81 Pine Cir

Elkins, WV 26241

$172,500D

3 bd · 1.0 ba · 1,712 sqft · Built 1969 · SingleFamily · Active · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,141/mo
• Mortgage (P&I): −$905
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$240
• Net cashflow: $-104/mo
• Annual: $-1,252/yr
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• 1% rule: 0.66%
• Cash to close: $48,300

Investor read

• This is a 3-bed/1.0-bath single-family listed at $172k.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (33.9% below list).
• It's been on market 153 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (33.9% 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 74/100 on livability (#34 in WV, #4,824 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Randolph County Schools (town): math 24% / reading 35% proficiency, ranked #33 of 55 in WV (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).
• Randolph County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.6% vs local median 3.7% in Elkins — 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

• 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 153 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
• Built in 1969 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.