1055 W North St

Wytheville, VA 24382

$260,000F

2 bd · 1.5 ba · 1,344 sqft · Built 1970 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $-558/mo
• Annual: $-6,699/yr
• Cap rate: 3.72%
• Cash-on-cash: -9.20%
• DSCR: 0.59
• 1% rule: 0.48%
• Cash to close: $72,800

Investor read

• This is a 2-bed/1.5-bath single-family listed at $260k.
• At list price, monthly cash flow is $-558 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (37.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (51.9% below list).
• It's been on market 19 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (51.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#116 in VA, #3,571 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: employment D, amenities F, commute 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.
• Zoned schools: Spiller Elementary (math 62% / reading 73%, grade B+, #372 of 1,108 statewide, top 34%, 624 students, 73% FRL); Scott Memorial Middle (math 73% / reading 79%, grade A, #42 of 342 statewide, top 13%, 318 students, 73% FRL); George Wythe High (math 72% / reading 82%, grade A-, #90 of 319 statewide, top 30%, 462 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• Current owner paid $114k; list at $260k implies a 128% gain — meaningful room to come down on a strong offer.

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?
• Built in 1970 — 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 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.