409-411 S Front St · Wheeling, WV 26003

$38,000

6 bd · 4.0 ba · 1,720 sqft · MultiFamily public records · 70 Days on market

Built 1900 5,227 sqft lot $22/sqft · 28% below area Est $53k · 28% under ↓ 42% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• 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 MLS

Investment opportunity at 409-411 S Front St in Wheeling, WV! Only 3 blocks from the suspension bridge in Wheeling, and minutes away from Wheeling Island Casino, this duplex offers great potential near so many amazing things Wheeling has to offer. With 3 bedrooms and 2 full bathrooms on each side, it's a great option for investors or buyers looking to build equity. With some updates and a little bit of TLC, this property could truly shine! Live in one unit while generating rental income from the other, rent out both sides, or renovate and transform it into an Airbnb. The sky is the limit at 409-411 S Front St.

Key facts

• Airbnb
• Rental income
• Duplex

Tags

• INVESTMENT OPPORTUNITY
• DUPLEX
• RENTAL INCOME
• AIRBNB

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $38k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $36k (6.0% below list) — sets the bar for market timing.
• Cap rate 50.3% vs local median 4.3% in Wheeling — 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 69/100 on livability (#74 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Ohio County Schools (urban): math 34% / reading 49% proficiency, ranked #5 of 55 in WV (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 223 active listings in the ZIP; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ohio 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-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?
9. 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?
10. 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.
11. 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.
12. 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: 5.42% ✓
• Cap rate: 50.32%
• Cash-on-cash: 157.25%
• DSCR: 8.00
• GRM: 1.5

CMA / ARV

• ARV (median comp): $52,558
• List price: $38,000
• Delta: -27.70%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.03% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.04×
• Total profit: $53,676
• Equity at exit: $5,666

10-year hold

• IRR: —
• Equity multiple: 12.73×
• Total profit: $124,781
• Equity at exit: $3,286

Cash invested: $10,640 (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 26003

• Home prices YoY: -23.4%
• Rents YoY: 3.0%
• Active inventory: 223
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,059 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$17 /mo · $207/yr
• Insurance: −$16
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $934

Break-even live

Break-even rent $877

Max offer price $38,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,058
Total (2 units)			$2,059

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $38,000 Active 70 DOM
2. 2026-06-18
   days on market $38,000 Active 69 DOM
3. 2026-06-17
   days on market $38,000 Active 68 DOM
4. 2026-06-16
   days on market $38,000 Active 67 DOM
5. 2026-06-15
   days on market $38,000 Active 66 DOM
6. 2026-06-14
   days on market $38,000 Active 64 DOM
7. 2026-06-12
   days on market $38,000 Active 63 DOM
8. 2026-06-09
   days on market $38,000 Active 60 DOM
9. 2026-06-08
   days on market $38,000 Active 59 DOM
10. 2026-06-07
    days on market $38,000 Active 58 DOM
11. 2026-06-05
    days on market $38,000 Active 55 DOM
12. 2026-06-03
    days on market $38,000 Active 54 DOM
13. 2026-06-02
    days on market $38,000 Active 53 DOM
14. 2026-06-01
    days on market $38,000 Active 52 DOM
15. 2026-05-31
    days on market $38,000 Active 51 DOM
16. 2026-05-30
    days on market $38,000 Active 50 DOM
17. 2026-05-10
    price $38,000 617-char remark

    Show marketing remark (617 chars)

    Investment opportunity at 409-411 S Front St in Wheeling, WV! Only 3 blocks from the suspension bridge in Wheeling, and minutes away from Wheeling Island Casino, this duplex offers great potential near so many amazing things Wheeling has to offer. With 3 bedrooms and 2 full bathrooms on each side, it's a great option for investors or buyers looking to build equity. With some updates and a little bit of TLC, this property could truly shine! Live in one unit while generating rental income from the other, rent out both sides, or renovate and transform it into an Airbnb. The sky is the limit at 409-411 S Front St.

18. 2026-04-10
    listed $42,000 Active 617-char remark

    Show marketing remark (617 chars)

    Investment opportunity at 409-411 S Front St in Wheeling, WV! Only 3 blocks from the suspension bridge in Wheeling, and minutes away from Wheeling Island Casino, this duplex offers great potential near so many amazing things Wheeling has to offer. With 3 bedrooms and 2 full bathrooms on each side, it's a great option for investors or buyers looking to build equity. With some updates and a little bit of TLC, this property could truly shine! Live in one unit while generating rental income from the other, rent out both sides, or renovate and transform it into an Airbnb. The sky is the limit at 409-411 S Front St.

19. 1995-03-29
    soldstatus $66,000

ⓘ 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: $207 · $17/mo
• Projected year-2 tax: $224 · $19/mo
• Expected delta: +$17/yr (+$1/mo · 8.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,708
• − Mortgage interest: −$2,129
• − Property taxes: −$207
• − Insurance: −$5,715
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$1,105
• Taxable income: $11,599
• Est. tax owed @ 24.0%: −$2,784
• After-tax cash flow: $8,422/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: Ohio County Schools
• NCES district ID: 5401050
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $41,572
• Composite: 34.88/100
• National rank: #5085
• State rank: #5 of 55 in WV

Livability — Wheeling

• Score: 69/100
• State rank: #74
• US rank: #8950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, WV
• County: Ohio County · 39,982 people
• City population: 39,982
• Metro: Wheeling, WV-OH
• Population (ZIP): 39,982
• Household income: $57,703
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1630.0

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 40,604 people
• By 2030: 39,150 · -3.6%
• By 2040: 36,039 · -11.2%
• By 2050: 33,582 · -17.3%
• By 2075: 28,662 · -29.4%
• By 2100: 22,963 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ohio

• 2024 margin: Strong R (+26.0) · D 36.0% · R 62.0% · Other 2.0%
• 2008→2024 swing: -15.3pp toward R · 2008: -10.8pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+25.8 2016: R+31.6 2012: R+22.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.09%
• Current HPI: 223.4106
• Rent YoY: ▲ 3.03%
• Metro: Wheeling, WV-OH
• State GDP YoY: —
• F500 in state: 0

Price history

-42.4% since first listed

3 events — show timeline

• 2026-05-10 Price Changed $38,000 WBOR
• 2026-04-10 Listed $42,000 WBOR
• 1995-03-29 Sold (Public Records) $66,000 Public Records

Property tax history

-0.4%/yr

Latest (2024): $207 · -0.4% YoY. Source: county tax records.