603 Odell Town Rd

Nettie, WV 26681

$17,900D+

2 bd · 1.0 ba · 800 sqft · Built 1954 · SingleFamily · Active · 347 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $842/mo
• Mortgage (P&I): −$94
• Tax + insurance: −$30
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $541/mo
• Annual: $6,498/yr
• Cap rate: 42.59%
• Cash-on-cash: 129.64%
• DSCR: 6.77
• 1% rule: 4.70%
• Cash to close: $5,012

Investor read

• This is a 2-bed/1.0-bath single-family listed at $18k. Condition is rated poor.
• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $18k).
• It's been on market 347 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($124 loan paydown + $1k appreciation (6.3% local appreciation)).
• Location reads 53/100 on livability (#301 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Nicholas County Schools (rural): math 23% / reading 34% proficiency, ranked #38 of 55 in WV (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Panther Creek Elementary School (math 47% / reading 42%, grade F, #71 of 377 statewide, top 22%, 245 students, 0% FRL); Richwood Middle School (math 13% / reading 36%, grade F, #84 of 109 statewide, top 81%, 229 students, 0% FRL); Richwood High School (math 12% / reading 27%, grade F, #104 of 110 statewide, top 96%, 340 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.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 2 units permitted in Nicholas County in 2024 (0 in 5+ unit buildings).
• Nicholas County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 347 days. Have you received any prior offers? Is the seller open to a 12% 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and damage
• Major: roof — Exposed roof structure and missing shingles
• Major: flooring — Worn-out carpet and exposed subfloor
• Major: interior walls — Damaged ceiling and cluttered rooms
• Major: systems — No visible systems, potential electrical and plumbing issues