160 Irwin Rd

Pea Ridge, WV 25705

$279,000F

None bd · None ba · 1,920 sqft · Built 1989 · Townhouse · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-1,928/mo
• Annual: $-23,137/yr
• Cap rate: -2.00%
• Cash-on-cash: -29.62%
• DSCR: -0.32
• 1% rule: 0.00%
• Cash to close: $78,120

Investor read

• This is a townhouse listed at $279k. Condition is rated good.
• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• It's been on market 30 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $275k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#9 in WV, #1,254 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, commute F.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Altizer Elementary School (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 202 students, 0% FRL); Huntington East Middle School (math 18% / reading 32%, grade F, #81 of 109 statewide, top 76%, 585 students, 0% FRL); Huntington High School (math 26% / reading 50%, grade F, #31 of 110 statewide, top 28%, 1,704 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 164 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate -2.0% vs local median 4.4% in Pea Ridge — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — Worn and need updating.
• Minor: Bathroom fixtures — Dated and could be replaced for a fresh look.