6458 Piney Woods Rd

Snowville, VA 24149

$452,500D

4 bd · 2.0 ba · 3,240 sqft · Built 1940 · SingleFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,790/mo
• Mortgage (P&I): −$2,373
• Tax + insurance: −$372
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $-1,332/mo
• Annual: $-15,980/yr
• Cap rate: 2.76%
• Cash-on-cash: -12.61%
• DSCR: 0.44
• 1% rule: 0.40%
• Cash to close: $126,700

Investor read

• This is a 4-bed/2.0-bath single-family listed at $452k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (52.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (60.5% below list).
• It's been on market 91 days — a 9% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (60.5% below list) — sets the bar for 1% rule.
• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Location reads 56/100 on livability (#507 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment 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.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 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.
• 2 sale attempts; this cycle's ask has dropped $35k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $452k implies a 151% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.