1290 Evansview Rd

Ripley, WV 25241

$119,000D

1 bd · 1.0 ba · 1,120 sqft · Built 2000 · SingleFamily · Active · 572 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $978/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $-116/mo
• Annual: $-1,390/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• 1% rule: 0.82%
• Cash to close: $33,320

Investor read

• This is a 1-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (17.8% below list).
• It's been on market 572 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (17.8% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($823 loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads 74/100 on livability (#35 in WV, #4,915 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities D, commute F, employment D-.
• Jackson County Schools (town): math 38% / reading 45% proficiency, ranked #4 of 55 in WV (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evans Elementary School (math 82% / reading 77%, grade A, #3 of 377 statewide, top 1%, 137 students, 0% FRL); Ripley Middle School (math 27% / reading 47%, grade F, #28 of 109 statewide, top 27%, 613 students, 0% FRL); Ripley High School (math 22% / reading 47%, grade F, #42 of 110 statewide, top 47%, 812 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 13 active listings in the ZIP; 1 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 2.7% in Ripley — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 572 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?
• 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.