122 Carolina Ave

Chester, WV 26034

$95,000C-

3 bd · 1.5 ba · 1,456 sqft · Built 1900 · SingleFamily · Active · 315 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $712/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$150
• Net cashflow: $-17/mo
• Annual: $-204/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• 1% rule: 0.75%
• Cash to close: $26,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $95k.
• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $71k (25.0% below list).
• It's been on market 315 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $71k (25.0% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($657 loan paydown + $2k appreciation (2.5% local appreciation)).
• Location reads 73/100 on livability (#36 in WV, #5,000 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Hancock County Schools (urban): math 37% / reading 43% proficiency, ranked #7 of 55 in WV (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 315 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 D-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.