818 Pocahontas Ave

Ronceverte, WV 24970

$142,900D-

3 bd · 1.5 ba · 968 sqft · Built 2004 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $950/mo
• Mortgage (P&I): −$749
• Tax + insurance: −$140
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $-139/mo
• Annual: $-1,670/yr
• Cap rate: 5.12%
• Cash-on-cash: -4.17%
• DSCR: 0.81
• 1% rule: 0.66%
• Cash to close: $40,012

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $143k.
• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (33.5% below list).
• It's been on market 22 days — a 2% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (33.5% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($988 loan paydown + $11k appreciation (7.6% local appreciation)).
• Location reads 65/100 on livability (#119 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Greenbrier County Schools (town): math 24% / reading 37% proficiency, ranked #31 of 55 in WV (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ronceverte Elementary (math 22% / reading 27%, grade F, #287 of 377 statewide, top 85%, 401 students, 0% FRL); Eastern Greenbrier Middle School (math 14% / reading 36%, grade F, #81 of 109 statewide, top 76%, 732 students, 0% FRL); Greenbrier East High School (math 21% / reading 51%, grade F, #39 of 110 statewide, top 36%, 1,014 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 23 active listings in the ZIP; 74 units permitted in Greenbrier County in 2024 (0 in 5+ unit buildings).
• Greenbrier County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $95k; list at $143k implies a 50% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$41k 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?
• 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?
• 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.