1405 Center St

Moundsville, WV 26041

$83,800B-

3 bd · 1.0 ba · 1,968 sqft · Built 1900 · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,034/mo
• Mortgage (P&I): −$439
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $303/mo
• Annual: $3,633/yr
• Cap rate: 10.63%
• Cash-on-cash: 15.48%
• DSCR: 1.69
• 1% rule: 1.23%
• Cash to close: $23,464

Investor read

• This is a 3-bed/1.0-bath single-family listed at $84k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• It's been on market 72 days — a 6% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $579 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#105 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety A-; Watch: amenities F, commute F, employment F.
• Marshall County Schools (suburban): math 28% / reading 36% proficiency, ranked #21 of 55 in WV (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 28% / reading 32%, grade F, #218 of 377 statewide, top 59%, 279 students, 0% FRL); Moundsville Middle School (math 16% / reading 27%, grade F, #97 of 109 statewide, top 91%, 409 students, 0% FRL); John Marshall High School (math 22% / reading 49%, grade F, #41 of 110 statewide, top 37%, 1,046 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 78 active listings in the ZIP; 6 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.6% vs local median 4.7% in Moundsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• Schools are D-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.