748 Snow Mountain Rd

Stanardsville, VA 22973

$199,000C+

3 bd · 2.0 ba · 1,477 sqft · Built 1992 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,125/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $304/mo
• Annual: $3,645/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $55,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#243 in VA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, schools A-, cost of living A-; Watch: employment D+, amenities F, commute F.
• Greene County Public School District (town): math 40% / reading 64% proficiency, ranked #88 of 131 in VA (top 67%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 83 active listings in the ZIP; 204 units permitted in Greene County in 2024 (34 in 5+ unit buildings).
• Greene County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 8.1% vs local median 4.8% in Stanardsville — 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

• 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.