126 Harvey St

Fayetteville, WV 25840

$125,000C-

3 bd · 1.0 ba · 1,089 sqft · Built 1936 · SingleFamily · Active · 161 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,078/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $73/mo
• Annual: $879/yr
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• 1% rule: 0.86%
• Cash to close: $35,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $73 ($879/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 $108k (13.8% below list).
• It's been on market 161 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (13.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#164 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Fayette County Schools (suburban): math 17% / reading 31% proficiency, ranked #51 of 55 in WV (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fayetteville Pk-8 (math 14%, 587 students, 0% FRL); Oak Hill Middle School (math 14% / reading 26%, grade F, #104 of 109 statewide, top 96%, 656 students, 0% FRL); Oak Hill High (math 17% / reading 42%, grade F, #69 of 110 statewide, top 71%, 1,164 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 26 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 161 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1936 — 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.