34 Windy Hill Ln

Berryville, VA 22611

$100,000A-

2 bd · 1.0 ba · 970 sqft · Built 1967 · Manufactured · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,681/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $699/mo
• Annual: $8,389/yr
• Cap rate: 14.68%
• Cash-on-cash: 29.96%
• DSCR: 2.33
• 1% rule: 1.68%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 76/100 on livability (#117 in VA, #3,582 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment A; Watch: cost of living D+, amenities F, commute F.
• Clarke County Public School District (rural): math 52% / reading 69% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: D.G. Cooley Elementary (math 47% / reading 60%, grade C, #684 of 1,108 statewide, top 62%, 463 students, 31% FRL); Johnson-Williams Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 425 students, 29% FRL); Clarke County High (math 67% / reading 87%, grade A-, #90 of 319 statewide, top 30%, 693 students, 27% FRL).
• Market conditions: 36 active listings in the ZIP; 15 units permitted in Clarke County in 2024 (0 in 5+ unit buildings).
• Clarke County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.7% vs local median 2.1% in Berryville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1967 — 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 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?
• 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.