5298 Leivasy Rd · Nettie, WV 26676

$17,900

2 bd · 1.0 ba · 1,100 sqft · SingleFamily · 343 Days on market

Built 1943 ↓ 36% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• Appreciation +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

Key facts

• Long frontage
• Cinderblock garage
• Brushy meadow creek

Tags

• CINDERBLOCK GARAGE
• LONG FRONTAGE
• BRUSHY MEADOW CREEK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($951 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#301 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Nicholas County Schools (rural): math 23% / reading 34% proficiency, ranked #38 of 55 in WV (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 2 units permitted in Nicholas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($124 loan paydown + $2k appreciation (9.1% local appreciation)).
• Nicholas County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 343 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 343 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 5.31% ✓
• Cap rate: 48.36%
• Cash-on-cash: 150.23%
• DSCR: 7.68
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.13×
• Total profit: $40,738
• Equity at exit: $14,966

10-year hold

• IRR: —
• Equity multiple: 19.91×
• Total profit: $94,763
• Equity at exit: $31,116

Cash invested: $5,012 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State West Virginia: 83 Strongly Landlord-Friendly · R+22
• County: — inherits STATE
• City: — inherits STATE

Landlord-favorable; preempted; minimal protections.

Methodology + full state rankings →

ZIP-level market 26676

• Home prices YoY: 5.5%
• Active inventory: 3
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$94
• Tax est. 1.5%: −$22 /mo · $268/yr
• Insurance: −$7
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $502

Break-even live

Break-even rent $315

Max offer price $17,900

Occupancy floor 42%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $4,475
• Closing costs: $537
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $17,900 Active 343 DOM
2. 2026-06-17
   days on market $17,900 Active 342 DOM
3. 2026-06-16
   days on market $17,900 Active 341 DOM
4. 2026-06-15
   days on market $17,900 Active 340 DOM
5. 2026-06-15
   days on market $17,900 Active 339 DOM
6. 2026-06-13
   days on market $17,900 Active 338 DOM
7. 2026-06-12
   days on market $17,900 Active 337 DOM
8. 2026-06-09
   days on market $17,900 Active 334 DOM
9. 2026-06-08
   days on market $17,900 Active 333 DOM
10. 2026-06-08
    days on market $17,900 Active 332 DOM
11. 2026-06-07
    days on market $17,900 Active 331 DOM
12. 2026-06-04
    days on market $17,900 Active 329 DOM
13. 2026-06-03
    days on market $17,900 Active 328 DOM
14. 2026-06-02
    days on market $17,900 Active 327 DOM
15. 2026-06-01
    days on market $17,900 Active 326 DOM
16. 2026-05-31
    days on market $17,900 Active 325 DOM
17. 2026-04-30
    price $17,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

18. 2026-03-21
    price $19,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

19. 2026-02-13
    price $20,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

20. 2026-01-01
    price $21,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

21. 2025-12-09
    price $22,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

22. 2025-11-09
    price $24,900 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

23. 2025-08-26
    price $26,000 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

24. 2025-07-10
    listed $28,000 Active 137-char remark

    Show marketing remark (137 chars)

    Leivasy, Nicholas County, WV 2 bedroom 1 bath home, with cinderblock garage, needs work, long frontage on beautiful Brushy Meadow Creek.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,410
• − Mortgage interest: −$1,003
• − Property taxes: −$268
• − Insurance: −$1,592
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$521
• Taxable income: $6,200
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $4,539/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Nicholas County Schools
• NCES district ID: 5401020
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $38,510
• Composite: 23.82/100
• National rank: #7808
• State rank: #38 of 55 in WV

Livability — Nettie

• Score: 53/100
• State rank: #301
• US rank: #24432

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing F Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 205

Population outlook (Nicholas County) Hauer SSP2

• Today (2025): 23,901 people
• By 2030: 22,736 · -4.9%
• By 2040: 20,345 · -14.9%
• By 2050: 18,161 · -24.0%
• By 2075: 13,762 · -42.4%
• By 2100: 9,924 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Serbian 9%

Political lean MEDSL · Nicholas

• 2024 margin: Solid R (+60.2) · D 19.1% · R 79.3% · Other 1.6%
• 2008→2024 swing: -55.4pp toward R · 2008: -4.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.9 2016: R+57.0 2012: R+36.8 2008: R+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.10%
• Current HPI: 174.3195
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-36.1% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $17,900 GVBOR
• 2026-03-21 Price Changed $19,900 GVBOR
• 2026-02-13 Price Changed $20,900 GVBOR
• 2026-01-01 Price Changed $21,900 GVBOR
• 2025-12-09 Price Changed $22,900 GVBOR
• 2025-11-09 Price Changed $24,900 GVBOR
• 2025-08-26 Price Changed $26,000 GVBOR
• 2025-07-10 Listed $28,000 GVBOR