637 S Ruffner Rd

Charleston, WV 25314

$54,500B-

2 bd · 1.0 ba · 984 sqft · Built 1933 · SingleFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,001/mo
• Mortgage (P&I): −$286
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $354/mo
• Annual: $4,252/yr
• Cap rate: 15.56%
• Cash-on-cash: 33.09%
• DSCR: 2.47
• 1% rule: 1.84%
• Cash to close: $15,260

Investor read

• This is a 2-bed/1.0-bath single-family listed at $54k.
• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• It's been on market 94 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $377 of loan paydown is wiped out by about $2k 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: Holz Elementary School (math 72% / reading 77%, grade A, #4 of 377 statewide, top 1%, 278 students, 0% FRL); John Adams Middle School (math 45% / reading 63%, grade B-, #2 of 109 statewide, top 1%, 705 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 64% at this address vs 34% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Kanawha County Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 115 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 15.6% vs local median 3.8% in Charleston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1933 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.