14 White Lamb Ln

Elkins, WV 26241

$35,900B-

3 bd · 2.0 ba · 768 sqft · Built 1945 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $915/mo
• Mortgage (P&I): −$188
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $408/mo
• Annual: $4,896/yr
• Cap rate: 22.15%
• Cash-on-cash: 56.64%
• DSCR: 3.52
• 1% rule: 2.55%
• Cash to close: $10,052

Investor read

• This is a 3-bed/2.0-bath single-family listed at $36k. Condition is rated poor.
• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($915 rent vs $36k).
• It's been on market 112 days — a 9% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $33k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $248 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#34 in WV, #4,824 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Randolph County Schools (town): math 24% / reading 35% proficiency, ranked #33 of 55 in WV (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $66/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 85 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).
• Randolph County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $9k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — 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 22.2% vs local median 3.7% in Elkins — 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 112 days. Have you received any prior offers? Is the seller open to a 9% 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 1945 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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: broken windows — Structural damage
• Major: disassembled kitchen and bath — Structural damage
• Major: exposed flooring — Structural damage