129 Spruce St

White Sulphur Springs, WV 24986

$89,900B

2 bd · 2.0 ba · 1,162 sqft · Built 1947 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,012/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $178/mo
• Annual: $2,135/yr
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• 1% rule: 1.13%
• Cash to close: $25,172

Investor read

• This is a 2-bed/2.0-bath single-family listed at $90k. Condition is rated fair.
• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (5.0% local appreciation)).
• Location reads 63/100 on livability (#175 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.
• 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.
• Zoned schools: White Sulphur Elementary (math 37% / reading 32%, grade F, #148 of 377 statewide, top 49%, 337 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 53 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 (5.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1947 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Severe weathering and staining.
• Major: Landscaping — Overgrown and unkempt appearance.
• Unknown: HVAC/mechanical systems — No photos provided to assess condition.
• Unknown: Interior walls/paint — No photos provided to assess condition.
• Unknown: Kitchen and bathrooms — No photos provided to assess condition.
• Unknown: Foundation/structure — No photos provided to assess condition.