11821 Central St

Riverview, VA 24230

$165,000D+

3 bd · 1.5 ba · 1,480 sqft · Built 1946 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $-10/mo
• Annual: $-123/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.06
• 1% rule: 0.79%
• Cash to close: $46,200

Investor read

• This is a 3-bed/1.5-bath single-family listed at $165k.
• At list price, monthly cash flow is $-10 ($-123/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (21.2% below list).
• It's been on market 86 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $130k (21.2% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($1k loan paydown + $112 appreciation (0.1% local appreciation)).
• Location reads 55/100 on livability (#516 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Wise County Public School District (town): math 74% / reading 79% proficiency, ranked #11 of 131 in VA (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: flood insurance adds $66/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Wise County in 2024 (0 in 5+ unit buildings).
• Wise County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk — 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 86 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1946 — 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?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?