2212 Third Ave

East Bank, WV 25067

$9,900D+

3 bd · 2.0 ba · 2,180 sqft · Built 1934 · SingleFamily · Active · 178 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,235/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $841/mo
• Annual: $10,093/yr
• Cap rate: 116.30%
• Cash-on-cash: 392.88%
• DSCR: 18.48
• 1% rule: 12.48%
• Cash to close: $2,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $841 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 178 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• In year one you build about $365 of equity ($68 loan paydown + $297 appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#110 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment C-, schools F, amenities F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1934 — 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 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?
• 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.