1501 3rd St

Radford, VA 24141

$169,000C+

4 bd · 1.0 ba · 1,247 sqft · Built 1920 · SingleFamily · Active · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,560/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$328
• Net cashflow: $201/mo
• Annual: $2,415/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• 1% rule: 0.92%
• Cash to close: $47,320

Investor read

• This is a 4-bed/1.0-bath single-family listed at $169k.
• At list price, monthly cash flow is $201 ($2k/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 $156k (7.7% below list).
• It's been on market 166 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• 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 68/100 on livability (#269 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools A-, crime A-; Watch: amenities F, commute F, employment F.
• Radford City Public School District (urban): math 66% / reading 78% proficiency, ranked #26 of 131 in VA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.6%/yr); 150 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Radford city in 2024 (0 in 5+ unit buildings).
• Radford County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 7.7% vs local median 3.6% in Radford — 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

• It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.