450 Byrd Ln

Rocky Mount, VA 24151

$32,800B

1 bd · 1.0 ba · 652 sqft · Built 1920 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $925/mo
• Mortgage (P&I): −$172
• Tax + insurance: −$31
• HOA: −$0
• Vac / Maint / Mgmt: −$194
• Net cashflow: $527/mo
• Annual: $6,329/yr
• Cap rate: 25.59%
• Cash-on-cash: 68.91%
• DSCR: 4.07
• 1% rule: 2.82%
• Cash to close: $9,184

Investor read

• This is a 1-bed/1.0-bath single-family listed at $33k.
• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $33k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $227 of loan paydown is wiped out by about $984 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#153 in VA, #4,873 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Rocky Mount Elementary (math 67% / reading 52%, grade B-, #536 of 1,108 statewide, top 51%, 290 students, 76% FRL); Benjamin Franklin Middle (math 64% / reading 72%, grade A-, #94 of 342 statewide, top 28%, 1,397 students, 74% FRL); Franklin County High (math 79% / reading 82%, grade A, #57 of 319 statewide, top 18%, 1,904 students, 74% FRL) — zoned schools average 75% FRL vs 45% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 193 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 25.6% vs local median 2.7% in Rocky Mount — 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.
• This rent is only 17% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1920 — 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.
• 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.
• 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.