615 Central Ave · Charleston, WV 25302

$137,900

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 89 Days on market

Built 1920 4,792 sqft lot

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Why this score? — see what drove the C- 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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Schools +2.9/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor opportunity in Charleston! This 5 unit, 2,016 sq ft income property features a 2 bedroom, 1 bath apartment on the first floor plus four individual room rentals with shared common areas on the second floor. The building showcases beautiful original woodwork and hardwood flooring, adding character throughout. A basement laundry area provides added convenience and there is a dedicated parking area for tenants. Currently generating $2,735 in gross monthly rent, offering immediate income potential for investors looking to expand their portfolio.

Key facts

• Hardwood flooring
• Original woodwork
• 4,792 sq ft lot

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORING
• BASEMENT LAUNDRY AREA
• DEDICATED PARKING AREA

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories
• Construction: Plaster and stucco construction
• Exterior features: Composition shingle roof

Interior

• Flooring: Hardwood; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood and vinyl flooring; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $138k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $138k).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Zoned schools: Mary C. Snow West Side Elementary (math 12% / reading 12%, grade F, #375 of 377 statewide, top 99%, 353 students, 0% FRL); West Side Middle School (math 7% / reading 18%, grade F, #109 of 109 statewide, top 100%, 377 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 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.
• Zoned-school proficiency averages 20% at this address vs 34% district-wide (-14 pts) — the specific schools serving this property underperform the Kanawha County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 99 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 (-3.0%/yr); year-one equity from $953 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $95k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,625 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.04% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.50%
• DSCR: 1.24
• GRM: 8.0

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-14,558
• Equity at exit: $20,561

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,492
• Equity at exit: $11,923

Cash invested: $38,612 (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 25302

• Home prices YoY: -21.8%
• Active inventory: 99
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,433 medium
• Mortgage (P&I): −$723
• Tax from tax record: −$174 /mo · $2,091/yr
• Insurance: −$57
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $121

Break-even live

Break-even rent $1,279

Max offer price $137,900

Occupancy floor 87%

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-09
   days on market $137,900 Active 89 DOM
2. 2026-06-08
   days on market $137,900 Active 88 DOM
3. 2026-06-07
   days on market $137,900 Active 87 DOM
4. 2026-06-05
   days on market $137,900 Active 84 DOM
5. 2026-06-03
   days on market $137,900 Active 83 DOM
6. 2026-06-02
   days on market $137,900 Active 82 DOM
7. 2026-06-01
   days on market $137,900 Active 81 DOM
8. 2026-05-31
   days on market $137,900 Active 80 DOM
9. 2026-05-30
   days on market $137,900 Active 79 DOM
10. 2026-05-14
    price $139,600

    Show marketing remark (555 chars)

    Investor opportunity in Charleston! This 5 unit, 2,016 sq ft income property features a 2 bedroom, 1 bath apartment on the first floor plus four individual room rentals with shared common areas on the second floor. The building showcases beautiful original woodwork and hardwood flooring, adding character throughout. A basement laundry area provides added convenience and there is a dedicated parking area for tenants. Currently generating $2,735 in gross monthly rent, offering immediate income potential for investors looking to expand their portfolio.

11. 2026-05-14
    price $139,600 555-char remark

    Show marketing remark (555 chars)

    Investor opportunity in Charleston! This 5 unit, 2,016 sq ft income property features a 2 bedroom, 1 bath apartment on the first floor plus four individual room rentals with shared common areas on the second floor. The building showcases beautiful original woodwork and hardwood flooring, adding character throughout. A basement laundry area provides added convenience and there is a dedicated parking area for tenants. Currently generating $2,735 in gross monthly rent, offering immediate income potential for investors looking to expand their portfolio.

12. 2026-05-12
    price $139,700
13. 2026-05-05
    price $139,700 555-char remark

    Show marketing remark (555 chars)

    Investor opportunity in Charleston! This 5 unit, 2,016 sq ft income property features a 2 bedroom, 1 bath apartment on the first floor plus four individual room rentals with shared common areas on the second floor. The building showcases beautiful original woodwork and hardwood flooring, adding character throughout. A basement laundry area provides added convenience and there is a dedicated parking area for tenants. Currently generating $2,735 in gross monthly rent, offering immediate income potential for investors looking to expand their portfolio.

14. 2026-03-31
    listed $139,900 Active 555-char remark

    Show marketing remark (555 chars)

    Investor opportunity in Charleston! This 5 unit, 2,016 sq ft income property features a 2 bedroom, 1 bath apartment on the first floor plus four individual room rentals with shared common areas on the second floor. The building showcases beautiful original woodwork and hardwood flooring, adding character throughout. A basement laundry area provides added convenience and there is a dedicated parking area for tenants. Currently generating $2,735 in gross monthly rent, offering immediate income potential for investors looking to expand their portfolio.

15. 2026-03-23
    price $139,900
16. 2026-03-12
    listed $149,900 Active
17. 1996-05-30
    soldstatus $95,000

ⓘ 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: $2,091 · $174/mo
• Projected year-2 tax: $2,091 · $174/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 20 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: $17,192
• − Mortgage interest: −$7,725
• − Property taxes: −$2,091
• − Insurance: −$1,356
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$4,012
• Taxable loss: −$742
• Est. tax savings @ 24.0%: +$178
• After-tax cash flow: $1,635/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
• County: Kanawha County · 33,502 people
• City population: 33,502
• Metro: Charleston, WV
• Population (ZIP): 13,204
• Household income: $55,210
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 679.0

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 (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 8% Hispanic / Latino 3% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Foreign-born: 1% · South Korea

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: ▼ -44.83%
• Current HPI: 160.7081
• Rent YoY: —
• Metro: Charleston, WV
• State GDP YoY: —
• F500 in state: 0

Price history

+46.9% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $139,600 KVBOR
• 2026-05-14 Price Changed $139,600 KVBOR
• 2026-05-12 Price Changed $139,700 KVBOR
• 2026-05-05 Price Changed $139,700 KVBOR
• 2026-03-31 Listed $139,900 KVBOR
• 2026-03-23 Price Changed $139,900 KVBOR
• 2026-03-12 Listed $149,900 KVBOR
• 1996-05-30 Sold (Public Records) $95,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,091 · +0.0% YoY. Source: county tax records.