23336 Pond Fork Rd

Van, WV 25028

$29,500B+

2 bd · 1.0 ba · 960 sqft · Built 1950 · SingleFamily · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $880/mo
• Mortgage (P&I): −$155
• Tax + insurance: −$444
• HOA: −$0
• Vac / Maint / Mgmt: −$185
• Net cashflow: $97/mo
• Annual: $1,160/yr
• Cap rate: 27.58%
• Cash-on-cash: 76.01%
• DSCR: 4.38
• 1% rule: 2.98%
• Cash to close: $8,260

Investor read

• This is a 2-bed/1.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $30k).
• It's been on market 196 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($204 loan paydown + $1k appreciation (4.8% local appreciation)).
• Location reads 64/100 on livability (#149 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, housing F.
• Boone County Schools (rural): math 26% / reading 36% proficiency, ranked #26 of 55 in WV (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Elementary (math 24% / reading 24%, grade F, #287 of 377 statewide, top 85%, 155 students, 0% FRL); Van Junior Senior High School (math 22% / reading 37%, grade F, #69 of 110 statewide, top 71%, 177 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 4 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• Boone County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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

• It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.