144 F 12th St

Barboursville, WV 25705

$19,900D

2 bd · 2.0 ba · 896 sqft · Built 2000 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,635/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$508
• HOA: −$0
• Vac / Maint / Mgmt: −$343
• Net cashflow: $679/mo
• Annual: $8,150/yr
• Cap rate: 72.97%
• Cash-on-cash: 238.12%
• DSCR: 11.60
• 1% rule: 8.22%
• Cash to close: $5,572

Investor read

• This is a 2-bed/2.0-bath single-family listed at $20k.
• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#8 in WV, #1,207 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 4.4% of price; flood insurance adds $427/mo.
• Market conditions: 163 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 73.0% vs local median 3.6% in Barboursville — 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

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.