109 Meador Ln

Laymantown, VA 24012

$239,950D

3 bd · 2.0 ba · 1,440 sqft · Built 1983 · Manufactured · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $-91/mo
• Annual: $-1,089/yr
• Cap rate: 5.84%
• Cash-on-cash: -1.62%
• DSCR: 0.93
• 1% rule: 0.71%
• Cash to close: $67,186

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $240k.
• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (29.2% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $170k (29.2% 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 $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#306 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Colonial Elementary (math 82% / reading 82%, grade A+, #106 of 1,108 statewide, top 11%, 478 students, 40% FRL); Read Mountain Middle (math 75% / reading 82%, grade A+, #32 of 342 statewide, top 9%, 657 students, 35% FRL); Lord Botetourt High (math 83% / reading 92%, grade A, #15 of 319 statewide, top 4%, 980 students, 27% FRL).
• Market conditions: Rents rising fast (+10.5%/yr); 196 active listings in the ZIP; 116 units permitted in Botetourt County in 2024 (0 in 5+ unit buildings).
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 39% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.