605 Sheridan St

Glenville, WV 26351

$99,000B-

5 bd · 1.0 ba · 1,075 sqft · Built 1920 · SingleFamily · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,095/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $264/mo
• Annual: $3,166/yr
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• 1% rule: 1.11%
• Cash to close: $27,720

Investor read

• This is a 5-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• It's been on market 74 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($684 loan paydown + $1k appreciation (1.5% local appreciation)).
• Location reads 82/100 on livability (#7 in WV, #1,135 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D-, employment F.
• Gilmer County Schools (rural): math 25% / reading 39% proficiency, ranked #23 of 55 in WV (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gilmer County Elementary School (math 22% / reading 27%, grade F, #287 of 377 statewide, top 85%, 343 students, 0% FRL); Gilmer County High School (math 25% / reading 47%, grade F, #39 of 110 statewide, top 36%, 449 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 9 units permitted in Gilmer County in 2024 (0 in 5+ unit buildings).
• Gilmer County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are D-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.