21 Travellers Cir

Montross, VA 22520

$359,900C+

4 bd · 2.5 ba · 2,496 sqft · Built 1997 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,600/mo
• Mortgage (P&I): −$1,887
• Tax + insurance: −$359
• HOA: −$46
• Vac / Maint / Mgmt: −$756
• Net cashflow: $552/mo
• Annual: $6,624/yr
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• 1% rule: 1.00%
• Cash to close: $100,772

Investor read

• This is a 4-bed/2.5-bath single-family listed at $360k.
• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#353 in VA) — a middle-class / working-renter tenant base. Strengths: schools A-, housing A-, cost of living B+; Watch: employment D+, amenities F, commute F.
• Westmoreland County Public School District (rural): math 34% / reading 59% proficiency, ranked #105 of 131 in VA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 220 units permitted in Westmoreland County in 2024 (0 in 5+ unit buildings).
• Westmoreland County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $210k; list at $360k implies a 71% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 3.2% in Montross — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.