18 Spruce St · Franklin, WV 26807

$175,000

3 bd · 2.0 ba · 1,600 sqft · SingleFamily · 45 Days on market

Built 1926 1,742 sqft lot $109/sqft · 23% below area Est $228k · 23% 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
• Appreciation +7.6/10.0
• Cash flow +7.1/30.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.3/10.0

Listing remarks MLS

IDEALLY LOCATED within walking distance to Schools, Restaurants, Post Office, Clinic, Hardware, Library, Banking! This 2 - 3 Bedroom, 2.5 Bath, Home located in the Town of Franklin was nicely upgraded in 2021. Also added 2 Mini Splits & New Windows throughout at that time. Metal Roof, Wood & Electric heat, Town Water/Sewer. Large deck off of back with great mountain view. Covered parking and walk out basement. Perfect for those looking for a low maintenance property. Would make a great full time residence or a weekend getaway that's close to local attractions; Warner's Drive-In, Seneca Rocks, Smoke Hole Recreational area, Canaan Valley and Blackwater Fall, just to name a few.

Key facts

• New guttering system
• New hot water heater
• Cement driveway

Tags

• MOUNTAIN VIEW
• NEW HOT WATER HEATER
• NEW STAINLESS STEEL APPLIANCES
• NEW GUTTERING SYSTEM
• CEMENT DRIVEWAY
• HARD-WIRED RING CAMERAS

Property features AI

Finance

• Other: Fee simple ownership; Property described in very good condition

Exterior

• Parking: Off-street parking for one vehicle
• Utilities: Public water; Public sewer; Electric service (200+ amp)
• Home design: Detached single-family home; Estimated year built; One-story main living with basement; Facing direction not specified
• Construction: Block foundation; Block and wood siding construction; Metal roof; Double-pane windows; Unfinished basement
• Exterior features: Gutter system; Blacktop road access; Located within city limits

Interior

• Kitchen: Stainless steel appliances; Electric range/oven; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric baseboard heating; Ductless mini-split cooling; Electric hot water; 200+ amp electrical service
• Interior features: Open floor plan; Kitchen island; Ceiling fans; Drywall walls and ceilings; Carpeted areas; Vinyl flooring
• Laundry & utility: Washer and dryer included; Laundry located in the basement; High-efficiency water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.3% below list).
• Recommended offer: $122k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 1.5% in Franklin — 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 (#67 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: amenities F, commute F.
• Pendleton County Schools (rural): math 33% / reading 45% proficiency, ranked #8 of 55 in WV (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Elementary School (math 27% / reading 42%, grade F, #148 of 377 statewide, top 49%, 276 students, 0% FRL); Pendleton County Middle/High School (math 32% / reading 47%, grade F, #21 of 110 statewide, top 26%, 388 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 55 active listings in the ZIP; 38 units permitted in Pendleton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.2% local appreciation)).
• Pendleton County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $132k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,991 (30.3% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.70% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.02%
• DSCR: 0.73
• GRM: 12.0

CMA / ARV

• ARV (median comp): $228,114
• List price: $175,000
• Delta: -23.28%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
167 Dogwood Dr	0.21mi	3/1.0	1,492 (-7%)	8mo	$257,000	$172	68
64 Mulberry St	0.47mi	3/2.0	1,500 (-6%)	11mo	$245,000	$163	58

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

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.55×
• Total profit: $27,014
• Equity at exit: $101,624

10-year hold

• IRR: 10.2%
• Equity multiple: 2.92×
• Total profit: $94,209
• Equity at exit: $177,452

Cash invested: $49,000 (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 26807

• Home prices YoY: 3.2%
• Active inventory: 55
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-246

Break-even live

Break-even rent $1,531

Max offer price $139,453

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-185	+0% $-246	+5% $-306	+10% $-367
Rent	-10% $-342	-5% $-294	+0% $-246	+5% $-197	+10% $-149
Rate	-1.0pp $-158	-0.5pp $-201	base $-246	+0.5pp $-291	+1.0pp $-337

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $175,000 Active 45 DOM
2. 2026-06-21
   days on market $175,000 Active 44 DOM
3. 2026-06-18
   days on market $175,000 Active 42 DOM
4. 2026-06-17
   days on market $175,000 Active 41 DOM
5. 2026-06-16
   days on market $175,000 Active 40 DOM
6. 2026-06-15
   days on market $175,000 Active 39 DOM
7. 2026-06-15
   days on market $175,000 Active 38 DOM
8. 2026-06-13
   days on market $175,000 Active 37 DOM
9. 2026-06-12
   days on market $175,000 Active 36 DOM
10. 2026-06-09
    days on market $175,000 Active 33 DOM
11. 2026-06-08
    days on market $175,000 Active 32 DOM
12. 2026-06-08
    days on market $175,000 Active 31 DOM
13. 2026-06-07
    days on market $175,000 Active 30 DOM
14. 2026-06-04
    days on market $175,000 Active 28 DOM
15. 2026-06-03
    days on market $175,000 Active 27 DOM
16. 2026-06-02
    days on market $175,000 Active 26 DOM
17. 2026-06-01
    days on market $175,000 Active 25 DOM
18. 2026-05-31
    days on market $175,000 Active 24 DOM
19. 2026-05-07
    listed $175,000 Active 635-char remark
20. 2025-11-21
    soldstatus $132,000 Closed 697-char remark

