1334 Price St

Montvale, VA 24122

$239,900B-

3 bd · 0.5 ba · 1,610 sqft · Built 1940 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,118/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$161
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $254/mo
• Annual: $3,052/yr
• Cap rate: 7.57%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• 1% rule: 0.88%
• Cash to close: $67,172

Investor read

• This is a 3-bed/0.5-bath single-family listed at $240k.
• At list price, monthly cash flow is $254 ($3k/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 $212k (11.7% below list).
• It's been on market 18 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (11.7% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($2k loan paydown + $12k appreciation (4.8% local appreciation)).
• Location reads 70/100 on livability (#225 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D, amenities F.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Montvale Elementary (math 57% / reading 57%, grade C+, #597 of 1,108 statewide, top 57%, 253 students, 87% FRL); Liberty Middle (math 49% / reading 67%, grade B, #174 of 342 statewide, top 51%, 535 students, 86% FRL); Liberty High (math 41% / reading 68%, grade C-, #281 of 319 statewide, top 90%, 726 students, 69% FRL) — zoned schools average 81% FRL vs 30% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — 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.