80 Green Meadow Ln

Rocky Mount, VA 24151

$121,900B+

3 bd · 1.0 ba · 1,296 sqft · Built 1976 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,521/mo
• Mortgage (P&I): −$639
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $450/mo
• Annual: $5,400/yr
• Cap rate: 10.72%
• Cash-on-cash: 15.82%
• DSCR: 1.70
• 1% rule: 1.25%
• Cash to close: $34,132

Investor read

• This is a 3-bed/1.0-bath single-family listed at $122k.
• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• It's been on market 83 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#153 in VA, #4,873 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Rocky Mount Elementary (math 67% / reading 52%, grade B-, #536 of 1,108 statewide, top 51%, 290 students, 76% FRL); Benjamin Franklin Middle (math 64% / reading 72%, grade A-, #94 of 342 statewide, top 28%, 1,397 students, 74% FRL); Franklin County High (math 79% / reading 82%, grade A, #57 of 319 statewide, top 18%, 1,904 students, 74% FRL) — zoned schools average 75% FRL vs 45% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $65k; list at $122k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.7% vs local median 2.5% in Rocky Mount — 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

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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 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.