104 High St · Fort Gay, WV 25514

$135,000

3 bd · 1.0 ba · 1,492 sqft · SingleFamily · 316 Days on market

Built 1935 Good condition 7,841 sqft lot $90/sqft · 13% below area Est $155k · 13% under

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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 +14.6/30.0
• ARV discount +13.4/15.0
• Appreciation +6.8/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Condition / age +3.8/5.0
• Livability +2.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0

Listing remarks MLS

Historic three (3) bedroom, two (2) bathroom home in Downtown Ft Gay just to the left of the Former Ft Gay High School that is under complete renovation. This home is in good condition and is move in ready for the buyer that is looking for a historic type home. There is also a two (2) two bedroom, One (1) bathroom apartment that in good condition and can start generating income from day one. If a buyer wanted to rent that house and the apartment, it would be an instant money maker. The lot is approximately 60' wide and the line is drawn at approximately where the basketball pole is (look for the tape on the fence). The front lot facing Court St is not included but can be purchase separately, it is listed as 3216 Court Street; MLS 181894

Key facts

• 7,841 sq ft lot
• Built 1935
• Listed 315 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $33 ($390/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (9.5% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#302 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, amenities F, commute F.
• Wayne County Schools (rural): math 25% / reading 38% proficiency, ranked #25 of 55 in WV (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 67 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($933 loan paydown + $5k appreciation (3.6% local appreciation)).
• Wayne County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 316 days — a 12% lower offer ($119k) 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 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 316 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $155,459
• List price: $135,000
• Delta: -13.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Hale's	0.14mi	3/2.0	1,500 (+0%)	22mo	$139,000	$93	70
143 South Hwy 3	0.33mi	3/1.5	1,483 (-1%)	18mo	$152,000	$102	67
46 Noah's Lndg	0.72mi	3/2.0	1,517 (+2%)	10mo	$135,000	$89	52

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

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.60×
• Total profit: $22,836
• Equity at exit: $65,471

10-year hold

• IRR: 12.2%
• Equity multiple: 2.93×
• Total profit: $73,029
• Equity at exit: $104,774

Cash invested: $37,800 (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 25514

• Home prices YoY: 2.7%
• Active inventory: 14
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $33

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 92%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $135,000 Active 316 DOM
2. 2026-06-18
   days on market $135,000 Active 315 DOM
3. 2026-06-17
   days on market $135,000 Active 314 DOM
4. 2026-06-16
   days on market $135,000 Active 313 DOM
5. 2026-06-15
   days on market $135,000 Active 312 DOM
6. 2026-06-14
   days on market $135,000 Active 310 DOM
7. 2026-06-12
   days on market $135,000 Active 309 DOM
8. 2026-06-09
   days on market $135,000 Active 306 DOM
9. 2026-06-08
   days on market $135,000 Active 305 DOM
10. 2026-06-07
    days on market $135,000 Active 304 DOM
11. 2026-06-05
    days on market $135,000 Active 301 DOM
12. 2026-06-03
    days on market $135,000 Active 300 DOM
13. 2026-06-02
    days on market $135,000 Active 299 DOM
14. 2026-06-01
    days on market $135,000 Active 298 DOM
15. 2026-05-31
    days on market $135,000 Active 297 DOM
16. 2026-05-30
    days on market $135,000 Active 296 DOM
17. 2026-02-02
    status Active 746-char remark

    Show marketing remark (746 chars)

    Historic three (3) bedroom, two (2) bathroom home in Downtown Ft Gay just to the left of the Former Ft Gay High School that is under complete renovation. This home is in good condition and is move in ready for the buyer that is looking for a historic type home. There is also a two (2) two bedroom, One (1) bathroom apartment that in good condition and can start generating income from day one. If a buyer wanted to rent that house and the apartment, it would be an instant money maker. The lot is approximately 60' wide and the line is drawn at approximately where the basketball pole is (look for the tape on the fence). The front lot facing Court St is not included but can be purchase separately, it is listed as 3216 Court Street; MLS 181894

18. 2026-02-01
    historical 746-char remark

    Show marketing remark (746 chars)

    Historic three (3) bedroom, two (2) bathroom home in Downtown Ft Gay just to the left of the Former Ft Gay High School that is under complete renovation. This home is in good condition and is move in ready for the buyer that is looking for a historic type home. There is also a two (2) two bedroom, One (1) bathroom apartment that in good condition and can start generating income from day one. If a buyer wanted to rent that house and the apartment, it would be an instant money maker. The lot is approximately 60' wide and the line is drawn at approximately where the basketball pole is (look for the tape on the fence). The front lot facing Court St is not included but can be purchase separately, it is listed as 3216 Court Street; MLS 181894

19. 2025-08-04
    listed $135,000 Active 746-char remark

    Show marketing remark (746 chars)

    Historic three (3) bedroom, two (2) bathroom home in Downtown Ft Gay just to the left of the Former Ft Gay High School that is under complete renovation. This home is in good condition and is move in ready for the buyer that is looking for a historic type home. There is also a two (2) two bedroom, One (1) bathroom apartment that in good condition and can start generating income from day one. If a buyer wanted to rent that house and the apartment, it would be an instant money maker. The lot is approximately 60' wide and the line is drawn at approximately where the basketball pole is (look for the tape on the fence). The front lot facing Court St is not included but can be purchase separately, it is listed as 3216 Court Street; MLS 181894

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 21 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: $14,666
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$3,927
• Taxable loss: −$1,870
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $839/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This historic three-bedroom home is in good condition and move-in ready, with minor repairs needed to update the kitchen and bathrooms. It offers a great opportunity for a buyer looking for a historic home in a prime location.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom cabinets — slight wear
• Minor kitchen countertops — slight wear

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizes kitchen and improves resale value
• Both paint interior walls — updates interior and enhances curb appeal
• Both replace dated wallpaper — modernizes interior and improves resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom cabinets · slight wear	Minor	$500–3,000
kitchen countertops · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizes kitchen and improves resale value ↑
• Both paint interior walls — updates interior and enhances curb appeal ↑
• Both replace dated wallpaper — modernizes interior and improves resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wayne County Schools
• NCES district ID: 5401500
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $36,283
• Composite: 26.08/100
• National rank: #7297
• State rank: #25 of 55 in WV

Livability — Fort Gay

• Score: 53/100
• State rank: #302
• US rank: #24443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Gay, WV
• Population (ZIP): 3,841

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 38,267 people
• By 2030: 36,578 · -4.4%
• By 2040: 33,034 · -13.7%
• By 2050: 29,671 · -22.5%
• By 2075: 22,901 · -40.2%
• By 2100: 17,421 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 6% Two or more races 4%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+53.4) · D 22.4% · R 75.8% · Other 1.8%
• 2008→2024 swing: -35.1pp toward R · 2008: -18.2pp · 2024: -53.4pp
• All cycles: 2024: R+53.4 2020: R+50.1 2016: R+51.3 2012: R+27.0 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.62%
• Current HPI: 135.5736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-02-02 Relisted — HBRMLS
• 2026-02-01 Delisted — HBRMLS
• 2025-08-04 Listed $135,000 HBRMLS