13431 Stone Dr

Bristol, VA 24202

$129,900B

3 bd · 2.5 ba · 2,193 sqft · Built 1978 · SingleFamily · Active · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,341/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$492
• Net cashflow: $1,017/mo
• Annual: $12,200/yr
• Cap rate: 15.68%
• Cash-on-cash: 33.54%
• DSCR: 2.49
• 1% rule: 1.80%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.5-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 119 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#140 in VA, #4,544 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment F.
• Washington County Public School District (rural): math 68% / reading 79% proficiency, ranked #15 of 131 in VA (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: High Point Elementary (math 76% / reading 76%, grade A, #202 of 1,108 statewide, top 19%, 596 students, 66% FRL); Wallace Middle (math 74% / reading 80%, grade A, #38 of 342 statewide, top 11%, 426 students, 65% FRL); John S. Battle High (math 67% / reading 82%, grade B+, #107 of 319 statewide, top 37%, 659 students, 65% FRL) — zoned schools average 66% FRL vs 42% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 237 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 99 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.7% vs local median 4.7% in Bristol — 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.
• At $2,341/mo this rent would consume 48% of the median local household income ($58k/yr) — very limited rent-growth headroom before tenants either downsize or default.

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?
• Built in 1978 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible damage and potential leaks.
• Moderate: exterior siding — The siding is in fair condition, with some discoloration and wear. The paint appears to be peeling in places.
• Minor: interior walls — The interior walls appear to be in average condition, with some discoloration and minor damage visible.
• Minor: landscaping — The landscaping is fair, with some overgrown areas and a lack of maintenance.