205 Elm St · New Haven, WV 25265

$169,900

3 bd · 1.0 ba · 1,765 sqft · MultiFamily · 251 Days on market

Built 1960 $96/sqft · 33% below area Est $255k · 33% under

---

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 +21.2/30.0
• ARV discount +15.0/15.0
• Appreciation +7.8/10.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Nice neighborhood, this 3-bedroom, 1-bath home is situated on a flat corner lot! This well-maintained property features updated laminate flooring throughout the living room, hallway, bedrooms, and bath (2025). The spacious family room offers direct access to the back patio and partially fenced yard—great for relaxing and privacy. Metal roof. Three hallway closets. A great layout with plenty of storage and potential! Fire hydration in front yard (possible savings on homeowners insurance)

Key facts

• Metal roof
• Flat corner lot
• Built 1960

Tags

• FLAT CORNER LOT
• UPDATED LAMINATE FLOORING
• DIRECT ACCESS TO BACK PATIO
• PARTIALLY FENCED YARD
• METAL ROOF
• THREE HALLWAY CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#111 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Mason County Schools (town): math 20% / reading 33% proficiency, ranked #44 of 55 in WV (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 3 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.6% local appreciation)).
• Mason County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.6% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $14k; list at $170k implies a 1114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1960 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.06% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $255,000
• List price: $169,900
• Delta: -33.37%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

5.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.28×
• Total profit: $60,791
• Equity at exit: $102,683

10-year hold

• IRR: 19.1%
• Equity multiple: 4.53×
• Total profit: $167,778
• Equity at exit: $182,753

Cash invested: $47,572 (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 25265

• Home prices YoY: 3.6%
• Active inventory: 8
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $1,796 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $245

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$1,796
Total (2 units)			$1,796

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $169,900 Active 251 DOM
2. 2026-06-17
   days on market $169,900 Active 250 DOM
3. 2026-06-16
   days on market $169,900 Active 249 DOM
4. 2026-06-15
   days on market $169,900 Active 248 DOM
5. 2026-06-14
   days on market $169,900 Active 246 DOM
6. 2026-06-12
   days on market $169,900 Active 245 DOM
7. 2026-06-09
   days on market $169,900 Active 242 DOM
8. 2026-06-08
   days on market $169,900 Active 241 DOM
9. 2026-06-07
   days on market $169,900 Active 240 DOM
10. 2026-06-05
    days on market $169,900 Active 237 DOM
11. 2026-06-03
    days on market $169,900 Active 236 DOM
12. 2026-06-02
    days on market $169,900 Active 235 DOM
13. 2026-06-01
    days on market $169,900 Active 234 DOM
14. 2026-05-31
    days on market $169,900 Active 233 DOM
15. 2026-05-30
    days on market $169,900 Active 232 DOM
16. 2026-05-08
    status Active 498-char remark

    Show marketing remark (498 chars)

    Nice neighborhood, this 3-bedroom, 1-bath home is situated on a flat corner lot! This well-maintained property features updated laminate flooring throughout the living room, hallway, bedrooms, and bath (2025). The spacious family room offers direct access to the back patio and partially fenced yard—great for relaxing and privacy. Metal roof. Three hallway closets. A great layout with plenty of storage and potential! Fire hydration in front yard (possible savings on homeowners insurance)

17. 2026-05-01
    status Pending 498-char remark

    Show marketing remark (498 chars)

    Nice neighborhood, this 3-bedroom, 1-bath home is situated on a flat corner lot! This well-maintained property features updated laminate flooring throughout the living room, hallway, bedrooms, and bath (2025). The spacious family room offers direct access to the back patio and partially fenced yard—great for relaxing and privacy. Metal roof. Three hallway closets. A great layout with plenty of storage and potential! Fire hydration in front yard (possible savings on homeowners insurance)

18. 2026-01-09
    price $169,900 498-char remark

    Show marketing remark (498 chars)

    Nice neighborhood, this 3-bedroom, 1-bath home is situated on a flat corner lot! This well-maintained property features updated laminate flooring throughout the living room, hallway, bedrooms, and bath (2025). The spacious family room offers direct access to the back patio and partially fenced yard—great for relaxing and privacy. Metal roof. Three hallway closets. A great layout with plenty of storage and potential! Fire hydration in front yard (possible savings on homeowners insurance)

19. 2025-10-03
    listed $178,000 Active 498-char remark

    Show marketing remark (498 chars)

    Nice neighborhood, this 3-bedroom, 1-bath home is situated on a flat corner lot! This well-maintained property features updated laminate flooring throughout the living room, hallway, bedrooms, and bath (2025). The spacious family room offers direct access to the back patio and partially fenced yard—great for relaxing and privacy. Metal roof. Three hallway closets. A great layout with plenty of storage and potential! Fire hydration in front yard (possible savings on homeowners insurance)

20. 1999-02-25
    soldstatus $14,000 66-char remark

    Show marketing remark (66 chars)

    CARPET UP 1 YR OLD IS IN KITCHEN FLOOR DOWN ENCLOSED PORCH IN REAR

21. 1998-12-10
    historical 66-char remark

    Show marketing remark (66 chars)

    CARPET UP 1 YR OLD IS IN KITCHEN FLOOR DOWN ENCLOSED PORCH IN REAR

22. 1997-02-27
    listed $24,900 66-char remark

    Show marketing remark (66 chars)

    CARPET UP 1 YR OLD IS IN KITCHEN FLOOR DOWN ENCLOSED PORCH IN REAR

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,552
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$4,943
• Taxable income: $246
• Est. tax owed @ 24.0%: −$59
• After-tax cash flow: $2,877/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: Mason County Schools
• NCES district ID: 5400780
• Math proficiency: 20% ▼ -13.00%
• Reading proficiency: 33% ▼ -10.00%
• Median HH income: $37,623
• Composite: 22.07/100
• National rank: #8191
• State rank: #44 of 55 in WV

Livability — New Haven

• Score: 66/100
• State rank: #111
• US rank: #11999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, WV
• Population (ZIP): 1,616

Population outlook (Mason County) Hauer SSP2

• Today (2025): 26,174 people
• By 2030: 25,482 · -2.6%
• By 2040: 23,934 · -8.6%
• By 2050: 22,432 · -14.3%
• By 2075: 19,241 · -26.5%
• By 2100: 15,427 · -41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 1% Black 1%
• Common ancestry: Iranian 2% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+58.0) · D 20.0% · R 78.0% · Other 1.9%
• 2008→2024 swing: -45.1pp toward R · 2008: -12.9pp · 2024: -58.0pp
• All cycles: 2024: R+58.0 2020: R+53.2 2016: R+54.7 2012: R+20.3 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.61%
• Current HPI: 162.8837
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+582.3% since first listed

7 events — show timeline

• 2026-05-08 Relisted — KVBOR
• 2026-05-01 Pending — KVBOR
• 2026-01-09 Price Changed $169,900 KVBOR
• 2025-10-03 Listed $178,000 KVBOR
• 1999-02-25 Sold (MLS) $14,000 Global MLS
• 1998-12-10 Listing Removed — Global MLS
• 1997-02-27 Listed $24,900 Global MLS