406-08 Washington Ave · Huntington, WV 25701

$199,900

8 bd · 4.0 ba · 3,352 sqft · MultiFamily · 218 Days on market

Built 1900 10,454 sqft lot ↓ 13% 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• 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: 2 units. confirmed

Listing remarks

Two duplexes and an adjacent lot for future development! This property is ideal for someone looking to live in one unit while renting out the other 3, or for investors seeking strong rental income. Located close to downtown, this duplex offers the best of comfort and urban accessibility. The vacant lot beside the property transfers as well.

Key facts

• Urban accessibility
• Two duplexes
• Strong rental income

Tags

• TWO DUPLEXES
• STRONG RENTAL INCOME
• CLOSE TO DOWNTOWN
• URBAN ACCESSIBILITY

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property (fourplex); 2-story building
• Construction: Brick construction
• Exterior features: Front porch; Shingle roof; Level lot

Interior

• Kitchen: Range; Oven; Refrigerator
• Heating & cooling: Baseboard heating; Window unit air conditioning
• Interior features: Range, Oven, Refrigerator; Window air conditioning units; Baseboard heating

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive. Per door: $472/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 6.5% in Huntington — 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 79/100 on livability (#16 in WV, #2,045 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F, employment F.
• Cabell County Schools (urban): math 31% / reading 42% proficiency, ranked #13 of 55 in WV (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.6%/yr); 127 active listings in the ZIP; 61 units permitted in Cabell County in 2024 (5 in 5+ unit buildings).
• At $2,944/mo this rent would consume 63% of the median local household income ($56k/yr) (locally 1186% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.47% ✓
• Cap rate: 11.96%
• Cash-on-cash: 20.25%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $63,688
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
738-38R Washington Ave	0.28mi	8/3.0	3,404 (+2%)	10mo	$64,900	$19	72

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 1.77×
• Total profit: $43,353
• Equity at exit: $29,806

10-year hold

• IRR: 29.8%
• Equity multiple: 4.33×
• Total profit: $186,187
• Equity at exit: $17,284

Cash invested: $55,972 (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 25701

• Home prices YoY: -8.7%
• Rents YoY: 10.6%
• Active inventory: 127
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,944 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $944

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 63%

Sensitivity live

Price	-10% $1,082	-5% $1,013	+0% $944	+5% $875	+10% $806
Rent	-10% $712	-5% $828	+0% $944	+5% $1,061	+10% $1,177
Rate	-1.0pp $1,045	-0.5pp $995	base $944	+0.5pp $892	+1.0pp $840

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$2,944
Total (2 units)			$2,944

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $199,900 Active 218 DOM
2. 2026-06-18
   days on market $199,900 Active 217 DOM
3. 2026-06-17
   days on market $199,900 Active 216 DOM
4. 2026-06-16
   days on market $199,900 Active 215 DOM
5. 2026-06-15
   days on market $199,900 Active 214 DOM
6. 2026-06-14
   days on market $199,900 Active 212 DOM
7. 2026-06-12
   days on market $199,900 Active 211 DOM
8. 2026-06-09
   days on market $199,900 Active 208 DOM
9. 2026-06-08
   days on market $199,900 Active 207 DOM
10. 2026-06-07
    days on market $199,900 Active 206 DOM
11. 2026-06-05
    days on market $199,900 Active 203 DOM
12. 2026-06-03
    days on market $199,900 Active 202 DOM
13. 2026-06-02
    days on market $199,900 Active 201 DOM
14. 2026-06-01
    days on market $199,900 Active 200 DOM
15. 2026-05-31
    days on market $199,900 Active 199 DOM
16. 2026-05-30
    days on market $199,900 Active 198 DOM
17. 2026-04-18
    status Active
18. 2026-04-08
    status Pending
19. 2026-02-25
    price $199,900
20. 2025-12-14
    price $225,000
21. 2025-11-03
    listed $230,000 Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 19 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: $35,328
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,826
• − Management: −$2,826
• − Depreciation: −$5,815
• Taxable income: $8,665
• Est. tax owed @ 24.0%: −$2,080
• After-tax cash flow: $9,252/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: Cabell County Schools
• NCES district ID: 5400180
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $36,426
• Composite: 30.26/100
• National rank: #6285
• State rank: #13 of 55 in WV

Livability — Huntington

• Score: 79/100
• State rank: #16
• US rank: #2045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntington, WV
• County: Cabell County · 30,893 people
• City population: 25,795
• Metro: Huntington-Ashland, WV-KY-OH
• Population (ZIP): 21,197
• Household income: $56,292
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 1186.0

Population outlook (Cabell County) Hauer SSP2

• Today (2025): 97,574 people
• By 2030: 98,060 · +0.5%
• By 2040: 98,817 · +1.3%
• By 2050: 100,185 · +2.7%
• By 2075: 105,895 · +8.5%
• By 2100: 105,948 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 6% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 4% Italian 2% Serbian 2%
• Foreign-born: 2% · China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Cabell

• 2024 margin: Strong R (+21.9) · D 38.0% · R 59.9% · Other 2.0%
• 2008→2024 swing: -11.8pp toward R · 2008: -10.1pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.0 2016: R+25.5 2012: R+13.9 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.39%
• Current HPI: 202.9629
• Rent YoY: ▲ 10.58%
• Metro: Huntington-Ashland, WV-KY-OH
• State GDP YoY: —
• F500 in state: 0

Price history

-13.1% since first listed

5 events — show timeline

• 2026-04-18 Relisted — HBRMLS
• 2026-04-08 Pending — HBRMLS
• 2026-02-25 Price Changed $199,900 HBRMLS
• 2025-12-14 Price Changed $225,000 HBRMLS
• 2025-11-03 Listed $230,000 HBRMLS