320 Agee Ln · Cumberland, VA 23040

$274,900

4 bd · 2.0 ba · 1,640 sqft · Manufactured public records · 14 Days on market

Built 2005 2.80 ac lot $168/sqft · 22% below area Est $354k · 22% under ↓ 8% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +6.8/30.0
• Appreciation +5.6/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.5/10.0

Listing remarks

Welcome to this beautifully remodeled modular home built in 2005, located at 320 Agee Lane in Cumberland, VA. This move-in-ready property has been completely updated from top to bottom, offering modern comfort and peace of mind. Recent upgrades include a brand-new roof, updated electrical system, and all-new flooring throughout. The home features fresh sheetrock walls, creating a clean, modern interior. The exterior has been refreshed with durable new board-and-batten siding, adding charm and curb appeal. The fully updated kitchen is a standout, featuring gorgeous granite countertops, a farmhouse-style sink, and all-new appliances. A washer and dryer are also included for added convenience.

Key facts

• New flooring
• Updated kitchen
• 2.8 acre lot

Tags

• REMODELED MODULAR HOME
• UPDATED ELECTRICAL SYSTEM
• NEW FLOORING
• FRESH SHEETROCK WALLS
• NEW BOARD-AND-BATTEN SIDING
• UPDATED KITCHEN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story home; Above-grade finished area reported (1,640)
• Construction: Built with block, concrete, drywall and vinyl siding
• Exterior features: Front porch; Lot approximately 2.8 acres; Zoned A2

Interior

• Kitchen: Dishwasher; Microwave; Stove; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 5
• Bathrooms: 2 full bathrooms; One full bath on the first level with tub and shower
• Heating & cooling: Central air; Heat pump; Electric forced-air heating
• Interior features: Wood-burning fireplace; Resale condition
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $275k.

Deal economics

• At list price, monthly cash flow is $-433 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (27.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (45.5% below list).
• Recommended offer: $150k (45.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.1% in Cumberland — 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.

Location & tenants

• Location reads 57/100 on livability (#499 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, health & safety B+; Watch: amenities F, commute F, employment F.
• Cumberland County Public School District (rural): math 33% / reading 56% proficiency, ranked #113 of 131 in VA (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 44 active listings in the ZIP; 80 units permitted in Cumberland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Cumberland County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $24k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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.

Recommended offer $149,886 (45.5% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.55% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.76%
• DSCR: 0.70
• GRM: 15.3

CMA / ARV

• ARV (median comp): $354,043
• List price: $274,900
• Delta: -15.55%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

1.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.75×
• Total profit: $-19,518
• Equity at exit: $97,146

10-year hold

• IRR: 0.2%
• Equity multiple: 1.03×
• Total profit: $2,319
• Equity at exit: $131,688

Cash invested: $76,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23040

• Home prices YoY: 0.6%
• Active inventory: 44
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$61 /mo · $737/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-433

Break-even live

Break-even rent $2,048

Max offer price $198,323

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $274,900 Active 14 DOM
2. 2026-06-17
   days on market $274,900 Active 13 DOM
3. 2026-06-16
   pricedays on market $274,900 Active 12 DOM
4. 2026-06-15
   days on market $299,000 Active 11 DOM
5. 2026-06-15
   days on market $299,000 Active 10 DOM
6. 2026-06-13
   days on market $299,000 Active 9 DOM
7. 2026-06-12
   days on market $299,000 Active 8 DOM
8. 2026-06-09
   days on market $299,000 Active 5 DOM
9. 2026-06-08
   days on market $299,000 Active 4 DOM
10. 2026-06-08
    statusdays on marketlisting id $299,000 Active 3 DOM
11. 2026-05-05
    listed $299,000 Active 1048-char remark
12. 2026-05-05
    historical $299,000 1048-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $737 · $61/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$1,517/yr (+$126/mo · 205.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,986
• − Mortgage interest: −$15,399
• − Property taxes: −$737
• − Insurance: −$1,374
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$7,997
• Taxable loss: −$10,399
• Est. tax savings @ 24.0%: +$2,496
• After-tax cash flow: $-2,706/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cumberland County Public School District
• NCES district ID: 5101080
• Math proficiency: 33% ▼ -43.00%
• Reading proficiency: 56% ▼ -12.00%
• Median HH income: $41,600
• Composite: 37.33/100
• National rank: #4443
• State rank: #113 of 131 in VA

Livability — Cumberland

• Score: 57/100
• State rank: #499
• US rank: #22100

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing C Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,491

Population outlook (Cumberland County) Hauer SSP2

• Today (2025): 9,012 people
• By 2030: 8,578 · -4.8%
• By 2040: 7,622 · -15.4%
• By 2050: 6,640 · -26.3%
• By 2075: 4,936 · -45.2%
• By 2100: 3,994 · -55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Black 39% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 2%

Political lean MEDSL · Cumberland

• 2024 margin: Strong R (+22.2) · D 38.6% · R 60.8%
• 2008→2024 swing: -18.7pp toward R · 2008: -3.5pp · 2024: -22.2pp
• All cycles: 2024: R+22.2 2020: R+14.9 2016: R+13.6 2012: R+2.3 2008: R+3.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.23%
• Current HPI: 225.2371
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

-8.1% since first listed

4 events — show timeline

• 2026-06-16 Price Changed $274,900 CVRMLS
• 2026-06-05 Listed $299,000 CVRMLS
• 2026-05-05 Listed $299,000 CVRMLS
• 2026-05-05 Coming Soon — CVRMLS

Property tax history

-0.5%/yr

Latest (2026): $737 · +0.0% YoY. Source: county tax records.