2112 Morningstar Rd · Appomattox, VA 24522

$199,900

3 bd · 2.0 ba · 1,566 sqft · Manufactured public records · 14 Days on market

Built 2003 2.54 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +8.3/30.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

Check out this OPEN floorplan 3 br. 2 bath home on a perfect 2.54 acre lot located just 10 mins to the town of Appomattox with FIREFLY fiber optic internet. This property has a very nice flat yard with a large storage shed and a fenced backyard. The rest of the land is mix of hardwoods offering privacy all around. The home just had vinyl plank flooring installed in the living and dining areas. The kitchen offers ample cabinet & countertop space plus there is a large pantry in the laundry room. The main bedroom has a private bath with a walk in closet and a garden tub. This is a Palm Harbor brand manufactured home. Palm Harbor is known for superior construction in the manufactured home industry with 3/4 osb subflooring, 2x4 walls and standard size doors & windows. Call today to take a look!

Key facts

• Mix of hardwoods
• Open floorplan
• Fenced backyard

Tags

• OPEN FLOORPLAN
• FLAT YARD
• LARGE STORAGE SHED
• FENCED BACKYARD
• MIX OF HARDWOODS
• VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (36.9% below list).
• Recommended offer: $126k (36.9% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.5% in Appomattox — 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.

Location & tenants

• Location reads 77/100 on livability (#98 in VA, #3,144 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Appomattox County Public School District (rural): math 53% / reading 69% proficiency, ranked #56 of 131 in VA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Appomattox Primary (592 students, 72% FRL); Appomattox Middle (math 49% / reading 68%, grade B, #171 of 342 statewide, top 50%, 539 students, 74% FRL); Appomattox County High (math 77% / reading 87%, grade A, #40 of 319 statewide, top 15%, 699 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 102 active listings in the ZIP; 95 units permitted in Appomattox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.6% local appreciation)).
• Appomattox County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,107 (36.9% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.63% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.95%
• DSCR: 0.82
• GRM: 13.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.94×
• Total profit: $52,541
• Equity at exit: $132,750

10-year hold

• IRR: 13.9%
• Equity multiple: 3.89×
• Total profit: $161,988
• Equity at exit: $247,101

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24522

• Home prices YoY: 3.3%
• Active inventory: 102
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,261 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$49 /mo · $586/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-184

Break-even live

Break-even rent $1,494

Max offer price $167,366

Occupancy floor —

Sensitivity live

Price	-10% $-71	-5% $-128	+0% $-184	+5% $-241	+10% $-297
Rent	-10% $-284	-5% $-234	+0% $-184	+5% $-134	+10% $-85
Rate	-1.0pp $-83	-0.5pp $-133	base $-184	+0.5pp $-236	+1.0pp $-289

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-13
   soldstatus $199,900 Closed 812-char remark

   Show marketing remark (812 chars)

   Check out this OPEN floorplan 3 br. 2 bath home on a perfect 2.54 acre lot located just 10 mins to the town of Appomattox with FIREFLY fiber optic internet. This property has a very nice flat yard with a large storage shed and a fenced backyard. The rest of the land is mix of hardwoods offering privacy all around. The home just had vinyl plank flooring installed in the living and dining areas. The kitchen offers ample cabinet & countertop space plus there is a large pantry in the laundry room. The main bedroom has a private bath with a walk in closet and a garden tub. This is a Palm Harbor brand manufactured home. Palm Harbor is known for superior construction in the manufactured home industry with 3/4 osb subflooring, 2x4 walls and standard size doors & windows. Call today to take a look!

