498 Clemmer Ridge Ln

Deerfield, VA 24485

$79,000A-

2 bd · 1.0 ba · 560 sqft · Built 1997 · SingleFamily · Pending · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $949/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$89
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $246/mo
• Annual: $2,956/yr
• Cap rate: 10.03%
• Cash-on-cash: 13.36%
• DSCR: 1.59
• 1% rule: 1.20%
• Cash to close: $22,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $79k).
• It's been on market 48 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($546 loan paydown + $5k appreciation (6.4% local appreciation)).
• Location reads 51/100 on livability (#548 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Augusta County Public School District (rural): math 55% / reading 69% proficiency, ranked #52 of 131 in VA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 8 active listings in the ZIP; 357 units permitted in Augusta County in 2024 (50 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $50k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $79k implies a 136% gain — meaningful room to come down on a strong offer.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.