7647 S Scenic Hwy

Bland, VA 24315

$150,000C

4 bd · 3.5 ba · 3,592 sqft · Built 1980 · SingleFamily · Pending · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,376/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $167/mo
• Annual: $2,002/yr
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• 1% rule: 0.92%
• Cash to close: $42,000

Investor read

• This is a 4-bed/3.5-bath single-family listed at $150k.
• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (8.2% below list).
• It's been on market 118 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.3% local appreciation)).
• Location reads 72/100 on livability (#202 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D+, amenities F.
• Bland County Public School District (rural): math 62% / reading 80% proficiency, ranked #23 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Bland County Elementary (math 57% / reading 72%, grade B, #416 of 1,108 statewide, top 41%, 371 students, 67% FRL) — zoned schools average 67% FRL vs 32% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 21 active listings in the ZIP; 8 units permitted in Bland County in 2024 (0 in 5+ unit buildings).
• Bland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 7y 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.
• Current owner paid $40k; list at $150k implies a 278% gain — meaningful room to come down on a strong offer.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 118 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 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?
• 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.