1092 Harveys Creek Rd

Hamlin, WV 25523

$46,800B

3 bd · 2.0 ba · 1,392 sqft · Built 1973 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,217/mo
• Mortgage (P&I): −$245
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $571/mo
• Annual: $6,857/yr
• Cap rate: 22.65%
• Cash-on-cash: 58.41%
• DSCR: 3.60
• 1% rule: 2.60%
• Cash to close: $13,104

Investor read

• This is a 3-bed/2.0-bath single-family listed at $47k. Condition is rated fair.
• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• It's been on market 23 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $324 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#52 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Putnam County Schools (suburban): math 40% / reading 50% proficiency, ranked #2 of 55 in WV (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 9 active listings in the ZIP; 111 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — 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.
• 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: roof — Signs of wear and discoloration suggest significant damage and potential water damage.
• Major: siding — Peeling and chipping paint indicate severe wear and need for replacement.
• Major: flooring — Visible signs of wear and discoloration suggest significant damage and need for replacement.
• Major: HVAC unit — The unit appears old and possibly in need of maintenance or replacement.
• Major: paint — The interior walls and paint show signs of wear and discoloration, indicating a need for repainting.
• Major: landscaping — The landscaping is sparse and lacks curb appeal, which could be improved with additional landscaping features.