315 High Street St

Fort Gay, WV 25514

$79,500C-

1 bd · 1.0 ba · 500 sqft · Built — · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $783/mo
• Mortgage (P&I): −$417
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$164
• Net cashflow: $69/mo
• Annual: $832/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• 1% rule: 0.99%
• Cash to close: $22,260

Investor read

• This is a 1-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $69 ($832/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 $78k (1.5% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $78k (1.5% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($550 loan paydown + $3k appreciation (3.6% local appreciation)).
• Location reads 53/100 on livability (#302 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: amenities F, commute F, employment F.
• Wayne County Schools (rural): math 25% / reading 38% proficiency, ranked #25 of 55 in WV (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fort Gay Pre K-8 (math 13% / reading 25%, grade F, #361 of 377 statewide, top 96%, 551 students, 0% FRL); Tolsia High School (math 8% / reading 32%, grade F, #101 of 110 statewide, top 94%, 367 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 19% at this address vs 32% district-wide (-12 pts) — the specific schools serving this property underperform the Wayne County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 14 active listings in the ZIP; 67 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Slight wear but still functional.
• Major: Bathroom shower and sink — Significant wear and need for replacement.
• Moderate: Exterior paint — Paint needs touch-up and fresh coat for curb appeal.