229 Wilson St

Paw Paw, WV 25434

$55,000B

2 bd · 1.0 ba · 896 sqft · Built 1960 · SingleFamily · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,031/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $471/mo
• Annual: $5,646/yr
• Cap rate: 16.56%
• Cash-on-cash: 36.66%
• DSCR: 2.63
• 1% rule: 1.88%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 19 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($380 loan paydown + $918 appreciation (1.7% local appreciation)).
• Location reads 60/100 on livability (#220 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D, amenities F.
• Morgan County Schools (rural): math 22% / reading 32% proficiency, ranked #43 of 55 in WV (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 26 active listings in the ZIP; 102 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• Morgan County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 8→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1960 — 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.
• 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.