5298 Leivasy Rd

Nettie, WV 26676

$17,900C-

2 bd · 1.0 ba · 1,100 sqft · Built 1943 · SingleFamily · Active · 345 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $951/mo
• Mortgage (P&I): −$94
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $502/mo
• Annual: $6,027/yr
• Cap rate: 48.36%
• Cash-on-cash: 150.23%
• DSCR: 7.68
• 1% rule: 5.31%
• Cash to close: $5,012

Investor read

• This is a 2-bed/1.0-bath single-family listed at $18k.
• 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).
• It's been on market 345 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($124 loan paydown + $2k appreciation (9.1% local appreciation)).
• 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.
• Watch-outs: flood insurance adds $125/mo; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 2 units permitted in Nicholas County in 2024 (0 in 5+ unit buildings).
• 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.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 345 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1943 — 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.
• 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?
• 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.