357 Washington St · Alderson, WV 24910

$69,900

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 43 Days on market

Built 1900 0.50 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 +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

In the heart of Alderson is this 1 story, 3 bed, 1 bath home. In need of being restored to the glory it is meant for. All one level, 1176 sqft, covered front & side porch, level yard and out of flood zone. Unfished basement and detached garage. Bring this beauty to the family it is longing for.

Key facts

• Covered front porch
• Level yard
• Out of flood zone

Tags

• COVERED FRONT PORCH
• COVERED SIDE PORCH
• LEVEL YARD
• OUT OF FLOOD ZONE

Property features AI

Exterior

• Parking: Detached or attached garage with 1 covered parking space (1 total parking space)
• Utilities: Public water; Public sewer; Electric service
• Home design: Residential property; Wood siding
• Construction: Shingle roof
• Exterior features: Covered patio/porch; Level lot; Has a view

Interior

• Kitchen: Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; No central cooling
• Interior features: Eat-in kitchen; Unfinished basement
• Laundry & utility: Has heating (oil)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

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 ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#177 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B, housing B; Watch: commute D, amenities F, employment F.
• Greenbrier County Schools (town): math 24% / reading 37% proficiency, ranked #31 of 55 in WV (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alderson Elementary (math 32% / reading 32%, grade F, #191 of 377 statewide, top 56%, 208 students, 0% FRL); Eastern Greenbrier Middle School (math 14% / reading 36%, grade F, #81 of 109 statewide, top 76%, 732 students, 0% FRL); Greenbrier East High School (math 21% / reading 51%, grade F, #39 of 110 statewide, top 36%, 1,014 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 74 units permitted in Greenbrier County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($483 loan paydown + $2k appreciation (2.1% local appreciation)).
• Greenbrier County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.83%
• DSCR: 1.93
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $198,744
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 N Monroe St	0.20mi	4/1.5 (+1)	1,122 (-5%)	7mo	$172,500	$154	70
163 Wilson St	0.27mi	3/2.0	1,332 (+13%)	8mo	$225,000	$169	55

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

Projected returns pro-forma

2.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.38×
• Total profit: $26,962
• Equity at exit: $28,135

10-year hold

• IRR: 26.9%
• Equity multiple: 4.56×
• Total profit: $69,667
• Equity at exit: $40,954

Cash invested: $19,572 (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 24910

• Home prices YoY: 1.0%
• Active inventory: 41
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,016 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$68 /mo · $812/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $340

Break-even live

Break-even rent $586

Max offer price $69,900

Occupancy floor 62%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $69,900 Active 43 DOM
2. 2026-06-17
   days on market $69,900 Active 42 DOM
3. 2026-06-16
   days on market $69,900 Active 41 DOM
4. 2026-06-15
   days on market $69,900 Active 40 DOM
5. 2026-06-15
   days on market $69,900 Active 39 DOM
6. 2026-06-13
   days on market $69,900 Active 38 DOM
7. 2026-06-12
   days on market $69,900 Active 37 DOM
8. 2026-06-09
   days on market $69,900 Active 34 DOM
9. 2026-06-08
   days on market $69,900 Active 33 DOM
10. 2026-06-08
    days on market $69,900 Active 32 DOM
11. 2026-06-07
    days on market $69,900 Active 31 DOM
12. 2026-06-04
    days on market $69,900 Active 29 DOM
13. 2026-06-03
    days on market $69,900 Active 28 DOM
14. 2026-06-02
    days on market $69,900 Active 27 DOM
15. 2026-06-01
    days on market $69,900 Active 26 DOM
16. 2026-05-31
    days on market $69,900 Active 25 DOM
17. 2026-05-06
    listed $69,900 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: $812 · $68/mo
• Projected year-2 tax: $812 · $68/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,198
• − Mortgage interest: −$3,915
• − Property taxes: −$812
• − Insurance: −$350
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$2,033
• Taxable income: $3,136
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $3,324/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: Greenbrier County Schools
• NCES district ID: 5400390
• Math proficiency: 24% ▼ -14.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $37,088
• Composite: 25.34/100
• National rank: #7477
• State rank: #31 of 55 in WV

Livability — Alderson

• Score: 62/100
• State rank: #177
• US rank: #16183

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alderson, WV
• Population (ZIP): 4,556

Population outlook (Greenbrier County) Hauer SSP2

• Today (2025): 35,394 people
• By 2030: 35,182 · -0.6%
• By 2040: 34,241 · -3.3%
• By 2050: 32,882 · -7.1%
• By 2075: 29,435 · -16.8%
• By 2100: 24,473 · -30.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 4% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Greenbrier

• 2024 margin: Solid R (+42.1) · D 28.0% · R 70.1% · Other 1.9%
• 2008→2024 swing: -29.9pp toward R · 2008: -12.3pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+39.6 2016: R+41.2 2012: R+24.8 2008: R+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.15%
• Current HPI: 221.6952
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-06 Listed $69,900 BBOR

Property tax history

+2.5%/yr

Latest (2025): $812 · +5.3% YoY. Source: county tax records.