192 Blevins Rd

Narrows, VA 24124

$60,000B+

2 bd · 1.0 ba · 1,087 sqft · Built 1940 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $975/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $336/mo
• Annual: $4,032/yr
• Cap rate: 14.34%
• Cash-on-cash: 28.75%
• DSCR: 2.28
• 1% rule: 1.63%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $60k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($415 loan paydown + $4k appreciation (6.0% local appreciation)).
• Location reads 72/100 on livability (#204 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Giles County Public School District (rural): math 56% / reading 68% proficiency, ranked #54 of 131 in VA (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Narrows Elementary/Middle (math 60% / reading 66%, grade B, #470 of 1,108 statewide, top 43%, 859 students, 39% FRL); Narrows High (math 57% / reading 72%, grade B-, #213 of 319 statewide, top 69%, 411 students, 35% FRL) — zoned schools at 37% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 25 units permitted in Giles County in 2024 (0 in 5+ unit buildings).
• Giles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $38k; list at $60k implies a 58% gain — meaningful room to come down on a strong offer.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.