193 Halpine St · Morgantown, WV 26505

$51,900

1 bd · 0.5 ba · 392 sqft · SingleFamily public records · 77 Days on market

Built 1945 Poor condition 0.57 ac lot $132/sqft · 42% below area Est $91k · 43% under ↓ 12% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of five versatile lots ready for your vision. With electricity already established and a cabin currently situated on the property, this unique offering provides a head start for developers, investors, builders, or anyone looking to create something special. Surrounded by existing residential homes, the property offers the convenience of integrating into an established community while still providing room to grow and develop. Ideally located with easy access to major highways, Morgantown, and surrounding regional destinations, these lots combine accessibility with the natural beauty that makes West Virginia so desirable.

Key facts

• Five versatile lots
• 0.57 acre lot
• Built 1945

Tags

• FIVE VERSATILE LOTS
• CABIN CURRENTLY SITUATED
• EASY ACCESS TO MAJOR HIGHWAYS
• EXISTING INFRASTRUCTURE

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath single-family listed at $52k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $52k).
• Recommended offer: $49k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 3.4% 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: Brookhaven Elementary School (math 49% / reading 56%, grade C-, #38 of 377 statewide, top 10%, 571 students, 0% FRL); South Middle School (math 33% / reading 48%, grade F, #16 of 109 statewide, top 16%, 755 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); 164 active listings in the ZIP; 23 units permitted in Monongalia County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $359 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,786 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.85% ✓
• Cap rate: 16.14%
• Cash-on-cash: 35.15%
• DSCR: 2.56
• GRM: 4.5

CMA / ARV

• ARV (median comp): $90,970
• List price: $51,900
• Delta: -42.95%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 Astor Ave	2.17mi	1/1.0	400 (+2%)	6mo	$129,000	$323	54
495 Falling Run	1.56mi	1/1.0	506 (+29%)	22mo	$100,000	$198	20
48 W Main St	2.15mi	1/1.0	472 (+20%)	40mo	$125,000	$265	18
811 Monongalia	1.21mi	1/1.0	494 (+26%)	55mo	$60,000	$121	18

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: 33.4%
• Equity multiple: 2.45×
• Total profit: $21,133
• Equity at exit: $7,738

10-year hold

• IRR: 41.6%
• Equity multiple: 5.39×
• Total profit: $63,798
• Equity at exit: $4,487

Cash invested: $14,532 (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: 164
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$272
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $426

Break-even live

Break-even rent $420

Max offer price $51,900

Occupancy floor 51%

Sensitivity live

Price	-10% $455	-5% $440	+0% $426	+5% $411	+10% $396
Rent	-10% $350	-5% $388	+0% $426	+5% $464	+10% $501
Rate	-1.0pp $452	-0.5pp $439	base $426	+0.5pp $412	+1.0pp $399

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: $12,975
• Closing costs: $1,557
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Directions provided for property access
• Financial info: Annual tax amount listed as $453

Exterior

• Parking: Other parking
• Home design: Single-family detached residenceOne story
• Construction: Year built not providedConstruction materials not providedRoof and foundation details not provided
• Exterior features: Irregular lot roughly 250 x 100Frontage type: Other

Interior

• Bedrooms: Information not provided
• Bathrooms: 1 half bathroom
• Interior features: Total of 2 rooms

