143 Mustang St

Clinchport, VA 24244

$95,000A-

2 bd · 1.5 ba · 1,187 sqft · Built 1930 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,600/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$520
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $246/mo
• Annual: $2,951/yr
• Cap rate: 15.21%
• Cash-on-cash: 31.86%
• DSCR: 2.42
• 1% rule: 1.68%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.5-bath single-family listed at $95k.
• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• It's been on market 58 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($657 loan paydown + $2k appreciation (2.4% local appreciation)).
• Location reads 45/100 on livability (#566 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Scott County Public School District (rural): math 66% / reading 73% proficiency, ranked #33 of 131 in VA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Duffield-Pattonsville Primary (math 67% / reading 72%, grade A-, #313 of 1,108 statewide, top 32%, 286 students, 78% FRL); Rye Cove Intermediate (math 42% / reading 72%, grade B, #178 of 342 statewide, top 53%, 153 students, 78% FRL); Rye Cove High (math 57% / reading 72%, grade B-, #213 of 319 statewide, top 69%, 279 students, 76% FRL) — zoned schools average 77% FRL vs 48% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $460/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 22 units permitted in Scott County in 2024 (0 in 5+ unit buildings).
• Scott County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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?
• 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.