231 Watson · Fairmont, WV 26554

$130,000

3 bd · 3.0 ba · 2,404 sqft · MultiFamily public records · 84 Days on market

Built 1908 5,998 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Fully rented multi-unit investment opportunity with separate utilities! This income-producing property offers immediate cash flow and strong rental history. Each unit features its own utilities, providing convenience for tenants and lower overhead for the owner. The property offers classic charm with a welcoming front porch and a functional layout that appeals to renters. Situated in a convenient location close to local amenities, this is a great addition to any investment portfolio—whether you’re a seasoned investor or just getting started. Don’t miss your chance to own a turnkey, fully occupied property with built-in income from day one!

Key facts

• Separate utilities
• Functional layout
• Convenient location

Tags

• SEPARATE UTILITIES
• INCOME-PRODUCING PROPERTY
• STRONG RENTAL HISTORY
• WELCOMING FRONT PORCH
• FUNCTIONAL LAYOUT
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: On-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; 2-story building; 2-4 family subtype; Irregular lot shape; Neighborhood residential zoning
• Construction: Frame construction with vinyl siding; Shingle roof
• Exterior features: Front porch; Sloped lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 1-bedroom units; One 2-bedroom unit
• Flooring: Tile; Wood
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Refrigerator and range included; Tile and wood flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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: Jayenne Elementary School (math 47% / reading 47%, grade D-, #63 of 377 statewide, top 18%, 300 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: 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 $899 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $130k implies a 767% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.62% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.35%
• DSCR: 2.13
• GRM: 5.2

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: 18.9%
• Equity multiple: 1.77×
• Total profit: $27,935
• Equity at exit: $19,383

10-year hold

• IRR: 27.3%
• Equity multiple: 3.40×
• Total profit: $87,495
• Equity at exit: $11,240

Cash invested: $36,400 (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: 10.3×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $769

Break-even live

Break-even rent $1,127

Max offer price $130,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,100
Total (2 units)			$2,100

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $130,000 Active 84 DOM
2. 2026-06-18
   days on market $130,000 Active 83 DOM
3. 2026-06-17
   days on market $130,000 Active 82 DOM
4. 2026-06-16
   days on market $130,000 Active 81 DOM
5. 2026-06-15
   days on market $130,000 Active 80 DOM
6. 2026-06-14
   days on market $130,000 Active 78 DOM
7. 2026-06-13
   pricedays on market $130,000 Active 77 DOM
8. 2026-06-10
   days on market $159,000 Active 75 DOM
9. 2026-06-09
   days on market $159,000 Active 74 DOM
10. 2026-06-08
    days on market $159,000 Active 73 DOM
11. 2026-06-07
    days on market $159,000 Active 72 DOM
12. 2026-06-02
    days on market $159,000 Active 67 DOM
13. 2026-06-01
    days on market $159,000 Active 66 DOM
14. 2026-05-31
    days on market $159,000 Active 65 DOM
15. 2026-05-30
    days on market $159,000 Active 64 DOM
16. 2026-05-07
    status Active
17. 2026-03-31
    historical Active Under Contract
18. 2026-03-28
    listed $159,000 Active
19. 2006-09-18
    soldstatus $15,000
20. 2000-10-12
    soldstatus $25,000

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,850 · $154/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 ≥99°F today · 19 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: $25,200
• − Mortgage interest: −$7,282
• − Property taxes: −$1,850
• − Insurance: −$650
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$3,782
• Taxable income: $7,604
• Est. tax owed @ 24.0%: −$1,825
• After-tax cash flow: $7,402/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

+536.0% since first listed

5 events — show timeline

• 2026-05-07 Relisted — NCWVREIN
• 2026-03-31 Contingent — NCWVREIN
• 2026-03-28 Listed $159,000 NCWVREIN
• 2006-09-18 Sold (Public Records) $15,000 Public Records
• 2000-10-12 Sold (Public Records) $25,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,850 · +4.5% YoY. Source: county tax records.