764 Fudges Creek Rd

Barboursville, WV 25545

$119,900C-

3 bd · 2.0 ba · 1,206 sqft · Built 1960 · SingleFamily · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,159/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $87/mo
• Annual: $1,042/yr
• Cap rate: 7.16%
• Cash-on-cash: 3.10%
• DSCR: 1.14
• 1% rule: 0.97%
• Cash to close: $33,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k. Condition is rated fair.
• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (3.4% below list).
• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (3.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($829 loan paydown + $3k appreciation (2.4% local appreciation)).
• Location reads 82/100 on livability (#8 in WV, #1,207 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ona Elementary School (math 42% / reading 47%, grade F, #71 of 377 statewide, top 22%, 266 students, 0% FRL); Milton Middle School (math 34% / reading 45%, grade F, #20 of 109 statewide, top 18%, 570 students, 0% FRL); Cabell Midland High School (math 25% / reading 56%, grade F, #19 of 110 statewide, top 17%, 1,757 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.2% vs local median 3.6% in Barboursville — 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 42 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 — Significant wear and tear
• Major: exterior paint — Peeling and chipping
• Major: concrete driveway — Cracks and deterioration