1377 Lawrenceville Plank Rd

Lawrenceville, VA 23868

$45,500B

2 bd · 1.0 ba · 864 sqft · Built 1960 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,304/mo
• Mortgage (P&I): −$239
• Tax + insurance: −$31
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $761/mo
• Annual: $9,127/yr
• Cap rate: 26.35%
• Cash-on-cash: 71.64%
• DSCR: 4.19
• 1% rule: 2.87%
• Cash to close: $12,740

Investor read

• This is a 2-bed/1.0-bath single-family listed at $46k.
• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• It's been on market 22 days — a 2% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($315 loan paydown + $893 appreciation (2.0% local appreciation)).
• Location reads 69/100 on livability (#258 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Brunswick County Public School District (rural): math 24% / reading 47% proficiency, ranked #130 of 131 in VA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Brunswick High (math 22% / reading 67%, grade F, #310 of 319 statewide, top 98%, 426 students, 99% FRL) — zoned schools average 99% FRL vs 73% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 43 active listings in the ZIP; 37 units permitted in Brunswick County in 2024 (0 in 5+ unit buildings).
• Brunswick County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 8y ago 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.
• Current owner paid $26k; list at $46k implies a 74% gain — meaningful room to come down on a strong offer.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1960 — 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.
• 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.