11 Water St · Richwood, WV 26261

$19,900

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 91 Days on market

Built 1901 3,920 sqft lot $12/sqft · 69% below area

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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
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This stream side home is located in a Fishermans paradise. Sit on the covered front porch of this 2 story home only a stones through from the Cherry River just across the street. Restore this Large 2 story home with huge family room and all bedrooms with walk in closets back to its former beauty. Family room with woodstove, separate dining room off kitchen and Master bedroom with vaulted ceilings. Metal roof, rear covered deck andfenced back yard. Home equiped with a Generac electric generator. A Conveneint location close to many notorious state fishing streams, hunting and snow ski areas could provide Air B & B potential. SOLD "AS IS" where is for CASH with no seller disclosures. Seller has no knowledge.

Key facts

• Covered front porch
• Separate dining room
• Huge family room

Tags

• COVERED FRONT PORCH
• HUGE FAMILY ROOM
• WALK IN CLOSETS
• WOODSTOVE
• SEPARATE DINING ROOM
• VAULTED CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#251 in WV) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Nicholas County Schools (rural): math 23% / reading 34% proficiency, ranked #38 of 55 in WV (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 2 units permitted in Nicholas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $282 of equity ($138 loan paydown + $144 appreciation (0.7% local appreciation)).
• Nicholas County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1901 — 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 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: 5.63% ✓
• Cap rate: 50.95%
• Cash-on-cash: 159.49%
• DSCR: 8.10
• GRM: 1.5

CMA / ARV

• ARV (median comp): $63,853
• List price: $19,900
• Delta: -68.83%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Cherry St	0.04mi	3/2.0	1,796 (+12%)	18mo	$95,000	$53	63
79 Oakford Ave	0.57mi	3/1.5	1,400 (-12%)	14mo	$62,000	$44	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 70.8%
• Equity multiple: 4.66×
• Total profit: $20,390
• Equity at exit: $6,510

10-year hold

• IRR: 72.2%
• Equity multiple: 9.63×
• Total profit: $48,073
• Equity at exit: $8,436

Cash invested: $5,572 (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 26261

• Home prices YoY: 0.4%
• Active inventory: 2
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$31 /mo · $374/yr
• Insurance: −$8
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $314

Break-even live

Break-even rent $722

Max offer price $19,900

Occupancy floor 67%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $19,900 Active 91 DOM
2. 2026-06-17
   days on market $19,900 Active 90 DOM
3. 2026-06-16
   days on market $19,900 Active 89 DOM
4. 2026-06-15
   days on market $19,900 Active 88 DOM
5. 2026-06-15
   days on market $19,900 Active 87 DOM
6. 2026-06-13
   days on market $19,900 Active 86 DOM
7. 2026-06-12
   days on market $19,900 Active 85 DOM
8. 2026-06-09
   days on market $19,900 Active 82 DOM
9. 2026-06-08
   days on market $19,900 Active 81 DOM
10. 2026-06-08
    days on market $19,900 Active 80 DOM
11. 2026-06-07
    days on market $19,900 Active 79 DOM
12. 2026-06-04
    days on market $19,900 Active 77 DOM
13. 2026-06-03
    days on market $19,900 Active 76 DOM
14. 2026-06-02
    days on market $19,900 Active 75 DOM
15. 2026-06-01
    days on market $19,900 Active 74 DOM
16. 2026-05-31
    days on market $19,900 Active 73 DOM
17. 2026-03-18
    listed $19,900 Active 728-char remark

    Show marketing remark (728 chars)

    This stream side home is located in a Fishermans paradise. Sit on the covered front porch of this 2 story home only a stones through from the Cherry River just across the street. Restore this Large 2 story home with huge family room and all bedrooms with walk in closets back to its former beauty. Family room with woodstove, separate dining room off kitchen and Master bedroom with vaulted ceilings. Metal roof, rear covered deck andfenced back yard. Home equiped with a Generac electric generator. A Conveneint location close to many notorious state fishing streams, hunting and snow ski areas could provide Air B & B potential. SOLD "AS IS" where is for CASH with no seller disclosures. Seller has no knowledge.

18. 2020-01-09
    soldstatus $63,000
19. 2019-07-08
    soldstatus $63,000

ⓘ 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: $374 · $31/mo
• Projected year-2 tax: $374 · $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 AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 9 d/yr ≥89°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $13,435
• − Mortgage interest: −$1,115
• − Property taxes: −$374
• − Insurance: −$5,218
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$579
• Taxable income: $3,999
• Est. tax owed @ 24.0%: −$960
• After-tax cash flow: $2,809/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: Nicholas County Schools
• NCES district ID: 5401020
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $38,510
• Composite: 23.82/100
• National rank: #7808
• State rank: #38 of 55 in WV

Livability — Richwood

• Score: 57/100
• State rank: #251
• US rank: #21831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richwood, WV
• Population (ZIP): 3,115

Population outlook (Nicholas County) Hauer SSP2

• Today (2025): 23,901 people
• By 2030: 22,736 · -4.9%
• By 2040: 20,345 · -14.9%
• By 2050: 18,161 · -24.0%
• By 2075: 13,762 · -42.4%
• By 2100: 9,924 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Asian 1%
• Common ancestry: Iranian 7% Lithuanian 5% Slovak 2%
• Foreign-born: 1% · South Korea
• Languages at home: 98% English-only · Tagalog/Filipino 1%

Political lean MEDSL · Nicholas

• 2024 margin: Solid R (+60.2) · D 19.1% · R 79.3% · Other 1.6%
• 2008→2024 swing: -55.4pp toward R · 2008: -4.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+56.9 2016: R+57.0 2012: R+36.8 2008: R+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.72%
• Current HPI: 180.5379
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-68.4% since first listed

3 events — show timeline

• 2026-03-18 Listed $19,900 KVBOR
• 2020-01-09 Sold (Public Records) $63,000 Public Records
• 2019-07-08 Sold (Public Records) $63,000 Public Records

Property tax history

+13.2%/yr

Latest (2025): $374 · +1.1% YoY. Source: county tax records.