384 Nancy Jack Rd

Inwood, WV 25420

$210,000D

3 bd · 1.0 ba · 800 sqft · Built 1978 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,625/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$253
• HOA: −$25
• Vac / Maint / Mgmt: −$341
• Net cashflow: $-96/mo
• Annual: $-1,147/yr
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• 1% rule: 0.77%
• Cash to close: $58,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (22.6% below list).
• It's been on market 48 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (22.6% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.1% local appreciation)).
• Location reads 64/100 on livability (#143 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D-, amenities F, commute F.
• Berkeley County Schools (other): math 21% / reading 38% proficiency, ranked #24 of 55 in WV (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 13 sale attempts since 23y ago; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.7% vs local median 3.7% in Inwood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.