219 Lossing Ave

Colonial Beach, VA 22443

$275,000D+

2 bd · 2.0 ba · 1,376 sqft · Built 1977 · SingleFamily · Active Under Contract · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,047/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$169
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $6/mo
• Annual: $75/yr
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• 1% rule: 0.74%
• Cash to close: $77,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $6 ($75/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (25.6% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $205k (25.6% 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 59/100 on livability (#460 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime B, cost of living B; Watch: amenities F, commute F, health & safety F.
• Colonial Beach Public School District (town): math 42% / reading 68% proficiency, ranked #82 of 131 in VA (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Colonial Beach Elementary (math 43% / reading 64%, grade C, #684 of 1,108 statewide, top 62%, 360 students, 80% FRL); Colonial Beach High (math 34% / reading 95%, grade B, #212 of 319 statewide, top 66%, 214 students, 85% FRL) — zoned schools average 82% FRL vs 52% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 195 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 220 units permitted in Westmoreland County in 2024 (0 in 5+ unit buildings).
• Westmoreland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $275k implies a 358% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.5% in Colonial Beach — 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 runs 38% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1977 — 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 B-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.
• 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.