18 Friday Ln

St. Albans, WV 25177

$20,000D

3 bd · 1.5 ba · 1,232 sqft · Built 1973 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,162/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $709/mo
• Annual: $8,505/yr
• Cap rate: 52.80%
• Cash-on-cash: 166.11%
• DSCR: 8.39
• 1% rule: 5.81%
• Cash to close: $5,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $20k.
• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 16 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George C. Weimer Elementary School (math 15% / reading 15%, grade F, #367 of 377 statewide, top 98%, 137 students, 0% FRL); Mckinley Middle School (math 24% / reading 36%, grade F, #58 of 109 statewide, top 55%, 303 students, 0% FRL); Saint Albans High School (math 32% / reading 57%, grade F, #11 of 110 statewide, top 11%, 993 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 120 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• Kanawha County population projected at -17% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 52.8% vs local median 4.8% in St. Albans — 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

• Built in 1973 — 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.
• 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.