10 Whiting Ave

Boyce, VA 22620

$300,000C

3 bd · 2.5 ba · 1,296 sqft · Built 2000 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,450/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$514
• Net cashflow: $125/mo
• Annual: $1,499/yr
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• 1% rule: 0.82%
• Cash to close: $84,000

Investor read

• This is a 3-bed/2.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $125 ($1k/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 $245k (18.3% below list).
• It's been on market 47 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $245k (18.3% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#300 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living D+, amenities F, commute F.
• Clarke County Public School District (rural): math 52% / reading 69% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Boyce Elementary (math 47% / reading 62%, grade C, #650 of 1,108 statewide, top 62%, 311 students, 38% FRL); Johnson-Williams Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 425 students, 29% FRL); Clarke County High (math 67% / reading 87%, grade A-, #90 of 319 statewide, top 30%, 693 students, 27% FRL).
• Market conditions: 20 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15 units permitted in Clarke County in 2024 (0 in 5+ unit buildings).
• Clarke County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 9 sale attempts since 22y ago; this cycle's ask has dropped $50k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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 47 days. Have you received any prior offers? Is the seller open to a 18% 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 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.