4722 Ivanhoe Rd

Ivanhoe, VA 24350

$165,000C-

4 bd · 1.0 ba · 1,260 sqft · Built 1930 · SingleFamily · Active · 176 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,184/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $-37/mo
• Annual: $-441/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• 1% rule: 0.72%
• Cash to close: $46,200

Investor read

• This is a 4-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-37 ($-441/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (28.3% below list).
• It's been on market 176 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (28.3% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.9% local appreciation)).
• Location reads 56/100 on livability (#509 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D+, schools F, amenities F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $165k implies a 92% gain — meaningful room to come down on a strong offer.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k 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?
• It's been on market 176 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.