• Cash to close: $20,160

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $72k.
• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($498 loan paydown + $5k appreciation (6.6% local appreciation)).
• Location reads 77/100 on livability (#98 in VA, #3,144 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Appomattox County Public School District (rural): math 53% / reading 69% proficiency, ranked #56 of 131 in VA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Appomattox Elementary (math 50% / reading 65%, grade C+, #588 of 1,108 statewide, top 54%, 531 students, 74% FRL); Appomattox Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 539 students, 74% FRL); Appomattox County High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 699 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Appomattox County in 2024 (0 in 5+ unit buildings).
• Appomattox County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.6% vs local median 2.6% in Appomattox — 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

• 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.