2620 A L Philpott Hwy

Chatmoss, VA 24054

$29,950B+

3 bd · 1.0 ba · 800 sqft · Built 1960 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $955/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$26
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $572/mo
• Annual: $6,861/yr
• Cap rate: 29.20%
• Cash-on-cash: 81.81%
• DSCR: 4.64
• 1% rule: 3.19%
• Cash to close: $8,386

Investor read

• This is a 3-bed/1.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $30k).
• It's been on market 23 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($208 loan paydown + $852 appreciation (2.8% local appreciation)).
• Location reads 65/100 on livability (#340 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Henry County Public School District (rural): math 45% / reading 69% proficiency, ranked #78 of 131 in VA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Axton Elementary (math 37% / reading 62%, grade D, #742 of 1,108 statewide, top 70%, 364 students, 91% FRL); Laurel Park Middle (math 57% / reading 79%, grade A-, #94 of 342 statewide, top 28%, 786 students, 99% FRL); Magna Vista High (math 49% / reading 80%, grade B-, #213 of 319 statewide, top 69%, 1,104 students, 98% FRL) — zoned schools average 96% FRL vs 62% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 33 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 29.2% vs local median 3.1% in Chatmoss — 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

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.