409 Diamond · Fairmont, WV 26554

$250,000

40 bd · 30.0 ba · 8,009 sqft · MultiFamily · 65 Days on market

Built 1923 5,400 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Unlock the potential of this blank slate and transform it into a fully functioning 10-unit apartment building. With the structure and space already in place, this property is primed for redevelopment—ideal for investors looking to build long-term rental income or expand their portfolio. Endless possibilities await with the right vision. Being Sold AS IS. Will more than likely need to be a cash buyer or renovation loan

Key facts

• 5,400 sq ft lot
• Built 1923
• Listed 65 days

Tags

• 10 UNIT APARTMENT BUILDING
• REDEVELOPMENT POTENTIAL
• LONG TERM RENTAL INCOME

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income, multi-family property; Three-story building
• Construction: Brick construction; Rolled/Hot Mop and rubber roofing
• Exterior features: Level lot

Interior

• Bedrooms: Three rental units: two 1-bedroom units and one 2-bedroom unit
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating (electric); Window air conditioning units
• Interior features: Full basement; Has a view

What this means for you Summary

Snapshot

• This is a 10 × 4-bed/3.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $8k ($91k/yr) — positive. Per door: $759/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 42.7% 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: East Park Elementary School (math 27% / reading 32%, grade F, #225 of 377 statewide, top 68%, 330 students, 0% FRL); East Fairmont Middle School (math 31% / reading 43%, grade F, #28 of 109 statewide, top 27%, 723 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: 150 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $250k implies a 355% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.62% ✓
• Cap rate: 42.71%
• Cash-on-cash: 130.05%
• DSCR: 6.79
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.32×
• Total profit: $442,704
• Equity at exit: $37,276

10-year hold

• IRR: —
• Equity multiple: 15.40×
• Total profit: $1,007,860
• Equity at exit: $21,615

Cash invested: $70,000 (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: 150
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $11,538 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$114 /mo · $1,365/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,423
• Net cashflow: $7,586

Break-even live

Break-even rent $1,935

Max offer price $250,000

Occupancy floor 29%

Sensitivity live

Price	-10% $7,728	-5% $7,657	+0% $7,586	+5% $7,515	+10% $7,445
Rent	-10% $6,675	-5% $7,130	+0% $7,586	+5% $8,042	+10% $8,498
Rate	-1.0pp $7,712	-0.5pp $7,650	base $7,586	+0.5pp $7,521	+1.0pp $7,455

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

Units	Beds	Baths	Est. rent
▸ 10× units	4	3	$11,540
Total (10 units)			$11,538

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $250,000 Active 65 DOM
2. 2026-06-19
   days on market $250,000 Active 63 DOM
3. 2026-06-18
   days on market $250,000 Active 62 DOM
4. 2026-06-17
   days on market $250,000 Active 61 DOM
5. 2026-06-16
   days on market $250,000 Active 60 DOM
6. 2026-06-15
   days on market $250,000 Active 59 DOM
7. 2026-06-14
   days on market $250,000 Active 57 DOM
8. 2026-06-13
   days on market $250,000 Active 56 DOM
9. 2026-06-10
   days on market $250,000 Active 54 DOM
10. 2026-06-09
    days on market $250,000 Active 53 DOM
11. 2026-06-08
    days on market $250,000 Active 52 DOM
12. 2026-06-07
    days on market $250,000 Active 51 DOM
13. 2026-06-02
    days on market $250,000 Active 46 DOM
14. 2026-06-01
    days on market $250,000 Active 45 DOM
15. 2026-05-31
    days on market $250,000 Active 44 DOM
16. 2026-05-30
    days on market $250,000 Active 43 DOM
17. 2026-04-17
    listed $250,000 Active
18. 2007-06-08
    soldstatus $55,000

ⓘ 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: $1,365 · $114/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$110/yr (+$9/mo · 8.1%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $138,456
• − Mortgage interest: −$14,004
• − Property taxes: −$1,365
• − Insurance: −$1,250
• − Repairs & maintenance: −$11,076
• − Management: −$11,076
• − Depreciation: −$7,273
• Taxable income: $92,412
• Est. tax owed @ 24.0%: −$22,179
• After-tax cash flow: $68,854/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

+354.5% since first listed

2 events — show timeline

• 2026-04-17 Listed $250,000 NCWVREIN
• 2007-06-08 Sold (Public Records) $55,000 Public Records

Property tax history

+13.7%/yr

Latest (2025): $1,365 · -1.5% YoY. Source: county tax records.