186 Kennedy St

Elkins, WV 26241

$129,900C-

4 bd · 3.5 ba · 3,550 sqft · Built 1970 · SingleFamily · Pending · 257 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,395/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $204/mo
• Annual: $2,451/yr
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• 1% rule: 1.07%
• Cash to close: $36,372

Investor read

• This is a 4-bed/3.5-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 257 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#34 in WV, #4,824 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Randolph County Schools (town): math 24% / reading 35% proficiency, ranked #33 of 55 in WV (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).
• Randolph County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $65k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.2% vs local median 3.7% in Elkins — 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

• It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Peeling paint and overgrown vegetation need attention.
• Major: kitchen cabinets — Old and outdated, need replacement or renovation.
• Major: interior walls — Paint peeling and need repainting.
• Major: landscaping — Overgrown vegetation needs trimming and landscaping improvements.
• Major: HVAC system — Not inspected, but likely outdated and in need of maintenance or replacement.