229 Watson Ave · Fairmont, WV 26554

$89,900

3 bd · 3.0 ba · 2,503 sqft · MultiFamily public records · 40 Days on market

Built 1902 5,998 sqft lot ↓ 8% since listing

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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: 3 units. confirmed

Listing remarks

Charming triplex full of opportunity! This 3-unit property features classic charm and strong potential for investors or owner-occupants looking to restore. The home offers generous living spaces. Large covered front porch and mature surroundings, this property is ready for someone with vision to bring it back to life. Conveniently located near local amenities. Property is being sold as-is.

Key facts

• Triplex
• 3-unit property
• 5,998 sq ft lot

Tags

• TRIPLEX
• 3-UNIT PROPERTY
• LARGE COVERED FRONT PORCH

Property features AI

Finance

• Other: Property used as residential income (multi-family)

Exterior

• Parking: On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Multi-family (2-4 units); 2-story
• Construction: Frame construction; Wood siding; Shingle roof
• Exterior features: Porch; Chain link fencing; Sloped lot; Irregular lot shape

Interior

• Kitchen: Refrigerator; Range
• Flooring: Laminate
• Heating & cooling: Space heater; Window unit(s) for cooling
• Interior features: Refrigerator; Range; Laminate flooring; Full unfinished basement; Window cooling units; Space heater; Smoke detectors

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $462/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.8% 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 2.89% ✓
• Cap rate: 24.80%
• Cash-on-cash: 66.09%
• DSCR: 3.94
• GRM: 2.9

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: 65.4%
• Equity multiple: 3.93×
• Total profit: $73,791
• Equity at exit: $13,404

10-year hold

• IRR: 69.7%
• Equity multiple: 8.08×
• Total profit: $178,219
• Equity at exit: $7,773

Cash invested: $25,172 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,599 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$158 /mo · $1,897/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $1,386

Break-even live

Break-even rent $844

Max offer price $89,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,598
Total (3 units)			$2,599

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $89,900 Active 40 DOM
2. 2026-06-18
   days on market $89,900 Active 39 DOM
3. 2026-06-17
   days on market $89,900 Active 38 DOM
4. 2026-06-16
   days on market $89,900 Active 37 DOM
5. 2026-06-15
   days on market $89,900 Active 36 DOM
6. 2026-06-14
   days on market $89,900 Active 34 DOM
7. 2026-06-13
   pricedays on market $89,900 Active 33 DOM
8. 2026-06-10
   days on market $111,000 Active 31 DOM
9. 2026-06-09
   days on market $111,000 Active 30 DOM
10. 2026-06-08
    days on market $111,000 Active 29 DOM
11. 2026-06-07
    days on market $111,000 Active 28 DOM
12. 2026-06-02
    days on market $111,000 Active 23 DOM
13. 2026-06-01
    days on market $111,000 Active 22 DOM
14. 2026-05-31
    days on market $111,000 Active 21 DOM
15. 2026-05-30
    days on market $111,000 Active 20 DOM
16. 2026-05-11
    price $111,000
17. 2026-05-10
    listed $120,000 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: $1,897 · $158/mo
• Projected year-2 tax: $1,897 · $158/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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,188
• − Mortgage interest: −$5,036
• − Property taxes: −$1,897
• − Insurance: −$450
• − Repairs & maintenance: −$2,495
• − Management: −$2,495
• − Depreciation: −$2,615
• Taxable income: $16,201
• Est. tax owed @ 24.0%: −$3,888
• After-tax cash flow: $12,747/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

-7.5% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $111,000 NCWVREIN
• 2026-05-10 Listed $120,000 NCWVREIN

Property tax history

+1.4%/yr

Latest (2025): $1,897 · +29.6% YoY. Source: county tax records.