2306 Lane D · Wheeling, WV 26003

$49,500

2 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 19 Days on market

Built 1925 2,614 sqft lot Est $74k · 33% under

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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
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice little fixer upper for your own home or as an Investment for Rental Income. Needs work and TLC, but good structure. Newer Windows. Very close to Center Market with shopping and Restaurants. Seller is selling AS IS. Must see to appreciate it's Potential. .. Priced to Sell.

Key facts

• Versatile property
• Generous storage
• Spacious attic

Tags

• SPACIOUS ATTIC
• GENEROUS STORAGE
• VERSATILE PROPERTY

Property features AI

Exterior

• Parking: Street parking (parking available on 23rd Street)
• Utilities: Public water; Public sewer
• Home design: Single family residence (Traditional); 2 stories
• Construction: Vinyl siding; Shingle roof
• Exterior features: Level lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Ceiling fan cooling
• Interior features: Electric water heater; Fireplace (2 total); Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($766 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 4.3% in Wheeling — 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 69/100 on livability (#74 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Ohio County Schools (urban): math 34% / reading 49% proficiency, ranked #5 of 55 in WV (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 228 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($58k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Ohio 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 $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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.
• Current owner paid $20k; list at $50k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,757 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 13.43%
• Cash-on-cash: 25.47%
• DSCR: 2.13
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $73,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3115 Jacob St	0.54mi	2/1.0	1,260 (+2%)	5mo	$14,000	$11	67
57950 Kilgore St	0.67mi	3/1.0 (+1)	1,216 (-1%)	1mo	$95,000	$78	61
136 Pierce St	0.52mi	2/1.0	1,170 (-5%)	24mo	$69,900	$60	47

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.52×
• Total profit: $7,231
• Equity at exit: $7,381

10-year hold

• IRR: 22.0%
• Equity multiple: 2.88×
• Total profit: $26,074
• Equity at exit: $4,280

Cash invested: $13,860 (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 26003

• Home prices YoY: -23.4%
• Rents YoY: 3.0%
• Active inventory: 228
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $766 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$31 /mo · $370/yr
• Insurance: −$21
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $239

Break-even live

Break-even rent $464

Max offer price $49,500

Occupancy floor 64%

Sensitivity live

Price	-10% $267	-5% $253	+0% $239	+5% $225	+10% $211
Rent	-10% $178	-5% $208	+0% $239	+5% $269	+10% $299
Rate	-1.0pp $264	-0.5pp $251	base $239	+0.5pp $226	+1.0pp $213

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 16th St Wheeling, WV	1.0–3.0	1.0–2.0	1000	$9,156	$9.16	45d	1	0.39mi
10 Mayo St Wheeling, WV	2.0	1.5	800	$606	$0.76	45d	3	0.63mi
15 39th St Wheeling, WV	1.0	1.0	848	$790	$0.93	45d	1	1.04mi
8 5th St Wheeling, WV	2.0	1.5	801	$824	$1.03	45d	1	1.23mi

Listing history 14 events

1. 2026-06-21
   days on market $49,500 Active 19 DOM
2. 2026-06-19
   days on market $49,500 Active 17 DOM
3. 2026-06-18
   days on market $49,500 Active 16 DOM
4. 2026-06-17
   days on market $49,500 Active 15 DOM
5. 2026-06-16
   days on market $49,500 Active 14 DOM
6. 2026-06-15
   days on market $49,500 Active 13 DOM
7. 2026-06-14
   days on market $49,500 Active 11 DOM
8. 2026-06-12
   days on market $49,500 Active 10 DOM
9. 2026-06-09
   days on market $49,500 Active 7 DOM
10. 2026-06-08
    days on market $49,500 Active 6 DOM
11. 2026-06-07
    days on market $49,500 Active 5 DOM
12. 2026-06-05
    days on market $49,500 Active 2 DOM
13. 2026-06-03
    remarks 681-char remark
14. 2026-06-03
    listed $49,500 Active 1 DOM

ⓘ 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: $370 · $31/mo
• Projected year-2 tax: $370 · $31/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥95°F today · 20 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: $9,194
• − Mortgage interest: −$2,773
• − Property taxes: −$370
• − Insurance: −$914
• − Repairs & maintenance: −$736
• − Management: −$736
• − Depreciation: −$1,440
• Taxable income: $2,226
• Est. tax owed @ 24.0%: −$534
• After-tax cash flow: $2,330/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: Ohio County Schools
• NCES district ID: 5401050
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $41,572
• Composite: 34.88/100
• National rank: #5085
• State rank: #5 of 55 in WV

Livability — Wheeling

• Score: 69/100
• State rank: #74
• US rank: #8950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, WV
• County: Ohio County · 39,982 people
• City population: 39,982
• Metro: Wheeling, WV-OH
• Population (ZIP): 39,982
• Household income: $57,703
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1630.0

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 40,604 people
• By 2030: 39,150 · -3.6%
• By 2040: 36,039 · -11.2%
• By 2050: 33,582 · -17.3%
• By 2075: 28,662 · -29.4%
• By 2100: 22,963 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ohio

• 2024 margin: Strong R (+26.0) · D 36.0% · R 62.0% · Other 2.0%
• 2008→2024 swing: -15.3pp toward R · 2008: -10.8pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+25.8 2016: R+31.6 2012: R+22.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.09%
• Current HPI: 223.4106
• Rent YoY: ▲ 3.03%
• Metro: Wheeling, WV-OH
• State GDP YoY: —
• F500 in state: 0

Price history

+98.8% since first listed

9 events — show timeline

• 2026-06-02 Listed $49,500 WBOR
• 2024-07-11 Price Changed $44,950 WBOR
• 2023-01-10 Sold (Public Records) $20,000 Public Records
• 2023-01-10 Sold (MLS) $20,000 WBOR
• 2022-11-05 Listed $25,000 WBOR
• 2016-10-14 Sold (MLS) $23,500 WBOR
• 2016-07-26 Listed $34,900 WBOR
• 2009-03-16 Sold (MLS) $19,000 WBOR
• 2008-08-27 Listed $24,900 WBOR

Property tax history

+2.1%/yr

Latest (2025): $370 · +4.7% YoY. Source: county tax records.