    Show marketing remark (697 chars)

    IDEALLY LOCATED within walking distance to Schools, Restaurants, Post Office, Clinic, Hardware, Library, Banking! This 2 - 3 Bedroom, 2.5 Bath, Home located in the Town of Franklin was nicely upgraded in 2021. Also added 2 Mini Splits & New Windows throughout at that time. Metal Roof, Wood & Electric heat, Town Water/Sewer. Large deck off of back with great mountain view. Covered parking and walk out basement. Perfect for those looking for a low maintenance property. Would make a great full time residence or a weekend getaway that's close to local attractions; Warner's Drive-In, Seneca Rocks, Smoke Hole Recreational area, Canaan Valley and Blackwater Fall, just to name a few.

21. 2025-07-25
    status Pending 697-char remark

    Show marketing remark (697 chars)

    IDEALLY LOCATED within walking distance to Schools, Restaurants, Post Office, Clinic, Hardware, Library, Banking! This 2 - 3 Bedroom, 2.5 Bath, Home located in the Town of Franklin was nicely upgraded in 2021. Also added 2 Mini Splits & New Windows throughout at that time. Metal Roof, Wood & Electric heat, Town Water/Sewer. Large deck off of back with great mountain view. Covered parking and walk out basement. Perfect for those looking for a low maintenance property. Would make a great full time residence or a weekend getaway that's close to local attractions; Warner's Drive-In, Seneca Rocks, Smoke Hole Recreational area, Canaan Valley and Blackwater Fall, just to name a few.

22. 2025-05-30
    price $139,000 697-char remark

    Show marketing remark (697 chars)

    IDEALLY LOCATED within walking distance to Schools, Restaurants, Post Office, Clinic, Hardware, Library, Banking! This 2 - 3 Bedroom, 2.5 Bath, Home located in the Town of Franklin was nicely upgraded in 2021. Also added 2 Mini Splits & New Windows throughout at that time. Metal Roof, Wood & Electric heat, Town Water/Sewer. Large deck off of back with great mountain view. Covered parking and walk out basement. Perfect for those looking for a low maintenance property. Would make a great full time residence or a weekend getaway that's close to local attractions; Warner's Drive-In, Seneca Rocks, Smoke Hole Recreational area, Canaan Valley and Blackwater Fall, just to name a few.

23. 2025-04-14
    listed $150,000 Active 697-char remark

    Show marketing remark (697 chars)

    IDEALLY LOCATED within walking distance to Schools, Restaurants, Post Office, Clinic, Hardware, Library, Banking! This 2 - 3 Bedroom, 2.5 Bath, Home located in the Town of Franklin was nicely upgraded in 2021. Also added 2 Mini Splits & New Windows throughout at that time. Metal Roof, Wood & Electric heat, Town Water/Sewer. Large deck off of back with great mountain view. Covered parking and walk out basement. Perfect for those looking for a low maintenance property. Would make a great full time residence or a weekend getaway that's close to local attractions; Warner's Drive-In, Seneca Rocks, Smoke Hole Recreational area, Canaan Valley and Blackwater Fall, just to name a few.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,639
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$5,091
• Taxable loss: −$6,097
• Est. tax savings @ 24.0%: +$1,463
• After-tax cash flow: $-1,485/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: Pendleton County Schools
• NCES district ID: 5401080
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $36,262
• Composite: 32.31/100
• National rank: #5749
• State rank: #8 of 55 in WV

Livability — Franklin

• Score: 69/100
• State rank: #67
• US rank: #8230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, WV
• Population (ZIP): 2,361

Population outlook (Pendleton County) Hauer SSP2

• Today (2025): 6,110 people
• By 2030: 5,557 · -9.1%
• By 2040: 4,486 · -26.6%
• By 2050: 3,557 · -41.8%
• By 2075: 2,156 · -64.7%
• By 2100: 1,424 · -76.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 6% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Slovak 1% English 1% Serbian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pendleton

• 2024 margin: Solid R (+58.6) · D 19.9% · R 78.5% · Other 1.7%
• 2008→2024 swing: -37.2pp toward R · 2008: -21.4pp · 2024: -58.6pp
• All cycles: 2024: R+58.6 2020: R+53.6 2016: R+51.8 2012: R+31.6 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 170.4457
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+16.7% since first listed

5 events — show timeline

• 2026-05-07 Listed $175,000 BRIGHT MLS
• 2025-11-21 Sold (MLS) $132,000 BRIGHT MLS
• 2025-07-25 Pending — BRIGHT MLS
• 2025-05-30 Price Changed $139,000 BRIGHT MLS
• 2025-04-14 Listed $150,000 BRIGHT MLS