603 W State Ave · Terra Alta, WV 26764

$89,000

3 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 213 Days on market

Built 1980 0.62 ac lot Est $162k · 45% under

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Why this score? — see what drove the A- 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
• Appreciation +5.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

No zoning—flexible for residential, commercial, or mixed-use potential. Located along Route 7 in Terra Alta, this property includes two parcels within town limits, each with public water, sewer, and electric available. One parcel features a home built in the early 1980s, being sold as-is to cash buyers only. The home offers large rooms, a solid structure, and attractive wood accents, but will require significant renovation. With good visibility and convenient access along Route 7, the setting supports a variety of possible uses depending on buyer needs and town requirements. A versatile opportunity in a convenient location.

Key facts

• Easy access
• Public sewer
• Excellent visibility

Tags

• PUBLIC WATER
• PUBLIC SEWER
• ELECTRIC ALREADY IN PLACE
• NO ZONING RESTRICTIONS
• EXCELLENT VISIBILITY
• EASY ACCESS

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family residence; 2 stories
• Construction: Below-grade finished area present
• Exterior features: Corner lot; Sloped lot; Shingle roof

Interior

• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating system listed
• Interior features: Wood flooring; Unfinished walk-out basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 5.7% in Terra Alta — 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 61/100 on livability (#196 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Preston County Schools (rural): math 22% / reading 33% proficiency, ranked #39 of 55 in WV (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Terra Alta/East Preston School (math 20% / reading 29%, grade F, #287 of 377 statewide, top 85%, 310 students, 0% FRL); Preston High School (math 10% / reading 32%, grade F, #100 of 110 statewide, top 91%, 1,178 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 97 active listings in the ZIP; 2 units permitted in Preston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($615 loan paydown + $2k appreciation (1.7% local appreciation)).
• Preston County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $89k implies a 218% gain — meaningful room to come down on a strong offer.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.42% ✓
• Cap rate: 22.04%
• Cash-on-cash: 56.23%
• DSCR: 3.50
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $161,616
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 E State Ave	0.59mi	2/1.0 (-1)	1,449 (-0%)	0mo	$162,900	$112	66
111 Mayer	0.18mi	3/2.0	1,300 (-11%)	19mo	$85,000	$65	54
101 Richfield Ln	0.66mi	3/1.5	1,408 (-3%)	20mo	$150,000	$107	45
117 Sanders St	0.61mi	3/1.5	1,238 (-15%)	14mo	$138,000	$111	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.8%
• Equity multiple: 4.17×
• Total profit: $79,112
• Equity at exit: $33,674

10-year hold

• IRR: 60.5%
• Equity multiple: 8.43×
• Total profit: $185,225
• Equity at exit: $47,415

Cash invested: $24,920 (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 26764

• Home prices YoY: 0.6%
• Active inventory: 97
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,158 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$33 /mo · $397/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $1,168

Break-even live

Break-even rent $680

Max offer price $89,000

Occupancy floor 41%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $89,000 Active 213 DOM
2. 2026-06-18
   days on market $89,000 Active 212 DOM
3. 2026-06-17
   days on market $89,000 Active 211 DOM
4. 2026-06-16
   days on market $89,000 Active 210 DOM
5. 2026-06-15
   days on market $89,000 Active 209 DOM
6. 2026-06-14
   days on market $89,000 Active 207 DOM
7. 2026-06-13
   days on market $89,000 Active 206 DOM
8. 2026-06-10
   days on market $89,000 Active 204 DOM
9. 2026-06-09
   days on market $89,000 Active 203 DOM
10. 2026-06-08
    days on market $89,000 Active 202 DOM
11. 2026-06-07
    days on market $89,000 Active 201 DOM
12. 2026-06-03
    days on market $89,000 Active 197 DOM
13. 2026-06-02
    days on market $89,000 Active 196 DOM
14. 2026-06-01
    days on market $89,000 Active 195 DOM
15. 2026-05-31
    days on market $89,000 Active 194 DOM
16. 2026-05-30
    days on market $89,000 Active 193 DOM
17. 2026-02-19
    price $89,000
18. 2025-11-18
    listed $99,000 Active
19. 1999-12-27
    soldstatus $28,000

ⓘ 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: $397 · $33/mo
• Projected year-2 tax: $525 · $44/mo
• Expected delta: +$128/yr (+$11/mo · 32.3%)

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

Taxation est. · year 1

• Rental income: $25,892
• − Mortgage interest: −$4,985
• − Property taxes: −$397
• − Insurance: −$445
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − Depreciation: −$2,589
• Taxable income: $13,333
• Est. tax owed @ 24.0%: −$3,200
• After-tax cash flow: $10,812/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: Preston County Schools
• NCES district ID: 5401170
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $43,997
• Composite: 23.51/100
• National rank: #7869
• State rank: #39 of 55 in WV

Livability — Terra Alta

• Score: 61/100
• State rank: #196
• US rank: #17622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terra Alta, WV
• Population (ZIP): 4,349

Population outlook (Preston County) Hauer SSP2

• Today (2025): 33,786 people
• By 2030: 33,618 · -0.5%
• By 2040: 32,953 · -2.5%
• By 2050: 32,131 · -4.9%
• By 2075: 30,774 · -8.9%
• By 2100: 27,037 · -20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Preston

• 2024 margin: Solid R (+57.0) · D 20.5% · R 77.5% · Other 2.1%
• 2008→2024 swing: -30.5pp toward R · 2008: -26.5pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+55.1 2016: R+55.8 2012: R+44.4 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.70%
• Current HPI: 294.2344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+217.9% since first listed

3 events — show timeline

• 2026-02-19 Price Changed $89,000 NCWVREIN
• 2025-11-18 Listed $99,000 NCWVREIN
• 1999-12-27 Sold (Public Records) $28,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $397 · -32.6% YoY. Source: county tax records.