119 Radio Station Ln

Bath (Berkeley Springs), WV 25411

$124,999C

2 bd · 1.0 ba · 972 sqft · Built 1962 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,212/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $157/mo
• Annual: $1,884/yr
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• 1% rule: 0.97%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $157 ($2k/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 $121k (3.0% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $121k (3.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.9%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Morgan County Schools (rural): math 22% / reading 32% proficiency, ranked #43 of 55 in WV (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 102 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• Morgan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 7.8% vs local median 2.5% in Bath (Berkeley Springs) — 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 1962 — 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.