18420 Eden Ln

Abingdon, VA 24211

$275,000D-

3 bd · 2.0 ba · 972 sqft · Built 1970 · SingleFamily · Active · 188 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,306/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $-588/mo
• Annual: $-7,058/yr
• Cap rate: 3.73%
• Cash-on-cash: -9.17%
• DSCR: 0.59
• 1% rule: 0.47%
• Cash to close: $77,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $-588 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (37.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (52.5% below list).
• It's been on market 188 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (52.5% below list) — sets the bar for 1% rule.
• 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 80/100 on livability (#59 in VA, #1,691 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, commute 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: Watauga Elementary (math 76% / reading 83%, grade A, #141 of 1,108 statewide, top 14%, 557 students, 66% FRL); E.B. Stanley Middle (math 68% / reading 82%, grade A, #49 of 342 statewide, top 14%, 643 students, 66% FRL); Abingdon High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 867 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: 96 active listings in the ZIP; 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.
• 3 sale attempts; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $225k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk — 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 188 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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?
• 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.