180 Third Ave

Durbin, WV 26264

$139,900D

3 bd · 2.0 ba · 1,512 sqft · Built 2002 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,151/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-58/mo
• Annual: $-693/yr
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• 1% rule: 0.82%
• Cash to close: $39,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $140k. Condition is rated fair.
• At list price, monthly cash flow is $-58 ($-693/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (17.7% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $115k (17.7% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($967 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 68/100 on livability (#78 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, amenities F, employment F.
• Pocahontas County Schools (rural): math 31% / reading 39% proficiency, ranked #19 of 55 in WV (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Green Bank Elementary-Middle School (math 27% / reading 32%, grade F, #225 of 377 statewide, top 68%, 204 students, 0% FRL); Marlinton Middle School (math 27% / reading 42%, grade F, #34 of 109 statewide, top 31%, 133 students, 0% FRL); Pocahontas County High School (math 22% / reading 42%, grade F, #55 of 110 statewide, top 59%, 278 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 4 active listings in the ZIP; 2 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).
• Pocahontas County population projected at -18% 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 $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• 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 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?
• 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.
• 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: Paint — Paint is faded and peeling on exterior and interior walls.
• Major: Landscaping — Landscaping is overgrown and needs trimming.
• Moderate: Exterior siding — Siding shows signs of wear and needs repainting or replacement.
• Moderate: Interior paint — Paint is faded and peeling on interior walls and ceilings.
• Minor: Landscaping — Some overgrown areas need trimming and shrubs need pruning.