302 Columbia St · Fairmont, WV 26554

$120,000

4 bd · 3.5 ba · 2,046 sqft · MultiFamily public records · 79 Days on market

Built 1917 Est $108k · 11% over

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Why this score? — see what drove the C+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• ARV discount +2.7/15.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

ATTENTION INVESTORS, Fully occupied duplex just off gateway connector! Owner pays utilities. There is an additional space that can be used as studio apartment or office space. MUST HAVE AT LEAST 24 HOUR NOTICE FOR ALL SHOWINGS.

Key facts

• Office space
• Studio apartment
• Built 1917

Tags

• FULLY OCCUPIED DUPLEX
• STUDIO APARTMENT
• OFFICE SPACE

Property features AI

Finance

• Other: Zoned Restricted Residential

Exterior

• Parking: On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family (2-4 family); 2 stories
• Construction: Frame construction; Vinyl siding; Shingle roof
• Exterior features: Level lot

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Laminate; Vinyl
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Electric heating
• Interior features: Partial basement; Smoke detector(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive. Per door: $426/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 151 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1917 — 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. 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.
10. 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.
11. 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: 1.77% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.43%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $108,438
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
536 Market St	0.20mi	4/2.0	1,870 (-9%)	7mo	$100,000	$53	64
414 Guffey	0.09mi	3/2.0 (-1)	1,835 (-10%)	7mo	$135,000	$74	62
317 East Park	0.28mi	5/2.0 (+1)	1,824 (-11%)	19mo	$79,500	$44	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.04×
• Total profit: $34,860
• Equity at exit: $17,892

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $100,370
• Equity at exit: $10,375

Cash invested: $33,600 (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: 151
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,128 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$150 /mo · $1,796/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $852

Break-even live

Break-even rent $1,049

Max offer price $120,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,128
Total (2 units)			$2,128

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $120,000 Active 79 DOM
2. 2026-06-18
   days on market $120,000 Active 78 DOM
3. 2026-06-17
   days on market $120,000 Active 77 DOM
4. 2026-06-16
   days on market $120,000 Active 76 DOM
5. 2026-06-15
   days on market $120,000 Active 75 DOM
6. 2026-06-14
   days on market $120,000 Active 73 DOM
7. 2026-06-13
   days on market $120,000 Active 72 DOM
8. 2026-06-10
   days on market $120,000 Active 70 DOM
9. 2026-06-09
   days on market $120,000 Active 69 DOM
10. 2026-06-08
    days on market $120,000 Active 68 DOM
11. 2026-06-07
    days on market $120,000 Active 67 DOM
12. 2026-06-02
    days on market $120,000 Active 62 DOM
13. 2026-06-01
    days on market $120,000 Active 61 DOM
14. 2026-05-31
    days on market $120,000 Active 60 DOM
15. 2026-05-30
    days on market $120,000 Active 59 DOM
16. 2026-04-01
    listed $120,000 Active

ⓘ 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: $1,796 · $150/mo
• Projected year-2 tax: $1,796 · $150/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 5/10 Major 7 d/yr ≥96°F today · 21 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: $25,536
• − Mortgage interest: −$6,722
• − Property taxes: −$1,796
• − Insurance: −$600
• − Repairs & maintenance: −$2,043
• − Management: −$2,043
• − Depreciation: −$3,491
• Taxable income: $8,841
• Est. tax owed @ 24.0%: −$2,122
• After-tax cash flow: $8,104/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

1 event — show timeline

• 2026-04-01 Listed $120,000 NCWVREIN

Property tax history

+4.2%/yr

Latest (2025): $1,796 · +4.6% YoY. Source: county tax records.