290 Short Mountain Dr

Augusta, WV 26704

$69,000B

2 bd · 1.5 ba · 1,264 sqft · Built 1974 · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,203/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$54
• HOA: −$13
• Vac / Maint / Mgmt: −$253
• Net cashflow: $522/mo
• Annual: $6,265/yr
• Cap rate: 15.37%
• Cash-on-cash: 32.43%
• DSCR: 2.44
• 1% rule: 1.74%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.5-bath single-family listed at $69k.
• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 42 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($477 loan paydown + $777 appreciation (1.1% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hampshire County Schools (rural): math 25% / reading 38% proficiency, ranked #30 of 55 in WV (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 124 units permitted in Hampshire County in 2024 (0 in 5+ unit buildings).
• Hampshire County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.