162 Tinkerview Dr

Cloverdale, VA 24077

$208,900C-

2 bd · 1.5 ba · 1,188 sqft · Built 1988 · Townhouse · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$1,095
• Tax + insurance: −$255
• HOA: −$107
• Vac / Maint / Mgmt: −$388
• Net cashflow: $4/mo
• Annual: $53/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• 1% rule: 0.89%
• Cash to close: $58,492

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $209k.
• At list price, monthly cash flow is $4 ($53/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 $185k (11.4% below list).
• It's been on market 30 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (11.4% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $3k appreciation (1.6% local appreciation)).
• Location reads 66/100 on livability (#325 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: employment C-, amenities F, commute F.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Cloverdale Elementary (math 77% / reading 87%, grade A+, #106 of 1,108 statewide, top 11%, 249 students, 33% FRL); Read Mountain Middle (math 75% / reading 82%, grade A+, #32 of 342 statewide, top 9%, 657 students, 35% FRL); Lord Botetourt High (math 83% / reading 92%, grade A, #15 of 319 statewide, top 4%, 980 students, 27% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 6 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 116 units permitted in Botetourt County in 2024 (0 in 5+ unit buildings).
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 24y 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 $113k; list at $209k implies a 85% gain — meaningful room to come down on a strong offer.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.