2784 Matoaka Rd

Lashmeet, WV 24747

$59,000B

4 bd · 1.0 ba · 1,527 sqft · Built 1954 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,266/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $592/mo
• Annual: $7,110/yr
• Cap rate: 18.34%
• Cash-on-cash: 43.04%
• DSCR: 2.91
• 1% rule: 2.15%
• Cash to close: $16,520

Investor read

• This is a 4-bed/1.0-bath single-family listed at $59k. Condition is rated fair.
• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 34 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($408 loan paydown + $2k appreciation (3.2% local appreciation)).
• Location reads 57/100 on livability (#254 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spanishburg (math 27% / reading 37%, grade F, #191 of 377 statewide, top 56%, 181 students, 0% FRL); Pikeview Middle School (math 23% / reading 42%, grade F, #43 of 109 statewide, top 41%, 568 students, 0% FRL); Pikeview High School (math 22% / reading 37%, grade F, #69 of 110 statewide, top 71%, 630 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1954 — 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.
• 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.
• 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)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding shows signs of wear and tear, and the paint appears faded.
• Major: flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
• Major: interior walls — The interior walls show signs of wear and tear, with peeling paint and visible damage.
• Major: bathroom — The bathroom appears to be in poor condition, with visible wear and tear and outdated fixtures.
• Major: exterior fencing — The exterior fencing appears to be in poor condition, with visible wear and tear.