524 Warwood Ave · Wheeling, WV 26003

$24,000

3 bd · 1.5 ba · 1,908 sqft · SingleFamily public records · 29 Days on market

Built 1915 3,920 sqft lot

---

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
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Need a home with lots of room ? Well you found it! This home offers over 1900 square feet with4 bedrooms and 2 bathrooms. There is an additional kitchen on the second floor that can be converted to a 2nd floor laundry or office. The front porch is perfect to watch the seasons change and the rear deck offers plenty of room for those summer barbeques. Call today to schedule a showing.

Key facts

• Unfinished basement
• Gas heat
• Vinyl siding

Tags

• UNFINISHED BASEMENT
• FENCED BACKYARD
• PUBLIC WATER AND SEWER
• VINYL SIDING
• GAS HEAT
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Cable available
• Home design: Single-family detached home; 3-story
• Construction: Frame construction with vinyl siding
• Exterior features: Front porch; Shingle roof; River frontage

Interior

• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: Vinyl flooring; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $24k (1.5% below list) — sets the bar for market timing.
• Cap rate 46.9% vs local median 4.3% in Wheeling — 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 69/100 on livability (#74 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Ohio County Schools (urban): math 34% / reading 49% proficiency, ranked #5 of 55 in WV (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Warwood School (math 22% / reading 34%, grade F, #259 of 377 statewide, top 69%, 516 students, 0% FRL); Wheeling Park High School (math 27% / reading 57%, grade F, #14 of 110 statewide, top 16%, 1,490 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 223 active listings in the ZIP; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Ohio County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $45k (65%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,640 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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 B-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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 5.16% ✓
• Cap rate: 46.92%
• Cash-on-cash: 145.08%
• DSCR: 7.46
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $190,800
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 N 8th St	0.15mi	4/3.5 (+1)	1,930 (+1%)	8mo	$150,000	$78	72
900 Warwood Ave	0.21mi	4/1.5 (+1)	1,904 (-0%)	21mo	$139,000	$73	67
606 Warwood Ave	0.08mi	4/1.5 (+1)	1,810 (-5%)	20mo	$181,000	$100	66
300 Warwood Ave	0.32mi	3/2.0	1,674 (-12%)	10mo	$5,000	$3	54
124 N 8th St	0.16mi	3/2.5	1,737 (-9%)	24mo	$133,000	$77	54
107 N 16th St	0.60mi	3/1.5	1,714 (-10%)	3mo	$180,900	$106	53
136 North 18th St	0.70mi	4/2.0 (+1)	2,010 (+5%)	11mo	$256,000	$127	42
3 Warwood Terrrace Ave	0.73mi	4/1.5 (+1)	1,787 (-6%)	10mo	$190,000	$106	42
1606 Warwood Ave	0.61mi	4/1.5 (+1)	2,124 (+11%)	9mo	$262,000	$123	40

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.61×
• Total profit: $44,410
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 16.05×
• Total profit: $101,117
• Equity at exit: $2,075

Cash invested: $6,720 (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 26003

• Home prices YoY: -23.4%
• Rents YoY: 3.0%
• Active inventory: 223
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $757

Break-even live

Break-even rent $280

Max offer price $24,000

Occupancy floor 34%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $24,000 Active 29 DOM
2. 2026-06-18
   days on market $24,000 Active 28 DOM
3. 2026-06-17
   price $24,000 Active 27 DOM
4. 2026-06-17
   days on market $29,000 Active 27 DOM
5. 2026-06-16
   days on market $29,000 Active 26 DOM
6. 2026-06-15
   days on market $29,000 Active 25 DOM
7. 2026-06-14
   days on market $29,000 Active 23 DOM
8. 2026-06-12
   pricedays on market $29,000 Active 22 DOM
9. 2026-06-09
   days on market $34,000 Active 19 DOM
10. 2026-06-08
    days on market $34,000 Active 18 DOM
11. 2026-06-07
    pricedays on market $34,000 Active 17 DOM
12. 2026-06-05
    days on market $45,000 Active 14 DOM
13. 2026-06-03
    days on market $45,000 Active 13 DOM
14. 2026-06-02
    days on market $45,000 Active 12 DOM
15. 2026-06-01
    days on market $45,000 Active 11 DOM
16. 2026-05-31
    days on market $45,000 Active 10 DOM
17. 2026-05-30
    days on market $45,000 Active 9 DOM
18. 2026-05-21
    listed $69,000 Active
19. 2021-01-25
    soldstatus $24,000
20. 2020-07-06
    soldstatus $10,589 388-char remark

    Show marketing remark (388 chars)

    Need a home with lots of room ? Well you found it! This home offers over 1900 square feet with4 bedrooms and 2 bathrooms. There is an additional kitchen on the second floor that can be converted to a 2nd floor laundry or office. The front porch is perfect to watch the seasons change and the rear deck offers plenty of room for those summer barbeques. Call today to schedule a showing.

21. 2020-01-24
    soldstatus $66,171
22. 2019-10-10
    listed $24,900 388-char remark

    Show marketing remark (388 chars)

    Need a home with lots of room ? Well you found it! This home offers over 1900 square feet with4 bedrooms and 2 bathrooms. There is an additional kitchen on the second floor that can be converted to a 2nd floor laundry or office. The front porch is perfect to watch the seasons change and the rear deck offers plenty of room for those summer barbeques. Call today to schedule a showing.

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $14,861
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$786
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$698
• Taxable income: $9,294
• Est. tax owed @ 24.0%: −$2,231
• After-tax cash flow: $6,853/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: Ohio County Schools
• NCES district ID: 5401050
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $41,572
• Composite: 34.88/100
• National rank: #5085
• State rank: #5 of 55 in WV

Livability — Wheeling

• Score: 69/100
• State rank: #74
• US rank: #8950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, WV
• County: Ohio County · 39,982 people
• City population: 39,982
• Metro: Wheeling, WV-OH
• Population (ZIP): 39,982
• Household income: $57,703
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1630.0

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 40,604 people
• By 2030: 39,150 · -3.6%
• By 2040: 36,039 · -11.2%
• By 2050: 33,582 · -17.3%
• By 2075: 28,662 · -29.4%
• By 2100: 22,963 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ohio

• 2024 margin: Strong R (+26.0) · D 36.0% · R 62.0% · Other 2.0%
• 2008→2024 swing: -15.3pp toward R · 2008: -10.8pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+25.8 2016: R+31.6 2012: R+22.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.09%
• Current HPI: 223.4106
• Rent YoY: ▲ 3.03%
• Metro: Wheeling, WV-OH
• State GDP YoY: —
• F500 in state: 0

Price history

+177.1% since first listed

5 events — show timeline

• 2026-05-21 Listed $69,000 NCWVREIN
• 2021-01-25 Sold (Public Records) $24,000 Public Records
• 2020-07-06 Sold (MLS) $10,589 WBOR
• 2020-01-24 Sold (Public Records) $66,171 Public Records
• 2019-10-10 Listed $24,900 WBOR

Property tax history

+20.7%/yr

Latest (2021): $1,493 · +0.2% YoY. Source: county tax records.