326 Green Acres Dr

Gasburg, VA 27832

$102,000B

4 bd · 3.5 ba · 2,052 sqft · Built 1998 · Manufactured · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,319/mo
• Mortgage (P&I): −$535
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $374/mo
• Annual: $4,490/yr
• Cap rate: 10.69%
• Cash-on-cash: 15.72%
• DSCR: 1.70
• 1% rule: 1.29%
• Cash to close: $28,560

Investor read

• This is a 4-bed/3.5-bath manufactured listed at $102k.
• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• It's been on market 42 days — a 3% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($705 loan paydown + $7k appreciation (7.2% local appreciation)).
• Location reads 64/100 on livability (#345 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, crime A-; Watch: housing C-, amenities F, commute F.
• Northampton County Schools (rural): math 15% / reading 18% proficiency, ranked #176 of 178 in NC (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northampton County High School (math 2% / reading 17%, grade F, #530 of 535 statewide, top 99%, 240 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).
• Northampton County population projected at -40% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.7% vs local median 1.1% in Gasburg — 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 42 days. Have you received any prior offers? Is the seller open to a 3% 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 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.