213 McLane Ave · Morgantown, WV 26505

$329,900

4 bd · 4.5 ba · 3,597 sqft · MultiFamily public records · 24 Days on market

Built 1916

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• 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

This is a well maintained rental in a prime location. Hardwood floors. With three large apartments. One apartment is on two levels. Lots of potential. Furnace is three years old and the water heater is two years old. The roof is in good condition. Nice green space. Code inspection is up to date.

Key facts

• Green space
• Two levels
• Hardwood floors

Tags

• HARDWOOD FLOORS
• TWO LEVELS
• GREEN SPACE
• FURNACE THREE YEARS OLD
• WATER HEATER TWO YEARS OLD
• ROOF IN GOOD CONDITION

Property features AI

Exterior

• Home design: Built in 1916
• Construction: Originally constructed in 1916
• Exterior features: Located in the Sunnyside subdivision

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.67-bath units multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $325k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.1% in Morgantown — 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 84/100 on livability (#5 in WV, #674 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment D-.
• Monongalia County Schools (urban): math 45% / reading 53% proficiency, ranked #1 of 55 in WV (top 2%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.5%/yr); 119 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).
• At $4,028/mo this rent would consume 106% of the median local household income ($46k/yr) (locally 3256% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Monongalia County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $92k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,951 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.21×
• Total profit: $18,955
• Equity at exit: $49,189

10-year hold

• IRR: 16.7%
• Equity multiple: 2.52×
• Total profit: $140,721
• Equity at exit: $28,524

Cash invested: $92,372 (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 26505

• Home prices YoY: -31.9%
• Rents YoY: 5.5%
• Active inventory: 119
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $4,028 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$338 /mo · $4,060/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $976

Break-even live

Break-even rent $2,792

Max offer price $329,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.67	$4,029
Total (3 units)			$4,028

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $329,900 Active 24 DOM
2. 2026-06-18
   days on market $329,900 Active 23 DOM
3. 2026-06-17
   days on market $329,900 Active 22 DOM
4. 2026-06-16
   days on market $329,900 Active 21 DOM
5. 2026-06-15
   days on market $329,900 Active 20 DOM
6. 2026-06-14
   days on market $329,900 Active 18 DOM
7. 2026-06-13
   days on market $329,900 Active 17 DOM
8. 2026-06-10
   days on market $329,900 Active 15 DOM
9. 2026-06-09
   days on market $329,900 Active 14 DOM
10. 2026-06-08
    days on market $329,900 Active 13 DOM
11. 2026-06-07
    days on market $329,900 Active 12 DOM
12. 2026-06-05
    days on market $329,900 Active 9 DOM
13. 2026-06-03
    days on market $329,900 Active 8 DOM
14. 2026-06-02
    days on market $329,900 Active 7 DOM
15. 2026-06-01
    days on market $329,900 Active 6 DOM
16. 2026-05-31
    days on market $329,900 Active 5 DOM
17. 2026-05-30
    days on market $329,900 Active 4 DOM
18. 2026-05-26
    listed $329,900 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: $4,060 · $338/mo
• Projected year-2 tax: $4,060 · $338/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 5/10 Major 7 d/yr ≥97°F today · 20 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: $48,336
• − Mortgage interest: −$18,480
• − Property taxes: −$4,060
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,867
• − Management: −$3,867
• − Depreciation: −$9,597
• Taxable income: $6,816
• Est. tax owed @ 24.0%: −$1,636
• After-tax cash flow: $10,080/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: Monongalia County Schools
• NCES district ID: 5400930
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $43,820
• Composite: 41.34/100
• National rank: #3503
• State rank: #1 of 55 in WV

Livability — Morgantown

• Score: 84/100
• State rank: #5
• US rank: #674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgantown, WV
• County: Monongalia County · 97,252 people
• City population: 97,252
• Metro: Morgantown, WV
• Population (ZIP): 37,492
• Household income: $45,536
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 3256.0

Population outlook (Monongalia County) Hauer SSP2

• Today (2025): 122,188 people
• By 2030: 131,536 · +7.7%
• By 2040: 149,777 · +22.6%
• By 2050: 168,245 · +37.7%
• By 2075: 207,979 · +70.2%
• By 2100: 239,430 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 6% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Slovak 3% Italian 2%
• Foreign-born: 10% · China, Canada, Vietnam
• Languages at home: 88% English-only · Arabic 3% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Monongalia

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.7%
• 2008→2024 swing: -8.2pp toward R · 2008: 3.9pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.2 2016: R+10.4 2012: R+9.7 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.05%
• Current HPI: 213.749
• Rent YoY: ▲ 5.46%
• Metro: Morgantown, WV
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $329,900 FSBO.com

Property tax history

+12.2%/yr

Latest (2025): $4,060 · +0.2% YoY. Source: county tax records.