324 Court St · Welch, WV 24801

$39,000

3 bd · 3.0 ba · 1,728 sqft · SingleFamily public records · 37 Days on market

Built 1930 5,009 sqft lot

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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
• Appreciation +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

House in welch Wv 324 court st. I has some damage due to last renter and some clean up some damage due to leak but not major needs power restored because power meter pulled out. But for 40k or best offer it is fixer up but good bones

Key facts

• 5,009 sq ft lot
• Built 1930
• Listed 37 days

Property features AI

Exterior

• Home design: House; 1,728 total living area
• Exterior features: Lot approximately 5,009 sq ft

🏷️ Possibly a rental listed for sale. The $39,000 price doesn't fit this home's estimated sale value (~$103,680) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#126 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Mcdowell County Schools (rural): math 14% / reading 28% proficiency, ranked #55 of 55 in WV (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 12 active listings in the ZIP; 7 units permitted in McDowell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.6%/yr); year-one equity from $270 of loan paydown is wiped out by about $627 of value loss. Plan a longer hold.
• McDowell County population projected at -48% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.19% ✓
• Cap rate: 28.58%
• Cash-on-cash: 79.61%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $103,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 Maple Ave	0.13mi	2/2.0 (-1)	1,920 (+11%)	11mo	$115,000	$60	57

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

Projected returns pro-forma

-1.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 80.7%
• Equity multiple: 4.86×
• Total profit: $42,157
• Equity at exit: $8,290

10-year hold

• IRR: 83.3%
• Equity multiple: 10.00×
• Total profit: $98,285
• Equity at exit: $7,779

Cash invested: $10,920 (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 24801

• Home prices YoY: -1.8%
• Active inventory: 12
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$36 /mo · $436/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $724

Break-even live

Break-even rent $325

Max offer price $39,000

Occupancy floor 37%

Sensitivity live

Price	-10% $747	-5% $735	+0% $724	+5% $713	+10% $702
Rent	-10% $626	-5% $675	+0% $724	+5% $774	+10% $823
Rate	-1.0pp $744	-0.5pp $734	base $724	+0.5pp $714	+1.0pp $704

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-01-08
   historical Under Contract
2. 2025-12-02
   listed $39,000 Active

ⓘ 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: $436 · $36/mo
• Projected year-2 tax: $436 · $36/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥96°F today · 23 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: $14,909
• − Mortgage interest: −$2,185
• − Property taxes: −$436
• − Insurance: −$195
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$1,135
• Taxable income: $8,574
• Est. tax owed @ 24.0%: −$2,058
• After-tax cash flow: $6,636/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: Mcdowell County Schools
• NCES district ID: 5400810
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $23,725
• Composite: 16.18/100
• National rank: #9229
• State rank: #55 of 55 in WV

Livability — Welch

• Score: 65/100
• State rank: #126
• US rank: #13064

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Welch, WV
• City population: 5,107
• Population (ZIP): 5,107

Population outlook (McDowell County) Hauer SSP2

• Today (2025): 15,405 people
• By 2030: 13,475 · -12.5%
• By 2040: 10,266 · -33.4%
• By 2050: 7,970 · -48.3%
• By 2075: 5,023 · -67.4%
• By 2100: 3,714 · -75.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 20% Hispanic / Latino 6%
• Common ancestry: Iranian 5% Italian 4%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · McDowell

• 2024 margin: Solid R (+60.4) · D 19.1% · R 79.5% · Other 1.5%
• 2008→2024 swing: -68.9pp toward R · 2008: 8.5pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.5 2016: R+51.5 2012: R+30.1 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.61%
• Current HPI: 88.0247
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-01-08 Contingent — ForSaleByOwner.com
• 2025-12-02 Listed $39,000 ForSaleByOwner.com

Property tax history

+0.9%/yr

Latest (2025): $436 · +0.5% YoY. Source: county tax records.