119 Church St

Alberta, VA 23821

$58,300B

3 bd · 1.5 ba · 1,948 sqft · Built 1936 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$306
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $942/mo
• Annual: $11,305/yr
• Cap rate: 25.68%
• Cash-on-cash: 69.25%
• DSCR: 4.08
• 1% rule: 2.83%
• Cash to close: $16,324

Investor read

• This is a 3-bed/1.5-bath single-family listed at $58k.
• At list price, monthly cash flow is $942 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• It's been on market 31 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($403 loan paydown + $1k appreciation (2.3% local appreciation)).
• Location reads 60/100 on livability (#432 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• Brunswick County Public School District (rural): math 24% / reading 47% proficiency, ranked #130 of 131 in VA (top 99%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 37 units permitted in Brunswick County in 2024 (0 in 5+ unit buildings).
• Brunswick County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.