2920 Mcclellan Hwy

Harts, WV 25557

$59,900B-

3 bd · 2.0 ba · 1,200 sqft · Built 1985 · Manufactured · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,026/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $397/mo
• Annual: $4,759/yr
• Cap rate: 14.24%
• Cash-on-cash: 28.37%
• DSCR: 2.26
• 1% rule: 1.71%
• Cash to close: $16,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 154 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 50/100 on livability (#329 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Lincoln County Schools (rural): math 17% / reading 28% proficiency, ranked #54 of 55 in WV (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ranger Elementary (math 15% / reading 24%, grade F, #341 of 377 statewide, top 93%, 76 students, 0% FRL); Guyan Valley Middle (math 9% / reading 28%, grade F, #107 of 109 statewide, top 98%, 235 students, 0% FRL); Lincoln County High School (math 12% / reading 42%, grade F, #79 of 110 statewide, top 78%, 852 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 12 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.