152 Edgemont Cir

Lake of the Woods, VA 22508

$329,000C

3 bd · 3.0 ba · 2,262 sqft · Built 1973 · SingleFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,136/mo
• Mortgage (P&I): −$1,725
• Tax + insurance: −$264
• HOA: −$217
• Vac / Maint / Mgmt: −$659
• Net cashflow: $271/mo
• Annual: $3,256/yr
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• 1% rule: 0.95%
• Cash to close: $92,120

Investor read

• This is a 3-bed/3.0-bath single-family listed at $329k.
• At list price, monthly cash flow is $271 ($3k/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 $314k (4.7% below list).
• It's been on market 65 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $309k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#341 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, schools D+, amenities F.
• Orange County Public School District (rural): math 47% / reading 64% proficiency, ranked #71 of 131 in VA (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 196 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 412 units permitted in Orange County in 2024 (0 in 5+ unit buildings).
• Orange County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $329k implies a 339% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.3% vs local median 4.3% in Lake of the Woods — 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.
• This rent runs 34% of the median local income ($111k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.