3264 Jackson St

Exmore, VA 23350

$155,000D

2 bd · 1.0 ba · 849 sqft · Built 1945 · SingleFamily · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,200/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$119
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $16/mo
• Annual: $193/yr
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• 1% rule: 0.77%
• Cash to close: $43,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $16 ($193/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 $120k (22.6% below list).
• It's been on market 199 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (22.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#364 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: amenities F, commute F, employment F.
• Northampton County Public School District (rural): math 36% / reading 62% proficiency, ranked #103 of 131 in VA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Occohannock Elementary (math 32% / reading 57%, grade F, #827 of 1,108 statewide, top 77%, 369 students, 101% FRL); Northampton Middle (math 37% / reading 67%, grade C+, #218 of 342 statewide, top 65%, 206 students, 99% FRL); Northampton High (math 47% / reading 77%, grade B-, #231 of 319 statewide, top 75%, 433 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 164 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).
• Northampton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $12k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $155k implies a 269% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 199 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.