2717 Max Creek Rd

Hiwassee, VA 24347

$50,000B+

3 bd · 3.0 ba · 1,374 sqft · Built 1918 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $538/mo
• Annual: $6,450/yr
• Cap rate: 22.20%
• Cash-on-cash: 56.81%
• DSCR: 3.53
• 1% rule: 2.50%
• Cash to close: $14,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 55 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (4.3% local appreciation)).
• Location reads 63/100 on livability (#384 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, health & safety F.
• Pulaski County Public School District (rural): math 48% / reading 61% proficiency, ranked #86 of 131 in VA (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Snowville Elementary (math 62% / reading 77%, grade A-, #313 of 1,108 statewide, top 32%, 215 students, 78% FRL); Pulaski County Middle (math 38% / reading 60%, grade C-, #238 of 342 statewide, top 71%, 807 students, 77% FRL); Pulaski County Senior High (math 63% / reading 70%, grade B, #195 of 319 statewide, top 62%, 1,246 students, 76% FRL) — zoned schools average 77% FRL vs 47% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $125/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 39 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• Pulaski County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.