2998 Rambling Brook Ln Lot 121

Crozet, VA 22932

$359,990D-

3 bd · 3.5 ba · 1,725 sqft · Built 2026 · Townhouse · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,762/mo
• Mortgage (P&I): −$1,888
• Tax + insurance: −$600
• HOA: −$127
• Vac / Maint / Mgmt: −$580
• Net cashflow: $-433/mo
• Annual: $-5,198/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• 1% rule: 0.77%
• Cash to close: $100,797

Investor read

• This is a 3-bed/3.5-bath townhouse listed at $360k.
• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $297k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (23.3% below list).
• It's been on market 72 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $276k (23.3% 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 $11k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#48 in VA, #1,158 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities C-, commute F, cost of living F.
• Albemarle County Public School District (rural): math 66% / reading 77% proficiency, ranked #14 of 131 in VA (top 11%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 204 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 810 units permitted in Albemarle County in 2024 (188 in 5+ unit buildings).
• Albemarle County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $22k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.8% vs local median 2.7% in Crozet — 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.

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 72 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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.