2990 Whites Chapel Rd

Phenix, VA 23959

$125,000B

5 bd · 2.0 ba · 3,520 sqft · Built 2022 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,530/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$321
• Net cashflow: $345/mo
• Annual: $4,141/yr
• Cap rate: 9.61%
• Cash-on-cash: 11.83%
• DSCR: 1.53
• 1% rule: 1.22%
• Cash to close: $35,000

Investor read

• This is a 5-bed/2.0-bath single-family listed at $125k. Condition is rated good.
• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.6% local appreciation)).
• Location reads 64/100 on livability (#360 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B+, housing B+; Watch: health & safety C-, crime D+, amenities F.
• Charlotte County Public School District (rural): math 51% / reading 72% proficiency, ranked #59 of 131 in VA (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Phenix Elementary (math 52% / reading 72%, grade B, #480 of 1,108 statewide, top 46%, 226 students, 87% FRL); Central Middle (math 49% / reading 69%, grade B, #166 of 342 statewide, top 50%, 370 students, 85% FRL); Randolph-Henry High (math 47% / reading 82%, grade B-, #213 of 319 statewide, top 69%, 478 students, 84% FRL) — zoned schools average 85% FRL vs 48% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Charlotte County in 2024 (0 in 5+ unit buildings).
• Charlotte County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/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.
• Schools are A-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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: roof — No visible damage
• Minor: exterior — No visible damage
• Minor: flooring — No visible damage
• Minor: interior walls/paint — No visible damage
• Minor: HVAC/mechanicals — No visible damage
• Minor: landscaping/curb appeal — Well-maintained