634 Harrisburg Rd

Charlotte Court House, VA 23962

$130,000C-

3 bd · 2.0 ba · 1,265 sqft · Built 1995 · SingleFamily · Active · 207 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,184/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $37/mo
• Annual: $440/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $37 ($440/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 $118k (9.0% below list).
• It's been on market 207 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($899 loan paydown + $9k appreciation (7.1% local appreciation)).
• Location reads 74/100 on livability (#143 in VA, #4,687 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• Charlotte County Public School District (rural): math 51% / reading 72% proficiency, ranked #59 of 131 in VA (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (7.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed subfloor — Structural damage
• Major: Missing cabinets — No kitchen functionality
• Major: Missing fixtures — No bathroom functionality
• Major: Missing tiles — Exposed subfloor
• Major: Missing drywall — Exposed subfloor