1851 Cullers Run Rd

Orkney Springs, VA 26812

$75,000C+

3 bd · 1.0 ba · 1,232 sqft · Built 1919 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,059/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $318/mo
• Annual: $3,816/yr
• Cap rate: 11.38%
• Cash-on-cash: 18.17%
• DSCR: 1.81
• 1% rule: 1.41%
• Cash to close: $21,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $75k. Condition is rated poor.
• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($519 loan paydown + $946 appreciation (1.3% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Hardy County Schools (rural): math 22% / reading 37% proficiency, ranked #34 of 55 in WV (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Hardy Early/Middle School (math 14% / reading 30%, grade F, #324 of 377 statewide, top 89%, 339 students, 0% FRL); East Hardy High School (math 24% / reading 54%, grade F, #21 of 110 statewide, top 26%, 313 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 150 units permitted in Hardy County in 2024 (65 in 5+ unit buildings).
• Hardy County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1919 — 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of potential leaks and wear.
• Major: exterior siding — Peeling and in need of repainting or replacement.
• Major: HVAC/mechanicals — Outdated and likely in need of replacement.
• Major: interior walls/paint — Likely in poor condition and in need of repair or replacement.
• Major: landscaping — Overgrown and in need of trimming and maintenance.
• Major: foundation/structure — Aged and in poor condition, likely in need of structural repairs or replacement.