10510 Leesville Rd

Motley, VA 24571

$369,900F

3 bd · 2.0 ba · 1,531 sqft · Built 2025 · SingleFamily · Pending · 130 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,570/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$616
• HOA: −$0
• Vac / Maint / Mgmt: −$540
• Net cashflow: $-526/mo
• Annual: $-6,314/yr
• Cap rate: 4.59%
• Cash-on-cash: -6.10%
• DSCR: 0.73
• 1% rule: 0.69%
• Cash to close: $103,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $370k.
• At list price, monthly cash flow is $-526 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (30.5% below list).
• It's been on market 130 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $257k (30.5% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($3k loan paydown + $11k appreciation (2.9% local appreciation)).
• Location reads 60/100 on livability (#446 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, schools F.
• Bedford County Public School District (rural): math 55% / reading 73% proficiency, ranked #41 of 131 in VA (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 294 units permitted in Bedford County in 2024 (0 in 5+ unit buildings).
• Bedford County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts; this cycle's ask has dropped $65k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — 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 130 days. Have you received any prior offers? Is the seller open to a 31% 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.