855 Main St

Follansbee, WV 26037

$59,000B

2 bd · 2.0 ba · — sqft · Built 1920 · MultiFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,408/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $728/mo
• Annual: $8,741/yr
• Cap rate: 21.11%
• Cash-on-cash: 52.91%
• DSCR: 3.35
• 1% rule: 2.39%
• Cash to close: $16,520

Investor read

• This is a 2-bed/2.0-bath multifamily listed at $59k.
• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $206 of equity ($408 loan paydown + $-202 appreciation (-0.3% local appreciation)).
• Location reads 72/100 on livability (#49 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, cost of living A+; Watch: schools D+, amenities F, employment D-.
• Brooke County Schools (rural): math 26% / reading 35% proficiency, ranked #26 of 55 in WV (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2 units permitted in Brooke County in 2024 (0 in 5+ unit buildings).
• Brooke County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.