612 Anderson St

Glasgow, VA 24555

$179,900D

3 bd · 1.5 ba · 1,912 sqft · Built 1936 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,970/mo
• Mortgage (P&I): −$1,474
• Tax + insurance: −$207
• HOA: −$0
• Vac / Maint / Mgmt: −$414
• Net cashflow: $-125/mo
• Annual: $-1,503/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.91%
• DSCR: 0.92
• 1% rule: 0.70%
• Cash to close: $78,698

Investor read

• This is a 3-bed/1.5-bath single-family listed at $180k.
• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.9% local appreciation)).
• Location reads 59/100 on livability (#471 in VA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Rockbridge County Public School District (town): math 43% / reading 67% proficiency, ranked #80 of 131 in VA (top 61%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Natural Bridge Elementary (math 52% / reading 57%, grade C, #650 of 1,108 statewide, top 62%, 221 students, 68% FRL); Maury River Middle (math 38% / reading 63%, grade C, #226 of 342 statewide, top 67%, 502 students, 70% FRL); Rockbridge County High (math 52% / reading 82%, grade B, #185 of 319 statewide, top 61%, 994 students, 66% FRL) — zoned schools average 68% FRL vs 37% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 85 units permitted in Rockbridge County in 2024 (0 in 5+ unit buildings).
• Rockbridge County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $134k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 1936 — 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.
• 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?
• 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.
• 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.