653 Mulberry Ave · Clarksburg, WV 26301

$89,900

5 bd · 4.0 ba · 3,749 sqft · MultiFamily public records · 120 Days on market

Built 1920

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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 +4.0/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

1920 Victorian home. Currently 3 apartments. Could be turned back in to a SF. All measurements are approx. See agent remarks!

Key facts

• Community pool
• Built 1920
• Listed 120 days

Property features AI

Finance

• HOA & community: Community has golf and pool access

Exterior

• Parking: On-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; 2-4 family; 3 stories
• Construction: Frame construction; Wood siding; Shingle roof; Has basement
• Exterior features: Porch; Chain link fencing; Level lot

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Flooring: Wood flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Space heaters; Window air conditioning units
• Interior features: Unfinished basement; Refrigerator; Range; Wood flooring
• Laundry & utility: Basement (utility space)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $503/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 6.8% in Clarksburg — 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 81/100 on livability (#11 in WV, #1,521 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime D+, employment D-.
• Harrison County Schools (town): math 29% / reading 43% proficiency, ranked #12 of 55 in WV (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert C Byrd High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 765 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 54 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).
• At $2,124/mo this rent would consume 51% of the median local household income ($50k/yr) (locally 765% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
8. Crime grade is D 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.36% ✓
• Cap rate: 19.72%
• Cash-on-cash: 47.97%
• DSCR: 3.13
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.62% rent growth · sell at horizon

5-year hold

• IRR: 46.2%
• Equity multiple: 3.02×
• Total profit: $50,919
• Equity at exit: $13,404

10-year hold

• IRR: 52.3%
• Equity multiple: 6.27×
• Total profit: $132,662
• Equity at exit: $7,773

Cash invested: $25,172 (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 26301

• Home prices YoY: -26.4%
• Rents YoY: 3.6%
• Active inventory: 54
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,124 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$163 /mo · $1,953/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $1,006

Break-even live

Break-even rent $850

Max offer price $89,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,057	-5% $1,032	+0% $1,006	+5% $981	+10% $955
Rent	-10% $838	-5% $922	+0% $1,006	+5% $1,090	+10% $1,174
Rate	-1.0pp $1,052	-0.5pp $1,029	base $1,006	+0.5pp $983	+1.0pp $959

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,124
Total (2 units)			$2,124

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $89,900 Active 120 DOM
2. 2026-06-19
   days on market $89,900 Active 118 DOM
3. 2026-06-18
   days on market $89,900 Active 117 DOM
4. 2026-06-17
   days on market $89,900 Active 116 DOM
5. 2026-06-16
   days on market $89,900 Active 115 DOM
6. 2026-06-15
   days on market $89,900 Active 114 DOM
7. 2026-06-14
   days on market $89,900 Active 112 DOM
8. 2026-06-12
   days on market $89,900 Active 111 DOM
9. 2026-06-09
   days on market $89,900 Active 108 DOM
10. 2026-06-08
    days on market $89,900 Active 107 DOM
11. 2026-06-07
    days on market $89,900 Active 106 DOM
12. 2026-06-05
    days on market $89,900 Active 103 DOM
13. 2026-06-03
    days on market $89,900 Active 102 DOM
14. 2026-06-02
    days on market $89,900 Active 101 DOM
15. 2026-06-01
    days on market $89,900 Active 100 DOM
16. 2026-05-31
    days on market $89,900 Active 99 DOM
17. 2026-05-30
    days on market $89,900 Active 98 DOM
18. 2026-02-23
    status Active
19. 2026-02-16
    listed $89,900 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: $1,953 · $163/mo
• Projected year-2 tax: $1,953 · $163/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,488
• − Mortgage interest: −$5,036
• − Property taxes: −$1,953
• − Insurance: −$450
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$2,615
• Taxable income: $11,356
• Est. tax owed @ 24.0%: −$2,725
• After-tax cash flow: $9,350/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: Harrison County Schools
• NCES district ID: 5400510
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $43,269
• Composite: 30.48/100
• National rank: #6222
• State rank: #12 of 55 in WV

Livability — Clarksburg

• Score: 81/100
• State rank: #11
• US rank: #1521

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksburg, WV
• County: Harrison County · 44,316 people
• City population: 28,716
• Metro: Clarksburg, WV
• Population (ZIP): 28,716
• Household income: $49,816
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 765.0

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 67,273 people
• By 2030: 65,963 · -1.9%
• By 2040: 63,033 · -6.3%
• By 2050: 59,999 · -10.8%
• By 2075: 52,524 · -21.9%
• By 2100: 42,654 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.0) · D 28.5% · R 69.4% · Other 2.1%
• 2008→2024 swing: -27.6pp toward R · 2008: -13.3pp · 2024: -41.0pp
• All cycles: 2024: R+41.0 2020: R+37.6 2016: R+39.5 2012: R+23.5 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.70%
• Current HPI: 149.308
• Rent YoY: ▲ 3.62%
• Metro: Clarksburg, WV
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-02-23 Relisted — NCWVREIN
• 2026-02-16 Listed $89,900 NCWVREIN

Property tax history

+3.1%/yr

Latest (2025): $1,953 · +8.2% YoY. Source: county tax records.