8202 Ivanhoe Rd

Ivanhoe, VA 24350

$135,000D+

3 bd · 2.0 ba · 1,300 sqft · Built 1996 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $-120/mo
• Annual: $-1,440/yr
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• 1% rule: 0.82%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (17.5% below list).
• It's been on market 20 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (17.5% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($933 loan paydown + $7k appreciation (4.9% local appreciation)).
• Location reads 56/100 on livability (#509 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• Carroll County Public School District (rural): math 60% / reading 70% proficiency, ranked #46 of 131 in VA (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gladeville Elementary (math 57% / reading 62%, grade B-, #536 of 1,108 statewide, top 51%, 267 students, 85% FRL); Carroll County Middle (math 54% / reading 72%, grade B+, #134 of 342 statewide, top 40%, 756 students, 84% FRL); Carroll County High (math 64% / reading 67%, grade B, #204 of 319 statewide, top 65%, 1,069 students, 81% FRL) — zoned schools average 83% FRL vs 48% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 18 active listings in the ZIP; 80 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $8k; list at $135k implies a 1700% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; 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?
• 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 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.
• 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.