111 Union Dr · Princeton, WV 24740

$109,500

3 bd · 1.5 ba · 1,376 sqft · SingleFamily public records · 313 Days on market

Built 1955 0.69 ac lot Est $149k · 26% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great home situated on a large level lot of almost an acre. Perfect starter home with 4 bedrooms and 2 full baths. Front yard is fully fenced for your four-legged friends. Garage with paved driveway. Covered front porch and a wrap around back deck. Home needs TLC but ready for your special touches and to make your own. It has endless possibilities. Come see today.

Key facts

• Covered front porch
• Large level lot
• 0.69 acre lot

Tags

• LARGE LEVEL LOT
• FULLY FENCED FRONT YARD
• COVERED FRONT PORCH
• WRAP AROUND BACK DECK

Property features AI

Exterior

• Parking: Asphalt parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Block and vinyl siding construction
• Exterior features: Front porch; Storm doors; Fenced yard

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heat (natural gas); Window cooling units; Ceiling fans
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (8.2% below list).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.7% in Princeton — 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 72/100 on livability (#53 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: amenities D, commute F, employment F.
• Mercer County Schools (town): math 26% / reading 37% proficiency, ranked #28 of 55 in WV (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; lower-income renter base — watch delinquency; 4 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($757 loan paydown + $11k appreciation (10.0% local appreciation)).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 313 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $110k implies a 943% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 313 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.92% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $148,608
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Thornton Ave	0.41mi	3/1.0	1,447 (+5%)	22mo	$111,600	$77	52
502 Brookman Ave	0.56mi	3/2.0	1,278 (-7%)	17mo	$150,000	$117	46
908 Christie Ave	0.74mi	3/2.0	1,395 (+1%)	21mo	$150,500	$108	43

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.19×
• Total profit: $67,259
• Equity at exit: $98,646

10-year hold

• IRR: 24.1%
• Equity multiple: 7.26×
• Total profit: $191,973
• Equity at exit: $212,734

Cash invested: $30,660 (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 24740

• Home prices YoY: 7.1%
• Active inventory: 48
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,005 medium
• Mortgage (P&I): −$574
• Tax from tax record: −$54 /mo · $649/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $120

Break-even live

Break-even rent $853

Max offer price $109,500

Occupancy floor 83%

Sensitivity live

Price	-10% $182	-5% $151	+0% $120	+5% $89	+10% $58
Rent	-10% $41	-5% $81	+0% $120	+5% $160	+10% $200
Rate	-1.0pp $175	-0.5pp $148	base $120	+0.5pp $92	+1.0pp $63

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: $27,375
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-31
   days on market $109,500 Active 313 DOM
2. 2026-05-30
   days on market $109,500 Active 312 DOM
3. 2026-04-04
   price $109,500
4. 2026-02-10
   status Active
5. 2025-12-30
   status Active
6. 2025-11-24
   historical Active Under Contract
7. 2025-10-03
   status Active
8. 2025-06-17
   listed $129,000 Active
9. 1972-09-06
   soldstatus $10,500

ⓘ 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: $649 · $54/mo
• Projected year-2 tax: $649 · $54/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,064
• − Mortgage interest: −$6,134
• − Property taxes: −$649
• − Insurance: −$548
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$3,185
• Taxable loss: −$382
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $1,535/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: Mercer County Schools
• NCES district ID: 5400840
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $35,064
• Composite: 25.98/100
• National rank: #7325
• State rank: #28 of 55 in WV

Livability — Princeton

• Score: 72/100
• State rank: #53
• US rank: #6278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mercer County · 33,615 people
• City population: 16,498
• Metro: Bluefield, WV-VA
• Population (ZIP): 16,498
• Household income: $44,793
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 438.0

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 57,860 people
• By 2030: 55,781 · -3.6%
• By 2040: 51,365 · -11.2%
• By 2050: 47,476 · -17.9%
• By 2075: 38,851 · -32.9%
• By 2100: 30,053 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Black 3% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Arabic 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+57.3) · D 20.6% · R 77.9% · Other 1.5%
• 2008→2024 swing: -29.8pp toward R · 2008: -27.6pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+54.4 2016: R+55.3 2012: R+47.1 2008: R+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.67%
• Current HPI: 220.0694
• Rent YoY: —
• Metro: Bluefield, WV-VA
• State GDP YoY: —
• F500 in state: 0

Price history

+942.9% since first listed

7 events — show timeline

• 2026-04-04 Price Changed $109,500 MTCBOR
• 2026-02-10 Relisted — MTCBOR
• 2025-12-30 Relisted — MTCBOR
• 2025-11-24 Contingent — MTCBOR
• 2025-10-03 Relisted — MTCBOR
• 2025-06-17 Listed $129,000 MTCBOR
• 1972-09-06 Sold (Public Records) $10,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $649 · +6.6% YoY. Source: county tax records.