2231 Foxfire Rd

Vansant, VA 24656

$20,000D+

2 bd · 1.0 ba · 1,332 sqft · Built 1975 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$12
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $763/mo
• Annual: $9,158/yr
• Cap rate: 52.08%
• Cash-on-cash: 163.53%
• DSCR: 8.28
• 1% rule: 5.57%
• Cash to close: $5,600

Investor read

• This is a 2-bed/1.0-bath other listed at $20k.
• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.5%/yr); year-one equity from $138 of loan paydown is wiped out by about $306 of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#523 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Buchanan County Public School District (rural): math 52% / reading 65% proficiency, ranked #76 of 131 in VA (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 8 active listings in the ZIP; 12 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).
• Buchanan County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.5% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.