920 Coulters Chapel Rd

Union, WV 24951

$110,000C+

3 bd · 2.0 ba · 1,390 sqft · Built 1997 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,164/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $168/mo
• Annual: $2,010/yr
• Cap rate: 8.85%
• Cash-on-cash: 9.12%
• DSCR: 1.41
• 1% rule: 1.06%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 40 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (2.5% local appreciation)).
• Location reads 58/100 on livability (#243 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+, crime B; Watch: amenities F, commute F, employment F.
• Monroe County Schools (rural): math 27% / reading 35% proficiency, ranked #29 of 55 in WV (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peterstown Elementary School (math 22% / reading 27%, grade F, #287 of 377 statewide, top 85%, 388 students, 0% FRL); Peterstown Middle School (math 24% / reading 40%, grade F, #46 of 109 statewide, top 46%, 317 students, 0% FRL); James Monroe High School (math 22% / reading 47%, grade F, #42 of 110 statewide, top 47%, 464 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 11 active listings in the ZIP.
• Monroe County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $12k; list at $110k implies a 802% gain — meaningful room to come down on a strong offer.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, 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 — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 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.