828 Washington St W · Charleston, WV 25302

$46,500

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 87 Days on market

Built 1930 2,178 sqft lot Est $84k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2-story home in Charleston offers endless potential and opportunity! Whether you're looking for your next investment property or a place to make your own, this home is full of possibilities. The second floor features three spacious bedrooms. Downstairs, the basement provides a great opportunity to add additional finished square footage and increase value. With solid space, flexible options, and plenty of potential, this property is perfect for investors or buyers ready to add their personal touch. Don’t miss this amazing deal!

Key facts

• 2,178 sq ft lot
• Built 1930
• Listed 86 days

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer
• Home design: Two-story single family residence; Residential property; Brick construction
• Construction: Brick construction; Partial basement
• Exterior features: Patio; Porch

Interior

• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced air heating
• Interior features: Insulated windows; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $44k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.6% vs local median 3.8% in Charleston — 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 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mary C. Snow West Side Elementary (math 12% / reading 12%, grade F, #375 of 377 statewide, top 99%, 353 students, 0% FRL); West Side Middle School (math 7% / reading 18%, grade F, #109 of 109 statewide, top 100%, 377 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 20% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Kanawha County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 99 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $321 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kanawha 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $43,710 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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 A-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?
6. 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?
7. 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.
8. 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.
9. 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: 2.91% ✓
• Cap rate: 24.62%
• Cash-on-cash: 65.46%
• DSCR: 3.91
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $83,980
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 Margaret St	0.27mi	3/1.5	1,128 (-13%)	14mo	$73,000	$65	53
314 Berkeley St	0.67mi	2/1.0 (-1)	1,228 (-5%)	11mo	$80,000	$65	46
830 Florence Dr	0.71mi	3/1.0	1,379 (+7%)	18mo	$112,500	$82	41

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: 64.7%
• Equity multiple: 3.90×
• Total profit: $37,746
• Equity at exit: $6,933

10-year hold

• IRR: 69.1%
• Equity multiple: 8.01×
• Total profit: $91,294
• Equity at exit: $4,020

Cash invested: $13,020 (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 25302

• Home prices YoY: -21.8%
• Active inventory: 99
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,352 medium
• Mortgage (P&I): −$244
• Tax from tax record: −$95 /mo · $1,135/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $710

Break-even live

Break-even rent $453

Max offer price $46,500

Occupancy floor 42%

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: $11,625
• Closing costs: $1,395
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $46,500 Active 87 DOM
2. 2026-06-18
   days on market $46,500 Active 86 DOM
3. 2026-06-17
   days on market $46,500 Active 85 DOM
4. 2026-06-16
   days on market $46,500 Active 84 DOM
5. 2026-06-15
   days on market $46,500 Active 83 DOM
6. 2026-06-14
   days on market $46,500 Active 81 DOM
7. 2026-06-12
   statusdays on market $46,500 Active 80 DOM
8. 2026-06-05
   statusdays on market $46,500 Pending 78 DOM
9. 2026-06-03
   days on market $46,500 Active 77 DOM
10. 2026-06-02
    days on market $46,500 Active 76 DOM
11. 2026-06-01
    pricedays on market $46,500 Active 75 DOM
12. 2026-05-31
    days on market $50,000 Active 74 DOM
13. 2026-05-30
    days on market $50,000 Active 73 DOM
14. 2026-05-21
    price $50,000
15. 2026-05-06
    price $60,000
16. 2026-04-22
    status Active
17. 2026-04-13
    status Pending
18. 2026-03-19
    price $65,000
19. 2026-03-06
    listed $70,000 Active
20. 2002-09-03
    soldstatus $40,000

ⓘ 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: $1,135 · $95/mo
• Projected year-2 tax: $1,135 · $95/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,225
• − Mortgage interest: −$2,605
• − Property taxes: −$1,135
• − Insurance: −$232
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$1,353
• Taxable income: $8,303
• Est. tax owed @ 24.0%: −$1,993
• After-tax cash flow: $6,531/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: Kanawha County Schools
• NCES district ID: 5400600
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $44,329
• Composite: 29.35/100
• National rank: #6540
• State rank: #17 of 55 in WV

Livability — Charleston

• Score: 85/100
• State rank: #3
• US rank: #524

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, WV
• County: Kanawha County · 33,502 people
• City population: 33,502
• Metro: Charleston, WV
• Population (ZIP): 13,204
• Household income: $55,210
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 679.0

Population outlook (Kanawha County) Hauer SSP2

• Today (2025): 178,946 people
• By 2030: 172,906 · -3.4%
• By 2040: 159,874 · -10.7%
• By 2050: 148,148 · -17.2%
• By 2075: 123,257 · -31.1%
• By 2100: 96,454 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 8% Hispanic / Latino 3% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Foreign-born: 1% · South Korea

Political lean MEDSL · Kanawha

• 2024 margin: R (+17.4) · D 40.2% · R 57.6% · Other 2.2%
• 2008→2024 swing: -17.0pp toward R · 2008: -0.4pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.7 2016: R+20.6 2012: R+11.9 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.83%
• Current HPI: 160.7081
• Rent YoY: —
• Metro: Charleston, WV
• State GDP YoY: —
• F500 in state: 0

Price history

+25.0% since first listed

7 events — show timeline

• 2026-05-21 Price Changed $50,000 KVBOR
• 2026-05-06 Price Changed $60,000 KVBOR
• 2026-04-22 Relisted — KVBOR
• 2026-04-13 Pending — KVBOR
• 2026-03-19 Price Changed $65,000 KVBOR
• 2026-03-06 Listed $70,000 KVBOR
• 2002-09-03 Sold (Public Records) $40,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $1,135 · +0.0% YoY. Source: county tax records.