9755 Big Valley Rd

Warm Springs, VA 24484

$37,500B+

2 bd · 1.0 ba · 1,260 sqft · Built 1965 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,063/mo
• Mortgage (P&I): −$197
• Tax + insurance: −$27
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $616/mo
• Annual: $7,391/yr
• Cap rate: 26.00%
• Cash-on-cash: 70.40%
• DSCR: 4.13
• 1% rule: 2.83%
• Cash to close: $10,500

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $38k.
• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($259 loan paydown + $1k appreciation (2.9% local appreciation)).
• Location reads 37/100 on livability (#588 in VA) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Highland County Public School District (rural): math 85% / reading 90% proficiency, ranked #19 of 134 in VA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 17 active listings in the ZIP; 12 units permitted in Highland County in 2024 (0 in 5+ unit buildings).
• Highland County population projected at -44% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1965 — 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.
• 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.