2105 Walton Ave

Bluefield, WV 24701

$139,900D-

3 bd · 1.5 ba · 1,360 sqft · Built 1960 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,067/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $-23/mo
• Annual: $-281/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• 1% rule: 0.76%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.5-bath single-family listed at $140k.
• At list price, monthly cash flow is $-23 ($-281/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (23.8% below list).
• It's been on market 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (23.8% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($967 loan paydown + $5k appreciation (3.4% local appreciation)).
• Location reads 56/100 on livability (#265 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bluefield Intermediate School (math 24% / reading 34%, grade F, #258 of 377 statewide, top 68%, 289 students, 0% FRL); Bluefield Middle School (math 21% / reading 35%, grade F, #66 of 109 statewide, top 63%, 467 students, 0% FRL); Bluefield High School (math 22% / reading 47%, grade F, #42 of 110 statewide, top 47%, 608 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.
• Market conditions: 50 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 18y 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.
• Current owner paid $82k; list at $140k implies a 72% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.