445 Main St

Benwood, WV 26031

$89,000B

3 bd · 1.0 ba · 1,618 sqft · Built 1900 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,187/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$522
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $-51/mo
• Annual: $-607/yr
• Cap rate: 11.82%
• Cash-on-cash: 19.74%
• DSCR: 1.88
• 1% rule: 1.33%
• 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 $-51 ($-607/yr) — negative.
• To cash-flow at today's rent, offer at most $80k (10.0% below list).
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 19 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (10.0% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($615 loan paydown + $3k appreciation (3.8% local appreciation)).
• Location reads 64/100 on livability (#145 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marshall County Schools (suburban): math 28% / reading 36% proficiency, ranked #21 of 55 in WV (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Center Mcmechen Elementary School (math 42% / reading 42%, grade F, #87 of 377 statewide, top 28%, 197 students, 0% FRL); Sherrard Middle School (math 27% / reading 43%, grade F, #33 of 109 statewide, top 30%, 454 students, 0% FRL); John Marshall High School (math 22% / reading 49%, grade F, #41 of 110 statewide, top 37%, 1,046 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 6 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $89k implies a 62% gain — meaningful room to come down on a strong offer.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1900 — 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?
• 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.