2427 Washington St · Charleston, WV 25387

$13,900

2 bd · 1.0 ba · 928 sqft · Other · 96 Days on market

Built 1920 3,920 sqft lot ↓ 52% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor opportunity! This property includes a 928 sq ft single-family home plus a separate 1,664 sq ft apartment building with two units, offering strong income potential. The house features 2 bedrooms and 1 bath, while each apartment is configured for 2 bedrooms. Renovations are underway, with some drywall and electrical work already completed. Bring your vision and finish to your specifications to maximize returns. Property is being sold as-is.

Key facts

• Renovations underway
• 3,920 sq ft lot
• Built 1920

Tags

• STRONG INCOME POTENTIAL
• RENOVATIONS UNDERWAY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; 1 story reported
• Construction: Aluminum siding and stucco exterior
• Exterior features: Lot approximately 0.09 acres; Lot dimensions approximately 100 x 100 x 100 x 100

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Other type of heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $14k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $14k).
• Recommended offer: $13k (9.0% below list) — sets the bar for market timing.
• Cap rate 58.7% 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: Grandview Elementary School (math 12% / reading 22%, grade F, #363 of 377 statewide, top 97%, 172 students, 0% FRL); West Side Middle School (math 7% / reading 18%, grade F, #109 of 109 statewide, top 100%, 377 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.
• Zoned-school proficiency averages 22% at this address vs 34% district-wide (-12 pts) — the specific schools serving this property underperform the Kanawha County Schools average; the district grade overstates school quality for this exact location.
• 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 $96 of loan paydown is wiped out by about $389 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; flood insurance adds $56/mo; built in 1920 — 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 $12,649 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 6.69% ✓
• Cap rate: 58.67%
• Cash-on-cash: 187.07%
• DSCR: 9.32
• GRM: 1.2

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: —
• Equity multiple: 9.49×
• Total profit: $33,038
• Equity at exit: $2,197

10-year hold

• IRR: —
• Equity multiple: 20.10×
• Total profit: $74,348
• Equity at exit: $1,417

Cash invested: $3,892 (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: 1.2×

Monthly cashflow live

• Estimated rent: $930 medium
• Mortgage (P&I): −$73
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$6
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $551

Break-even live

Break-even rent $232

Max offer price $13,900

Occupancy floor 36%

Sensitivity live

Price	-10% $559	-5% $555	+0% $551	+5% $547	+10% $543
Rent	-10% $478	-5% $514	+0% $551	+5% $588	+10% $625
Rate	-1.0pp $558	-0.5pp $555	base $551	+0.5pp $548	+1.0pp $544

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: $3,475
• Closing costs: $417
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-12
   statusdays on market $13,900 Pending 96 DOM
2. 2026-06-09
   days on market $13,900 Active 95 DOM
3. 2026-06-08
   days on market $13,900 Active 94 DOM
4. 2026-06-07
   days on market $13,900 Active 93 DOM
5. 2026-06-05
   days on market $13,900 Active 90 DOM
6. 2026-06-03
   days on market $13,900 Active 89 DOM
7. 2026-06-02
   days on market $13,900 Active 88 DOM
8. 2026-06-01
   days on market $13,900 Active 87 DOM
9. 2026-05-31
   days on market $13,900 Active 86 DOM
10. 2026-05-30
    days on market $13,900 Active 85 DOM
11. 2026-05-22
    price $15,500
12. 2026-05-19
    price $15,900
13. 2026-05-15
    price $17,000
14. 2026-05-14
    price $18,700
15. 2026-04-18
    price $18,900
16. 2026-04-07
    price $19,900
17. 2026-04-02
    price $22,500
18. 2026-03-27
    price $25,000
19. 2026-03-23
    price $27,500
20. 2026-03-17
    price $28,500
21. 2026-03-06
    listed $32,500 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: $593 · $49/mo
• Projected year-2 tax: $593 · $49/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 9/10 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: $11,162
• − Mortgage interest: −$779
• − Property taxes: −$593
• − Insurance: −$736
• − Repairs & maintenance: −$893
• − Management: −$893
• − Depreciation: −$404
• Taxable income: $6,864
• Est. tax owed @ 24.0%: −$1,647
• After-tax cash flow: $4,967/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

-52.3% since first listed

11 events — show timeline

• 2026-05-22 Price Changed $15,500 KVBOR
• 2026-05-19 Price Changed $15,900 KVBOR
• 2026-05-15 Price Changed $17,000 KVBOR
• 2026-05-14 Price Changed $18,700 KVBOR
• 2026-04-18 Price Changed $18,900 KVBOR
• 2026-04-07 Price Changed $19,900 KVBOR
• 2026-04-02 Price Changed $22,500 KVBOR
• 2026-03-27 Price Changed $25,000 KVBOR
• 2026-03-23 Price Changed $27,500 KVBOR
• 2026-03-17 Price Changed $28,500 KVBOR
• 2026-03-06 Listed $32,500 KVBOR

Property tax history

-1.4%/yr

Latest (2024): $593 · +5.7% YoY. Source: county tax records.