1048 Stockton St

Radford, VA 24141

$36,500B

2 bd · 2.0 ba · 1,806 sqft · Built 1920 · SingleFamily · Pending · 124 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,158/mo
• Mortgage (P&I): −$191
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $682/mo
• Annual: $8,187/yr
• Cap rate: 28.72%
• Cash-on-cash: 80.10%
• DSCR: 4.56
• 1% rule: 3.17%
• Cash to close: $10,220

Investor read

• This is a 2-bed/2.0-bath single-family listed at $36k.
• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 124 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $252 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#269 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools A-, crime A-; Watch: amenities F, commute F, employment F.
• Radford City Public School District (urban): math 66% / reading 78% proficiency, ranked #26 of 131 in VA (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.6%/yr); 150 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 28 units permitted in Radford city in 2024 (0 in 5+ unit buildings).
• Radford County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $7k; list at $36k implies a 407% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 28.7% vs local median 3.6% in Radford — 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

• It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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.
• 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.