355 Clan Alpine Way

Glasgow, VA 24555

$199,900B-

3 bd · 2.0 ba · 1,782 sqft · Built 1998 · Manufactured · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,965/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $341/mo
• Annual: $4,086/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• 1% rule: 0.98%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $200k.
• At list price, monthly cash flow is $341 ($4k/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 $196k (1.7% below list).
• It's been on market 69 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (1.9% local appreciation)).
• Location reads 59/100 on livability (#471 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Rockbridge County Public School District (town): math 43% / reading 67% proficiency, ranked #80 of 131 in VA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 85 units permitted in Rockbridge County in 2024 (0 in 5+ unit buildings).
• Rockbridge County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $80k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $200k implies a 245% gain — meaningful room to come down on a strong offer.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 6→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 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.