6026 Pond Fork Rd

Madison, WV 25130

$36,010B+

3 bd · 1.0 ba · 2,005 sqft · Built 1959 · SingleFamily · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,240/mo
• Mortgage (P&I): −$189
• Tax + insurance: −$529
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $261/mo
• Annual: $3,136/yr
• Cap rate: 30.34%
• Cash-on-cash: 85.90%
• DSCR: 4.82
• 1% rule: 3.44%
• Cash to close: $10,083

Investor read

• This is a 3-bed/1.0-bath single-family listed at $36k.
• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 76 days — a 6% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $34k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($248 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#217 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment 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: Ramage Elementary (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 199 students, 0% FRL); Madison Middle School (math 18% / reading 30%, grade F, #89 of 109 statewide, top 82%, 442 students, 0% FRL); Sherman High School (math 17% / reading 32%, grade F, #91 of 110 statewide, top 85%, 339 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 $460/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 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.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $4k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1959 — 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 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.