472 Carline Ave

Tazewell, VA 24651

$122,000C-

3 bd · 2.0 ba · 1,512 sqft · Built 2001 · Manufactured · Active · 230 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$640
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-7/mo
• Annual: $-83/yr
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• 1% rule: 0.82%
• Cash to close: $34,160

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $122k.
• At list price, monthly cash flow is $-7 ($-83/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (18.0% below list).
• It's been on market 230 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (18.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#458 in VA) — a middle-class / working-renter tenant base. Strengths: schools A+, cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Tazewell County Public School District (town): math 67% / reading 78% proficiency, ranked #21 of 131 in VA (top 16%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).
• Tazewell County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 4.7% in Tazewell — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 230 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?
• 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.