333 Honeyville Ave

Stanley, VA 22851

$327,900C-

4 bd · 2.0 ba · 1,596 sqft · Built 1923 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,838/mo
• Mortgage (P&I): −$1,720
• Tax + insurance: −$209
• HOA: −$0
• Vac / Maint / Mgmt: −$596
• Net cashflow: $313/mo
• Annual: $3,760/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• 1% rule: 0.87%
• Cash to close: $91,812

Investor read

• This is a 4-bed/2.0-bath single-family listed at $328k.
• At list price, monthly cash flow is $313 ($4k/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 $284k (13.5% below list).
• It's been on market 52 days — a 3% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $284k (13.5% below list) — sets the bar for 1% rule.
• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#257 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Page County Public School District (rural): math 42% / reading 62% proficiency, ranked #96 of 131 in VA (top 73%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stanley Elementary (math 37% / reading 47%, grade F, #866 of 1,108 statewide, top 80%, 361 students, 87% FRL); Page County Middle (math 36% / reading 60%, grade C-, #247 of 342 statewide, top 74%, 352 students, 70% FRL); Page County High (math 67% / reading 67%, grade B, #185 of 319 statewide, top 61%, 495 students, 70% FRL) — zoned schools average 75% FRL vs 45% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 164 units permitted in Page County in 2024 (0 in 5+ unit buildings).
• Page County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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 (10.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.4% vs local median 4.8% in Stanley — 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 52 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1923 — 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.
• 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.