7257 Spur Ln

Eastville, VA 23405

$89,900B

3 bd · 2.0 ba · 1,056 sqft · Built 2006 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,064/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $286/mo
• Annual: $3,436/yr
• Cap rate: 10.11%
• Cash-on-cash: 13.65%
• DSCR: 1.61
• 1% rule: 1.18%
• Cash to close: $25,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 55 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#332 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A, health & safety B+; Watch: employment C-, amenities F, commute F.
• Northampton County Public School District (rural): math 36% / reading 62% proficiency, ranked #103 of 131 in VA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kiptopeke Elementary (math 27% / reading 52%, grade F, #900 of 1,108 statewide, top 83%, 351 students, 100% FRL); Northampton Middle (math 37% / reading 67%, grade C+, #218 of 342 statewide, top 65%, 206 students, 99% FRL); Northampton High (math 47% / reading 77%, grade B-, #231 of 319 statewide, top 75%, 433 students, 100% FRL) — zoned schools average 99% FRL vs 68% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 45 active listings in the ZIP; 164 units permitted in Northampton County in 2024 (0 in 5+ unit buildings).
• Northampton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $90k implies a 649% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/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 55 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 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.