425 S 14th St

Wytheville, VA 24382

$115,000B+

3 bd · 1.0 ba · 1,225 sqft · Built 1925 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,510/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $398/mo
• Annual: $4,773/yr
• Cap rate: 10.44%
• Cash-on-cash: 14.82%
• DSCR: 1.66
• 1% rule: 1.31%
• Cash to close: $32,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#116 in VA, #3,571 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: employment D, amenities F, commute F.
• Wythe County Public School District (rural): math 67% / reading 77% proficiency, ranked #20 of 131 in VA (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Spiller Elementary (math 62% / reading 73%, grade B+, #372 of 1,108 statewide, top 34%, 624 students, 73% FRL); Scott Memorial Middle (math 73% / reading 79%, grade A, #42 of 342 statewide, top 13%, 318 students, 73% FRL); George Wythe High (math 72% / reading 82%, grade A-, #90 of 319 statewide, top 30%, 462 students, 73% FRL) — zoned schools average 73% FRL vs 41% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 155 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 63 units permitted in Wythe County in 2024 (12 in 5+ unit buildings).
• Wythe County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.4% vs local median 4.3% in Wytheville — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1925 — 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely worn and outdated
• Major: kitchen countertops — worn and in need of replacement
• Major: bathroom fixtures — dated and in need of replacement
• Moderate: exterior siding — weathered and in need of repainting