609 Granada Way · Charleston, WV 25304

$145,000

3 bd · 2.5 ba · 1,510 sqft · SingleFamily public records · 1 Days on market

Built 1951 4,792 sqft lot Est $202k · 28% under

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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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HOME SWEET HOME Just what you need after a long day. Situated on a flat Kanawha City, this charming one-and-a-half-story home offers 3 bedrooms and 2,5 baths. The property features a spacious family room on the lower level. Also includes a one-car garage and parking pad for additional parking. Great Schools, Close to the hospital, dining, and interstate. Call for an appointment to make this your new home on a quiet, dead-end street.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1951

Property features AI

Exterior

• Parking: Garage; Parking pad; 1-car garage
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding; Composition/shingle roof
• Exterior features: Porch

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and other living spaces)
• Flooring: Concrete; Hardwood; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Insulated windows; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $38 ($457/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (12.3% below list).
• Recommended offer: $127k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.8% in Charleston — 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 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kanawha City Elementary School (math 32% / reading 27%, grade F, #225 of 377 statewide, top 68%, 242 students, 0% FRL); Horace Mann Middle School (math 35% / reading 42%, grade F, #23 of 109 statewide, top 21%, 399 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,198 (12.3% below list)

Questions for the listing agent

1. Built in 1951 — 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 A-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. 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: 0.88% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $202,340
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2907 Noyes Ave SE	0.50mi	3/1.5	1,568 (+4%)	8mo	$235,200	$150	59
3906 Noyes Ave	0.61mi	3/2.0	1,564 (+4%)	7mo	$242,000	$155	58
3613 Kanawha Ave SE	0.52mi	3/2.0	1,444 (-4%)	12mo	$125,000	$87	56
2923 Noyes Ave	0.43mi	3/1.0	1,450 (-4%)	17mo	$139,000	$96	53
3801 Noyes Ave	0.48mi	3/1.5	1,414 (-6%)	19mo	$190,000	$134	47
4203 Venable Ave	0.69mi	3/1.5	1,350 (-11%)	4mo	$130,000	$96	43
2431 Washington St	0.67mi	3/2.0	1,700 (+13%)	10mo	$115,000	$68	37
3107 Kanawha Ave	0.48mi	4/2.0 (+1)	1,296 (-14%)	14mo	$200,000	$154	36
4206 Venable Ave	0.71mi	3/2.0	1,688 (+12%)	19mo	$205,000	$121	29
609 42nd St SE	0.62mi	3/2.0	1,294 (-14%)	23mo	$194,900	$151	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-21,072
• Equity at exit: $21,620

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-15,234
• Equity at exit: $12,537

Cash invested: $40,600 (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 25304

• Home prices YoY: -20.8%
• Active inventory: 52
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,272 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$79 /mo · $954/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $38

Break-even live

Break-even rent $1,224

Max offer price $145,000

Occupancy floor 92%

Sensitivity live

Price	-10% $120	-5% $79	+0% $38	+5% $-3	+10% $-44
Rent	-10% $-62	-5% $-12	+0% $38	+5% $88	+10% $139
Rate	-1.0pp $111	-0.5pp $75	base $38	+0.5pp $1	+1.0pp $-38

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-18
   status Pending
2. 2026-05-15
   listed $145,000 Active

ⓘ 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: $954 · $79/mo
• Projected year-2 tax: $954 · $79/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 20 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: $15,264
• − Mortgage interest: −$8,122
• − Property taxes: −$954
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$4,218
• Taxable loss: −$1,995
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $936/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: Kanawha County Schools
• NCES district ID: 5400600
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $44,329
• Composite: 29.35/100
• National rank: #6540
• State rank: #17 of 55 in WV

Livability — Charleston

• Score: 85/100
• State rank: #3
• US rank: #524

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, WV
• City population: 33,502
• Population (ZIP): 8,480

Population outlook (Kanawha County) Hauer SSP2

• Today (2025): 178,946 people
• By 2030: 172,906 · -3.4%
• By 2040: 159,874 · -10.7%
• By 2050: 148,148 · -17.2%
• By 2075: 123,257 · -31.1%
• By 2100: 96,454 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 5% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 92% English-only · Arabic 4% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Kanawha

• 2024 margin: R (+17.4) · D 40.2% · R 57.6% · Other 2.2%
• 2008→2024 swing: -17.0pp toward R · 2008: -0.4pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.7 2016: R+20.6 2012: R+11.9 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.96%
• Current HPI: 175.5065
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-18 Pending — KVBOR
• 2026-05-15 Listed $145,000 KVBOR

Property tax history

+8.2%/yr

Latest (2025): $954 · +6.5% YoY. Source: county tax records.