100 Parrish Cir

Wallace, WV 26448

$27,500B

2 bd · 1.0 ba · 1,008 sqft · Built 1900 · SingleFamily · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $935/mo
• Mortgage (P&I): −$144
• Tax + insurance: −$472
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $122/mo
• Annual: $1,461/yr
• Cap rate: 30.22%
• Cash-on-cash: 85.44%
• DSCR: 4.80
• 1% rule: 3.40%
• Cash to close: $7,700

Investor read

• This is a 2-bed/1.0-bath single-family listed at $28k. Condition is rated poor.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($935 rent vs $28k).
• It's been on market 106 days — a 9% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($190 loan paydown + $892 appreciation (3.2% local appreciation)).
• Location reads 55/100 on livability (#278 in WV) — a working-class tenant base; expect higher turnover. Strengths: employment A+, cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Harrison County Schools (town): math 29% / reading 43% proficiency, ranked #12 of 55 in WV (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Big Elm Elementary School (math 33% / reading 29%, grade F, #215 of 377 statewide, top 57%, 624 students, 0% FRL); Lincoln Middle School (math 20% / reading 43%, grade F, #52 of 109 statewide, top 49%, 444 students, 0% FRL); Lincoln High School (math 17% / reading 37%, grade F, #79 of 110 statewide, top 78%, 548 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1900 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — visible rust and deterioration
• Major: siding — peeling siding
• Major: exterior walls — exposed brick
• Major: kitchen cabinets — dated and worn
• Major: bathroom fixtures — dated and worn
• Major: flooring — worn carpet