2528 Old Hurst Rd

Hiwassee, VA 24347

$139,000D+

2 bd · 2.0 ba · 1,196 sqft · Built 2012 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-12/mo
• Annual: $-141/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• 1% rule: 0.75%
• Cash to close: $38,920

Investor read

• This is a 2-bed/2.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (25.0% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $104k (25.0% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($961 loan paydown + $6k appreciation (4.3% local appreciation)).
• Location reads 63/100 on livability (#384 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, health & safety F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Snowville Elementary (math 62% / reading 77%, grade A-, #313 of 1,108 statewide, top 32%, 215 students, 78% FRL); Pulaski County Middle (math 38% / reading 60%, grade C-, #238 of 342 statewide, top 71%, 807 students, 77% FRL); Pulaski County Senior High (math 63% / reading 70%, grade B, #195 of 319 statewide, top 62%, 1,246 students, 76% FRL) — zoned schools average 77% FRL vs 47% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 39 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• Pulaski County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Current owner paid $45k; list at $139k implies a 209% gain — meaningful room to come down on a strong offer.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.