1576 Washington St E · Charleston, WV 25311

$140,000

4 bd · 2.0 ba · 2,164 sqft · MultiFamily · 25 Days on market

Built 1930 Good condition 2,178 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +2.9/10.0
• Rent growth +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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity in a prime Charleston location! This versatile duplex at offers endless possibilities for investors, business owners, or owner-occupants. Live in one unit while the second unit helps offset your mortgage, or utilize one side as a professional office space with excellent accessibility and visibility. The property features two separate 2-bedroom, 1-bath units, with the downstairs unit being handicap accessible and completely updated for modern comfort and convenience. The lower level also includes basement storage, providing additional space for inventory, equipment, or tenant use. Conveniently located near shopping and everyday essentials, including a nearby dollar store, this property offers easy access for tenants, clients, or employees. Whether you are looking to expand your investment portfolio, operate a small business, or enjoy the flexibility of owner-occupied income property, this duplex is a unique opportunity in Charleston’s growing market.

Key facts

• Easy access
• Versatile duplex
• Basement storage

Tags

• PRIME CHARLESTON LOCATION
• VERSATILE DUPLEX
• COMPLETELY UPDATED
• BASEMENT STORAGE
• EASY ACCESS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story
• Construction: Frame construction
• Exterior features: Composition/Shingle roof

Interior

• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Laminate and tile flooring; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.8% in Charleston — 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 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piedmont Year-Round Education (math 17% / reading 22%, grade F, #350 of 377 statewide, top 95%, 258 students, 0% FRL); Horace Mann Middle School (math 35% / reading 42%, grade F, #23 of 109 statewide, top 21%, 399 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 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: 61 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.95%
• DSCR: 1.80
• GRM: 5.9

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $14,693
• Equity at exit: $20,874

10-year hold

• IRR: 18.7%
• Equity multiple: 2.56×
• Total profit: $61,009
• Equity at exit: $12,105

Cash invested: $39,200 (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 25311

• Home prices YoY: -12.5%
• Active inventory: 61
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,967 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $586

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,966
Total (2 units)			$1,967

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-12
   status $140,000 Pending 25 DOM
2. 2026-06-09
   days on market $140,000 Active 25 DOM
3. 2026-06-08
   days on market $140,000 Active 24 DOM
4. 2026-06-07
   days on market $140,000 Active 23 DOM
5. 2026-06-05
   days on market $140,000 Active 20 DOM
6. 2026-06-03
   days on market $140,000 Active 19 DOM
7. 2026-06-02
   days on market $140,000 Active 18 DOM
8. 2026-06-01
   days on market $140,000 Active 17 DOM
9. 2026-05-31
   days on market $140,000 Active 16 DOM
10. 2026-05-30
    days on market $140,000 Active 15 DOM
11. 2026-05-15
    listed $140,000 Active
12. 2026-05-12
    listed $140,000 Active 992-char remark

    Show marketing remark (992 chars)

    Investment opportunity in a prime Charleston location! This versatile duplex at offers endless possibilities for investors, business owners, or owner-occupants. Live in one unit while the second unit helps offset your mortgage, or utilize one side as a professional office space with excellent accessibility and visibility. The property features two separate 2-bedroom, 1-bath units, with the downstairs unit being handicap accessible and completely updated for modern comfort and convenience. The lower level also includes basement storage, providing additional space for inventory, equipment, or tenant use. Conveniently located near shopping and everyday essentials, including a nearby dollar store, this property offers easy access for tenants, clients, or employees. Whether you are looking to expand your investment portfolio, operate a small business, or enjoy the flexibility of owner-occupied income property, this duplex is a unique opportunity in Charleston’s growing market.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,604
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$4,073
• Taxable income: $5,112
• Est. tax owed @ 24.0%: −$1,227
• After-tax cash flow: $5,810/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.

Condition & rehab AI · 14 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated multi-family home in a prime location offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Resale Painting the exterior siding and roof — Fresh paint can enhance curb appeal and property value.
• Resale Landscaping improvements — A well-maintained lawn and landscaping can attract more buyers.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding and roof — Fresh paint can enhance curb appeal and property value. ↑
• Resale Landscaping improvements — A well-maintained lawn and landscaping can attract more buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kanawha County Schools
• NCES district ID: 5400600
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $44,329
• Composite: 29.35/100
• National rank: #6540
• State rank: #17 of 55 in WV

Livability — Charleston

• Score: 85/100
• State rank: #3
• US rank: #524

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, WV
• City population: 33,502
• Population (ZIP): 9,613

Population outlook (Kanawha County) Hauer SSP2

• Today (2025): 178,946 people
• By 2030: 172,906 · -3.4%
• By 2040: 159,874 · -10.7%
• By 2050: 148,148 · -17.2%
• By 2075: 123,257 · -31.1%
• By 2100: 96,454 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 6%
• Common ancestry: Italian 3% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Kanawha

• 2024 margin: R (+17.4) · D 40.2% · R 57.6% · Other 2.2%
• 2008→2024 swing: -17.0pp toward R · 2008: -0.4pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.7 2016: R+20.6 2012: R+11.9 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.77%
• Current HPI: 166.032
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-15 Listed $140,000 KVBOR
• 2026-05-12 Listed $140,000 KVBOR