3656 Charleston Rd

Raymond City, WV 25168

$60,000B

3 bd · 2.0 ba · 1,152 sqft · Built 1979 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,134/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $482/mo
• Annual: $5,778/yr
• Cap rate: 15.92%
• Cash-on-cash: 34.40%
• DSCR: 2.53
• 1% rule: 1.89%
• Cash to close: $16,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 21 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• In year one you build about $709 of equity ($415 loan paydown + $294 appreciation (0.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Putnam County Schools (suburban): math 40% / reading 50% proficiency, ranked #2 of 55 in WV (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Poca Elementary (math 27% / reading 27%, grade F, #261 of 377 statewide, top 75%, 286 students, 0% FRL); Poca Middle School (math 25% / reading 39%, grade F, #46 of 109 statewide, top 46%, 309 students, 0% FRL); Poca High School (math 17% / reading 47%, grade F, #55 of 110 statewide, top 59%, 446 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 30% at this address vs 45% district-wide (-15 pts) — the specific schools serving this property underperform the Putnam County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 10 active listings in the ZIP; 111 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• At projected returns (0.5% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1979 — 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — The siding is weathered and peeling, indicating significant damage.
• Major: roof — The independent aerial image suggests potential structural issues with the roof.
• Major: landscaping — The dirt path leading to the house indicates poor landscaping and potential erosion issues.