Aspen Plan

Ruckersville, VA 22923

$359,990F

3 bd · 2.0 ba · 1,440 sqft · Built — · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,734/mo
• Mortgage (P&I): −$2,197
• Tax + insurance: −$698
• HOA: −$0
• Vac / Maint / Mgmt: −$574
• Net cashflow: $-734/mo
• Annual: $-8,814/yr
• Cap rate: 4.19%
• Cash-on-cash: -7.51%
• DSCR: 0.67
• 1% rule: 0.65%
• Cash to close: $117,281

Investor read

• This is a 3-bed/2.0-bath single-family listed at $360k.
• At list price, monthly cash flow is $-734 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (24.0% below list).
• It's been on market 110 days — a 9% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (24.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#318 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing 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.
• Market conditions: 185 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• 3 sale attempts 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.

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 110 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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.
• 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.