586 Eldon Yates Dr

Stanley, VA 22851

$229,900B

2 bd · 1.0 ba · 1,104 sqft · Built 1958 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,455/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$516
• Net cashflow: $588/mo
• Annual: $7,051/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• 1% rule: 1.07%
• Cash to close: $64,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $230k.
• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• It's been on market 24 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#257 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Page County Public School District (rural): math 42% / reading 62% proficiency, ranked #96 of 131 in VA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stanley Elementary (math 37% / reading 47%, grade F, #866 of 1,108 statewide, top 80%, 361 students, 87% FRL); Page County Middle (math 36% / reading 60%, grade C-, #247 of 342 statewide, top 74%, 352 students, 70% FRL); Page County High (math 67% / reading 67%, grade B, #185 of 319 statewide, top 61%, 495 students, 70% FRL) — zoned schools average 75% FRL vs 45% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 164 units permitted in Page County in 2024 (0 in 5+ unit buildings).
• Page County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $125k; list at $230k implies a 84% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.