455 Washington Ave

Clarksburg, WV 26301

$135,000F

2 bd · 3.0 ba · 720 sqft · Built 1903 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $989/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $-98/mo
• Annual: $-1,178/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• 1% rule: 0.73%
• Cash to close: $37,800

Investor read

• This is a 2-bed/3.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (26.7% below list).
• It's been on market 86 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (26.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#11 in WV, #1,521 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime D+, employment D-.
• Harrison County Schools (town): math 29% / reading 43% proficiency, ranked #12 of 55 in WV (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert C Byrd High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 765 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.
• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.6%/yr); 56 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.4% vs local median 6.8% in Clarksburg — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?