71 Merrill Ave

Rivesville, WV 26588

$22,500D+

3 bd · 1.0 ba · 1,016 sqft · Built 1919 · SingleFamily · Active · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $973/mo
• Mortgage (P&I): −$118
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $547/mo
• Annual: $6,562/yr
• Cap rate: 39.00%
• Cash-on-cash: 116.82%
• DSCR: 6.20
• 1% rule: 4.33%
• Cash to close: $6,300

Investor read

• This is a 3-bed/1.0-bath single-family listed at $22k. Condition is rated poor.
• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($973 rent vs $22k).
• It's been on market 107 days — a 9% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (9.0% below list) — sets the bar for market timing.
• In year one you build about $856 of equity ($156 loan paydown + $700 appreciation (3.1% local appreciation)).
• Location reads 65/100 on livability (#124 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D+, schools F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.1% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 8→21/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 107 days. Have you received any prior offers? Is the seller open to a 9% 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 1919 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and damage to the exterior siding.
• Major: landscaping — Overgrown and unkempt yard needs trimming and planting.
• Major: fencing — Basic chain-link fence in need of repair or replacement.
• Major: interior walls — Worn wallpaper and outdated fixtures need replacement.
• Major: bathroom — Small, outdated bathroom with peeling paint and basic fixtures needs renovation.
• Major: kitchen — Basic kitchen with outdated appliances and cabinets needs renovation.