55 Jones Ave · Morgantown, WV 26505

$350,000

4 bd · 2.0 ba · 2,249 sqft · MultiFamily public records · 29 Days on market

Built 1917 5,000 sqft lot Est $247k · 41% over

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Why this score? — see what drove the C 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Conveniently located triplex near WVU's downtown campus offers ample off street parking, common laundry, and a detached 38x32 two story garage. Don't miss out on the chance to add this income producing property to your investment portfolio! * See agent remarks *

Key facts

• Off street parking
• Common laundry
• Detached garage

Tags

• OFF STREET PARKING
• COMMON LAUNDRY
• DETACHED GARAGE

Property features AI

Finance

• Other: Property used as residential income (multi-family)

Exterior

• Parking: Detached garage; On-street parking; 2 garage spaces; Rear parking access from Quay Street
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Multi-family residential (2–4 family); Three-story building
• Construction: Aluminum siding; Block construction; Frame construction; Shingle roof
• Exterior features: Shingle roof; Aluminum siding, block and frame construction

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Two 1-bedroom units; One 2-bedroom unit
• Flooring: Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot water heating (natural gas); Window air conditioning units
• Interior features: Balcony; Porch; Smoke detectors
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $373/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: Suncrest Elementary School (math 55% / reading 54%, grade C, #29 of 377 statewide, top 10%, 567 students, 0% FRL); Suncrest Middle School (math 46% / reading 57%, grade C, #4 of 109 statewide, top 3%, 501 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 fast (+5.5%/yr); 119 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).
• At $4,184/mo this rent would consume 110% 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 $2k of loan paydown is wiped out by about $10k 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 $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $350k implies a 465% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,750 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1917 — 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. 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: 1.20% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $247,390
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 Highland Ave	0.16mi	4/2.0	2,100 (-7%)	18mo	$230,000	$110	67
445 Overhill	0.20mi	4/2.0	1,948 (-13%)	14mo	$10,000	$5	57
528 NE Grove St	0.36mi	5/3.0 (+1)	1,952 (-13%)	12mo	$220,000	$113	42
250 & 252 Randolph	0.55mi	4/2.0	1,932 (-14%)	18mo	$255,000	$132	36
258 Randolph Rd	0.56mi	4/2.0	1,924 (-14%)	20mo	$155,000	$81	33

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: 6.4%
• Equity multiple: 1.26×
• Total profit: $25,140
• Equity at exit: $52,186

10-year hold

• IRR: 17.7%
• Equity multiple: 2.62×
• Total profit: $159,198
• Equity at exit: $30,262

Cash invested: $98,000 (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 26505

• Home prices YoY: -31.9%
• Rents YoY: 5.5%
• Active inventory: 119
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $4,184 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$204 /mo · $2,451/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$879
• Net cashflow: $1,120

Break-even live

Break-even rent $2,766

Max offer price $350,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$4,185
Total (3 units)			$4,184

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $350,000 Active 29 DOM
2. 2026-06-18
   days on market $350,000 Active 28 DOM
3. 2026-06-17
   days on market $350,000 Active 27 DOM
4. 2026-06-16
   days on market $350,000 Active 26 DOM
5. 2026-06-15
   days on market $350,000 Active 25 DOM
6. 2026-06-14
   days on market $350,000 Active 23 DOM
7. 2026-06-13
   days on market $350,000 Active 22 DOM
8. 2026-06-10
   days on market $350,000 Active 20 DOM
9. 2026-06-09
   days on market $350,000 Active 19 DOM
10. 2026-06-08
    days on market $350,000 Active 18 DOM
11. 2026-06-07
    days on market $350,000 Active 17 DOM
12. 2026-06-05
    days on market $350,000 Active 14 DOM
13. 2026-06-03
    days on market $350,000 Active 13 DOM
14. 2026-06-02
    days on market $350,000 Active 12 DOM
15. 2026-06-01
    days on market $350,000 Active 11 DOM
16. 2026-05-31
    days on market $350,000 Active 10 DOM
17. 2026-05-30
    days on market $350,000 Active 9 DOM
18. 2026-05-21
    listed $350,000 Active
19. 1996-11-26
    soldstatus $62,000

ⓘ 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: $2,451 · $204/mo
• Projected year-2 tax: $2,451 · $204/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 · 19 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: $50,208
• − Mortgage interest: −$19,605
• − Property taxes: −$2,451
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,017
• − Management: −$4,017
• − Depreciation: −$10,182
• Taxable income: $8,187
• Est. tax owed @ 24.0%: −$1,965
• After-tax cash flow: $11,474/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

+464.5% since first listed

2 events — show timeline

• 2026-05-21 Listed $350,000 NCWVREIN
• 1996-11-26 Sold (Public Records) $62,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,451 · +64.9% YoY. Source: county tax records.