645 Westview Ave

Huntington, WV 25701

$172,400F

3 bd · 1.5 ba · 1,612 sqft · Built 1959 · SingleFamily · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,335/mo
• Mortgage (P&I): −$904
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $-31/mo
• Annual: $-374/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• 1% rule: 0.77%
• Cash to close: $48,272

Investor read

• This is a 3-bed/1.5-bath single-family listed at $172k.
• At list price, monthly cash flow is $-31 ($-374/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (22.6% below list).
• It's been on market 31 days — a 3% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (22.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#16 in WV, #2,045 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment 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: Central City Elementary School (math 22% / reading 22%, grade F, #324 of 377 statewide, top 89%, 407 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.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.6%/yr); 127 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).

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 31 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.