422 Warwood Ave · Wheeling, WV 26003

$60,000

2 bd · 1.0 ba · 969 sqft · SingleFamily public records · 56 Days on market

Built 1915 3,450 sqft lot $62/sqft · 53% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or investment property. All new windows and sliding glass doors on first floor. Fresh paint throughout. 200 amp service. newer furnace and hot water tank. Priced Right.

Key facts

• Fenced in home
• New flooring
• Back deck

Tags

• FENCED IN HOME
• BACK DECK
• NEW FLOORING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Contemporary style; One story
• Construction: Wood siding construction
• Exterior features: Deck; Patio; Shingle roof

Interior

• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Gas water heater; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($882 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 4.3% in Wheeling — 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 69/100 on livability (#74 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Ohio County Schools (urban): math 34% / reading 49% proficiency, ranked #5 of 55 in WV (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 223 active listings in the ZIP; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ohio County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $34k; list at $60k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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. 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 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?
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: 1.47% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.13%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $128,066
• List price: $60,000
• Delta: -53.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
438 Warwood Ave	0.04mi	2/1.0	1,008 (+4%)	0mo	$126,000	$125	91
415 Richland Ave	0.08mi	2/1.0	1,023 (+6%)	5mo	$135,000	$132	83
414 Warwood Ave	0.02mi	3/1.5 (+1)	980 (+1%)	11mo	$95,000	$97	81
121 North 10th St	0.39mi	3/1.0 (+1)	1,008 (+4%)	14mo	$25,000	$25	58
330 Richland Ave	0.12mi	2/1.0	1,094 (+13%)	20mo	$128,000	$117	56
605 Jeanette Ave	0.63mi	2/2.0	1,065 (+10%)	9mo	$60,000	$56	42
1313 N 7th St	0.69mi	3/2.0 (+1)	864 (-11%)	11mo	$115,000	$133	31

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

Projected returns pro-forma

-3.0% appreciation · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $4,760
• Equity at exit: $8,946

10-year hold

• IRR: 16.6%
• Equity multiple: 2.37×
• Total profit: $23,000
• Equity at exit: $5,188

Cash invested: $16,800 (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 26003

• Home prices YoY: -23.4%
• Rents YoY: 3.0%
• Active inventory: 223
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $882 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $226

Break-even live

Break-even rent $595

Max offer price $60,000

Occupancy floor 69%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $60,000 Active 56 DOM
2. 2026-06-18
   days on market $60,000 Active 55 DOM
3. 2026-06-17
   days on market $60,000 Active 54 DOM
4. 2026-06-16
   days on market $60,000 Active 53 DOM
5. 2026-06-15
   days on market $60,000 Active 52 DOM
6. 2026-06-14
   days on market $60,000 Active 50 DOM
7. 2026-06-12
   days on market $60,000 Active 49 DOM
8. 2026-06-09
   days on market $60,000 Active 46 DOM
9. 2026-06-08
   days on market $60,000 Active 45 DOM
10. 2026-06-07
    days on market $60,000 Active 44 DOM
11. 2026-06-05
    days on market $60,000 Active 41 DOM
12. 2026-06-03
    days on market $60,000 Active 40 DOM
13. 2026-06-02
    days on market $60,000 Active 39 DOM
14. 2026-06-01
    days on market $60,000 Active 38 DOM
15. 2026-05-31
    days on market $60,000 Active 37 DOM
16. 2026-05-30
    days on market $60,000 Active 36 DOM
17. 2026-04-24
    listed $60,000 Active 196-char remark
18. 2023-02-03
    soldstatus $34,173
19. 2021-06-03
    soldstatus $1,022,600
20. 2010-02-26
    soldstatus $18,000 187-char remark

    Show marketing remark (187 chars)

    Great starter home or investment property. All new windows and sliding glass doors on first floor. Fresh paint throughout. 200 amp service. newer furnace and hot water tank. Priced Right.

21. 2009-08-03
    listed $19,900 187-char remark

    Show marketing remark (187 chars)

    Great starter home or investment property. All new windows and sliding glass doors on first floor. Fresh paint throughout. 200 amp service. newer furnace and hot water tank. Priced Right.

22. 1989-10-11
    soldstatus $15,000

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $10,578
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$966
• − Repairs & maintenance: −$846
• − Management: −$846
• − Depreciation: −$1,745
• Taxable income: $1,913
• Est. tax owed @ 24.0%: −$459
• After-tax cash flow: $2,256/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: Ohio County Schools
• NCES district ID: 5401050
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $41,572
• Composite: 34.88/100
• National rank: #5085
• State rank: #5 of 55 in WV

Livability — Wheeling

• Score: 69/100
• State rank: #74
• US rank: #8950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, WV
• County: Ohio County · 39,982 people
• City population: 39,982
• Metro: Wheeling, WV-OH
• Population (ZIP): 39,982
• Household income: $57,703
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1630.0

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 40,604 people
• By 2030: 39,150 · -3.6%
• By 2040: 36,039 · -11.2%
• By 2050: 33,582 · -17.3%
• By 2075: 28,662 · -29.4%
• By 2100: 22,963 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ohio

• 2024 margin: Strong R (+26.0) · D 36.0% · R 62.0% · Other 2.0%
• 2008→2024 swing: -15.3pp toward R · 2008: -10.8pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+25.8 2016: R+31.6 2012: R+22.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.09%
• Current HPI: 223.4106
• Rent YoY: ▲ 3.03%
• Metro: Wheeling, WV-OH
• State GDP YoY: —
• F500 in state: 0

Price history

+300.0% since first listed

6 events — show timeline

• 2026-04-24 Listed $60,000 WBOR
• 2023-02-03 Sold (Public Records) $34,173 Public Records
• 2021-06-03 Sold (Public Records) $1,022,600 Public Records
• 2010-02-26 Sold (MLS) $18,000 WBOR
• 2009-08-03 Listed $19,900 WBOR
• 1989-10-11 Sold (Public Records) $15,000 Public Records

Property tax history

-12.4%/yr

Latest (2025): $74 · +21.2% YoY. Source: county tax records.