2279 Saltville Hwy

Saltville, VA 24370

$79,900A-

3 bd · 2.0 ba · 1,137 sqft · Built 1933 · SingleFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,056/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $282/mo
• Annual: $3,382/yr
• Cap rate: 10.53%
• Cash-on-cash: 15.12%
• DSCR: 1.67
• 1% rule: 1.32%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 101 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• In year one you build about $786 of equity ($552 loan paydown + $234 appreciation (0.3% local appreciation)).
• Location reads 72/100 on livability (#206 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Smyth County Public School District (rural): math 46% / reading 63% proficiency, ranked #89 of 131 in VA (top 68%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rich Valley Elementary (math 47% / reading 57%, grade C-, #696 of 1,108 statewide, top 66%, 130 students, 92% FRL); Northwood Middle (math 42% / reading 67%, grade B-, #194 of 342 statewide, top 60%, 151 students, 86% FRL); Northwood High (math 62% / reading 77%, grade B, #159 of 319 statewide, top 53%, 240 students, 87% FRL) — zoned schools average 88% FRL vs 54% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 38 units permitted in Smyth County in 2024 (0 in 5+ unit buildings).
• Smyth County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y 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.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 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

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.