7045 State Route 218

Apple Grove, WV 45631

$99,900B-

3 bd · 1.0 ba · 1,231 sqft · Built 1900 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,265/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $345/mo
• Annual: $4,142/yr
• Cap rate: 10.44%
• Cash-on-cash: 14.81%
• DSCR: 1.66
• 1% rule: 1.27%
• Cash to close: $27,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 58 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#169 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, health & safety F.
• Gallia County Local (rural): math 37% / reading 49% proficiency, ranked #521 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hannan Trace Elementary School (math 37% / reading 37%, grade F, #1,087 of 1,584 statewide, top 70%, 254 students, 0% FRL); South Gallia Middle School (math 37% / reading 57%, grade D+, #451 of 654 statewide, top 70%, 114 students, 0% FRL); South Gallia High School (math 24% / reading 44%, grade F, #582 of 781 statewide, top 76%, 142 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 10 units permitted in Gallia County in 2024 (0 in 5+ unit buildings).
• Gallia County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.