3490 Hadensville Fife Rd

Goochland, VA 23063

$182,500C+

3 bd · 1.0 ba · 1,008 sqft · Built 1965 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,011/mo
• Mortgage (P&I): −$957
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $520/mo
• Annual: $6,240/yr
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• 1% rule: 1.10%
• Cash to close: $51,100

Investor read

• This is a 3-bed/1.0-bath single-family listed at $182k.
• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#160 in VA, #4,994 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, housing F.
• Goochland County Public School District (rural): math 57% / reading 74% proficiency, ranked #29 of 131 in VA (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Goochland Middle (math 48% / reading 73%, grade B+, #156 of 342 statewide, top 46%, 573 students, 32% FRL); Goochland High (math 58% / reading 85%, grade B+, #145 of 319 statewide, top 45%, 890 students, 28% FRL).
• Market conditions: 69 active listings in the ZIP; 322 units permitted in Goochland County in 2024 (0 in 5+ unit buildings).
• Goochland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 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 (-3.0% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 1.6% in Goochland — 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.

Questions for listing agent

• Built in 1965 — 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 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.