1123 Virginia Ave · Fairmont, WV 26554

$104,900

3 bd · 2.0 ba · 2,031 sqft · MultiFamily public records · 144 Days on market

Built 1907 2,275 sqft lot Est $116k · 9% under ↓ 25% 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 +11.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• 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

Two unit apartment building located in convenient west side location. Unit 1 is 4 bedrooms and 2 baths, unit 2 is an efficiency apartment. Both units are currently rented and tenants pay their own electric and gas. City Rental certificates are current. 24 hour notice to show required.

Key facts

• 2,275 sq ft lot
• Built 1907
• Listed 143 days

Property features AI

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: Aluminum siding and frame construction; Shingle roof; Has basement
• Exterior features: Porch; Level lot

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 4 bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Refrigerator; Range; Laminate flooring; Partial unfinished basement; Has heating

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 4.1% 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: Watson Elementary School (math 22% / reading 27%, grade F, #287 of 377 statewide, top 85%, 415 students, 0% FRL); West Fairmont Middle School (math 27% / reading 41%, grade F, #36 of 109 statewide, top 35%, 629 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: 150 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 $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1907 — 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 $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1907 — 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: 1.83% ✓
• Cap rate: 15.05%
• Cash-on-cash: 31.26%
• DSCR: 2.39
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $115,767
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1531 -1531 1/2 Mary Lou Retton Dr	0.67mi	4/2.0 (+1)	2,068 (+2%)	20mo	$118,000	$57	44

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: 26.1%
• Equity multiple: 2.08×
• Total profit: $31,786
• Equity at exit: $15,641

10-year hold

• IRR: 33.8%
• Equity multiple: 4.09×
• Total profit: $90,626
• Equity at exit: $9,070

Cash invested: $29,372 (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: 150
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,923 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $765

Break-even live

Break-even rent $954

Max offer price $104,900

Occupancy floor 55%

Sensitivity live

Price	-10% $825	-5% $795	+0% $765	+5% $736	+10% $706
Rent	-10% $613	-5% $689	+0% $765	+5% $841	+10% $917
Rate	-1.0pp $818	-0.5pp $792	base $765	+0.5pp $738	+1.0pp $710

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,922
Total (2 units)			$1,923

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $104,900 Active 144 DOM
2. 2026-06-19
   days on market $104,900 Active 142 DOM
3. 2026-06-18
   days on market $104,900 Active 141 DOM
4. 2026-06-17
   days on market $104,900 Active 140 DOM
5. 2026-06-16
   days on market $104,900 Active 139 DOM
6. 2026-06-15
   days on market $104,900 Active 138 DOM
7. 2026-06-14
   days on market $104,900 Active 136 DOM
8. 2026-06-13
   days on market $104,900 Active 135 DOM
9. 2026-06-10
   days on market $104,900 Active 133 DOM
10. 2026-06-09
    days on market $104,900 Active 132 DOM
11. 2026-06-08
    days on market $104,900 Active 131 DOM
12. 2026-06-07
    days on market $104,900 Active 130 DOM
13. 2026-06-02
    days on market $104,900 Active 125 DOM
14. 2026-06-01
    days on market $104,900 Active 124 DOM
15. 2026-05-31
    days on market $104,900 Active 123 DOM
16. 2026-05-30
    days on market $104,900 Active 122 DOM
17. 2026-05-07
    price $104,900
18. 2026-03-12
    price $119,900
19. 2026-01-28
    listed $139,900 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: $1,922 · $160/mo
• Projected year-2 tax: $1,922 · $160/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 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,076
• − Mortgage interest: −$5,876
• − Property taxes: −$1,922
• − Insurance: −$524
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$3,052
• Taxable income: $8,010
• Est. tax owed @ 24.0%: −$1,922
• After-tax cash flow: $7,260/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

-25.0% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $104,900 NCWVREIN
• 2026-03-12 Price Changed $119,900 NCWVREIN
• 2026-01-28 Listed $139,900 NCWVREIN

Property tax history

+3.5%/yr

Latest (2025): $1,922 · +4.5% YoY. Source: county tax records.