2554 Simpson

Flemington, WV 26347

$115,000D

2 bd · 1.0 ba · 884 sqft · Built 1875 · SingleFamily · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $869/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $9/mo
• Annual: $110/yr
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• 1% rule: 0.76%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $9 ($110/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 $87k (24.5% below list).
• It's been on market 139 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (24.5% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($795 loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads 63/100 on livability (#170 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Taylor County Schools (town): math 27% / reading 36% proficiency, ranked #22 of 55 in WV (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Flemington Elementary School (math 24% / reading 15%, grade F, #341 of 377 statewide, top 93%, 122 students, 0% FRL); Taylor County Middle School (math 22% / reading 34%, grade F, #66 of 109 statewide, top 63%, 685 students, 0% FRL); Grafton High School (math 17% / reading 47%, grade F, #55 of 110 statewide, top 59%, 620 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP.
• Taylor County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $39k; list at $115k implies a 193% gain — meaningful room to come down on a strong offer.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1875 — 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 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?
• 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.