311 W Avis Ave

Man, WV 25635

$124,900D

2 bd · 2.0 ba · 1,136 sqft · Built 1942 · SingleFamily · Pending · 170 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-92/mo
• Annual: $-1,099/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.86%
• DSCR: 0.96
• 1% rule: 0.80%
• Cash to close: $34,972

Investor read

• This is a 2-bed/2.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (19.9% below list).
• It's been on market 170 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (19.9% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($864 loan paydown + $6k appreciation (4.4% local appreciation)).
• Location reads 60/100 on livability (#219 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.
• Logan County Schools (rural): math 18% / reading 32% proficiency, ranked #48 of 55 in WV (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Man Elementary School (math 32% / reading 32%, grade F, #191 of 377 statewide, top 56%, 224 students, 0% FRL); Man Middle School (math 15% / reading 27%, grade F, #100 of 109 statewide, top 93%, 385 students, 0% FRL); Man Senior High School (math 17% / reading 37%, grade F, #79 of 110 statewide, top 78%, 348 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.
• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 1 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at -35% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood 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

• 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?
• It's been on market 170 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1942 — 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?
• 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 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?