1106 James St

Bluefield, WV 24701

$165,000D+

4 bd · 1.5 ba · 1,991 sqft · Built 1940 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,270/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $-13/mo
• Annual: $-152/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• 1% rule: 0.77%
• Cash to close: $46,200

Investor read

• This is a 4-bed/1.5-bath single-family listed at $165k.
• At list price, monthly cash flow is $-13 ($-152/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (23.0% below list).
• It's been on market 49 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (23.0% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.4% local appreciation)).
• Location reads 56/100 on livability (#265 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bluefield Primary School (346 students, 0% FRL); Bluefield Middle School (math 21% / reading 35%, grade F, #66 of 109 statewide, top 63%, 467 students, 0% FRL); Bluefield High School (math 22% / reading 47%, grade F, #42 of 110 statewide, top 47%, 608 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 active listings in the ZIP; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $64k; list at $165k implies a 157% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 30% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 49 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D 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.