12027 Chap Rd

Twilight, WV 25204

$37,000B

3 bd · 1.0 ba · 1,188 sqft · Built 1957 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,031/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$530
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $90/mo
• Annual: $1,083/yr
• Cap rate: 24.15%
• Cash-on-cash: 63.78%
• DSCR: 3.84
• 1% rule: 2.79%
• Cash to close: $10,360

Investor read

• This is a 3-bed/1.0-bath single-family listed at $37k.
• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $37k).
• It's been on market 29 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($256 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 30/100 on livability (#396 in WV) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Boone County Schools (rural): math 26% / reading 36% proficiency, ranked #26 of 55 in WV (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Elementary (math 24% / reading 24%, grade F, #287 of 377 statewide, top 85%, 155 students, 0% FRL); Van Junior Senior High School (math 22% / reading 37%, grade F, #69 of 110 statewide, top 71%, 177 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 $460/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 4 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• Boone County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 13y 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 $25k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1957 — 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?
• 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.
• 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.