112 Cornell Ave · Morgantown, WV 26505

$188,500

5 bd · 2.0 ba · 1,916 sqft · MultiFamily public records · 151 Days on market

Built 1921 Est $211k · 11% under

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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 +24.9/30.0
• ARV discount +12.3/15.0
• DSCR +8.1/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• 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

Great investment opportunity near WVU downtown campus featuring two - 2 bedroom units.

Key facts

• Built 1921
• Listed 150 days

Property features AI

Finance

• Other: Zoned for multiple family residence

Exterior

• Parking: On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property (multi-family, 2-4 family); 2 stories
• Construction: Aluminum siding, block, and frame construction; Shingle roof; Built with a full unfinished basement
• Exterior features: Patio; Porch; Sloped lot

Interior

• Bedrooms: Two 2-bedroom units
• Flooring: Laminate; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Central heating; Electric heating; Forced air; Natural gas; Has heating
• Interior features: Laminate and vinyl flooring; Full unfinished basement; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $188k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Eastwood Elementary School (math 45% / reading 47%, grade D-, #68 of 377 statewide, top 18%, 586 students, 0% FRL); Suncrest Middle School (math 46% / reading 57%, grade C, #4 of 109 statewide, top 3%, 501 students, 0% FRL); University High School (math 43% / reading 68%, grade C, #4 of 110 statewide, top 3%, 1,362 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 fast (+5.5%/yr); 119 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).
• At $2,109/mo this rent would consume 56% of the median local household income ($46k/yr) (locally 3256% 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 $1k of loan paydown is wiped out by about $6k 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 + 5.5% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $188k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $165,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1921 — 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 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?
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: 1.12% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.17%
• DSCR: 1.41
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $210,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Stewart St	0.17mi	6/2.5 (+1)	1,846 (-4%)	12mo	$295,000	$160	69
752 Weaver St	0.26mi	6/3.0 (+1)	1,947 (+2%)	16mo	$150,000	$77	63
445 Overhill	0.38mi	4/2.0 (-1)	1,948 (+2%)	14mo	$10,000	$5	63
409 Forest Ave	0.46mi	6/2.0 (+1)	1,769 (-8%)	2mo	$230,000	$130	58
450 Dallas St	0.46mi	5/2.5	1,815 (-5%)	12mo	$170,000	$94	58
528 NE Grove St	0.56mi	5/3.0	1,952 (+2%)	12mo	$220,000	$113	57
69 Highland Ave	0.26mi	4/2.0 (-1)	2,100 (+10%)	18mo	$230,000	$110	52
595 Brockway Ave	0.69mi	5/3.0	2,060 (+8%)	0mo	$165,000	$80	51
236 Quay	0.33mi	4/2.0 (-1)	1,757 (-8%)	19mo	$214,000	$122	50
250 & 252 Randolph	0.64mi	4/2.0 (-1)	1,932 (+1%)	18mo	$255,000	$132	49
258 Randolph Rd	0.66mi	4/2.0 (-1)	1,924 (+0%)	20mo	$155,000	$81	47
301 Richwood Ave	0.45mi	5/2.0	1,680 (-12%)	19mo	$166,000	$99	42

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 · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $512
• Equity at exit: $28,106

10-year hold

• IRR: 12.2%
• Equity multiple: 2.07×
• Total profit: $56,651
• Equity at exit: $16,298

Cash invested: $52,780 (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 26505

• Home prices YoY: -31.9%
• Rents YoY: 5.5%
• Active inventory: 119
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,109 medium
• Mortgage (P&I): −$989
• Tax from tax record: −$196 /mo · $2,346/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $404

Break-even live

Break-even rent $1,598

Max offer price $188,500

Occupancy floor 76%

Sensitivity live

Price	-10% $510	-5% $457	+0% $404	+5% $350	+10% $297
Rent	-10% $237	-5% $320	+0% $404	+5% $487	+10% $570
Rate	-1.0pp $498	-0.5pp $451	base $404	+0.5pp $355	+1.0pp $305

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,110
Total (2 units)			$2,109

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: $47,125
• Closing costs: $5,655
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $188,500 Active 151 DOM
2. 2026-06-18
   days on market $188,500 Active 150 DOM
3. 2026-06-17
   days on market $188,500 Active 149 DOM
4. 2026-06-16
   days on market $188,500 Active 148 DOM
5. 2026-06-15
   days on market $188,500 Active 147 DOM
6. 2026-06-14
   days on market $188,500 Active 145 DOM
7. 2026-06-13
   days on market $188,500 Active 144 DOM
8. 2026-06-10
   days on market $188,500 Active 142 DOM
9. 2026-06-09
   days on market $188,500 Active 141 DOM
10. 2026-06-08
    days on market $188,500 Active 140 DOM
11. 2026-06-07
    days on market $188,500 Active 139 DOM
12. 2026-06-05
    days on market $188,500 Active 136 DOM
13. 2026-06-03
    statusdays on market $188,500 Active 135 DOM
14. 2026-06-02
    days on market $188,500 Active Under Contract 134 DOM
15. 2026-06-01
    days on market $188,500 Active Under Contract 133 DOM
16. 2026-05-31
    days on market $188,500 Active Under Contract 132 DOM
17. 2026-05-30
    days on market $188,500 Active Under Contract 131 DOM
18. 2026-05-12
    historical Active Under Contract
19. 2026-04-22
    price $188,500
20. 2026-01-19
    listed $200,000 Active
21. 2000-11-02
    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: $2,346 · $196/mo
• Projected year-2 tax: $2,346 · $196/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,308
• − Mortgage interest: −$10,559
• − Property taxes: −$2,346
• − Insurance: −$942
• − Repairs & maintenance: −$2,025
• − Management: −$2,025
• − Depreciation: −$5,484
• Taxable income: $1,927
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $4,380/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): 37,492
• Household income: $45,536
• Rent vs Own: 67.5% rent · 32.5% own
• Severe rent burden: 3256.0

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 (82%)
• Race & ethnicity: White 82% Asian 6% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Slovak 3% Italian 2%
• Foreign-born: 10% · China, Canada, Vietnam
• Languages at home: 88% English-only · Arabic 3% Other Indo-European 2% Chinese 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: ▼ -100.05%
• Current HPI: 213.749
• Rent YoY: ▲ 5.46%
• Metro: Morgantown, WV
• State GDP YoY: —
• F500 in state: 0

Price history

+98.4% since first listed

4 events — show timeline

• 2026-05-12 Contingent — NCWVREIN
• 2026-04-22 Price Changed $188,500 NCWVREIN
• 2026-01-19 Listed $200,000 NCWVREIN
• 2000-11-02 Sold (Public Records) $95,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,346 · +7.1% YoY. Source: county tax records.