6148 Troutdale Hwy

Troutdale, VA 24378

$149,900C

3 bd · 1.0 ba · 2,024 sqft · Built 1966 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,237/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $93/mo
• Annual: $1,112/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• 1% rule: 0.83%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $93 ($1k/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 $124k (17.5% below list).
• It's been on market 86 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (17.5% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.6% local appreciation)).
• Location reads 58/100 on livability (#487 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, schools B+; Watch: health & safety C-, crime D, amenities F.
• Grayson County Public School District (rural): math 68% / reading 76% proficiency, ranked #27 of 131 in VA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 21 active listings in the ZIP; 38 units permitted in Grayson County in 2024 (0 in 5+ unit buildings).
• Grayson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $91k; list at $150k implies a 65% gain — meaningful room to come down on a strong offer.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1966 — 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 B-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 D 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.