42 Madison Ave

Corinne, WV 25826

$85,000C+

2 bd · 2.0 ba · 1,794 sqft · Built — · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,016/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $160/mo
• Annual: $1,916/yr
• Cap rate: 9.33%
• Cash-on-cash: 10.85%
• DSCR: 1.48
• 1% rule: 1.20%
• Cash to close: $23,800

Investor read

• This is a 2-bed/2.0-bath single-family listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 44/100 on livability (#355 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Wyoming County Schools (rural): math 20% / reading 38% proficiency, ranked #37 of 55 in WV (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mullens Elementary School (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 177 students, 0% FRL); Mullens Middle School (math 8% / reading 37%, grade F, #94 of 109 statewide, top 86%, 135 students, 0% FRL); Wyoming County East High School (math 17% / reading 37%, grade F, #79 of 110 statewide, top 78%, 473 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 3 active listings in the ZIP.
• Wyoming County population projected at -34% 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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)

• Major: Carpet — Severe wear
• Minor: Paint — Slight chipping