232 Watson Ave · Fairmont, WV 26554

$99,900

6 bd · 3.0 ba · 2,420 sqft · MultiFamily public records · 40 Days on market

Built 1900 3,585 sqft lot ↓ 5% 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
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Great investment opportunity with immediate income potential! This partially rented 3-unit property offers strong cash-flow possibilities and plenty of upside for investors looking to expand their portfolio. Featuring spacious units, separate entrances, and classic charm, this property has already been producing rental income while still offering room for value-add improvements over time. The covered front porch, manageable yard, and convenient location near local amenities make this an attractive option for tenants. Whether you’re looking for a long-term investment, a renovation project with income already in place, or an addition to your rental portfolio, this property offers excell

Key facts

• Covered front porch
• Partially rented
• Strong cash-flow

Tags

• INVESTMENT OPPORTUNITY
• IMMEDIATE INCOME POTENTIAL
• PARTIALLY RENTED
• STRONG CASH-FLOW
• SEPARATE ENTRANCES
• COVERED FRONT PORCH

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; 2 stories
• Construction: Frame construction; Shingle roof
• Exterior features: Porch; Chain link fencing; Level to sloped lot

Interior

• Bedrooms: Three 2-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Space heater(s)
• Interior features: Full, unfinished walk-out basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.0% vs local median 4.3% in Fairmont — 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 70/100 on livability (#64 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jayenne Elementary School (math 47% / reading 47%, grade D-, #63 of 377 statewide, top 18%, 300 students, 0% FRL); West Fairmont Middle School (math 27% / reading 41%, grade F, #36 of 109 statewide, top 35%, 629 students, 0% FRL); East Fairmont High School (math 27% / reading 52%, grade F, #21 of 110 statewide, top 26%, 689 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.
• Market conditions: 151 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
7. 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?
8. 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.
9. 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.
10. 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: 2.66% ✓
• Cap rate: 23.00%
• Cash-on-cash: 59.66%
• DSCR: 3.65
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $55,660
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 Walnut Ave	0.42mi	5/3.0 (-1)	2,186 (-10%)	19mo	$49,500	$23	43

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: 58.4%
• Equity multiple: 3.59×
• Total profit: $72,435
• Equity at exit: $14,895

10-year hold

• IRR: 63.2%
• Equity multiple: 7.34×
• Total profit: $177,340
• Equity at exit: $8,638

Cash invested: $27,972 (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 26554

• Home prices YoY: -11.3%
• Active inventory: 151
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,662 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $1,391

Break-even live

Break-even rent $902

Max offer price $99,900

Occupancy floor 43%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,661
Total (3 units)			$2,662

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $99,900 Active 40 DOM
2. 2026-06-18
   days on market $99,900 Active 39 DOM
3. 2026-06-17
   days on market $99,900 Active 38 DOM
4. 2026-06-16
   days on market $99,900 Active 37 DOM
5. 2026-06-15
   days on market $99,900 Active 36 DOM
6. 2026-06-14
   days on market $99,900 Active 34 DOM
7. 2026-06-13
   pricedays on market $99,900 Active 33 DOM
8. 2026-06-10
   days on market $114,000 Active 31 DOM
9. 2026-06-09
   days on market $114,000 Active 30 DOM
10. 2026-06-08
    days on market $114,000 Active 29 DOM
11. 2026-06-07
    days on market $114,000 Active 28 DOM
12. 2026-06-02
    days on market $114,000 Active 23 DOM
13. 2026-06-01
    days on market $114,000 Active 22 DOM
14. 2026-05-31
    days on market $114,000 Active 21 DOM
15. 2026-05-30
    days on market $114,000 Active 20 DOM
16. 2026-05-11
    price $114,000
17. 2026-05-10
    listed $120,000 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,944
• − Mortgage interest: −$5,596
• − Property taxes: −$1,762
• − Insurance: −$500
• − Repairs & maintenance: −$2,556
• − Management: −$2,556
• − Depreciation: −$2,906
• Taxable income: $16,069
• Est. tax owed @ 24.0%: −$3,857
• After-tax cash flow: $12,831/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: Marion County Schools
• NCES district ID: 5400720
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 43% ▼ -8.00%
• Median HH income: $42,195
• Composite: 30.8/100
• National rank: #6145
• State rank: #11 of 55 in WV

Livability — Fairmont

• Score: 70/100
• State rank: #64
• US rank: #8054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, WV
• Population (ZIP): 42,116

Population outlook (Marion County) Hauer SSP2

• Today (2025): 56,923 people
• By 2030: 56,850 · -0.1%
• By 2040: 56,469 · -0.8%
• By 2050: 56,027 · -1.6%
• By 2075: 55,509 · -2.5%
• By 2100: 51,082 · -10.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+31.2) · D 33.2% · R 64.5% · Other 2.3%
• 2008→2024 swing: -31.7pp toward R · 2008: 0.5pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+28.7 2016: R+33.5 2012: R+14.4 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.86%
• Current HPI: 240.9967
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-5.0% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $114,000 NCWVREIN
• 2026-05-10 Listed $120,000 NCWVREIN

Property tax history

+4.4%/yr

Latest (2025): $1,762 · +4.6% YoY. Source: county tax records.