301 East St

Middlebourne, WV 26149

$225,000B+

None bd · None ba · 6,564 sqft · Built 1895 · MultiFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,153/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$375
• HOA: −$0
• Vac / Maint / Mgmt: −$1,292
• Net cashflow: $3,306/mo
• Annual: $39,671/yr
• Cap rate: 23.92%
• Cash-on-cash: 62.97%
• DSCR: 3.80
• 1% rule: 2.73%
• Cash to close: $63,000

Investor read

• This is a 4×2bd/1ba + 2×1bd/1ba + 1×3bd/1ba units multifamily listed at $225k. Condition is rated fair.
• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $472/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $225k).
• It's been on market 63 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (5.0% local appreciation)).
• Location reads 64/100 on livability (#153 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety C-, schools F.
• Tyler County Schools (rural): math 31% / reading 39% proficiency, ranked #18 of 55 in WV (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Tyler County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1895 — 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 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?

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — dated and in need of replacement
• Major: bathroom fixtures — outdated and in need of replacement
• Major: kitchen countertops — dated and in need of replacement
• Major: kitchen appliances — outdated and in need of replacement
• Minor: paint — faded and could be refreshed