Listing history 50 events

1. 2026-08-21
   days on market $51,900 Active 77 DOM
2. 2026-08-20
   days on market $51,900 Active 76 DOM
3. 2026-08-19
   days on market $51,900 Active 75 DOM
4. 2026-08-18
   days on market $51,900 Active 74 DOM
5. 2026-08-17
   days on market $51,900 Active 73 DOM
6. 2026-08-16
   days on market $51,900 Active 72 DOM
7. 2026-08-15
   days on market $51,900 Active 71 DOM
8. 2026-08-14
   days on market $51,900 Active 70 DOM
9. 2026-08-13
   days on market $51,900 Active 69 DOM
10. 2026-08-12
    days on market $51,900 Active 68 DOM
11. 2026-08-11
    days on market $51,900 Active 67 DOM
12. 2026-08-10
    days on market $51,900 Active 66 DOM
13. 2026-08-09
    days on market $51,900 Active 65 DOM
14. 2026-08-08
    days on market $51,900 Active 64 DOM
15. 2026-08-07
    days on market $51,900 Active 63 DOM
16. 2026-08-06
    days on market $51,900 Active 62 DOM
17. 2026-08-05
    days on market $51,900 Active 61 DOM
18. 2026-08-04
    days on market $51,900 Active 60 DOM
19. 2026-08-03
    days on market $51,900 Active 59 DOM
20. 2026-07-31
    days on market $51,900 Active 56 DOM
21. 2026-07-30
    price $51,900 Active 54 DOM
22. 2026-07-29
    days on market $52,900 Active 54 DOM
23. 2026-07-27
    days on market $52,900 Active 52 DOM
24. 2026-07-25
    days on market $52,900 Active 50 DOM
25. 2026-07-24
    days on market $52,900 Active 49 DOM
26. 2026-07-23
    days on market $52,900 Active 48 DOM
27. 2026-07-22
    days on market $52,900 Active 47 DOM
28. 2026-07-21
    days on market $52,900 Active 46 DOM
29. 2026-07-18
    days on market $52,900 Active 43 DOM
30. 2026-07-16
    days on market $52,900 Active 41 DOM
31. 2026-07-16
    pricedays on market $52,900 Active 40 DOM
32. 2026-07-14
    days on market $54,900 Active 39 DOM
33. 2026-07-13
    days on market $54,900 Active 38 DOM
34. 2026-07-12
    days on market $54,900 Active 37 DOM
35. 2026-07-11
    days on market $54,900 Active 36 DOM
36. 2026-07-10
    days on market $54,900 Active 35 DOM
37. 2026-07-09
    pricedays on market $54,900 Active 34 DOM
38. 2026-07-08
    days on market $59,900 Active 33 DOM
39. 2026-07-07
    days on market $59,900 Active 32 DOM
40. 2026-07-06
    days on market $59,900 Active 31 DOM
41. 2026-07-05
    days on market $59,900 Active 30 DOM
42. 2026-07-04
    days on market $59,900 Active 29 DOM
43. 2026-07-03
    days on market $59,900 Active 28 DOM
44. 2026-07-02
    pricedays on market $59,900 Active 27 DOM
45. 2026-07-01
    days on market $64,999 Active 26 DOM
46. 2026-06-30
    days on marketlisting id $64,999 Active 25 DOM
47. 2026-06-30
    days on marketlisting id $64,999 Active 1 DOM
48. 2026-06-29
    days on market $64,999 Active 24 DOM
49. 2026-06-28
    days on market $64,999 Active 23 DOM
50. 2026-06-28
    days on market $64,999 Active 22 DOM

ⓘ 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: $453 · $38/mo
• Projected year-2 tax: $453 · $38/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 ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,503
• − Mortgage interest: −$2,907
• − Property taxes: −$453
• − Insurance: −$260
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$1,510
• Taxable income: $4,533
• Est. tax owed @ 24.0%: −$1,088
• After-tax cash flow: $4,021/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab Est. rehab $19,600–$35,280 screening

This property requires extensive repairs and maintenance, including a new roof and exterior siding, as well as landscaping improvements. These updates will significantly increase its resale and rental value.

Deferred maintenance Est. $10,000–$30,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — rooftop is not visible, but there is a large amount of moss and algae growth on the roof, which is a sign of significant water damage and potential structural issues.

Repairs flagged

• Major roof — The roof appears to be in poor condition with visible damage.
• Major exterior siding — The exterior siding is peeling and in need of repainting or replacement.
• Major landscaping — The landscaping is overgrown and in need of maintenance.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's appearance and increase its resale value. ↑
• Resale exterior siding replacement — A new exterior siding will improve the home's appearance and increase its resale value. ↑
• Both landscaping — A well-maintained landscape will improve the home's curb appeal and increase both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Brookhaven Elementary School C- WV #38/377 Nat'l #11,114/41,679 Middle South Middle School F WV #16/109 Nat'l #5,872/14,009 High Morgantown High School C+ WV #2/110 Nat'l #3,443/17,239

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

A Composite livability gradescore 84/100

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 · 122,188 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: 16% of renters

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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%

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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%

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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

Property features AI

Finance

• Other: Directions provided for property access
• Financial info: Annual tax amount listed as $453

Exterior

• Parking: Other parking
• Home design: Single-family detached residenceOne story
• Construction: Year built not providedConstruction materials not providedRoof and foundation details not provided
• Exterior features: Irregular lot roughly 250 x 100Frontage type: Other

Interior

• Bedrooms: Information not provided
• Bathrooms: 1 half bathroom
• Interior features: Total of 2 rooms

Price history

-11.9% since first listed

3 events — show timeline

• 2026-07-01 Price Changed $59,900 NCWVREIN
• 2026-06-24 Price Changed $64,999 NCWVREIN
• 2026-06-05 Listed $68,000 NCWVREIN

Property tax history

-5.2%/yr

Latest (2025): $453 · +0.2% YoY. Source: county tax records.