6049 Canterbury Rd

King William, VA 23177

$99,950B+

2 bd · 1.0 ba · 1,427 sqft · Built 1947 · SingleFamily · Pending · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,357/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $487/mo
• Annual: $5,844/yr
• Cap rate: 12.14%
• Cash-on-cash: 20.88%
• DSCR: 1.93
• 1% rule: 1.36%
• Cash to close: $27,986

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 61 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($692 loan paydown + $5k appreciation (5.0% local appreciation)).
• Location reads 63/100 on livability (#373 in VA) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing B+; Watch: amenities F, commute F, health & safety F.
• King And Queen County Public School District (rural): math 35% / reading 63% proficiency, ranked #101 of 131 in VA (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 36 units permitted in King and Queen County in 2024 (0 in 5+ unit buildings).
• King and Queen County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1947 — 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 B-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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?