716 Mcculloch St

Glasgow, VA 24555

$89,000B-

2 bd · 1.0 ba · 768 sqft · Built 1984 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,764/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$370
• Net cashflow: $861/mo
• Annual: $10,334/yr
• Cap rate: 17.90%
• Cash-on-cash: 41.47%
• DSCR: 2.85
• 1% rule: 1.98%
• Cash to close: $24,920

Investor read

• This is a 2-bed/1.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($615 loan paydown + $2k appreciation (1.9% local appreciation)).
• Location reads 59/100 on livability (#471 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Rockbridge County Public School District (town): math 43% / reading 67% proficiency, ranked #80 of 131 in VA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Natural Bridge Elementary (math 52% / reading 57%, grade C, #650 of 1,108 statewide, top 62%, 221 students, 68% FRL); Maury River Middle (math 38% / reading 63%, grade C, #226 of 342 statewide, top 67%, 502 students, 70% FRL); Rockbridge County High (math 52% / reading 82%, grade B, #185 of 319 statewide, top 61%, 994 students, 66% FRL) — zoned schools average 68% FRL vs 37% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP; 85 units permitted in Rockbridge County in 2024 (0 in 5+ unit buildings).
• Rockbridge County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.