8451 Mccomas Rd

Salt Rock, WV 25559

$150,000D-

4 bd · 1.5 ba · 1,213 sqft · Built 1973 · Manufactured · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,153/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$306
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-181/mo
• Annual: $-2,178/yr
• Cap rate: 5.29%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• 1% rule: 0.77%
• Cash to close: $42,000

Investor read

• This is a 4-bed/1.5-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (23.2% below list).
• It's been on market 66 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (23.2% below list) — sets the bar for 1% rule.
• In year one you build about $770 of equity ($1k loan paydown + $-267 appreciation (-0.2% local appreciation)).
• Location reads 53/100 on livability (#304 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: employment D+, 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.
• Zoned schools: Salt Rock Elementary School (math 52% / reading 52%, grade C-, #39 of 377 statewide, top 12%, 225 students, 0% FRL); Cabell Midland High School (math 25% / reading 56%, grade F, #19 of 110 statewide, top 17%, 1,757 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 6 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask is 50% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: severe flood 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?
• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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?