11568 Jerusalem Plank Rd

Sussex, VA 23890

$115,000D+

2 bd · 1.0 ba · 768 sqft · Built 2005 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $937/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $45/mo
• Annual: $539/yr
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• 1% rule: 0.81%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $45 ($539/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (18.5% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $94k (18.5% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (2.5% local appreciation)).
• Location reads 73/100 on livability (#184 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F.
• Sussex County Public School District (rural): math 36% / reading 56% proficiency, ranked #111 of 131 in VA (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP; 29 units permitted in Sussex County in 2024 (0 in 5+ unit buildings).
• Sussex County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.