3641 Jubal Early Hwy

Boones Mill, VA 24065

$198,888D+

3 bd · 2.0 ba · 1,460 sqft · Built 1975 · SingleFamily · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$1,043
• Tax + insurance: −$149
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $-86/mo
• Annual: $-1,032/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• 1% rule: 0.70%
• Cash to close: $55,689

Investor read

• This is a 3-bed/2.0-bath single-family listed at $199k.
• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (29.6% below list).
• It's been on market 142 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (29.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#303 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities F, commute F, health & safety F.
• Franklin County Public School District (town): math 69% / reading 72% proficiency, ranked #24 of 131 in VA (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 167 units permitted in Franklin County in 2024 (10 in 5+ unit buildings).
• Franklin County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Climate carrying-cost: moderate wildfire risk — 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 142 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-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?
• 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.