504 E Brockway Ave · Morgantown, WV 26501

$15,000

6 bd · 3.0 ba · 2,880 sqft · MultiFamily public records · 18 Days on market

Built 1920 $5/sqft · 98% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.9/5.0
• 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

Located in a convenient Morgantown location, this 2-bedroom home offers potential for a possible 3rd bedroom and is ready for renovation and updates. Property features spacious living areas, an enclosed porch, vinyl siding exterior, and a functional layout with good opportunity for customization or investment use. Close proximity to downtown Morgantown, West Virginia University, hospitals, shopping, restaurants, and major roadways. Property is being sold AS-IS. Listing photos have been virtually staged or digitally enhanced to illustrate the property’s potential after repairs and updates. Home requires work and may not qualify for all financing types. Great opportunity for investors,

Key facts

• Morgantown location
• Enclosed porch
• Functional layout

Tags

• MORGANTOWN LOCATION
• ENCLOSED PORCH
• VINYL SIDING EXTERIOR
• FUNCTIONAL LAYOUT
• CLOSE PROXIMITY TO DOWNTOWN
• CLOSE PROXIMITY TO HOSPITALS

Property features AI

Finance

• Financial info: Annual tax: $622.56

Exterior

• Parking: No designated parking (None/Other)
• Home design: Single-story detached single family residence
• Exterior features: Frontage: Other

Interior

• Bedrooms: Total rooms: 6
• Bathrooms: One full bathroom
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $15k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.
• Cap rate 188.7% vs local median 3.1% in Morgantown — 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 84/100 on livability (#5 in WV, #674 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D-.
• Monongalia County Schools (urban): math 45% / reading 53% proficiency, ranked #1 of 55 in WV (top 2%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mountainview Elementary School (math 43% / reading 43%, grade F, #86 of 377 statewide, top 23%, 703 students, 0% FRL); South Middle School (math 33% / reading 48%, grade F, #16 of 109 statewide, top 16%, 755 students, 0% FRL); Morgantown High School (math 49% / reading 73%, grade C+, #2 of 110 statewide, top 1%, 1,859 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.4%/yr); 127 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).
• At $3,018/mo this rent would consume 57% of the median local household income ($64k/yr) (locally 595% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Monongalia County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; 20% 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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $14,775 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 20.12% ✓
• Cap rate: 188.74%
• Cash-on-cash: 651.59%
• DSCR: 29.99
• GRM: 0.4

CMA / ARV

• ARV (median comp): $196,963
• List price: $15,000
• Delta: -92.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 Brockway Ave	0.32mi	7/3.0 (+1)	2,458 (-15%)	4mo	$180,000	$73	52
313 Grand	0.51mi	6/4.0	3,084 (+7%)	11mo	$245,500	$80	51
313 Kingwood	0.38mi	5/3.0 (-1)	3,211 (+12%)	9mo	$300,000	$93	51
405 Forest Ave	0.62mi	6/4.0	2,679 (-7%)	14mo	$196,900	$73	44

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 · 1.42% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 33.06×
• Total profit: $134,638
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 67.97×
• Total profit: $281,264
• Equity at exit: $1,297

Cash invested: $4,200 (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 26501

• Home prices YoY: -30.1%
• Rents YoY: 1.4%
• Active inventory: 127
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $3,018 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $2,225

Break-even live

Break-even rent $202

Max offer price $15,000

Occupancy floor 21%

Sensitivity live

Price	-10% $2,235	-5% $2,230	+0% $2,225	+5% $2,220	+10% $2,215
Rent	-10% $1,987	-5% $2,106	+0% $2,225	+5% $2,344	+10% $2,463
Rate	-1.0pp $2,233	-0.5pp $2,229	base $2,225	+0.5pp $2,221	+1.0pp $2,217

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,018
Total (3 units)			$3,018

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-10
   listed $15,000 Active 740-char remark
2. 1991-11-13
   soldstatus $12,500

ⓘ 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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: $36,216
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$742
• − Repairs & maintenance: −$2,897
• − Management: −$2,897
• − Depreciation: −$436
• Taxable income: $28,178
• Est. tax owed @ 24.0%: −$6,763
• After-tax cash flow: $19,937/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: Monongalia County Schools
• NCES district ID: 5400930
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $43,820
• Composite: 41.34/100
• National rank: #3503
• State rank: #1 of 55 in WV

Livability — Morgantown

• Score: 84/100
• State rank: #5
• US rank: #674

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgantown, WV
• County: Monongalia County · 97,252 people
• City population: 97,252
• Metro: Morgantown, WV
• Population (ZIP): 19,529
• Household income: $63,529
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 595.0

Population outlook (Monongalia County) Hauer SSP2

• Today (2025): 122,188 people
• By 2030: 131,536 · +7.7%
• By 2040: 149,777 · +22.6%
• By 2050: 168,245 · +37.7%
• By 2075: 207,979 · +70.2%
• By 2100: 239,430 · +96.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 3% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Monongalia

• 2024 margin: Toss-up / Even · D 46.5% · R 50.9% · Other 2.7%
• 2008→2024 swing: -8.2pp toward R · 2008: 3.9pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.2 2016: R+10.4 2012: R+9.7 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.15%
• Current HPI: 220.911
• Rent YoY: ▲ 1.42%
• Metro: Morgantown, WV
• State GDP YoY: —
• F500 in state: 0

Price history

+20.0% since first listed

3 events — show timeline

• 2026-05-28 Pending — NCWVREIN
• 2026-05-10 Listed $15,000 NCWVREIN
• 1991-11-13 Sold (Public Records) $12,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,145 · -0.9% YoY. Source: county tax records.