2415 Ohio St

Moundsville, WV 26041

$109,000C-

3 bd · 1.5 ba · 2,160 sqft · Built 1920 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,026/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $2/mo
• Annual: $24/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $30,520

Investor read

• This is a 3-bed/1.5-bath single-family listed at $109k.
• At list price, monthly cash flow is $2 ($24/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (5.8% below list).
• It's been on market 112 days — a 9% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#105 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety A-; Watch: amenities F, commute F, employment F.
• Marshall County Schools (suburban): math 28% / reading 36% proficiency, ranked #21 of 55 in WV (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mcninch Primary School (340 students, 0% FRL); Moundsville Middle School (math 16% / reading 27%, grade F, #97 of 109 statewide, top 91%, 409 students, 0% FRL); John Marshall High School (math 22% / reading 49%, grade F, #41 of 110 statewide, top 37%, 1,046 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 78 active listings in the ZIP; 6 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 4.7% in Moundsville — 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

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.