1224 Dry Run Rd

Burlington, WV 26710

$59,000B

3 bd · 1.0 ba · 963 sqft · Built 1900 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,177/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $455/mo
• Annual: $5,464/yr
• Cap rate: 16.91%
• Cash-on-cash: 37.90%
• DSCR: 2.69
• 1% rule: 1.99%
• Cash to close: $16,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $59k. Condition is rated fair.
• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 47 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($408 loan paydown + $823 appreciation (1.4% local appreciation)).
• Location reads 65/100 on livability (#123 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, health & safety F.
• Mineral County Schools (rural): math 26% / reading 34% proficiency, ranked #32 of 55 in WV (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burlington Primary (math 24% / reading 34%, grade F, #225 of 377 statewide, top 68%, 102 students, 0% FRL); Keyser Middle School (math 18% / reading 31%, grade F, #84 of 109 statewide, top 81%, 719 students, 0% FRL); Keyser High School (math 27% / reading 42%, grade F, #42 of 110 statewide, top 47%, 671 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 64 units permitted in Mineral County in 2024 (0 in 5+ unit buildings).
• Mineral County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 47 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 1900 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: porch floor — Worn and uneven
• Major: interior walls — Worn wood paneling