2193 Falcon Dr · Charleston, WV 25387

$25,000

3 bd · 1.0 ba · 739 sqft · SingleFamily public records · 82 Days on market

Built 1930

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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 +4.2/5.0
• Appreciation +3.6/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy quiet evenings from the cover deck overlooking a rustling stream. Loft style master bedroom. Walkout basement with possible 3rd bedroom. Updated bath and kitchen with stainless steel appliances. Excellent investment opportunity or own for less than rent. Inside City Limits and only minutes from downtown.

Key facts

• Built 1930
• Listed 81 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Residential single-family home
• Construction: Frame construction
• Exterior features: Composition/shingle roof

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Insulated windows; 7 total rooms; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 36.5% 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: Mary C. Snow West Side Elementary (math 12% / reading 12%, grade F, #375 of 377 statewide, top 99%, 353 students, 0% FRL); Andrew Jackson Middle School (math 23% / reading 41%, grade F, #46 of 109 statewide, top 46%, 512 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: 24 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 (-2.8%/yr); year-one equity from $173 of loan paydown is wiped out by about $700 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 (-2.8% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $14k; list at $25k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
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: 4.04% ✓
• Cap rate: 36.54%
• Cash-on-cash: 108.03%
• DSCR: 5.81
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 99.7%
• Equity multiple: 5.69×
• Total profit: $32,804
• Equity at exit: $3,952

10-year hold

• IRR: —
• Equity multiple: 11.87×
• Total profit: $76,062
• Equity at exit: $2,549

Cash invested: $7,000 (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 25387

• Home prices YoY: -1.3%
• Active inventory: 24
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$27 /mo · $323/yr
• Insurance: −$10
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $575

Break-even live

Break-even rent $284

Max offer price $25,000

Occupancy floor 38%

Sensitivity live

Price	-10% $589	-5% $582	+0% $575	+5% $568	+10% $560
Rent	-10% $495	-5% $535	+0% $575	+5% $615	+10% $654
Rate	-1.0pp $587	-0.5pp $581	base $575	+0.5pp $568	+1.0pp $562

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $25,000 Active 82 DOM
2. 2026-06-19
   days on market $25,000 Active 80 DOM
3. 2026-06-18
   days on market $25,000 Active 79 DOM
4. 2026-06-17
   days on market $25,000 Active 78 DOM
5. 2026-06-16
   days on market $25,000 Active 77 DOM
6. 2026-06-15
   days on market $25,000 Active 76 DOM
7. 2026-06-14
   days on market $25,000 Active 74 DOM
8. 2026-06-12
   days on market $25,000 Active 73 DOM
9. 2026-06-09
   days on market $25,000 Active 70 DOM
10. 2026-06-08
    days on market $25,000 Active 69 DOM
11. 2026-06-07
    days on market $25,000 Active 68 DOM
12. 2026-06-05
    days on market $25,000 Active 65 DOM
13. 2026-06-03
    days on market $25,000 Active 64 DOM
14. 2026-06-02
    days on market $25,000 Active 63 DOM
15. 2026-06-01
    days on market $25,000 Active 62 DOM
16. 2026-05-31
    days on market $25,000 Active 61 DOM
17. 2026-05-30
    days on market $25,000 Active 60 DOM
18. 2026-03-27
    listed $25,000 Active
19. 2022-04-18
    listed $24,000
20. 2017-06-12
    soldstatus $14,000 311-char remark

    Show marketing remark (311 chars)

    Enjoy quiet evenings from the cover deck overlooking a rustling stream. Loft style master bedroom. Walkout basement with possible 3rd bedroom. Updated bath and kitchen with stainless steel appliances. Excellent investment opportunity or own for less than rent. Inside City Limits and only minutes from downtown.

21. 2017-03-10
    listed $19,900 311-char remark

    Show marketing remark (311 chars)

    Enjoy quiet evenings from the cover deck overlooking a rustling stream. Loft style master bedroom. Walkout basement with possible 3rd bedroom. Updated bath and kitchen with stainless steel appliances. Excellent investment opportunity or own for less than rent. Inside City Limits and only minutes from downtown.

22. 1983-06-30
    soldstatus $9,000

ⓘ 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: $323 · $27/mo
• Projected year-2 tax: $323 · $27/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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,131
• − Mortgage interest: −$1,400
• − Property taxes: −$323
• − Insurance: −$792
• − Repairs & maintenance: −$970
• − Management: −$970
• − Depreciation: −$727
• Taxable income: $6,948
• Est. tax owed @ 24.0%: −$1,667
• After-tax cash flow: $5,228/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: 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): 5,173

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 (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 14% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 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: ▼ -2.80%
• Current HPI: 212.6658
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+177.8% since first listed

5 events — show timeline

• 2026-03-27 Listed $25,000 KVBOR
• 2022-04-18 Listed $24,000 KVBOR
• 2017-06-12 Sold (MLS) $14,000 KVBOR
• 2017-03-10 Listed $19,900 KVBOR
• 1983-06-30 Sold (Public Records) $9,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $323 · +0.0% YoY. Source: county tax records.