624 Court St · Harrisville, WV 26362

$27,500

2 bd · 1.0 ba · 1,368 sqft · SingleFamily · 118 Days on market

Built 1930 2.53 ac 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 +5.0/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

624 Court St. , Harrisville, WV (Ritchie County) on approximately 2.53 acres (+/-). 2 Bed 1 bath existing home Existing in rough condition and will require extensive work to restore, or may be best suited for demolition and a new build. Crawl space only, no basement. Convenient to shopping and dining. Parking is limited/needed. Property is being sold As-Is.

Key facts

• 2.53 acre lot
• Built 1930
• Listed 118 days

Property features AI

Exterior

• Parking: Off-street parking (see remarks)
• Utilities: Public water; Public sewer and septic tank
• Home design: Single-story home
• Construction: Aluminum and wood siding; Metal roof; Built before (year from assessor)
• Exterior features: Irregular-shaped lot; Has a view; Shed(s) and storage structure on the property

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas baseboard heating
• Interior features: Total of 7 rooms; Crawl space basement; Property listed as fixer
• Laundry & utility: Main-level laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $25k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#102 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.
• Ritchie County Schools (rural): math 31% / reading 40% proficiency, ranked #16 of 55 in WV (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 25 units permitted in Ritchie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($190 loan paydown + $825 appreciation (3.0% local appreciation)).
• Ritchie County population projected at -27% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $25,025 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 3.84% ✓
• Cap rate: 34.40%
• Cash-on-cash: 100.40%
• DSCR: 5.47
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $114,912
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 W North St	0.47mi	3/2.0 (+1)	1,518 (+11%)	21mo	$127,500	$84	33

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: —
• Equity multiple: 6.76×
• Total profit: $44,360
• Equity at exit: $12,365

10-year hold

• IRR: —
• Equity multiple: 14.04×
• Total profit: $100,439
• Equity at exit: $19,056

Cash invested: $7,700 (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 26362

• Active inventory: 7
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$144
• Tax est. 1.5%: −$34 /mo · $412/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $644

Break-even live

Break-even rent $241

Max offer price $27,500

Occupancy floor 34%

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: $6,875
• Closing costs: $825
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $27,500 Active 118 DOM
2. 2026-06-17
   days on market $27,500 Active 117 DOM
3. 2026-06-16
   days on market $27,500 Active 116 DOM
4. 2026-06-15
   days on market $27,500 Active 115 DOM
5. 2026-06-15
   days on market $27,500 Active 114 DOM
6. 2026-06-13
   days on market $27,500 Active 113 DOM
7. 2026-06-12
   days on market $27,500 Active 112 DOM
8. 2026-06-09
   days on market $27,500 Active 109 DOM
9. 2026-06-08
   days on market $27,500 Active 108 DOM
10. 2026-06-08
    days on market $27,500 Active 107 DOM
11. 2026-06-05
    days on market $27,500 Active 105 DOM
12. 2026-06-04
    days on market $27,500 Active 104 DOM
13. 2026-06-03
    days on market $27,500 Active 103 DOM
14. 2026-06-02
    days on market $27,500 Active 102 DOM
15. 2026-06-01
    days on market $27,500 Active 101 DOM
16. 2026-05-31
    days on market $27,500 Active 100 DOM
17. 2026-02-20
    listed $27,500 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $12,672
• − Mortgage interest: −$1,540
• − Property taxes: −$412
• − Insurance: −$138
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$800
• Taxable income: $7,754
• Est. tax owed @ 24.0%: −$1,861
• After-tax cash flow: $5,870/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: Ritchie County Schools
• NCES district ID: 5401290
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $37,608
• Composite: 29.55/100
• National rank: #6491
• State rank: #16 of 55 in WV

Livability — Harrisville

• Score: 66/100
• State rank: #102
• US rank: #11394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisville, WV
• Population (ZIP): 2,904

Population outlook (Ritchie County) Hauer SSP2

• Today (2025): 9,132 people
• By 2030: 8,617 · -5.6%
• By 2040: 7,585 · -16.9%
• By 2050: 6,671 · -26.9%
• By 2075: 5,072 · -44.5%
• By 2100: 3,845 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 1%
• Common ancestry: Lithuanian 5% Iranian 2% Romanian 2%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Ritchie

• 2024 margin: Solid R (+73.0) · D 12.8% · R 85.8% · Other 1.5%
• 2008→2024 swing: -26.6pp toward R · 2008: -46.4pp · 2024: -73.0pp
• All cycles: 2024: R+73.0 2020: R+71.5 2016: R+71.4 2012: R+56.7 2008: R+46.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-02-20 Listed $27,500 MLSNOW