16298 Deepwater Mountain Rd

Deep Water, WV 25057

$75,500B+

3 bd · 1.0 ba · 1,392 sqft · Built 1910 · SingleFamily · Active · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,101/mo
• Mortgage (P&I): −$396
• Tax + insurance: −$181
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $292/mo
• Annual: $3,508/yr
• Cap rate: 11.82%
• Cash-on-cash: 19.75%
• DSCR: 1.88
• 1% rule: 1.46%
• Cash to close: $21,140

Investor read

• This is a 3-bed/1.0-bath single-family listed at $76k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• It's been on market 180 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($522 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 54/100 on livability (#293 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Fayette County Schools (suburban): math 17% / reading 31% proficiency, ranked #51 of 55 in WV (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Valley Pk-8 (math 13%, 530 students, 0% FRL); Oak Hill High (math 17% / reading 42%, grade F, #69 of 110 statewide, top 71%, 1,164 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 26 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).
• Fayette County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $76k implies a 344% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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.
• 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?
• 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.