4384 Auto Rd

Falling Spring, WV 24966

$112,000D+

2 bd · 1.0 ba · 1,037 sqft · Built 2001 · Other · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $965/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$127
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $48/mo
• Annual: $576/yr
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• 1% rule: 0.86%
• Cash to close: $31,360

Investor read

• This is a 2-bed/1.0-bath other listed at $112k.
• At list price, monthly cash flow is $48 ($576/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 $97k (13.8% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $97k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($774 loan paydown + $4k appreciation (3.4% local appreciation)).
• Location reads 56/100 on livability (#266 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• Greenbrier County Schools (town): math 24% / reading 37% proficiency, ranked #31 of 55 in WV (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frankford Elementary (math 37% / reading 47%, grade F, #87 of 377 statewide, top 28%, 214 students, 0% FRL); Eastern Greenbrier Middle School (math 14% / reading 36%, grade F, #81 of 109 statewide, top 76%, 732 students, 0% FRL); Greenbrier West High School (math 17% / reading 37%, grade F, #79 of 110 statewide, top 78%, 404 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 16 active listings in the ZIP; 74 units permitted in Greenbrier County in 2024 (0 in 5+ unit buildings).
• Greenbrier County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 2y 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.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.
• 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.