Investing in Wayne County
Wayne County covers 2 rental markets we actively finance in West Virginia — Ceredo, Kenova. Across those markets the median investment basis averages $125,000, a long-term lease averages $1,125/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $809. That produces a county-wide average DSCR ratio near 1.39x.
Basis varies more inside Wayne County than the average suggests. Ceredo is the lowest entry point at roughly $125,000, while Ceredo currently models the strongest coverage ratio in the county at 1.39x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.