379 Spencer Ave · Morgantown, WV 26501

$135,000

1 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 4 Days on market

Built 1979 5,532 sqft lot Est $226k · 40% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +3.2/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT POTENTIAL! This 2-bedroom, 2-bath raised ranch offers 1,440 sq ft of living space and endless possibilities for the right buyer. The home features a finished basement, fenced-in backyard, and a spacious lot with room to expand or enjoy outdoor living. Great opportunity for investors, flippers, or buyers looking to build sweat equity!

Key facts

• Finished basement
• Spacious lot
• Fenced-in backyard

Tags

• FINISHED BASEMENT
• FENCED-IN BACKYARD
• SPACIOUS LOT

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Attached garage; Two garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Metal siding construction; Built per public records
• Exterior features: Metal siding

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Central air conditioning
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-54 ($-652/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (25.6% below list).
• Recommended offer: $100k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.0% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $72k; list at $135k implies a 88% gain — meaningful room to come down on a strong offer.

Recommended offer $100,377 (25.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.74% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $226,080
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
379 Spencer Ave	0.00mi	2/2.0 (+1)	1,440 (0%)	1mo	$130,000	$90	92
313 Ross	0.33mi	2/2.0 (+1)	1,392 (-3%)	13mo	$242,000	$174	62
416 E Brockway Ave	0.38mi	2/1.0 (+1)	1,261 (-12%)	12mo	$225,000	$178	45
420 E Brockway Ave	0.36mi	2/1.5 (+1)	1,620 (+12%)	17mo	$163,000	$101	43
145 Grandview Ave	0.39mi	2/2.0 (+1)	1,260 (-12%)	14mo	$235,000	$187	43
529 Arch St	0.53mi	2/1.0 (+1)	1,340 (-7%)	19mo	$210,000	$157	41
1004 Curtis	0.44mi	2/1.0 (+1)	1,604 (+11%)	22mo	$175,000	$109	36

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: -20.8%
• Equity multiple: 0.29×
• Total profit: $-26,946
• Equity at exit: $20,129

10-year hold

• IRR: -17.8%
• Equity multiple: 0.09×
• Total profit: $-34,319
• Equity at exit: $11,672

Cash invested: $37,800 (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 26501

• Home prices YoY: -30.1%
• Rents YoY: 1.4%
• Active inventory: 127
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,004 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $-54

Break-even live

Break-even rent $1,073

Max offer price $125,399

Occupancy floor —

Sensitivity live

Price	-10% $22	-5% $-16	+0% $-54	+5% $-93	+10% $-131
Rent	-10% $-134	-5% $-94	+0% $-54	+5% $-15	+10% $25
Rate	-1.0pp $14	-0.5pp $-20	base $-54	+0.5pp $-89	+1.0pp $-125

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-05-06
   listed $135,000 Active
3. 1999-04-29
   soldstatus $72,000

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,045
• − Mortgage interest: −$7,562
• − Property taxes: −$998
• − Insurance: −$675
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$3,927
• Taxable loss: −$3,044
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $78/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

+87.5% since first listed

3 events — show timeline

• 2026-05-12 Pending — MLSNOW
• 2026-05-06 Listed $135,000 MLSNOW
• 1999-04-29 Sold (Public Records) $72,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $998 · -0.7% YoY. Source: county tax records.