778 Macks Mountain Rd NW

Snowville, VA 24105

$99,900B

3 bd · 1.0 ba · 1,283 sqft · Built 1941 · SingleFamily · Pending · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $219/mo
• Annual: $2,634/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $27,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 166 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($691 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#507 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment F.
• Floyd County Public School District (rural): math 56% / reading 70% proficiency, ranked #51 of 131 in VA (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 69 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).
• Floyd County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $34k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.