609 Longview Ave

Bluefield, WV 24701

$59,900B

3 bd · 1.0 ba · 893 sqft · Built 1943 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $978/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $358/mo
• Annual: $4,300/yr
• Cap rate: 13.47%
• Cash-on-cash: 25.64%
• DSCR: 2.14
• 1% rule: 1.63%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $60k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($414 loan paydown + $2k appreciation (3.4% local appreciation)).
• Location reads 56/100 on livability (#265 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities 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: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $27k; list at $60k implies a 122% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 13.5% vs local median 5.2% in Bluefield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1943 — 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.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.