193 Halpine St · Morgantown, WV 26505

$68,000

1 bd · 0.5 ba · 392 sqft · SingleFamily public records · 14 Days on market

Built 1945 0.57 ac lot

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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 +7.8/10.0
• ARV discount +7.5/15.0
• 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

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. Utilities appear to be available, and the existing

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

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 residence; One story
• Construction: Year built not provided; Construction materials not provided; Roof and foundation details not provided
• Exterior features: Irregular lot roughly 250 x 100; Frontage type: Other

Interior

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

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $68k).
• Cap rate 11.0% 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: 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); 119 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 $470 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 $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $68,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.42×
• Total profit: $8,080
• Equity at exit: $10,139

10-year hold

• IRR: 21.3%
• Equity multiple: 3.01×
• Total profit: $38,274
• Equity at exit: $5,879

Cash invested: $19,040 (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: 6.5×

Monthly cashflow live

• Estimated rent: $871 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $265

Break-even live

Break-even rent $535

Max offer price $68,000

Occupancy floor 65%

Sensitivity live

Price	-10% $304	-5% $285	+0% $265	+5% $246	+10% $227
Rent	-10% $197	-5% $231	+0% $265	+5% $300	+10% $334
Rate	-1.0pp $300	-0.5pp $283	base $265	+0.5pp $248	+1.0pp $230

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $68,000 Active 14 DOM
2. 2026-06-18
   days on market $68,000 Active 13 DOM
3. 2026-06-17
   days on market $68,000 Active 12 DOM
4. 2026-06-16
   days on market $68,000 Active 11 DOM
5. 2026-06-15
   days on market $68,000 Active 10 DOM
6. 2026-06-14
   days on market $68,000 Active 8 DOM
7. 2026-06-13
   days on market $68,000 Active 7 DOM
8. 2026-06-10
   days on market $68,000 Active 5 DOM
9. 2026-06-09
   days on market $68,000 Active 4 DOM
10. 2026-06-08
    days on market $68,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $68,000 Active 2 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 2/10 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: $10,453
• − Mortgage interest: −$3,809
• − Property taxes: −$453
• − Insurance: −$340
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$1,978
• Taxable income: $2,200
• Est. tax owed @ 24.0%: −$528
• After-tax cash flow: $2,657/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

1 event — show timeline

• 2026-06-05 Listed $68,000 NCWVREIN

Property tax history

-5.2%/yr

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