118 Lude Rd

South Charleston, WV 25309

$56,900B-

3 bd · 1.0 ba · 1,568 sqft · Built 1985 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,195/mo
• Mortgage (P&I): −$298
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $551/mo
• Annual: $6,611/yr
• Cap rate: 17.91%
• Cash-on-cash: 41.50%
• DSCR: 2.85
• 1% rule: 2.10%
• Cash to close: $15,932

Investor read

• This is a 3-bed/1.0-bath single-family listed at $57k. Condition is rated fair.
• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• It's been on market 17 days — a 2% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $393 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#58 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, 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: Ruthlawn Elementary School (math 47% / reading 37%, grade F, #87 of 377 statewide, top 28%, 226 students, 0% FRL); John Adams Middle School (math 45% / reading 63%, grade B-, #2 of 109 statewide, top 1%, 705 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.
• Zoned-school proficiency averages 48% at this address vs 34% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Kanawha County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 56 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 17.9% vs local median 4.8% in South Charleston — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Weathered and discolored, indicating significant wear.
• Major: Interior walls — Uneven paint and signs of wear, requiring repainting.
• Major: Flooring — Removed in multiple rooms, requiring new flooring.