19 Lee Cir

Hurricane, WV 25526

$82,500B

3 bd · 2.0 ba · 1,100 sqft · Built 1994 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,398/mo
• Mortgage (P&I): −$433
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $612/mo
• Annual: $7,339/yr
• Cap rate: 15.19%
• Cash-on-cash: 31.77%
• DSCR: 2.41
• 1% rule: 1.69%
• Cash to close: $23,100

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $82k.
• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#47 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Putnam County Schools (suburban): math 40% / reading 50% proficiency, ranked #2 of 55 in WV (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hurricane Town Elementary (math 42% / reading 42%, grade F, #87 of 377 statewide, top 28%, 299 students, 0% FRL); Hurricane Middle (math 44% / reading 50%, grade D+, #6 of 109 statewide, top 6%, 849 students, 0% FRL); Hurricane High School (math 38% / reading 62%, grade D+, #6 of 110 statewide, top 5%, 1,256 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 119 active listings in the ZIP; solid renter incomes; 111 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.2% vs local median 4.0% in Hurricane — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.