52 W 6th Ave

Huntington, WV 25701

$49,900D+

4 bd · 4.0 ba · 2,995 sqft · Built 1924 · MultiFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,345/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$492
• Net cashflow: $1,444/mo
• Annual: $17,324/yr
• Cap rate: 41.01%
• Cash-on-cash: 123.99%
• DSCR: 6.52
• 1% rule: 4.70%
• Cash to close: $13,972

Investor read

• This is a 4-bed/4.0-bath multifamily listed at $50k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#16 in WV, #2,045 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F, employment F.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.0% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.6%/yr); 127 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• Current owner paid $10k; list at $50k implies a 399% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 41.0% vs local median 6.5% in Huntington — 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.
• At $2,345/mo this rent would consume 50% of the median local household income ($56k/yr) (locally 1186% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.