521 Long Fork Rd

Henlawson, WV 25547

$60,000B

2 bd · 1.0 ba · 780 sqft · Built 1955 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $843/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $185/mo
• Annual: $2,214/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.93%
• DSCR: 1.80
• 1% rule: 1.40%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k. Condition is rated poor.
• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($843 rent vs $60k).
• It's been on market 36 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.
• In year one you build about $5k of equity ($415 loan paydown + $4k appreciation (7.0% local appreciation)).
• Location reads 38/100 on livability (#383 in WV) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Logan County Schools (rural): math 18% / reading 32% proficiency, ranked #48 of 55 in WV (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chapmanville Intermediate School (math 13% / reading 21%, grade F, #363 of 377 statewide, top 97%, 306 students, 0% FRL); Chapmanville Middle School (math 13% / reading 38%, grade F, #75 of 109 statewide, top 73%, 524 students, 0% FRL); Chapmanville Regional High School (math 12% / reading 42%, grade F, #79 of 110 statewide, top 78%, 721 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 1 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 8→23/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 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1955 — 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — dated and in poor condition
• Major: kitchen flooring — checkered and worn-out
• Major: bathroom fixtures — outdated and in poor condition
• Major: exterior siding — weathered and boarded-up
• Major: interior walls — peeling paint and cluttered
• Major: roof — visible damage