620 Hobson St · Morgantown, WV 26501

$139,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 127 Days on market

Built 1940 1,873 sqft lot $116/sqft · 33% below area Est $208k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +3.2/10.0
• Rent growth +2.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming older home with tasteful renovations throughout. Features large rooms, a spacious front porch perfect for relaxing, and a convenient location close to town. Full of character with modern updates. $3,000 towards closing costs/flooring with approved offer!!

Key facts

• Spacious front porch
• Convenient location
• 1,873 sq ft lot

Tags

• SPACIOUS FRONT PORCH
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-61 ($-727/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (23.6% below list).
• Recommended offer: $106k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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 (+1.4%/yr); 129 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 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.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $139k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,251 (23.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.76% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (median comp): $207,645
• List price: $139,000
• Delta: -33.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Brockway Ave	0.09mi	2/1.0	1,261 (+5%)	12mo	$225,000	$178	78
216 Reay Aly	0.19mi	3/2.0 (+1)	1,272 (+6%)	12mo	$269,000	$211	62
421 White Ave	0.14mi	2/1.5	1,044 (-13%)	11mo	$265,000	$254	61
608 E Brockway Ave	0.27mi	3/1.5 (+1)	1,050 (-12%)	1mo	$229,900	$219	59
913 Ridgeway Ave	0.64mi	3/1.0 (+1)	1,200 (0%)	10mo	$215,000	$179	56
145 Grandview Ave	0.56mi	2/2.0	1,260 (+5%)	14mo	$235,000	$187	50
913 Snider St	0.67mi	2/1.0	1,260 (+5%)	13mo	$170,000	$135	50
814 Clinton	0.59mi	3/2.0 (+1)	1,104 (-8%)	1mo	$170,000	$154	50
736 Richwood Ave	0.49mi	3/1.0 (+1)	1,304 (+9%)	12mo	$150,000	$115	47
1101 Sabraton Ave	0.69mi	3/2.0 (+1)	1,190 (-1%)	13mo	$236,000	$198	47
265 Waitman St	0.70mi	3/2.0 (+1)	1,273 (+6%)	6mo	$197,500	$155	43
925 Garrison	0.73mi	3/2.0 (+1)	1,303 (+9%)	1mo	$215,000	$165	42

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: -21.1%
• Equity multiple: 0.28×
• Total profit: $-28,067
• Equity at exit: $20,725

10-year hold

• IRR: -18.3%
• Equity multiple: 0.07×
• Total profit: $-36,105
• Equity at exit: $12,018

Cash invested: $38,920 (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: 10.9×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$113 /mo · $1,357/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $-61

Break-even live

Break-even rent $1,139

Max offer price $128,298

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-21	+0% $-61	+5% $-100	+10% $-139
Rent	-10% $-145	-5% $-103	+0% $-61	+5% $-19	+10% $23
Rate	-1.0pp $9	-0.5pp $-25	base $-61	+0.5pp $-97	+1.0pp $-133

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $139,000 Active 127 DOM
2. 2026-06-18
   days on market $139,000 Active 126 DOM
3. 2026-06-17
   days on market $139,000 Active 125 DOM
4. 2026-06-16
   days on market $139,000 Active 124 DOM
5. 2026-06-15
   days on market $139,000 Active 123 DOM
6. 2026-06-14
   days on market $139,000 Active 121 DOM
7. 2026-06-13
   days on market $139,000 Active 120 DOM
8. 2026-06-10
   days on market $139,000 Active 118 DOM
9. 2026-06-09
   days on market $139,000 Active 117 DOM
10. 2026-06-08
    days on market $139,000 Active 116 DOM
11. 2026-06-07
    days on market $139,000 Active 115 DOM
12. 2026-06-05
    days on market $139,000 Active 112 DOM
13. 2026-06-03
    days on market $139,000 Active 111 DOM
14. 2026-06-02
    days on market $139,000 Active 110 DOM
15. 2026-06-01
    days on market $139,000 Active 109 DOM
16. 2026-05-31
    days on market $139,000 Active 108 DOM
17. 2026-05-30
    days on market $139,000 Active 107 DOM
18. 2026-04-08
    price $144,000 264-char remark

    Show marketing remark (264 chars)

    Charming older home with tasteful renovations throughout. Features large rooms, a spacious front porch perfect for relaxing, and a convenient location close to town. Full of character with modern updates. $3,000 towards closing costs/flooring with approved offer!!

19. 2026-03-30
    price $144,500 264-char remark

    Show marketing remark (264 chars)

    Charming older home with tasteful renovations throughout. Features large rooms, a spacious front porch perfect for relaxing, and a convenient location close to town. Full of character with modern updates. $3,000 towards closing costs/flooring with approved offer!!

20. 2026-03-12
    price $154,500 264-char remark

    Show marketing remark (264 chars)

    Charming older home with tasteful renovations throughout. Features large rooms, a spacious front porch perfect for relaxing, and a convenient location close to town. Full of character with modern updates. $3,000 towards closing costs/flooring with approved offer!!

21. 2026-02-12
    listed $155,000 Active 264-char remark

    Show marketing remark (264 chars)

    Charming older home with tasteful renovations throughout. Features large rooms, a spacious front porch perfect for relaxing, and a convenient location close to town. Full of character with modern updates. $3,000 towards closing costs/flooring with approved offer!!

22. 1999-11-08
    soldstatus $44,500

ⓘ 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: $1,357 · $113/mo
• Projected year-2 tax: $1,357 · $113/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 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: $12,750
• − Mortgage interest: −$7,786
• − Property taxes: −$1,357
• − Insurance: −$695
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$4,044
• Taxable loss: −$3,172
• Est. tax savings @ 24.0%: +$761
• After-tax cash flow: $34/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

+223.6% since first listed

5 events — show timeline

• 2026-04-08 Price Changed $144,000 NCWVREIN
• 2026-03-30 Price Changed $144,500 NCWVREIN
• 2026-03-12 Price Changed $154,500 NCWVREIN
• 2026-02-12 Listed $155,000 NCWVREIN
• 1999-11-08 Sold (Public Records) $44,500 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,357 · +0.2% YoY. Source: county tax records.