358 Smith Creek Rd

Blacksville, WV 15362

$89,000B

3 bd · 2.0 ba · 2,892 sqft · Built 1940 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,279/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$325
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $219/mo
• Annual: $2,624/yr
• Cap rate: 9.99%
• Cash-on-cash: 13.20%
• DSCR: 1.59
• 1% rule: 1.44%
• Cash to close: $24,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 18 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 58/100 on livability (#244 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment D, schools F, amenities F.
• Central Greene SD (town): math 24% / reading 40% proficiency, ranked #434 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.1% of price; flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 30 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.