229 Carmel Ct

Burlington, WV 26852

$100,000D+

1 bd · 1.0 ba · 560 sqft · Built 2000 · SingleFamily · Active · 270 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $842/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$68
• HOA: −$10
• Vac / Maint / Mgmt: −$177
• Net cashflow: $63/mo
• Annual: $754/yr
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• 1% rule: 0.84%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $63 ($754/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 $84k (15.8% below list).
• It's been on market 270 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (15.8% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($691 loan paydown + $413 appreciation (0.4% local appreciation)).
• Location reads 65/100 on livability (#123 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: schools D+, amenities F, commute F.
• Hampshire County Schools (rural): math 25% / reading 38% proficiency, ranked #30 of 55 in WV (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 124 units permitted in Hampshire County in 2024 (0 in 5+ unit buildings).
• Hampshire County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $12k; list at $100k implies a 733% gain — meaningful room to come down on a strong offer.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 270 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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.