1436 Glen Ray Rd

Alderson, WV 24910

$119,900D

1 bd · 1.0 ba · 1,350 sqft · Built 1909 · SingleFamily · Active · 216 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $-43/mo
• Annual: $-515/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.53%
• DSCR: 0.93
• 1% rule: 0.83%
• Cash to close: $33,572

Investor read

• This is a 1-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-43 ($-515/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (17.1% below list).
• It's been on market 216 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (17.1% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($829 loan paydown + $3k appreciation (2.1% local appreciation)).
• Location reads 62/100 on livability (#177 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: commute D, schools F, amenities F.
• Summers County Schools (town): math 18% / reading 32% proficiency, ranked #49 of 55 in WV (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 41 active listings in the ZIP; 19 units permitted in Summers County in 2024 (0 in 5+ unit buildings).
• Summers County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 216 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1909 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.