5 Lytle

Gassaway, WV 26623

$79,000B

3 bd · 2.0 ba · 1,958 sqft · Built 1961 · SingleFamily · Active · 355 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,143/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $414/mo
• Annual: $4,973/yr
• Cap rate: 12.59%
• Cash-on-cash: 22.48%
• DSCR: 2.00
• 1% rule: 1.45%
• Cash to close: $22,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 355 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($546 loan paydown + $2k appreciation (2.9% local appreciation)).
• Location reads 73/100 on livability (#39 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Braxton County Schools (rural): math 16% / reading 32% proficiency, ranked #52 of 55 in WV (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Frametown Elementary School (math 44% / reading 44%, grade F, #71 of 377 statewide, top 22%, 151 students, 0% FRL); Braxton County Middle School (math 9% / reading 30%, grade F, #106 of 109 statewide, top 97%, 383 students, 0% FRL); Braxton County High School (math 17% / reading 52%, grade F, #42 of 110 statewide, top 47%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Braxton County in 2024 (0 in 5+ unit buildings).
• Braxton County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 355 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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?
• 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.