53 Highland Ave · Morgantown, WV 26505

$140,000

4 bd · 2.0 ba · 1,568 sqft · SingleFamily public records · 416 Days on market

Built 1905 0.29 ac lot $89/sqft · 36% below area Est $218k · 36% under ↓ 6% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This centrally located fixer-upper is full of potential and ideal for investors or homeowners looking to add value. Located just minutes from downtown, all local schools, and the desirable Suncrest area, this property offers convenience and opportunity. Currently a 5 bed, 2 bath home, it has the layout to be converted into two separate units: a 4 bed, 1 bath and a 1 bed, 1 bath — live in one and rent out the other for additional income. Hard wood floors run throughout the home and could be brought back to life with refinishing. Don’t miss the chance to turn this diamond in the rough into a true gem!

Key facts

• Hard wood floors
• 0.29 acre lot
• Built 1905

Tags

• HARD WOOD FLOORS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: schools D+, 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.
• 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).
• This rent runs 41% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 416 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 416 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.12% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (median comp): $218,085
• List price: $140,000
• Delta: -35.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Protzman	0.12mi	3/2.5 (-1)	1,641 (+5%)	5mo	$205,000	$125	75
146 Hoffman Ave	0.32mi	3/2.0 (-1)	1,616 (+3%)	7mo	$205,000	$127	69
845 Stewart St	0.33mi	4/2.0	1,408 (-10%)	1mo	$313,000	$222	67
348 Virginia Ave	0.10mi	3/2.0 (-1)	1,732 (+10%)	7mo	$135,000	$78	67
255 Spring St	0.36mi	3/2.0 (-1)	1,678 (+7%)	4mo	$240,000	$143	63
524 Melrose St	0.24mi	3/1.0 (-1)	1,423 (-9%)	2mo	$228,000	$160	63
277 Randolph Rd	0.44mi	3/2.5 (-1)	1,627 (+4%)	5mo	$264,000	$162	62
524 Pearl	0.68mi	3/2.0 (-1)	1,530 (-2%)	3mo	$220,000	$144	57
229 Cornell Ave	0.32mi	3/1.0 (-1)	1,714 (+9%)	6mo	$172,000	$100	56
16 Warrick St	0.34mi	3/2.0 (-1)	1,769 (+13%)	5mo	$256,000	$145	53
824 Louise Ave	0.70mi	3/2.0 (-1)	1,500 (-4%)	4mo	$260,000	$173	52
824 Monongalia Ave	0.66mi	3/2.0 (-1)	1,426 (-9%)	1mo	$320,000	$224	48

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $2,904
• Equity at exit: $20,874

10-year hold

• IRR: 13.7%
• Equity multiple: 2.21×
• Total profit: $47,453
• Equity at exit: $12,105

Cash invested: $39,200 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,566 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$105 /mo · $1,262/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $340

Break-even live

Break-even rent $1,136

Max offer price $140,000

Occupancy floor 73%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $140,000 Active 416 DOM
2. 2026-06-18
   days on market $140,000 Active 415 DOM
3. 2026-06-17
   days on market $140,000 Active 414 DOM
4. 2026-06-16
   days on market $140,000 Active 413 DOM
5. 2026-06-15
   days on market $140,000 Active 412 DOM
6. 2026-06-14
   days on market $140,000 Active 410 DOM
7. 2026-06-13
   days on market $140,000 Active 409 DOM
8. 2026-06-10
   days on market $140,000 Active 407 DOM
9. 2026-06-09
   days on market $140,000 Active 406 DOM
10. 2026-06-08
    days on market $140,000 Active 405 DOM
11. 2026-06-07
    days on market $140,000 Active 404 DOM
12. 2026-06-05
    days on market $140,000 Active 401 DOM
13. 2026-06-03
    days on market $140,000 Active 400 DOM
14. 2026-06-02
    days on market $140,000 Active 399 DOM
15. 2026-06-01
    days on market $140,000 Active 398 DOM
16. 2026-05-31
    days on market $140,000 Active 397 DOM
17. 2026-05-30
    days on market $140,000 Active 396 DOM
18. 2025-08-13
    price $140,000 618-char remark

    Show marketing remark (618 chars)

    This centrally located fixer-upper is full of potential and ideal for investors or homeowners looking to add value. Located just minutes from downtown, all local schools, and the desirable Suncrest area, this property offers convenience and opportunity. Currently a 5 bed, 2 bath home, it has the layout to be converted into two separate units: a 4 bed, 1 bath and a 1 bed, 1 bath — live in one and rent out the other for additional income. Hard wood floors run throughout the home and could be brought back to life with refinishing. Don’t miss the chance to turn this diamond in the rough into a true gem!

19. 2025-05-06
    price $150,000 618-char remark

    Show marketing remark (618 chars)

    This centrally located fixer-upper is full of potential and ideal for investors or homeowners looking to add value. Located just minutes from downtown, all local schools, and the desirable Suncrest area, this property offers convenience and opportunity. Currently a 5 bed, 2 bath home, it has the layout to be converted into two separate units: a 4 bed, 1 bath and a 1 bed, 1 bath — live in one and rent out the other for additional income. Hard wood floors run throughout the home and could be brought back to life with refinishing. Don’t miss the chance to turn this diamond in the rough into a true gem!

20. 2025-04-29
    listed $160,000 Active 618-char remark

    Show marketing remark (618 chars)

    This centrally located fixer-upper is full of potential and ideal for investors or homeowners looking to add value. Located just minutes from downtown, all local schools, and the desirable Suncrest area, this property offers convenience and opportunity. Currently a 5 bed, 2 bath home, it has the layout to be converted into two separate units: a 4 bed, 1 bath and a 1 bed, 1 bath — live in one and rent out the other for additional income. Hard wood floors run throughout the home and could be brought back to life with refinishing. Don’t miss the chance to turn this diamond in the rough into a true gem!

21. 2014-10-27
    soldstatus $140,000
22. 2014-10-23
    soldstatus $140,000 375-char remark

    Show marketing remark (375 chars)

    2 Story Charmer! Spacious rooms, original hardwoods, remodeled kitchen and more. Excellent opportunity with in-law suite potential all within walking distance to downtown & Evansdale Campus. House situate on full lot with additional 1/2 lot side yards. House will need heat source added. Permit parking should be available in August! Historical appeal. .. a must see.

23. 2014-06-16
    listed $149,000 375-char remark

    Show marketing remark (375 chars)

    2 Story Charmer! Spacious rooms, original hardwoods, remodeled kitchen and more. Excellent opportunity with in-law suite potential all within walking distance to downtown & Evansdale Campus. House situate on full lot with additional 1/2 lot side yards. House will need heat source added. Permit parking should be available in August! Historical appeal. .. a must see.

ⓘ 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: $1,262 · $105/mo
• Projected year-2 tax: $1,262 · $105/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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,796
• − Mortgage interest: −$7,842
• − Property taxes: −$1,262
• − Insurance: −$700
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$4,073
• Taxable income: $1,912
• Est. tax owed @ 24.0%: −$459
• After-tax cash flow: $3,618/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

-6.0% since first listed

6 events — show timeline

• 2025-08-13 Price Changed $140,000 NCWVREIN
• 2025-05-06 Price Changed $150,000 NCWVREIN
• 2025-04-29 Listed $160,000 NCWVREIN
• 2014-10-27 Sold (Public Records) $140,000 Public Records
• 2014-10-23 Sold (MLS) $140,000 NCWVREIN
• 2014-06-16 Listed $149,000 NCWVREIN

Property tax history

-3.8%/yr

Latest (2025): $1,262 · +0.2% YoY. Source: county tax records.