14490 Church St

Eagle Rock, VA 24085

$12,000B

3 bd · 1.0 ba · 2,074 sqft · Built 1900 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,346/mo
• Mortgage (P&I): −$612
• Tax + insurance: −$496
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $-45/mo
• Annual: $-537/yr
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• 1% rule: 1.15%
• Cash to close: $32,659

Investor read

• This is a 3-bed/1.0-bath single-family listed at $12k.
• At list price, monthly cash flow is $-45 ($-537/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• It's been on market 34 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($806 loan paydown + $7k appreciation (6.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Eagle Rock Elementary (math 74% / reading 74%, grade A, #220 of 1,108 statewide, top 22%, 120 students, 72% FRL); Central Academy Middle (math 77% / reading 83%, grade A+, #24 of 342 statewide, top 8%, 369 students, 42% FRL); James River High (math 98% / reading 87%, grade A+, #3 of 319 statewide, top 1%, 460 students, 32% FRL) — zoned schools average 48% FRL vs 19% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 116 units permitted in Botetourt County in 2024 (0 in 5+ unit buildings).
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→21/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?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.