1612 Race St · Parkersburg, WV 26101

$58,900

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 128 Days on market

Built 1944 5,061 sqft lot ↓ 8% since listing

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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
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home has so much potential. As it sits right now there is a bathroom, that is empty but all new parts are in the room next to it, just needs someone to put it together. There is a kitchen that is empty as well. There is a brand new A/C unit in the front room that just needs hooked up. there are many new parts to this home that is under construction. The home has a roof that is 1 year old, and new basement walls. It sits in a nice location near the Park. You have to see it to appreciate it. It would be a great starter home, or for you investors it would be a great rental as well.

Key facts

• Roof 1 year old
• New a/c unit
• New basement walls

Tags

• NEW A/C UNIT
• NEW BASEMENT WALLS
• ROOF 1 YEAR OLD
• LOCATION NEAR THE PARK

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story house; Property listed as fixer / under construction
• Construction: Aluminum siding; Asphalt/fiberglass roof
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: 7 total rooms (bedrooms and other rooms included)
• Heating & cooling: Central air conditioning; Forced air gas heating
• Interior features: Full, unfinished basement; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 5.6% in Parkersburg — 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 72/100 on livability (#46 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools F, commute F.
• Wood County Schools (urban): math 38% / reading 48% proficiency, ranked #3 of 55 in WV (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 149 active listings in the ZIP; 124 units permitted in Wood County in 2024 (33 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $407 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wood County population projected at -13% 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1944 — 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. 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?
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: 1.92% ✓
• Cap rate: 16.93%
• Cash-on-cash: 37.99%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $160,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2207 17th St	0.03mi	3/1.0	1,344 (-3%)	4mo	$137,000	$102	91
2141 16th St	0.06mi	3/1.0	1,276 (-8%)	8mo	$120,000	$94	78
2602 Morningside Ave	0.47mi	3/1.0	1,334 (-3%)	1mo	$150,000	$112	72
616 Eastlawn Ave	0.19mi	3/2.0	1,300 (-6%)	8mo	$128,000	$98	70
2325 Broad St	0.54mi	3/2.0	1,376 (-0%)	4mo	$189,900	$138	67
1611 15th St	0.49mi	3/1.0	1,288 (-7%)	8mo	$185,000	$144	59
1803 18th St	0.30mi	2/1.0 (-1)	1,200 (-13%)	3mo	$120,000	$100	57
2417 Morningside Ave	0.44mi	2/1.0 (-1)	1,229 (-11%)	0mo	$143,000	$116	56
1608 15th St	0.53mi	3/1.0	1,232 (-11%)	9mo	$165,000	$134	50
2608 Liberty St	0.69mi	3/1.5	1,248 (-10%)	3mo	$127,000	$102	48
2408 Harrison Ave	0.59mi	3/3.0	1,550 (+12%)	6mo	$210,000	$135	39
2617 Liberty St	0.73mi	2/1.5 (-1)	1,253 (-9%)	8mo	$166,000	$132	37

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: 34.0%
• Equity multiple: 2.44×
• Total profit: $23,702
• Equity at exit: $8,782

10-year hold

• IRR: 40.9%
• Equity multiple: 4.85×
• Total profit: $63,436
• Equity at exit: $5,093

Cash invested: $16,492 (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 26101

• Home prices YoY: -27.3%
• Active inventory: 149
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,132 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$38 /mo · $461/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $522

Break-even live

Break-even rent $471

Max offer price $58,900

Occupancy floor 49%

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: $14,725
• Closing costs: $1,767
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $58,900 Active 128 DOM
2. 2026-06-18
   days on market $58,900 Active 127 DOM
3. 2026-06-17
   days on market $58,900 Active 126 DOM
4. 2026-06-16
   days on market $58,900 Active 125 DOM
5. 2026-06-15
   days on market $58,900 Active 124 DOM
6. 2026-06-14
   days on market $58,900 Active 122 DOM
7. 2026-06-12
   pricedays on market $58,900 Active 121 DOM
8. 2026-06-09
   days on market $60,900 Active 118 DOM
9. 2026-06-08
   days on market $60,900 Active 117 DOM
10. 2026-06-07
    days on market $60,900 Active 116 DOM
11. 2026-06-05
    days on market $60,900 Active 113 DOM
12. 2026-06-03
    days on market $60,900 Active 112 DOM
13. 2026-06-02
    days on market $60,900 Active 111 DOM
14. 2026-06-01
    days on market $60,900 Active 110 DOM
15. 2026-05-31
    days on market $60,900 Active 109 DOM
16. 2026-05-30
    days on market $60,900 Active 108 DOM
17. 2026-05-14
    price $60,900
18. 2026-02-11
    listed $65,900 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: $461 · $38/mo
• Projected year-2 tax: $461 · $38/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 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: $13,578
• − Mortgage interest: −$3,299
• − Property taxes: −$461
• − Insurance: −$294
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$1,713
• Taxable income: $5,637
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $4,912/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: Wood County Schools
• NCES district ID: 5401620
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $42,363
• Composite: 36.22/100
• National rank: #4728
• State rank: #3 of 55 in WV

Livability — Parkersburg

• Score: 72/100
• State rank: #46
• US rank: #5841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkersburg, WV
• County: Wood County · 44,810 people
• City population: 44,810
• Metro: Parkersburg-Vienna, WV
• Population (ZIP): 28,005
• Household income: $48,710
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 723.0

Population outlook (Wood County) Hauer SSP2

• Today (2025): 84,304 people
• By 2030: 82,420 · -2.2%
• By 2040: 78,133 · -7.3%
• By 2050: 73,639 · -12.7%
• By 2075: 63,093 · -25.2%
• By 2100: 50,461 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 1%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+43.0) · D 27.6% · R 70.7% · Other 1.6%
• 2008→2024 swing: -14.4pp toward R · 2008: -28.7pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+42.0 2016: R+47.8 2012: R+32.5 2008: R+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.52%
• Current HPI: 203.4508
• Rent YoY: —
• Metro: Parkersburg-Vienna, WV
• State GDP YoY: —
• F500 in state: 0

Price history

-7.6% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $60,900 MLSNOW
• 2026-02-11 Listed $65,900 MLSNOW

Property tax history

+13.4%/yr

Latest (2025): $461 · -61.6% YoY. Source: county tax records.