100 Harrison St

Gretna, VA 24557

$80,000B

3 bd · 1.0 ba · 828 sqft · Built 1993 · SingleFamily · Active · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $983/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $278/mo
• Annual: $3,338/yr
• Cap rate: 10.47%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• 1% rule: 1.23%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $80k).
• It's been on market 119 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($553 loan paydown + $2k appreciation (1.9% local appreciation)).
• Location reads 74/100 on livability (#157 in VA, #4,927 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pittsylvania County Public School District (rural): math 65% / reading 78% proficiency, ranked #22 of 131 in VA (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Gretna Elementary (math 72% / reading 80%, grade A, #202 of 1,108 statewide, top 19%, 460 students, 83% FRL); Gretna Middle (math 47% / reading 72%, grade B, #160 of 342 statewide, top 48%, 397 students, 81% FRL); Gretna High (math 57% / reading 67%, grade B-, #231 of 319 statewide, top 75%, 535 students, 80% FRL) — zoned schools average 81% FRL vs 47% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 107 active listings in the ZIP; lower-income renter base — watch delinquency; 72 units permitted in Pittsylvania County in 2024 (0 in 5+ unit buildings).
• Pittsylvania County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.5% vs local median 3.8% in Gretna — 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 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear, peeling paint, and missing panels.
• Major: exterior paint — Chipped and uneven paint, especially around the roofline.
• Major: landscaping — Overgrown vegetation and unkempt appearance.
• Major: kitchen cabinets — Older cabinets with visible wear and tear.
• Major: bathroom fixtures — Old-style fixtures and dated design.