629 Leslie Subdivision Rd

Quinwood, WV 25972

$6,500D+

2 bd · 1.0 ba · 800 sqft · Built 1980 · SingleFamily · Active · 369 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $842/mo
• Mortgage (P&I): −$34
• Tax + insurance: −$11
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $620/mo
• Annual: $7,438/yr
• Cap rate: 120.73%
• Cash-on-cash: 408.70%
• DSCR: 19.18
• 1% rule: 12.95%
• Cash to close: $1,820

Investor read

• This is a 2-bed/1.0-bath single-family listed at $6k.
• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $6k).
• It's been on market 369 days — a 12% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $6k (12.0% below list) — sets the bar for market timing.
• In year one you build about $240 of equity ($45 loan paydown + $195 appreciation (3.0% local appreciation)).
• Location reads 40/100 on livability (#379 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Greenbrier County Schools (town): math 24% / reading 37% proficiency, ranked #31 of 55 in WV (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 74 units permitted in Greenbrier County in 2024 (0 in 5+ unit buildings).
• Greenbrier County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 369 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.