218 Oak St

New Haven, WV 25253

$89,000B+

3 bd · 1.0 ba · 1,272 sqft · Built 1960 · SingleFamily · Pending · 148 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,140/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $285/mo
• Annual: $3,423/yr
• Cap rate: 10.14%
• Cash-on-cash: 13.73%
• DSCR: 1.61
• 1% rule: 1.28%
• Cash to close: $24,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $89k. Condition is rated fair.
• At list price, monthly cash flow is $285 ($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 148 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#111 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Mason County Schools (town): math 20% / reading 33% proficiency, ranked #44 of 55 in WV (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 3 units permitted in Mason County in 2024 (0 in 5+ unit buildings).
• Mason County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen appliances — Old and worn
• Major: Bathroom fixtures — Worn and outdated
• Moderate: Exterior siding — Weathered and in need of repainting