4269-A Americana Dr

Annandale, VA 22003

$175,000D

1 bd · 1.0 ba · 486 sqft · Built 1961 · Condo · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,744/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$222
• HOA: −$275
• Vac / Maint / Mgmt: −$366
• Net cashflow: $-37/mo
• Annual: $-442/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• 1% rule: 1.00%
• Cash to close: $49,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $175k.
• At list price, monthly cash flow is $-37 ($-442/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (0.3% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $168k (3.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#12 in VA, #293 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Fairfax County Public School District (suburban): math 61% / reading 73% proficiency, ranked #13 of 131 in VA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canterbury Woods Elementary (math 82% / reading 91%, grade A+, #47 of 1,108 statewide, top 5%, 787 students, 14% FRL); Frost Middle (math 79% / reading 91%, grade A+, #13 of 342 statewide, top 4%, 1,209 students, 14% FRL); Annandale High (math 58% / reading 73%, grade B, #204 of 319 statewide, top 65%, 2,182 students, 64% FRL).
• Zoned-school proficiency averages 79% at this address vs 67% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Fairfax County Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.2%/yr); 158 active listings in the ZIP; high-income renter base; 2,861 units permitted in Fairfax County in 2024 (1,829 in 5+ unit buildings).
• Fairfax County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.7% in Annandale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent is only 15% of the median local income ($139k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.