3728 Redmond Ridge Rd

Henderson, WV 25515

$129,900C

5 bd · 2.0 ba · 1,361 sqft · Built 1941 · SingleFamily · Active · 240 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,269/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $185/mo
• Annual: $2,218/yr
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• 1% rule: 0.98%
• Cash to close: $36,372

Investor read

• This is a 5-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $185 ($2k/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 $127k (2.3% below list).
• It's been on market 240 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($898 loan paydown + $7k appreciation (5.3% local appreciation)).
• Location reads 56/100 on livability (#269 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Mason County Schools (town): math 20% / reading 33% proficiency, ranked #44 of 55 in WV (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 3 units permitted in Mason County in 2024 (0 in 5+ unit buildings).
• Mason County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $35k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 33% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1941 — 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 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?
• Crime grade is D 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.
• 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.