18455 Richmond Hwy

Pamplin City, VA 23958

$67,500B+

3 bd · 2.0 ba · 1,408 sqft · Built 1983 · Manufactured · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,324/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$52
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $641/mo
• Annual: $7,689/yr
• Cap rate: 17.68%
• Cash-on-cash: 40.68%
• DSCR: 2.81
• 1% rule: 1.96%
• Cash to close: $18,900

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 109 days — a 9% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($467 loan paydown + $4k appreciation (6.4% local appreciation)).
• Location reads 61/100 on livability (#423 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D+.
• Appomattox County Public School District (rural): math 53% / reading 69% proficiency, ranked #56 of 131 in VA (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 42 active listings in the ZIP; 95 units permitted in Appomattox County in 2024 (0 in 5+ unit buildings).
• Appomattox County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/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 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.