1013 Fay St · Fairmont, WV 26554

$63,900

1 bd · 1.0 ba · 548 sqft · SingleFamily public records · 211 Days on market

Built 1954 0.37 ac lot ↓ 30% 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• 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

Listing remarks

Attention!!!Cute and cozy bungalow that is ready now. Updated throughout including window treatments/furniture and appliances remain. Great opportunity to relax and enjoy. Must see to appreciate. All measurements/lot dimensions are approximate. This is a great home just for you and it could be yours before the end of the year. Cheaper than rent!!! Let's get you pre-approved today.

Key facts

• 0.37 acre lot
• Built 1954
• Listed 210 days

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family detached residence; 1 story
• Construction: Block and vinyl siding construction; Shingle roof
• Exterior features: Chain link fencing; Corner lot

Interior

• Kitchen: Refrigerator; Range
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Forced air heating; Has cooling
• Interior features: Ceiling fan(s); Concrete partial unfinished basement; Porch
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.25% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• GRM: 6.6

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $4,140
• Equity at exit: $9,528

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $22,240
• Equity at exit: $5,525

Cash invested: $17,892 (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 26554

• Home prices YoY: -11.3%
• Active inventory: 151
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $801 medium
• Mortgage (P&I): −$335
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $228

Break-even live

Break-even rent $513

Max offer price $63,900

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: $15,975
• Closing costs: $1,917
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $63,900 Active 211 DOM
2. 2026-06-18
   days on market $63,900 Active 210 DOM
3. 2026-06-17
   days on market $63,900 Active 209 DOM
4. 2026-06-16
   days on market $63,900 Active 208 DOM
5. 2026-06-15
   days on market $63,900 Active 207 DOM
6. 2026-06-14
   days on market $63,900 Active 205 DOM
7. 2026-06-13
   days on market $63,900 Active 204 DOM
8. 2026-06-10
   days on market $63,900 Active 202 DOM
9. 2026-06-09
   days on market $63,900 Active 201 DOM
10. 2026-06-08
    days on market $63,900 Active 200 DOM
11. 2026-06-07
    days on market $63,900 Active 199 DOM
12. 2026-06-02
    days on market $63,900 Active 194 DOM
13. 2026-06-01
    days on market $63,900 Active 193 DOM
14. 2026-05-31
    days on market $63,900 Active 192 DOM
15. 2026-05-30
    days on market $63,900 Active 191 DOM
16. 2026-05-07
    price $63,900
17. 2026-04-27
    price $71,900
18. 2026-04-23
    price $74,900
19. 2026-03-03
    price $79,900
20. 2025-11-21
    listed $91,900 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: $521 · $43/mo
• Projected year-2 tax: $521 · $43/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 5/10 Major 7 d/yr ≥99°F today · 20 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: $9,614
• − Mortgage interest: −$3,579
• − Property taxes: −$521
• − Insurance: −$320
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$1,859
• Taxable income: $1,796
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $2,302/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

-30.5% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $63,900 NCWVREIN
• 2026-04-27 Price Changed $71,900 NCWVREIN
• 2026-04-23 Price Changed $74,900 NCWVREIN
• 2026-03-03 Price Changed $79,900 NCWVREIN
• 2025-11-21 Listed $91,900 NCWVREIN

Property tax history

+1.8%/yr

Latest (2025): $521 · +4.1% YoY. Source: county tax records.