2684 Fish Hatchery Rd

Elizabeth, WV 26183

$67,500B

2 bd · 1.0 ba · 576 sqft · Built — · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,041/mo
• Mortgage (P&I): −$354
• Tax + insurance: −$238
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $231/mo
• Annual: $2,767/yr
• Cap rate: 12.62%
• Cash-on-cash: 22.59%
• DSCR: 2.01
• 1% rule: 1.54%
• Cash to close: $18,900

Investor read

• This is a 2-bed/1.0-bath single-family listed at $68k. Condition is rated fair.
• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($467 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#221 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety D, amenities F, commute F.
• Wirt County Schools (rural): math 35% / reading 39% proficiency, ranked #10 of 55 in WV (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wirt County Primary Center (math 42% / reading 37%, grade F, #108 of 377 statewide, top 33%, 338 students, 0% FRL); Wirt County Middle School (math 35% / reading 40%, grade F, #27 of 109 statewide, top 24%, 294 students, 0% FRL); Wirt County High School (math 15% / reading 44%, grade F, #66 of 110 statewide, top 61%, 295 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 1 active listings in the ZIP; 14 units permitted in Wirt County in 2024 (0 in 5+ unit buildings).
• Wirt County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $53k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear
• Major: roof — Metal roof appears aged
• Major: deck — Worn wooden deck
• Major: interior walls — Painted walls show wear