188 Saipan Ave

Stanaford, WV 25801

$135,000C+

3 bd · 1.5 ba · 1,232 sqft · Built 1960 · SingleFamily · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,323/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $230/mo
• Annual: $2,762/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• 1% rule: 0.98%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $135k.
• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (2.0% below list).
• It's been on market 175 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#233 in WV) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Raleigh County Schools (rural): math 29% / reading 42% proficiency, ranked #14 of 55 in WV (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stanaford Elementary School (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 233 students, 0% FRL); Beckley-Stratton Middle School (math 14% / reading 27%, grade F, #102 of 109 statewide, top 94%, 674 students, 0% FRL); Woodrow Wilson High School (math 24% / reading 56%, grade F, #20 of 110 statewide, top 17%, 1,330 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 112 active listings in the ZIP; 41 units permitted in Raleigh County in 2024 (0 in 5+ unit buildings).
• Raleigh County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $135k implies a 440% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.