8501 Old Elam Cemetary Rd

Charles City, VA 23030

$99,000B-

3 bd · 1.0 ba · 920 sqft · Built 1972 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,517/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$319
• Net cashflow: $593/mo
• Annual: $7,112/yr
• Cap rate: 13.48%
• Cash-on-cash: 25.66%
• DSCR: 2.14
• 1% rule: 1.53%
• Cash to close: $27,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#465 in VA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: amenities F, commute F, health & safety F.
• Charles City County Public School District (rural): math 24% / reading 56% proficiency, ranked #120 of 131 in VA (top 92%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 30 units permitted in Charles City County in 2024 (0 in 5+ unit buildings).
• Charles City County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Climate carrying-cost: major wind risk, 49% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1972 — 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.
• 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.