66 Red Oak Dr

Culloden, WV 25510

$189,900F

3 bd · 1.0 ba · 1,248 sqft · Built 1970 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,347/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $-73/mo
• Annual: $-878/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• 1% rule: 0.71%
• Cash to close: $53,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-73 ($-878/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (29.1% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $135k (29.1% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $576 appreciation (0.3% local appreciation)).
• Location reads 69/100 on livability (#71 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• Current owner paid $164k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1970 — 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.
• 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.