9104 Maryland Ave

Marmet, WV 25315

$59,900A-

2 bd · 1.0 ba · 825 sqft · Built 1940 · SingleFamily · Pending · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $860/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $231/mo
• Annual: $2,771/yr
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• 1% rule: 1.44%
• Cash to close: $16,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $60k).
• It's been on market 54 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.2%/yr); year-one equity from $414 of loan paydown is wiped out by about $709 of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#68 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chesapeake Elementary School (math 24% / reading 24%, grade F, #287 of 377 statewide, top 85%, 115 students, 0% FRL); East Bank Middle School (math 21% / reading 29%, grade F, #81 of 109 statewide, top 76%, 254 students, 0% FRL); Riverside High School (math 17% / reading 47%, grade F, #55 of 110 statewide, top 59%, 1,220 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: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.