406 Grant St

Newell, WV 26050

$80,000A-

4 bd · 1.0 ba · 1,664 sqft · Built 1910 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,283/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $517/mo
• Annual: $6,208/yr
• Cap rate: 14.05%
• Cash-on-cash: 27.71%
• DSCR: 2.23
• 1% rule: 1.60%
• Cash to close: $22,400

Investor read

• This is a 4-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 23 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($553 loan paydown + $8k appreciation (9.8% local appreciation)).
• Location reads 60/100 on livability (#213 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety C-, schools F, amenities F.
• Hancock County Schools (urban): math 37% / reading 43% proficiency, ranked #7 of 55 in WV (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 15 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y ago 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.
• Current owner paid $16k; list at $80k implies a 385% gain — meaningful room to come down on a strong offer.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.