1451 Hite Ave

Pleasant Valley, WV 26554

$80,000B-

2 bd · 1.0 ba · 1,016 sqft · Built 1920 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $969/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $258/mo
• Annual: $3,092/yr
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• 1% rule: 1.21%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($969 rent vs $80k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#13 in WV, #1,737 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Valley Elementary School (math 57% / reading 62%, grade B-, #15 of 377 statewide, top 5%, 172 students, 0% FRL); East Fairmont Middle School (math 31% / reading 43%, grade F, #28 of 109 statewide, top 27%, 723 students, 0% FRL); East Fairmont High School (math 27% / reading 52%, grade F, #21 of 110 statewide, top 26%, 689 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.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 151 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Current owner paid $50k; list at $80k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1920 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.