214 Kincaid St

Prosperity, WV 25909

$55,500B

2 bd · 1.0 ba · 1,040 sqft · Built 1980 · SingleFamily · Active · 199 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$291
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $388/mo
• Annual: $4,658/yr
• Cap rate: 14.69%
• Cash-on-cash: 29.98%
• DSCR: 2.33
• 1% rule: 1.76%
• Cash to close: $15,540

Investor read

• This is a 2-bed/1.0-bath single-family listed at $56k.
• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $56k).
• It's been on market 199 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($384 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#185 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Raleigh County Schools (rural): math 29% / reading 42% proficiency, ranked #14 of 55 in WV (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cranberry-Prosperity Elementary (math 27% / reading 32%, grade F, #225 of 377 statewide, top 68%, 257 students, 0% FRL); Beckley-Stratton Middle School (math 14% / reading 27%, grade F, #102 of 109 statewide, top 94%, 674 students, 0% FRL); Woodrow Wilson High School (math 24% / reading 56%, grade F, #20 of 110 statewide, top 17%, 1,330 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 1 active listings in the ZIP; 41 units permitted in Raleigh County in 2024 (0 in 5+ unit buildings).
• Raleigh County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $22k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.