8197 Lankford Hwy

Oak Hall, VA 23416

$56,100B

2 bd · 1.0 ba · 720 sqft · Built 1955 · SingleFamily · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $877/mo
• Mortgage (P&I): −$294
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $350/mo
• Annual: $4,201/yr
• Cap rate: 13.78%
• Cash-on-cash: 26.75%
• DSCR: 2.19
• 1% rule: 1.56%
• Cash to close: $15,708

Investor read

• This is a 2-bed/1.0-bath single-family listed at $56k.
• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $56k).
• It's been on market 113 days — a 9% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (9.0% below list) — sets the bar for market timing.
• In year one you build about $120 of equity ($388 loan paydown + $-268 appreciation (-0.5% local appreciation)).
• Location reads 47/100 on livability (#558 in VA) — a working-class tenant base; expect higher turnover. Strengths: schools A+, crime A, cost of living A-; Watch: amenities F, commute F, employment F.
• Accomack County Public School District (rural): math 44% / reading 59% proficiency, ranked #99 of 131 in VA (top 76%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 181 units permitted in Accomack County in 2024 (0 in 5+ unit buildings).
• Accomack County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.