1578 Buffalo Rd

Chattaroy, WV 25661

$68,000B

2 bd · 1.0 ba · 1,200 sqft · Built 1990 · SingleFamily · Active · 169 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,012/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$540
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $-97/mo
• Annual: $-1,161/yr
• Cap rate: 12.11%
• Cash-on-cash: 20.79%
• DSCR: 1.92
• 1% rule: 1.49%
• Cash to close: $19,040

Investor read

• This is a 2-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (20.6% below list).
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 169 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (20.6% below list) — sets the bar for cash-flow.
• In year one you build about $2k of equity ($470 loan paydown + $2k appreciation (2.7% local appreciation)).
• Location reads 61/100 on livability (#193 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Mingo County Schools (rural): math 21% / reading 36% proficiency, ranked #42 of 55 in WV (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Williamson Pk8 (math 26% / reading 41%, grade F, #189 of 377 statewide, top 50%, 527 students, 0% FRL); Mingo Central Comprehensive High School (math 12% / reading 32%, grade F, #97 of 110 statewide, top 90%, 635 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 19 active listings in the ZIP.
• Mingo County population projected at -37% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 169 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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?
• 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.