524 27th Street West

Huntington, WV 25704

$259,900B-

6 bd · 4.0 ba · 2,580 sqft · Built 1959 · MultiFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,400/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$244
• HOA: −$0
• Vac / Maint / Mgmt: −$714
• Net cashflow: $1,079/mo
• Annual: $12,953/yr
• Cap rate: 11.28%
• Cash-on-cash: 17.80%
• DSCR: 1.79
• 1% rule: 1.31%
• Cash to close: $72,772

Investor read

• This is a 4 × 1.0-bed/1.0-bath units multifamily listed at $260k.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $270/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• It's been on market 88 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#16 in WV, #2,045 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F, employment F.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• 2 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 (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.3% vs local median 6.5% in Huntington — 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

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1959 — 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.
• Crime grade is F 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.