1418 Third Ave · Charleston, WV 25387

$39,000

3 bd · 1.0 ba · 1,496 sqft · SingleFamily public records · 100 Days on market

Built 1930 3,049 sqft lot ↓ 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Appreciation +3.6/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great 2 story home on a flat lot! This home offers a large living area, kitchen and laundry room on the main floor. Upstairs you will find 3 bedrooms and a full bathroom. Enjoy evenings on the front porch or covered back deck. No utilities are on - selling as is to settle an estate.

Key facts

• Large living area
• Flat lot
• Front porch

Tags

• FLAT LOT
• LARGE LIVING AREA
• COVERED BACK DECK
• FRONT PORCH

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels / 2 stories
• Construction: Frame construction; Composition/Shingle roof
• Exterior features: Deck; Porch

Interior

• Kitchen: Gas range
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (other type)
• Interior features: Gas range; Carpet flooring; Six total rooms; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.8% 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: 24 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 (-2.8%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k 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.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — 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 $35,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 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: 3.21% ✓
• Cap rate: 28.79%
• Cash-on-cash: 80.34%
• DSCR: 4.57
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $118,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1016 Grant St	0.25mi	3/1.0	1,352 (-10%)	6mo	$20,000	$15	68
54 Hunt Ave	0.24mi	3/2.0	1,368 (-9%)	10mo	$38,500	$28	63
1207 1st Ave	0.20mi	4/2.0 (+1)	1,632 (+9%)	8mo	$79,900	$49	60
624 Randolph St	0.68mi	3/1.5	1,488 (-0%)	10mo	$150,000	$101	57
707 Hall St	0.52mi	3/2.0	1,600 (+7%)	6mo	$132,000	$83	55
711 Hall St	0.51mi	3/1.0	1,364 (-9%)	9mo	$120,000	$88	54
406 Elm St	0.58mi	3/1.5	1,344 (-10%)	2mo	$150,000	$112	52
1203 7th Ave	0.28mi	2/1.0 (-1)	1,344 (-10%)	15mo	$10,000	$7	52
618 Hunt Ave	0.31mi	3/2.5	1,312 (-12%)	11mo	$85,000	$65	50
807 Red Oak St	0.65mi	3/1.5	1,401 (-6%)	14mo	$131,000	$94	45
113 Vine St	0.66mi	4/2.0 (+1)	1,440 (-4%)	11mo	$114,000	$79	45
806 Red Oak St	0.67mi	3/2.0	1,602 (+7%)	11mo	$107,000	$67	44

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

Projected returns pro-forma

-2.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.0%
• Equity multiple: 4.33×
• Total profit: $36,393
• Equity at exit: $6,165

10-year hold

• IRR: 76.7%
• Equity multiple: 8.94×
• Total profit: $86,693
• Equity at exit: $3,976

Cash invested: $10,920 (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 25387

• Home prices YoY: -1.3%
• Active inventory: 24
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$36 /mo · $435/yr
• Insurance: −$16
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $665

Break-even live

Break-even rent $410

Max offer price $39,000

Occupancy floor 42%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $39,000 Active 100 DOM
2. 2026-06-18
   days on market $39,000 Active 99 DOM
3. 2026-06-17
   days on market $39,000 Active 98 DOM
4. 2026-06-16
   days on market $39,000 Active 97 DOM
5. 2026-06-15
   days on market $39,000 Active 96 DOM
6. 2026-06-14
   days on market $39,000 Active 94 DOM
7. 2026-06-12
   days on market $39,000 Active 93 DOM
8. 2026-06-09
   days on market $39,000 Active 90 DOM
9. 2026-06-08
   days on market $39,000 Active 89 DOM
10. 2026-06-07
    days on market $39,000 Active 88 DOM
11. 2026-06-05
    days on market $39,000 Active 85 DOM
12. 2026-06-03
    days on market $39,000 Active 84 DOM
13. 2026-06-02
    days on market $39,000 Active 83 DOM
14. 2026-06-01
    days on market $39,000 Active 82 DOM
15. 2026-05-31
    days on market $39,000 Active 81 DOM
16. 2026-05-30
    days on market $39,000 Active 80 DOM
17. 2026-03-10
    listed $39,000 Active 283-char remark

    Show marketing remark (283 chars)

    Great 2 story home on a flat lot! This home offers a large living area, kitchen and laundry room on the main floor. Upstairs you will find 3 bedrooms and a full bathroom. Enjoy evenings on the front porch or covered back deck. No utilities are on - selling as is to settle an estate.

18. 2026-03-10
    listed $39,000 Active

    Show marketing remark (283 chars)

    Great 2 story home on a flat lot! This home offers a large living area, kitchen and laundry room on the main floor. Upstairs you will find 3 bedrooms and a full bathroom. Enjoy evenings on the front porch or covered back deck. No utilities are on - selling as is to settle an estate.

19. 2025-11-06
    price $44,000
20. 2025-10-29
    price $45,000
21. 2025-10-22
    price $46,000
22. 2025-10-15
    price $47,000
23. 2025-10-07
    price $48,000
24. 2025-09-04
    listed $49,000 Active
25. 2025-07-15
    price
26. 2025-07-15
    price $52,500
27. 2025-06-06
    listed $55,000 Active
28. 2025-06-06
    listed 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: $435 · $36/mo
• Projected year-2 tax: $435 · $36/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 10/10 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: $15,010
• − Mortgage interest: −$2,185
• − Property taxes: −$435
• − Insurance: −$992
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$1,135
• Taxable income: $7,861
• Est. tax owed @ 24.0%: −$1,887
• After-tax cash flow: $6,089/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
• City population: 33,502
• Population (ZIP): 5,173

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 (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 14% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1%

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: ▼ -2.80%
• Current HPI: 212.6658
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-29.1% since first listed

12 events — show timeline

• 2026-03-10 Listed $39,000 KVBOR
• 2026-03-10 Listed $39,000 HBRMLS
• 2025-11-06 Price Changed $44,000 KVBOR
• 2025-10-29 Price Changed $45,000 KVBOR
• 2025-10-22 Price Changed $46,000 KVBOR
• 2025-10-15 Price Changed $47,000 KVBOR
• 2025-10-07 Price Changed $48,000 KVBOR
• 2025-09-04 Listed $49,000 KVBOR
• 2025-07-15 Price Changed — HBRMLS
• 2025-07-15 Price Changed $52,500 KVBOR
• 2025-06-06 Listed — HBRMLS
• 2025-06-06 Listed $55,000 KVBOR

Property tax history

-3.8%/yr

Latest (2025): $435 · +283.3% YoY. Source: county tax records.