136 Wiseman St

East Bank, WV 25067

$129,900D

4 bd · 2.0 ba · 1,568 sqft · Built 1980 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,213/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $61/mo
• Annual: $729/yr
• Cap rate: 6.85%
• Cash-on-cash: 2.00%
• DSCR: 1.09
• 1% rule: 0.93%
• Cash to close: $36,372

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $61 ($729/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 $121k (6.6% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $121k (6.6% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#110 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment C-, amenities F, commute F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pratt Elementary School (math 27% / reading 22%, grade F, #287 of 377 statewide, top 85%, 161 students, 0% FRL); Riverside High School (math 17% / reading 47%, grade F, #55 of 110 statewide, top 59%, 1,220 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.
• Market conditions: 5 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.