2019 Fulton St · Bluefield, WV 24701

$119,900

6 bd · 4.0 ba · 2,688 sqft · MultiFamily public records · 192 Days on market

Built 1921 0.68 ac lot

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• 1% rule +6.4/10.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

4-unit apartment building with income potential at 2019 Fulton Street, in Bluefield, WV. Set on a large lot with off-street parking, this property offers three 1-bedroom units and one 2-bedroom unit, all with separate utilities and hardwood floors throughout. Ideal for investors seeking a value-add opportunity—renovate to boost rents and equity, or live in one unit while improving the property. Additional Storage on third floor and the lower garage can be used to increase revenue. Conveniently located near shopping, schools, and downtown amenities. This property offers opportunity to start a new venture or add to your existing investment portfolio. Shown by appointment only. Call toda

Key facts

• Separate utilities
• Large lot
• Off-street parking

Tags

• LARGE LOT
• OFF-STREET PARKING
• SEPARATE UTILITIES
• HARDWOOD FLOORS
• ADDITIONAL STORAGE

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; 2 stories
• Construction: Frame construction
• Exterior features: Lot approximately 0.68 acres

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Basement with exterior entry, partial finish, and unfinished areas

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.2% in Bluefield — 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 56/100 on livability (#265 in WV) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($829 loan paydown + $4k appreciation (3.4% local appreciation)).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, 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 192 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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 1921 — 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 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: 1.14% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.94×
• Total profit: $31,660
• Equity at exit: $56,797

10-year hold

• IRR: 17.4%
• Equity multiple: 3.66×
• Total profit: $89,190
• Equity at exit: $89,843

Cash invested: $33,572 (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 24701

• Home prices YoY: 1.6%
• Active inventory: 52
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$171 /mo · $2,057/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $227

Break-even live

Break-even rent $1,076

Max offer price $119,900

Occupancy floor 78%

Sensitivity live

Price	-10% $295	-5% $261	+0% $227	+5% $193	+10% $159
Rent	-10% $119	-5% $173	+0% $227	+5% $281	+10% $335
Rate	-1.0pp $288	-0.5pp $258	base $227	+0.5pp $196	+1.0pp $165

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $119,900 Active 192 DOM
2. 2026-06-18
   days on market $119,900 Active 191 DOM
3. 2026-06-17
   days on market $119,900 Active 190 DOM
4. 2026-06-16
   days on market $119,900 Active 189 DOM
5. 2026-06-15
   days on market $119,900 Active 188 DOM
6. 2026-06-14
   days on market $119,900 Active 186 DOM
7. 2026-06-12
   days on market $119,900 Active 185 DOM
8. 2026-06-09
   days on market $119,900 Active 182 DOM
9. 2026-06-08
   days on market $119,900 Active 181 DOM
10. 2026-06-07
    days on market $119,900 Active 180 DOM
11. 2026-06-05
    days on market $119,900 Active 177 DOM
12. 2026-06-02
    days on market $119,900 Active 175 DOM
13. 2026-06-01
    days on market $119,900 Active 174 DOM
14. 2026-05-31
    days on market $119,900 Active 173 DOM
15. 2026-05-30
    days on market $119,900 Active 172 DOM
16. 2025-12-09
    listed $119,900 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: $2,057 · $171/mo
• Projected year-2 tax: $2,057 · $171/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $16,364
• − Mortgage interest: −$6,716
• − Property taxes: −$2,057
• − Insurance: −$600
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$3,488
• Taxable income: $886
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,514/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: Mercer County Schools
• NCES district ID: 5400840
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $35,064
• Composite: 25.98/100
• National rank: #7325
• State rank: #28 of 55 in WV

Livability — Bluefield

• Score: 56/100
• State rank: #265
• US rank: #22470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bluefield, WV
• County: Mercer County · 33,615 people
• City population: 17,117
• Metro: Bluefield, WV-VA
• Population (ZIP): 17,117
• Household income: $50,455
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 302.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 57,860 people
• By 2030: 55,781 · -3.6%
• By 2040: 51,365 · -11.2%
• By 2050: 47,476 · -17.9%
• By 2075: 38,851 · -32.9%
• By 2100: 30,053 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Danish 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+57.3) · D 20.6% · R 77.9% · Other 1.5%
• 2008→2024 swing: -29.8pp toward R · 2008: -27.6pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+54.4 2016: R+55.3 2012: R+47.1 2008: R+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.42%
• Current HPI: 215.9682
• Rent YoY: —
• Metro: Bluefield, WV-VA
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-12-09 Listed $119,900 MTCBOR

Property tax history

+3.0%/yr

Latest (2025): $2,057 · +6.8% YoY. Source: county tax records.