157 Township Rd 1207

Lesage, WV 45669

$120,000C

3 bd · 2.0 ba · 1,040 sqft · Built 2002 · SingleFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,032/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$207
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $-21/mo
• Annual: $-247/yr
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• 1% rule: 0.86%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-21 ($-247/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (14.0% below list).
• It's been on market 63 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (14.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.8%/yr); year-one equity from $830 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#184 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute F.
• Fairland Local (suburban): math 63% / reading 73% proficiency, ranked #177 of 656 in OH (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fairland East Elementary School (346 students, 43% FRL); Fairland Middle School (math 61% / reading 74%, grade A-, #161 of 654 statewide, top 25%, 342 students, 37% FRL); Fairland High School (math 32% / reading 67%, grade D, #390 of 781 statewide, top 54%, 391 students, 49% FRL) — zoned schools at 43% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 18 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 2.5% in Lesage — 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

• 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 63 days. Have you received any prior offers? Is the seller open to a 14% 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?
• 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?
• 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.