1403 11th St

Victoria, VA 23974

$134,000C-

3 bd · 1.0 ba · 1,596 sqft · Built 1915 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$703
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $60/mo
• Annual: $723/yr
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• 1% rule: 0.80%
• Cash to close: $37,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $134k.
• At list price, monthly cash flow is $60 ($723/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 $107k (20.4% below list).
• It's been on market 86 days — a 6% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (20.4% below list) — sets the bar for 1% rule.
• In year one you build about $49 of equity ($926 loan paydown + $-877 appreciation (-0.7% local appreciation)).
• Location reads 70/100 on livability (#235 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Lunenburg County Public School District (rural): math 33% / reading 60% proficiency, ranked #110 of 131 in VA (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 26 active listings in the ZIP; 25 units permitted in Lunenburg County in 2024 (0 in 5+ unit buildings).
• Lunenburg County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate wind risk, 20% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1915 — 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.
• Schools are B-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.