210 Plumtree Ave

Colonial Heights, VA 23834

$174,950C-

3 bd · 1.0 ba · 978 sqft · Built 1953 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,482/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$219
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $34/mo
• Annual: $410/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• 1% rule: 0.85%
• Cash to close: $48,986

Investor read

• This is a 3-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $34 ($410/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 $148k (15.3% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $148k (15.3% below list) — sets the bar for 1% rule.
• 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 74/100 on livability (#146 in VA, #4,726 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D, crime F.
• Colonial Heights City Public School District (suburban): math 52% / reading 64% proficiency, ranked #67 of 131 in VA (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lakeview Elementary (math 37% / reading 47%, grade F, #866 of 1,108 statewide, top 80%, 415 students, 87% FRL); Colonial Heights Middle (math 49% / reading 64%, grade B, #184 of 342 statewide, top 54%, 598 students, 86% FRL); Colonial Heights High (math 82% / reading 77%, grade A-, #63 of 319 statewide, top 22%, 876 students, 85% FRL) — zoned schools average 86% FRL vs 37% district-wide (49 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.5%/yr); 126 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 17 units permitted in Colonial Heights city in 2024 (0 in 5+ unit buildings).
• Colonial Heights County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $79k; list at $175k implies a 121% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 42% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.2% in Colonial Heights — 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 1953 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.