1232 Boston Rd N

Lake Monticello, VA 22974

$498,113D-

4 bd · 2.5 ba · 2,227 sqft · Built 2026 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,075/mo
• Mortgage (P&I): −$2,612
• Tax + insurance: −$830
• HOA: −$0
• Vac / Maint / Mgmt: −$646
• Net cashflow: $-1,013/mo
• Annual: $-12,156/yr
• Cap rate: 3.85%
• Cash-on-cash: -8.72%
• DSCR: 0.61
• 1% rule: 0.62%
• Cash to close: $139,472

Investor read

• This is a 4-bed/2.5-bath single-family listed at $498k.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (38.3% below list).
• It's been on market 53 days — a 3% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $308k (38.3% below list) — sets the bar for 1% rule.
• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#284 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Fluvanna County Public School District (rural): math 61% / reading 71% proficiency, ranked #34 of 131 in VA (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary (715 students, 52% FRL); Fluvanna Middle (math 65% / reading 70%, grade A-, #98 of 342 statewide, top 30%, 763 students, 42% FRL); Fluvanna County High (math 60% / reading 76%, grade B, #180 of 319 statewide, top 57%, 1,488 students, 37% FRL) — zoned schools average 44% FRL vs 23% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 138 units permitted in Fluvanna County in 2024 (6 in 5+ unit buildings).
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 38% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.