1607 Bigley Ave

Charleston, WV 25302

$3,999,999F

None bd · None ba · 24,792 sqft · Built 1978 · Townhouse · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$20,976
• Tax + insurance: −$3,497
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-23,565/mo
• Annual: $-282,781/yr
• Cap rate: -0.76%
• Cash-on-cash: -25.18%
• DSCR: -0.12
• 1% rule: 0.03%
• Cash to close: $1,120,000

Investor read

• This is a townhouse listed at $4.00M. Condition is rated fair.
• At list price, monthly cash flow is $-24k ($-283k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (97.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (97.1% below list).
• It's been on market 69 days — a 6% lower offer ($3.76M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (97.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $28k of loan paydown is wiped out by about $120k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime 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.
• Zoned schools: Mary C. Snow West Side Elementary (math 12% / reading 12%, grade F, #375 of 377 statewide, top 99%, 353 students, 0% FRL); West Side Middle School (math 7% / reading 18%, grade F, #109 of 109 statewide, top 100%, 377 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 20% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Kanawha County Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 99 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.
• 9 sale attempts since 3y ago; this cycle's ask has dropped $250k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate -0.8% vs local median 3.8% in Charleston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 69 days. Have you received any prior offers? Is the seller open to a 97% 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 1978 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — No visible damage, but age is implied
• Major: HVAC/mechanicals — No visible systems, but age is implied