153 River St

Grantsville, WV 26147

$39,900B+

4 bd · 2.0 ba · 1,671 sqft · Built 1950 · SingleFamily · Pending · 149 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$209
• Tax + insurance: −$527
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $274/mo
• Annual: $3,286/yr
• Cap rate: 28.38%
• Cash-on-cash: 78.87%
• DSCR: 4.51
• 1% rule: 3.20%
• Cash to close: $11,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 149 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($276 loan paydown + $2k appreciation (4.7% local appreciation)).
• Location reads 63/100 on livability (#162 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities F, commute F, employment F.
• Calhoun County Schools (rural): math 18% / reading 34% proficiency, ranked #46 of 55 in WV (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pleasant Hill School (math 24% / reading 34%, grade F, #225 of 377 statewide, top 68%, 176 students, 0% FRL); Calhoun Middle/High School (math 11% / reading 34%, grade F, #96 of 110 statewide, top 87%, 524 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $460/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Calhoun County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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

• It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• 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.