621 Alma St · Morgantown, WV 26501

$169,000

2 bd · 1.0 ba · 1,308 sqft · SingleFamily public records · 118 Days on market

Built 1928 2,788 sqft lot $129/sqft · 18% below area Est $196k · 14% under

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Why this score? — see what drove the D- 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).

• ARV discount +13.7/15.0
• Cash flow +7.2/30.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

Key facts

• Original built-ins
• Full bath
• Updated kitchen

Tags

• HARDWOOD FLOORS
• ORIGINAL BUILT-INS
• UPDATED KITCHEN
• AMPLE CABINET SPACE
• FULL BATH
• FULLY ACCESSIBLE ATTIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (35.9% below list).
• Recommended offer: $108k (35.9% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.1% in Morgantown — 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 84/100 on livability (#5 in WV, #674 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, employment D-.
• Monongalia County Schools (urban): math 45% / reading 53% proficiency, ranked #1 of 55 in WV (top 2%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.4%/yr); 129 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Monongalia County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $169k implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,392 (35.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.90%
• DSCR: 0.74
• GRM: 13.0

CMA / ARV

• ARV (median comp): $195,934
• List price: $169,000
• Delta: -13.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Brockway Ave	0.15mi	2/1.0	1,261 (-4%)	11mo	$225,000	$178	78
216 Reay Aly	0.17mi	3/2.0 (+1)	1,272 (-3%)	12mo	$269,000	$211	68
608 Alma	0.03mi	3/2.0 (+1)	1,488 (+14%)	1mo	$206,000	$138	66
925 Garrison	0.66mi	3/2.0 (+1)	1,303 (-0%)	1mo	$215,000	$165	59
379 Spencer Ave	0.51mi	2/2.0	1,440 (+10%)	1mo	$130,000	$90	55
1041 Montrose Ave	0.72mi	2/2.0	1,361 (+4%)	1mo	$155,000	$114	54
824 Monongalia Ave	0.52mi	3/2.0 (+1)	1,426 (+9%)	1mo	$320,000	$224	51
265 Waitman St	0.73mi	3/2.0 (+1)	1,273 (-3%)	6mo	$197,500	$155	47
701 Sherman Ave	0.55mi	3/2.0 (+1)	1,400 (+7%)	9mo	$299,000	$214	46
913 Ridgeway Ave	0.58mi	3/1.0 (+1)	1,200 (-8%)	10mo	$215,000	$179	46
824 Louise Ave	0.52mi	3/2.0 (+1)	1,500 (+15%)	4mo	$260,000	$173	40
933 Willey St	0.73mi	3/1.0 (+1)	1,492 (+14%)	12mo	$220,000	$147	28

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.07×
• Total profit: $-43,937
• Equity at exit: $25,198

10-year hold

• IRR: -33.6%
• Equity multiple: -0.36×
• Total profit: $-64,222
• Equity at exit: $14,612

Cash invested: $47,320 (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 26501

• Home prices YoY: -30.1%
• Rents YoY: 1.4%
• Active inventory: 129
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-233

Break-even live

Break-even rent $1,379

Max offer price $127,885

Occupancy floor —

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-05
   days on market $169,000 Active 118 DOM
2. 2026-06-03
   days on market $169,000 Active 117 DOM
3. 2026-06-02
   days on market $169,000 Active 116 DOM
4. 2026-06-01
   days on market $169,000 Active 115 DOM
5. 2026-05-31
   days on market $169,000 Active 114 DOM
6. 2026-05-30
   days on market $169,000 Active 113 DOM
7. 2026-04-30
   price $169,000 694-char remark

   Show marketing remark (694 chars)

   Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

8. 2026-03-18
   price $172,500 694-char remark

   Show marketing remark (694 chars)

   Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

9. 2026-03-10
   status Active 694-char remark

   Show marketing remark (694 chars)

   Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

10. 2026-02-19
    historical Active Under Contract 694-char remark

    Show marketing remark (694 chars)

    Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

11. 2026-02-06
    listed $182,500 Active 694-char remark

    Show marketing remark (694 chars)

    Welcome to this home located in the friendly Greenmont neighborhood. The living room boasts hardwood floors and original built-ins. An updated kitchen offers a practical layout with ample cabinet space, while the freshly painted dining room provides a warm, welcoming space for entertainment. A full bath on the first floor adds everyday comfort and convenience. A fully accessible attic is waiting to be finished. With new siding installed in 2025, a new deck in 2024, this home is ready for your personal finishing touches. Enjoy easy access to nearby parks, trails, and the convenience of downtown just minutes away. Don’t miss the opportunity to make this wonderful location your own.

12. 2002-10-23
    soldstatus $51,000
13. 2001-01-30
    soldstatus $57,000

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $1,588 · $132/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 ≥97°F today · 19 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: $13,007
• − Mortgage interest: −$9,467
• − Property taxes: −$1,588
• − Insurance: −$845
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$4,916
• Taxable loss: −$5,890
• Est. tax savings @ 24.0%: +$1,414
• After-tax cash flow: $-1,379/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: Monongalia County Schools
• NCES district ID: 5400930
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $43,820
• Composite: 41.34/100
• National rank: #3503
• State rank: #1 of 55 in WV

Livability — Morgantown

• Score: 84/100
• State rank: #5
• US rank: #674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgantown, WV
• County: Monongalia County · 97,252 people
• City population: 97,252
• Metro: Morgantown, WV
• Population (ZIP): 19,529
• Household income: $63,529
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 595.0

Population outlook (Monongalia County) Hauer SSP2

• Today (2025): 122,188 people
• By 2030: 131,536 · +7.7%
• By 2040: 149,777 · +22.6%
• By 2050: 168,245 · +37.7%
• By 2075: 207,979 · +70.2%
• By 2100: 239,430 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Monongalia

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.7%
• 2008→2024 swing: -8.2pp toward R · 2008: 3.9pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.2 2016: R+10.4 2012: R+9.7 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.15%
• Current HPI: 220.911
• Rent YoY: ▲ 1.42%
• Metro: Morgantown, WV
• State GDP YoY: —
• F500 in state: 0

Price history

+196.5% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $169,000 NCWVREIN
• 2026-03-18 Price Changed $172,500 NCWVREIN
• 2026-03-10 Relisted — NCWVREIN
• 2026-02-19 Contingent — NCWVREIN
• 2026-02-06 Listed $182,500 NCWVREIN
• 2002-10-23 Sold (Public Records) $51,000 Public Records
• 2001-01-30 Sold (Public Records) $57,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,588 · +0.2% YoY. Source: county tax records.