822 Hood Ave

Shinnston, WV 26431

$165,000C-

3 bd · 1.0 ba · 1,953 sqft · Built 1946 · SingleFamily · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-91/mo
• Annual: $-1,093/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• 1% rule: 0.77%
• Cash to close: $46,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (22.6% below list).
• It's been on market 16 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (22.6% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 80/100 on livability (#12 in WV, #1,712 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F.
• Harrison County Schools (town): math 29% / reading 43% proficiency, ranked #12 of 55 in WV (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Big Elm Elementary School (math 33% / reading 29%, grade F, #215 of 377 statewide, top 57%, 624 students, 0% FRL); Lincoln Middle School (math 20% / reading 43%, grade F, #52 of 109 statewide, top 49%, 444 students, 0% FRL); Lincoln High School (math 17% / reading 37%, grade F, #79 of 110 statewide, top 78%, 548 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.