2511 Edgewood Dr

Lake Land'Or, VA 22546

$250,000C

3 bd · 1.0 ba · 1,008 sqft · Built 1977 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,356/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$209
• HOA: −$0
• Vac / Maint / Mgmt: −$495
• Net cashflow: $341/mo
• Annual: $4,091/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• 1% rule: 0.94%
• Cash to close: $70,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $341 ($4k/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 $236k (5.8% below list).
• It's been on market 27 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $236k (5.8% 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Caroline County Public School District (rural): math 39% / reading 62% proficiency, ranked #95 of 131 in VA (top 72%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lewis And Clark Elementary (math 53% / reading 64%, grade B-, #576 of 1,108 statewide, top 52%, 890 students, 75% FRL); Caroline Middle (math 36% / reading 67%, grade C, #222 of 342 statewide, top 65%, 973 students, 75% FRL); Caroline High (math 46% / reading 76%, grade C+, #242 of 319 statewide, top 76%, 1,251 students, 75% FRL) — zoned schools average 75% FRL vs 44% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 273 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 318 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).
• Caroline County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 3.6% in Lake Land'Or — 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 32% of the median local income ($89k/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.
• 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.