1087 Circle Dr

Idamay, WV 26576

$17,900C-

3 bd · 1.0 ba · 783 sqft · Built 1979 · SingleFamily · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $906/mo
• Mortgage (P&I): −$94
• Tax + insurance: −$30
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $592/mo
• Annual: $7,101/yr
• Cap rate: 45.97%
• Cash-on-cash: 141.69%
• DSCR: 7.30
• 1% rule: 5.06%
• Cash to close: $5,012

Investor read

• This is a 3-bed/1.0-bath single-family listed at $18k.
• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($906 rent vs $18k).
• It's been on market 105 days — a 9% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (9.0% below list) — sets the bar for market timing.
• In year one you build about $659 of equity ($124 loan paydown + $535 appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#61 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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 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.