189 Grove

Reedsville, WV 26547

$70,000B+

3 bd · 2.0 ba · 1,360 sqft · Built 1980 · SingleFamily · Active · 317 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,101/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $386/mo
• Annual: $4,633/yr
• Cap rate: 12.91%
• Cash-on-cash: 23.64%
• DSCR: 2.05
• 1% rule: 1.57%
• Cash to close: $19,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 317 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($484 loan paydown + $4k appreciation (5.3% local appreciation)).
• Location reads 64/100 on livability (#152 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Preston County Schools (rural): math 22% / reading 33% proficiency, ranked #39 of 55 in WV (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Preston School (math 16% / reading 24%, grade F, #338 of 377 statewide, top 90%, 656 students, 0% FRL); Central Preston Middle School (math 19% / reading 42%, grade F, #57 of 109 statewide, top 52%, 322 students, 0% FRL); Preston High School (math 10% / reading 32%, grade F, #100 of 110 statewide, top 91%, 1,178 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 2 units permitted in Preston County in 2024 (0 in 5+ unit buildings).
• Preston County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $69k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, 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 317 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.