570 Schaeffer Dr

Christiansburg, VA 24073

$68,000B

2 bd · 1.0 ba · 845 sqft · Built 1920 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,583/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $780/mo
• Annual: $9,365/yr
• Cap rate: 20.06%
• Cash-on-cash: 49.18%
• DSCR: 3.19
• 1% rule: 2.33%
• Cash to close: $19,040

Investor read

• This is a 2-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#53 in VA, #1,452 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Montgomery County Public School District (urban): math 57% / reading 70% proficiency, ranked #47 of 131 in VA (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Christiansburg Primary (405 students, 49% FRL); Christiansburg Middle (math 38% / reading 63%, grade C, #226 of 342 statewide, top 67%, 752 students, 44% FRL); Christiansburg High (math 79% / reading 77%, grade A-, #80 of 319 statewide, top 25%, 1,116 students, 41% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.1%/yr); 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 323 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts 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.
• Current owner paid $51k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.1% vs local median 3.9% in Christiansburg — 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

• Built in 1920 — 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?
• 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.