428-430 Grant St · Newell, WV 26050

$98,900

4 bd · 2.0 ba · 2,059 sqft · MultiFamily public records · 23 Days on market

Built 1910 3,301 sqft lot Est $163k · 39% under ↓ 18% since listing

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Why this score? — see what drove the A 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
• DSCR +10.0/10.0
• Appreciation +9.9/10.0
• 1% rule +9.4/10.0
• Schools +3.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Townhouse style duplex on corner lot, centrally located in town. Both units 2 bed, 1 bath. Both occupied. Nice yard, well maintained units.

Key facts

• Centrally located
• Corner lot
• 3,301 sq ft lot

Tags

• CORNER LOT
• CENTRALLY LOCATED
• WELL MAINTAINED UNITS

Property features AI

Finance

• Other: Above-grade finished area reported as 2,059 (source: Assessor)
• Financial info: Gross monthly income listed as $1,414; Unit 1 actual rent $664 (leased); Unit 2 actual rent $750 (leased); Owner pays taxes; tenants pay all utilities

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-family building, 2 stories
• Construction: Vinyl siding; Asphalt roof; Built year source: Assessor
• Exterior features: Faces south

Interior

• Bedrooms: Two 2-bedroom units (each unit leased through June 1, 2026)
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive. Per door: $261/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#213 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety C-, schools F, amenities F.
• Hancock County Schools (urban): math 37% / reading 43% proficiency, ranked #7 of 55 in WV (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 15 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($684 loan paydown + $10k appreciation (9.8% local appreciation)).
• Hancock County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,416 (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 1910 — 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 F-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: 1.44% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.64%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $162,661
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Grant St	0.22mi	4/2.0	1,872 (-9%)	9mo	$148,500	$79	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.9%
• Equity multiple: 4.09×
• Total profit: $85,544
• Equity at exit: $87,432

10-year hold

• IRR: 35.4%
• Equity multiple: 9.14×
• Total profit: $225,286
• Equity at exit: $186,807

Cash invested: $27,692 (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 26050

• Home prices YoY: 6.4%
• Active inventory: 5
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $522

Break-even live

Break-even rent $764

Max offer price $98,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,424
Total (2 units)			$1,425

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $98,900 Active 23 DOM
2. 2026-06-18
   days on market $98,900 Active 22 DOM
3. 2026-06-17
   days on market $98,900 Active 21 DOM
4. 2026-06-16
   days on market $98,900 Active 20 DOM
5. 2026-06-15
   days on market $98,900 Active 19 DOM
6. 2026-06-14
   days on market $98,900 Active 17 DOM
7. 2026-06-12
   days on market $98,900 Active 16 DOM
8. 2026-06-09
   days on market $98,900 Active 13 DOM
9. 2026-06-08
   days on market $98,900 Active 12 DOM
10. 2026-06-07
    days on market $98,900 Active 11 DOM
11. 2026-06-07
    days on market $98,900 Active 10 DOM
12. 2026-06-04
    days on market $98,900 Active 7 DOM
13. 2026-06-02
    days on market $98,900 Active 6 DOM
14. 2026-06-01
    days on market $98,900 Active 5 DOM
15. 2026-05-31
    days on market $98,900 Active 4 DOM
16. 2026-05-31
    days on market $98,900 Active 3 DOM
17. 2026-05-27
    listed $98,900 Active
18. 2026-03-28
    historical
19. 2025-12-12
    price $98,900
20. 2025-06-27
    price $105,100
21. 2025-06-02
    price $109,900
22. 2025-05-03
    price $119,600
23. 2025-03-27
    listed $130,000 Active
24. 2024-11-01
    historical
25. 2024-05-01
    listed $120,000 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: $522 · $43/mo
• Projected year-2 tax: $584 · $49/mo
• Expected delta: +$62/yr (+$5/mo · 11.8%)

ⓘ 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 8 d/yr ≥97°F today · 19 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: $17,100
• − Mortgage interest: −$5,540
• − Property taxes: −$522
• − Insurance: −$494
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$2,877
• Taxable income: $4,931
• Est. tax owed @ 24.0%: −$1,183
• After-tax cash flow: $5,086/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: Hancock County Schools
• NCES district ID: 5400450
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $39,803
• Composite: 33.5/100
• National rank: #5445
• State rank: #7 of 55 in WV

Livability — Newell

• Score: 60/100
• State rank: #213
• US rank: #18588

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newell, WV
• Population (ZIP): 1,504

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 28,704 people
• By 2030: 27,913 · -2.8%
• By 2040: 26,078 · -9.1%
• By 2050: 24,521 · -14.6%
• By 2075: 21,630 · -24.6%
• By 2100: 17,867 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Asian 2%
• Common ancestry: Italian 5% Serbian 3% Romanian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · Tagalog/Filipino 2%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+46.8) · D 25.8% · R 72.6% · Other 1.6%
• 2008→2024 swing: -31.6pp toward R · 2008: -15.2pp · 2024: -46.8pp
• All cycles: 2024: R+46.8 2020: R+43.6 2016: R+44.5 2012: R+21.6 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.77%
• Current HPI: 161.7743
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-17.6% since first listed

9 events — show timeline

• 2026-05-27 Listed $98,900 MLSNOW
• 2026-03-28 Listing Removed — MLSNOW
• 2025-12-12 Price Changed $98,900 MLSNOW
• 2025-06-27 Price Changed $105,100 MLSNOW
• 2025-06-02 Price Changed $109,900 MLSNOW
• 2025-05-03 Price Changed $119,600 MLSNOW
• 2025-03-27 Listed $130,000 MLSNOW
• 2024-11-01 Listing Removed — MLSNOW
• 2024-05-01 Listed $120,000 MLSNOW

Property tax history

+1.2%/yr

Latest (2025): $522 · +4.9% YoY. Source: county tax records.