602 Main St · Charleston, WV 25302

$39,900

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 65 Days on market

Built 1920 1,307 sqft lot ↓ 20% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2-bedroom, 1-bathroom home features original hardwood floors. The main consists of a living room, kitchen and formal dining room. Upstairs are 2-bedrooms and a full bathroom. The unfinished basement can be used for storage and also has an unfinished utility bathroom. Outdoor amenities include a covered front and rear porch to enjoy the coming spring weather. This property is eligible under the Freddie Mac First Look Initiative through 03/27/2026.

Key facts

• Unfinished basement
• 1,307 sq ft lot
• Built 1920

Tags

• ORIGINAL HARDWOOD FLOORS
• COVERED FRONT AND REAR PORCH
• UNFINISHED BASEMENT
• UNFINISHED UTILITY BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 28.9% vs local median 3.8% in Charleston — 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.

Location & tenants

• Location reads 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary C. Snow West Side Elementary (math 12% / reading 12%, grade F, #375 of 377 statewide, top 99%, 353 students, 0% FRL); West Side Middle School (math 7% / reading 18%, grade F, #109 of 109 statewide, top 100%, 377 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 20% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Kanawha County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 99 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 3.37% ✓
• Cap rate: 28.89%
• Cash-on-cash: 80.72%
• DSCR: 4.59
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $112,476
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Park Dr	0.20mi	3/1.0	1,120 (+3%)	7mo	$19,500	$17	81
1002 Grant St	0.35mi	2/1.0 (-1)	1,128 (+3%)	7mo	$130,000	$115	67
802 Red Oak & 1105 Park Ave	0.38mi	2/1.0 (-1)	1,055 (-3%)	8mo	$129,000	$122	65
811 7th St	0.26mi	3/1.0	954 (-13%)	3mo	$84,000	$88	64
842 Greendale Dr	0.55mi	2/2.0 (-1)	1,100 (+1%)	3mo	$135,000	$123	61
923 Main St	0.35mi	3/1.5	1,248 (+14%)	1mo	$138,000	$111	57
314 Berkeley St	0.21mi	2/1.0 (-1)	1,228 (+12%)	11mo	$80,000	$65	55
721 Garvin Ave	0.51mi	3/1.0	954 (-13%)	5mo	$60,000	$63	51
712 Adams St	0.55mi	3/1.0	1,232 (+13%)	8mo	$24,500	$20	46
1406 First Ave	0.67mi	2/1.0 (-1)	1,020 (-7%)	11mo	$104,900	$103	43
313 Buchanan St	0.64mi	2/1.0 (-1)	978 (-10%)	9mo	$115,000	$118	40
1207 Park Ave	0.64mi	2/1.0 (-1)	940 (-14%)	13mo	$86,000	$91	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.11×
• Total profit: $12,398
• Equity at exit: $5,949

10-year hold

• IRR: 34.5%
• Equity multiple: 4.22×
• Total profit: $35,989
• Equity at exit: $3,450

Cash invested: $11,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State West Virginia: 83 Strongly Landlord-Friendly · R+22
• County: — inherits STATE
• City: — inherits STATE

Landlord-favorable; preempted; minimal protections.

Methodology + full state rankings →

ZIP-level market 25302

• Home prices YoY: -21.8%
• Active inventory: 99
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$17
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $291

Break-even live

Break-even rent $977

Max offer price $39,900

Occupancy floor 73%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $39,900 Active 65 DOM
2. 2026-06-18
   days on market $39,900 Active 64 DOM
3. 2026-06-17
   days on market $39,900 Active 63 DOM
4. 2026-06-16
   days on market $39,900 Active 62 DOM
5. 2026-06-15
   days on market $39,900 Active 61 DOM
6. 2026-06-14
   days on market $39,900 Active 59 DOM
7. 2026-06-12
   days on market $39,900 Active 58 DOM
8. 2026-06-09
   days on market $39,900 Active 55 DOM
9. 2026-06-08
   days on market $39,900 Active 54 DOM
10. 2026-06-07
    days on market $39,900 Active 53 DOM
11. 2026-06-05
    days on market $39,900 Active 50 DOM
12. 2026-06-03
    days on market $39,900 Active 49 DOM
13. 2026-06-02
    days on market $39,900 Active 48 DOM
14. 2026-06-01
    days on market $39,900 Active 47 DOM
15. 2026-05-31
    days on market $39,900 Active 46 DOM
16. 2026-05-30
    days on market $39,900 Active 45 DOM
17. 2026-04-07
    status Pending
18. 2026-02-25
    listed $39,900 Active
19. 2023-05-18
    listed $65,000
20. 2023-01-18
    listed $65,000
21. 2012-07-05
    soldstatus $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WV · Resets to sale price

• Current annual tax: $1,023 · $85/mo
• Projected year-2 tax: $1,023 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,141
• − Mortgage interest: −$2,235
• − Property taxes: −$1,023
• − Insurance: −$5,724
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$1,161
• Taxable income: $3,415
• Est. tax owed @ 24.0%: −$820
• After-tax cash flow: $2,673/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Kanawha County Schools
• NCES district ID: 5400600
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $44,329
• Composite: 29.35/100
• National rank: #6540
• State rank: #17 of 55 in WV

Livability — Charleston

• Score: 85/100
• State rank: #3
• US rank: #524

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, WV
• County: Kanawha County · 33,502 people
• City population: 33,502
• Metro: Charleston, WV
• Population (ZIP): 13,204
• Household income: $55,210
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 679.0

Population outlook (Kanawha County) Hauer SSP2

• Today (2025): 178,946 people
• By 2030: 172,906 · -3.4%
• By 2040: 159,874 · -10.7%
• By 2050: 148,148 · -17.2%
• By 2075: 123,257 · -31.1%
• By 2100: 96,454 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 8% Hispanic / Latino 3% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Foreign-born: 1% · South Korea

Political lean MEDSL · Kanawha

• 2024 margin: R (+17.4) · D 40.2% · R 57.6% · Other 2.2%
• 2008→2024 swing: -17.0pp toward R · 2008: -0.4pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.7 2016: R+20.6 2012: R+11.9 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.83%
• Current HPI: 160.7081
• Rent YoY: —
• Metro: Charleston, WV
• State GDP YoY: —
• F500 in state: 0

Price history

-20.2% since first listed

5 events — show timeline

• 2026-04-07 Pending — KVBOR
• 2026-02-25 Listed $39,900 KVBOR
• 2023-05-18 Listed $65,000 KVBOR
• 2023-01-18 Listed $65,000 KVBOR
• 2012-07-05 Sold (Public Records) $50,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,023 · +0.0% YoY. Source: county tax records.