360&384 Rogers Ln

Cloverdale, VA 24077

$315,000F

1 bd · 1.0 ba · 999 sqft · Built 1957 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,553/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$326
• Net cashflow: $-630/mo
• Annual: $-7,563/yr
• Cap rate: 3.89%
• Cash-on-cash: -8.58%
• DSCR: 0.62
• 1% rule: 0.49%
• Cash to close: $88,200

Investor read

• This is a 1-bed/1.0-bath single-family listed at $315k.
• At list price, monthly cash flow is $-630 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (35.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (50.7% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $155k (50.7% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.6% local appreciation)).
• Location reads 66/100 on livability (#325 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: employment C-, amenities F, commute F.
• Botetourt County Public School District (rural): math 76% / reading 82% proficiency, ranked #6 of 131 in VA (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Cloverdale Elementary (math 77% / reading 87%, grade A+, #106 of 1,108 statewide, top 11%, 249 students, 33% FRL); Read Mountain Middle (math 75% / reading 82%, grade A+, #32 of 342 statewide, top 9%, 657 students, 35% FRL); Lord Botetourt High (math 83% / reading 92%, grade A, #15 of 319 statewide, top 4%, 980 students, 27% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 116 units permitted in Botetourt County in 2024 (0 in 5+ unit buildings).
• Botetourt County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.9% vs local median 2.9% in Cloverdale — 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?
• Built in 1957 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.