543 Gap View Dr

Coal Fork, WV 25306

$25,000C-

None bd · None ba · 3,000 sqft · Built 1930 · MultiFamily · Active · 172 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,020/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$844
• Net cashflow: $3,003/mo
• Annual: $36,036/yr
• Cap rate: 150.44%
• Cash-on-cash: 514.81%
• DSCR: 23.91
• 1% rule: 16.08%
• Cash to close: $7,000

Investor read

• This is a multifamily listed at $25k.
• At list price, monthly cash flow is $3k ($36k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $25k).
• It's been on market 172 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($173 loan paydown + $997 appreciation (4.0% local appreciation)).
• Location reads 61/100 on livability (#201 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment D, amenities F, commute F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Malden Elementary School (math 22% / reading 17%, grade F, #350 of 377 statewide, top 95%, 152 students, 0% FRL); Riverside High School (math 17% / reading 47%, grade F, #55 of 110 statewide, top 59%, 1,220 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.6%/yr); 24 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.0% appreciation + 7.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• At $4,020/mo this rent would consume 67% of the median local household income ($72k/yr) (locally 124% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.