276 Main St

Stanardsville, VA 22973

$267,000C+

3 bd · 1.0 ba · 1,608 sqft · Built 1900 · SingleFamily · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,695/mo
• Mortgage (P&I): −$1,400
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$566
• Net cashflow: $438/mo
• Annual: $5,254/yr
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• 1% rule: 1.01%
• Cash to close: $74,760

Investor read

• This is a 3-bed/1.0-bath single-family listed at $267k.
• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $267k).
• It's been on market 181 days — a 12% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#243 in VA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, schools A-, cost of living A-; Watch: employment D+, amenities F, commute F.
• Greene County Public School District (town): math 40% / reading 64% proficiency, ranked #88 of 131 in VA (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 204 units permitted in Greene County in 2024 (34 in 5+ unit buildings).
• Greene County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.6% vs local median 4.8% in Stanardsville — 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 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.