948 Victorian Dr

Clinchco, VA 24226

$109,500C+

2 bd · 1.0 ba · 1,008 sqft · Built 1998 · SingleFamily · Active · 358 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $930/mo
• Mortgage (P&I): −$574
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $85/mo
• Annual: $1,017/yr
• Cap rate: 7.22%
• Cash-on-cash: 3.32%
• DSCR: 1.15
• 1% rule: 0.85%
• Cash to close: $30,660

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (15.1% below list).
• It's been on market 358 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (15.1% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($757 loan paydown + $6k appreciation (5.2% local appreciation)).
• Location reads 51/100 on livability (#544 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D+, crime D, amenities F.
• Dickenson County Public School District (rural): math 59% / reading 66% proficiency, ranked #58 of 131 in VA (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sandlick Elementary (math 57% / reading 52%, grade C, #650 of 1,108 statewide, top 62%, 376 students, 91% FRL); Ridgeview Middle (math 57% / reading 72%, grade A-, #123 of 342 statewide, top 37%, 440 students, 89% FRL); Ridgeview High (math 62% / reading 72%, grade B, #185 of 319 statewide, top 61%, 592 students, 89% FRL) — zoned schools average 90% FRL vs 52% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 11 units permitted in Dickenson County in 2024 (0 in 5+ unit buildings).
• Dickenson County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y 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.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 358 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.