2. 2026-03-13
   soldstatus $199,900

   Show marketing remark (812 chars)

   Check out this OPEN floorplan 3 br. 2 bath home on a perfect 2.54 acre lot located just 10 mins to the town of Appomattox with FIREFLY fiber optic internet. This property has a very nice flat yard with a large storage shed and a fenced backyard. The rest of the land is mix of hardwoods offering privacy all around. The home just had vinyl plank flooring installed in the living and dining areas. The kitchen offers ample cabinet & countertop space plus there is a large pantry in the laundry room. The main bedroom has a private bath with a walk in closet and a garden tub. This is a Palm Harbor brand manufactured home. Palm Harbor is known for superior construction in the manufactured home industry with 3/4 osb subflooring, 2x4 walls and standard size doors & windows. Call today to take a look!

3. 2026-02-17
   status Pending
4. 2026-02-10
   status Pending 812-char remark

   Show marketing remark (812 chars)

   Check out this OPEN floorplan 3 br. 2 bath home on a perfect 2.54 acre lot located just 10 mins to the town of Appomattox with FIREFLY fiber optic internet. This property has a very nice flat yard with a large storage shed and a fenced backyard. The rest of the land is mix of hardwoods offering privacy all around. The home just had vinyl plank flooring installed in the living and dining areas. The kitchen offers ample cabinet & countertop space plus there is a large pantry in the laundry room. The main bedroom has a private bath with a walk in closet and a garden tub. This is a Palm Harbor brand manufactured home. Palm Harbor is known for superior construction in the manufactured home industry with 3/4 osb subflooring, 2x4 walls and standard size doors & windows. Call today to take a look!

5. 2026-02-03
   listed $199,900 Active
6. 2026-01-27
   listed $199,900 Active 812-char remark

   Show marketing remark (812 chars)

   Check out this OPEN floorplan 3 br. 2 bath home on a perfect 2.54 acre lot located just 10 mins to the town of Appomattox with FIREFLY fiber optic internet. This property has a very nice flat yard with a large storage shed and a fenced backyard. The rest of the land is mix of hardwoods offering privacy all around. The home just had vinyl plank flooring installed in the living and dining areas. The kitchen offers ample cabinet & countertop space plus there is a large pantry in the laundry room. The main bedroom has a private bath with a walk in closet and a garden tub. This is a Palm Harbor brand manufactured home. Palm Harbor is known for superior construction in the manufactured home industry with 3/4 osb subflooring, 2x4 walls and standard size doors & windows. Call today to take a look!

7. 2020-08-31
   soldstatus $97,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $586 · $49/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$1,053/yr (+$88/mo · 179.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,133
• − Mortgage interest: −$11,198
• − Property taxes: −$586
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$5,815
• Taxable loss: −$5,887
• Est. tax savings @ 24.0%: +$1,413
• After-tax cash flow: $-797/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Appomattox County Public School District
• NCES district ID: 5100240
• Math proficiency: 53% ▼ -31.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $50,059
• Composite: 51.85/100
• National rank: #1663
• State rank: #56 of 131 in VA

Livability — Appomattox

• Score: 77/100
• State rank: #98
• US rank: #3144

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing B+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,494

Population outlook (Appomattox County) Hauer SSP2

• Today (2025): 16,213 people
• By 2030: 16,548 · +2.1%
• By 2040: 17,047 · +5.1%
• By 2050: 17,286 · +6.6%
• By 2075: 17,710 · +9.2%
• By 2100: 16,609 · +2.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 19% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 0%

Political lean MEDSL · Appomattox

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.1%
• 2008→2024 swing: -21.4pp toward R · 2008: -29.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.2 2016: R+46.4 2012: R+36.4 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.56%
• Current HPI: 205.9082
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+105.0% since first listed

7 events — show timeline

• 2026-03-13 Sold (Public Records) $199,900 Public Records
• 2026-03-13 Sold (MLS) $199,900 LMLS
• 2026-02-17 Pending — SCAR
• 2026-02-10 Pending — LMLS
• 2026-02-03 Listed $199,900 SCAR
• 2026-01-27 Listed $199,900 LMLS
• 2020-08-31 Sold (Public Records) $97,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $586 · +0.0% YoY. Source: county tax records.