801 Harmony Rd

Auburn, WV 26456

$12,900C-

3 bd · 1.0 ba · 1,092 sqft · Built 1982 · SingleFamily · Pending · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,026/mo
• Mortgage (P&I): −$68
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $655/mo
• Annual: $7,861/yr
• Cap rate: 73.41%
• Cash-on-cash: 239.70%
• DSCR: 11.67
• 1% rule: 7.95%
• Cash to close: $3,612

Investor read

• This is a 3-bed/1.0-bath single-family listed at $13k.
• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $13k).
• It's been on market 107 days — a 9% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $12k (9.0% below list) — sets the bar for market timing.
• In year one you build about $812 of equity ($89 loan paydown + $723 appreciation (5.6% local appreciation)).
• Location reads 51/100 on livability (#317 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D+, amenities F.
• Doddridge County Schools (rural): math 26% / reading 41% proficiency, ranked #20 of 55 in WV (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Doddridge County Elementary School (math 37% / reading 32%, grade F, #148 of 377 statewide, top 49%, 300 students, 0% FRL); Doddridge County Middle School (math 23% / reading 45%, grade F, #36 of 109 statewide, top 35%, 328 students, 0% FRL); Doddridge County High School (math 22% / reading 42%, grade F, #55 of 110 statewide, top 59%, 327 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 6 active listings in the ZIP.
• Doddridge County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $34k (72%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.