10908 River Front Rd

Chattaroy, WV 41514

$39,000B

3 bd · 2.0 ba · 2,240 sqft · Built 1993 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,172/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $656/mo
• Annual: $7,876/yr
• Cap rate: 26.49%
• Cash-on-cash: 72.13%
• DSCR: 4.21
• 1% rule: 3.01%
• Cash to close: $10,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $39k.
• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• It's been on market 22 days — a 2% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (1.5% below list) — sets the bar for market timing.
• In year one you build about $682 of equity ($270 loan paydown + $412 appreciation (1.1% local appreciation)).
• Location reads 61/100 on livability (#193 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Martin County (rural): math 15% / reading 31% proficiency, ranked #155 of 165 in KY (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Martin County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 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.