1008 Lorton Lick Rd

Bluewell, WV 24701

$86,000B

2 bd · 1.0 ba · 1,159 sqft · Built 1940 · SingleFamily · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $971/mo
• Mortgage (P&I): −$451
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $180/mo
• Annual: $2,158/yr
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• 1% rule: 1.13%
• Cash to close: $24,080

Investor read

• This is a 2-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $86k).
• It's been on market 181 days — a 12% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $76k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($595 loan paydown + $3k appreciation (3.4% local appreciation)).
• Location reads 54/100 on livability (#285 in WV) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $10k; list at $86k implies a 719% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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.