850 Larchmont Dr · Charleston, WV 25387

$38,000

3 bd · 1.5 ba · 1,397 sqft · SingleFamily public records · 25 Days on market

Built 1941

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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

This home is being renovated as we speak, so get it while it & acirc; & euro; & trade; s cheap. As is sell. Walk through by appointment only. Text anytime [phone]

Key facts

• Built 1941
• Listed 24 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (1.5% below list) — sets the bar for market timing.
• Cap rate 29.8% 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.
• 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 $263 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $13k; list at $38k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,430 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 3.27% ✓
• Cap rate: 29.80%
• Cash-on-cash: 83.96%
• DSCR: 4.74
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $135,509
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 21st St W	0.51mi	2/1.5 (-1)	1,368 (-2%)	4mo	$60,000	$44	64
2125 Zable Dr	0.49mi	3/2.0	1,315 (-6%)	22mo	$145,000	$110	47
816 North Hills Dr	0.38mi	4/2.0 (+1)	1,288 (-8%)	19mo	$125,000	$97	46
2604 5th Ave	0.42mi	2/1.0 (-1)	1,210 (-13%)	20mo	$60,000	$50	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 77.9%
• Equity multiple: 4.58×
• Total profit: $38,074
• Equity at exit: $6,007

10-year hold

• IRR: 81.3%
• Equity multiple: 9.47×
• Total profit: $90,073
• Equity at exit: $3,874

Cash invested: $10,640 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,241 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$21 /mo · $254/yr
• Insurance: −$16
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $689

Break-even live

Break-even rent $369

Max offer price $38,000

Occupancy floor 40%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $38,000 Active 25 DOM
2. 2026-06-18
   days on market $38,000 Active 24 DOM
3. 2026-06-17
   days on market $38,000 Active 23 DOM
4. 2026-06-16
   days on market $38,000 Active 22 DOM
5. 2026-06-15
   days on market $38,000 Active 21 DOM
6. 2026-06-14
   days on market $38,000 Active 19 DOM
7. 2026-06-12
   days on market $38,000 Active 18 DOM
8. 2026-06-09
   days on market $38,000 Active 15 DOM
9. 2026-06-08
   days on market $38,000 Active 14 DOM
10. 2026-06-07
    days on market $38,000 Active 13 DOM
11. 2026-06-05
    days on market $38,000 Active 10 DOM
12. 2026-06-03
    days on market $38,000 Active 9 DOM
13. 2026-06-02
    days on market $38,000 Active 8 DOM
14. 2026-06-01
    days on market $38,000 Active 7 DOM
15. 2026-05-31
    days on market $38,000 Active 6 DOM
16. 2026-05-30
    days on market $38,000 Active 5 DOM
17. 2026-05-26
    listed $38,000 Active
18. 1996-08-26
    soldstatus $13,000

ⓘ 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: $254 · $21/mo
• Projected year-2 tax: $254 · $21/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 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: $14,896
• − Mortgage interest: −$2,129
• − Property taxes: −$254
• − Insurance: −$856
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$1,105
• Taxable income: $8,169
• Est. tax owed @ 24.0%: −$1,960
• After-tax cash flow: $6,306/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

+192.3% since first listed

2 events — show timeline

• 2026-05-26 Listed $38,000 FSBO.com
• 1996-08-26 Sold (Public Records) $13,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $254 · +14.8% YoY. Source: county tax records.