574 Pennsylvania · Morgantown, WV 26501

$149,900

4 bd · 3.0 ba · 1,797 sqft · MultiFamily public records · 140 Days on market

Built 1911 2,483 sqft lot $83/sqft · 22% below area Est $192k · 22% under ↓ 8% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.9/5.0
• 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 MLS

3 STORY, 3 UNIT RENTAL with all utilities separated in downtown Morgantown. Common laundry Room for all units on 1st floor.

Key facts

• 3 unit rental
• 3 story
• Common laundry room

Tags

• 3 STORY
• 3 UNIT RENTAL
• COMMON LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $416/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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 (+1.4%/yr); 129 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).
• At $2,825/mo this rent would consume 53% of the median local household income ($64k/yr) (locally 595% 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 $1k of loan paydown is wiped out by about $4k 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 + 1.4% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% 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 1911 — 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 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?
8. 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.
9. 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.
10. 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: 1.88% ✓
• Cap rate: 16.29%
• Cash-on-cash: 35.69%
• DSCR: 2.59
• GRM: 4.4

CMA / ARV

• ARV (median comp): $191,777
• List price: $149,900
• Delta: -21.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Pennsylvania	0.19mi	3/3.0 (-1)	1,827 (+2%)	17mo	$112,500	$62	69
450 Dallas St	0.27mi	5/2.5 (+1)	1,815 (+1%)	12mo	$170,000	$94	69
309 Green St	0.19mi	4/2.0	1,600 (-11%)	5mo	$272,500	$170	65
565 E Brockway	0.37mi	4/2.0	1,773 (-1%)	21mo	$150,000	$85	58
301 Richwood Ave	0.23mi	5/2.0 (+1)	1,680 (-6%)	19mo	$166,000	$99	54
228 Cornell Ave	0.62mi	5/2.5 (+1)	1,625 (-10%)	22mo	$205,500	$126	30
980 Willey St	0.56mi	3/1.0 (-1)	1,550 (-14%)	15mo	$125,000	$81	25

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

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.21×
• Total profit: $50,797
• Equity at exit: $22,351

10-year hold

• IRR: 36.0%
• Equity multiple: 4.08×
• Total profit: $129,066
• Equity at exit: $12,961

Cash invested: $41,972 (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 26501

• Home prices YoY: -30.1%
• Rents YoY: 1.4%
• Active inventory: 129
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,825 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$135 /mo · $1,620/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $1,248

Break-even live

Break-even rent $1,245

Max offer price $149,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,826
Total (3 units)			$2,825

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $149,900 Active 140 DOM
2. 2026-06-18
   days on market $149,900 Active 139 DOM
3. 2026-06-17
   days on market $149,900 Active 138 DOM
4. 2026-06-16
   days on market $149,900 Active 137 DOM
5. 2026-06-15
   days on market $149,900 Active 136 DOM
6. 2026-06-14
   days on market $149,900 Active 134 DOM
7. 2026-06-13
   days on market $149,900 Active 133 DOM
8. 2026-06-10
   days on market $149,900 Active 131 DOM
9. 2026-06-09
   days on market $149,900 Active 130 DOM
10. 2026-06-08
    days on market $149,900 Active 129 DOM
11. 2026-06-07
    days on market $149,900 Active 128 DOM
12. 2026-06-05
    days on market $149,900 Active 125 DOM
13. 2026-06-03
    days on market $149,900 Active 124 DOM
14. 2026-06-02
    days on market $149,900 Active 123 DOM
15. 2026-06-01
    days on market $149,900 Active 122 DOM
16. 2026-05-31
    days on market $149,900 Active 121 DOM
17. 2026-05-30
    days on market $149,900 Active 120 DOM
18. 2026-01-30
    listed $149,900 Active 123-char remark

    Show marketing remark (123 chars)

    3 STORY, 3 UNIT RENTAL with all utilities separated in downtown Morgantown. Common laundry Room for all units on 1st floor.

19. 2025-07-23
    price $154,900
20. 2024-07-30
    price $194,900
21. 2024-05-04
    historical $800
22. 2024-03-26
    price $800
23. 2024-02-20
    price $849
24. 2024-02-17
    listed $850
25. 2023-06-25
    historical
26. 2022-09-16
    soldstatus $169,000
27. 2022-09-15
    soldstatus $169,000
28. 2022-05-16
    listed $169,900
29. 2008-09-23
    soldstatus $163,000

ⓘ 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: $1,620 · $135/mo
• Projected year-2 tax: $1,620 · $135/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 5/10 Major FEMA zone X (unshaded) · 64% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 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: $33,900
• − Mortgage interest: −$8,397
• − Property taxes: −$1,620
• − Insurance: −$750
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − Depreciation: −$4,361
• Taxable income: $13,349
• Est. tax owed @ 24.0%: −$3,204
• After-tax cash flow: $11,775/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): 19,529
• Household income: $63,529
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 595.0

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 (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 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: ▼ -95.15%
• Current HPI: 220.911
• Rent YoY: ▲ 1.42%
• Metro: Morgantown, WV
• State GDP YoY: —
• F500 in state: 0

Price history

-8.0% since first listed

12 events — show timeline

• 2026-01-30 Listed $149,900 NCWVREIN
• 2025-07-23 Price Changed $154,900 NCWVREIN
• 2024-07-30 Price Changed $194,900 NCWVREIN
• 2024-05-04 Rental Removed $800 BUILDIUM
• 2024-03-26 Price Changed $800 BUILDIUM
• 2024-02-20 Price Changed $849 BUILDIUM
• 2024-02-17 Listed for Rent $850 BUILDIUM
• 2023-06-25 Rental Removed — BUILDIUM
• 2022-09-16 Sold (Public Records) $169,000 Public Records
• 2022-09-15 Sold (MLS) $169,000 NCWVREIN
• 2022-05-16 Listed $169,900 NCWVREIN
• 2008-09-23 Sold (Public Records) $163,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,620 · +0.2% YoY. Source: county tax records.