3418 Central Ave

Farmington, WV 26571

$89,000B+

3 bd · 1.0 ba · 1,400 sqft · Built 1908 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,112/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $275/mo
• Annual: $3,299/yr
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• 1% rule: 1.25%
• Cash to close: $24,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 52 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($615 loan paydown + $3k appreciation (3.7% local appreciation)).
• Location reads 66/100 on livability (#107 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety C-, amenities F, commute F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blackshere Elementary School (math 22% / reading 22%, grade F, #324 of 377 statewide, top 89%, 333 students, 0% FRL); Mannington Middle School (math 24% / reading 31%, grade F, #70 of 109 statewide, top 65%, 251 students, 0% FRL); North Marion High School (math 27% / reading 47%, grade F, #32 of 110 statewide, top 34%, 738 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.
• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1908 — 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 D-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.