1432 Church St

Appomattox, VA 24522

$40,000F

3 bd · 1.0 ba · 1,345 sqft · Built 1950 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$1,298
• Tax + insurance: −$412
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $-722/mo
• Annual: $-8,670/yr
• Cap rate: 2.79%
• Cash-on-cash: -12.51%
• DSCR: 0.44
• 1% rule: 0.51%
• Cash to close: $69,294

Investor read

• This is a 3-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $-722 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (6.6% local appreciation)).
• Location reads 77/100 on livability (#98 in VA, #3,144 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Appomattox County Public School District (rural): math 53% / reading 69% proficiency, ranked #56 of 131 in VA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Appomattox Elementary (math 50% / reading 65%, grade C+, #588 of 1,108 statewide, top 54%, 531 students, 74% FRL); Appomattox Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 539 students, 74% FRL); Appomattox County High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 699 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 9.3% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 101 active listings in the ZIP; 95 units permitted in Appomattox County in 2024 (0 in 5+ unit buildings).
• Appomattox County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 10y 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.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.