603 Utah Ln

Chester, WV 26034

$48,900B+

1 bd · 1.0 ba · 550 sqft · Built 1900 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $765/mo
• Mortgage (P&I): −$256
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$161
• Net cashflow: $288/mo
• Annual: $3,453/yr
• Cap rate: 13.35%
• Cash-on-cash: 25.22%
• DSCR: 2.12
• 1% rule: 1.56%
• Cash to close: $13,692

Investor read

• This is a 1-bed/1.0-bath single-family listed at $49k.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($765 rent vs $49k).
• It's been on market 102 days — a 9% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($338 loan paydown + $1k appreciation (2.5% local appreciation)).
• Location reads 73/100 on livability (#36 in WV, #5,000 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Hancock County Schools (urban): math 37% / reading 43% proficiency, ranked #7 of 55 in WV (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 15 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $6k; list at $49k implies a 789% gain — meaningful room to come down on a strong offer.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.