1029 West Daffodil Rd

Twin Lakes, VA 22968

$345,900D

3 bd · 2.0 ba · 2,132 sqft · Built 1998 · SingleFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,789/mo
• Mortgage (P&I): −$1,814
• Tax + insurance: −$341
• HOA: −$50
• Vac / Maint / Mgmt: −$586
• Net cashflow: $-1/mo
• Annual: $-18/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.02%
• DSCR: 1.00
• 1% rule: 0.81%
• Cash to close: $96,852

Investor read

• This is a 3-bed/2.0-bath single-family listed at $346k.
• At list price, monthly cash flow is $-1 ($-18/yr) — negative.
• To cash-flow at today's rent, offer at most $346k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (19.4% below list).
• It's been on market 82 days — a 6% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $279k (19.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#419 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Nathanael Greene Elementary (math 38% / reading 54%, grade D-, #821 of 1,108 statewide, top 74%, 353 students, 68% FRL); William Monroe Middle (math 36% / reading 65%, grade C, #226 of 342 statewide, top 67%, 675 students, 67% FRL); William Monroe High (math 40% / reading 78%, grade C+, #256 of 319 statewide, top 81%, 957 students, 67% FRL) — zoned schools average 67% FRL vs 32% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 7 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $224k; list at $346k implies a 54% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 82 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 D-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.