2300 Lot 6 7th St

Moundsville, WV 26041

$38,500B-

2 bd · 2.0 ba · 900 sqft · Built 2005 · Manufactured · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $824/mo
• Mortgage (P&I): −$202
• Tax + insurance: −$131
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $318/mo
• Annual: $3,820/yr
• Cap rate: 18.29%
• Cash-on-cash: 42.83%
• DSCR: 2.91
• 1% rule: 2.14%
• Cash to close: $10,780

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $38k.
• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($824 rent vs $38k).
• It's been on market 156 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $266 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#105 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety A-; Watch: schools D+, amenities F, commute F.
• Marshall County Schools (suburban): math 28% / reading 36% proficiency, ranked #21 of 55 in WV (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 78 active listings in the ZIP; 6 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at -19% 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 $11k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.3% vs local median 4.7% in Moundsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent is only 18% of the median local income ($56k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 D-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.