212 Top Of The World

Cass, WV 26209

$102,500D-

1 bd · 1.0 ba · 482 sqft · Built — · Condo · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $805/mo
• Mortgage (P&I): −$538
• Tax + insurance: −$171
• HOA: −$34
• Vac / Maint / Mgmt: −$169
• Net cashflow: $-107/mo
• Annual: $-1,279/yr
• Cap rate: 5.05%
• Cash-on-cash: -4.46%
• DSCR: 0.80
• 1% rule: 0.79%
• Cash to close: $28,700

Investor read

• This is a 1-bed/1.0-bath condo listed at $102k.
• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (21.5% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $80k (21.5% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($709 loan paydown + $7k appreciation (6.4% local appreciation)).
• Location reads 46/100 on livability (#351 in WV) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living A; Watch: schools F, amenities F, employment F.
• Pocahontas County Schools (rural): math 31% / reading 39% proficiency, ranked #19 of 55 in WV (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 118 active listings in the ZIP; 2 units permitted in Pocahontas County in 2024 (0 in 5+ unit buildings).
• Pocahontas County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.