67 Montclair Dr

Coal Fork, WV 25311

$179,900C-

4 bd · 2.0 ba · 1,664 sqft · Built 1973 · MultiFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,723/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $222/mo
• Annual: $2,664/yr
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• 1% rule: 0.96%
• Cash to close: $50,372

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.
• At list price, monthly cash flow is $222 ($3k/yr) — positive. Per door: $111/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (4.2% below list).
• It's been on market 38 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (4.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#201 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment D, schools F, amenities F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 61 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $65k; list at $180k implies a 177% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1973 — 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?
• 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.