4221-4223 Wood St · Wheeling, WV 26003

$165,000

3 bd · 2.0 ba · 3,200 sqft · MultiFamily public records · 134 Days on market

Built 1920 5,227 sqft lot $52/sqft · 114% above area ↓ 8% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

* * INVESTOR SPECIAL!! * * Great INCOME PRODUCING 3-unit multiplex with CONSISTENT CASH flow & key updates already completed. TWO NEW FURNACES and a NEW WALL UNIT HEATER installed in January. One unit features 3 Bedrooms/1 Bath, generating $1200/month in rent. The other two units each offer 1 Bedroom/1Bath, generating $850/month each. Generously sized rooms throughout. Owner pays utilities. Utilities are partially separated on two gas, electric and water meters split by the two sides. The two units on the right, the 4221 Wood side, share a meter. A flat rubber roof installed a few yrs ago by prior owner. A strong opportunity for investors seeking STEADY CASH FLOW. Schedule your viewing today!

Key facts

• Flat rubber roof
• New furnaces
• New wall unit heater

Tags

• NEW FURNACES
• NEW WALL UNIT HEATER
• FLAT RUBBER ROOF

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $529/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 4.3% in Wheeling — 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 69/100 on livability (#74 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Ohio County Schools (urban): math 34% / reading 49% proficiency, ranked #5 of 55 in WV (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 223 active listings in the ZIP; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).
• At $3,855/mo this rent would consume 80% of the median local household income ($58k/yr) (locally 1630% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ohio County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-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?
9. 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?
10. 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.
11. 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.
12. 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: 2.34% ✓
• Cap rate: 21.19%
• Cash-on-cash: 53.20%
• DSCR: 3.37
• GRM: 3.6

CMA / ARV

• ARV (median comp): $77,188
• List price: $165,000
• Delta: 113.76%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75-77 46th St	0.25mi	4/4.0 (+1)	3,552 (+11%)	18mo	$32,700	$9	42

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 37.9%
• Equity multiple: 2.62×
• Total profit: $74,751
• Equity at exit: $24,602

10-year hold

• IRR: 44.5%
• Equity multiple: 5.26×
• Total profit: $196,805
• Equity at exit: $14,266

Cash invested: $46,200 (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 26003

• Home prices YoY: -23.4%
• Rents YoY: 3.0%
• Active inventory: 223
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $3,855 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$63 /mo · $760/yr
• Insurance: −$69
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$810
• Net cashflow: $1,588

Break-even live

Break-even rent $1,845

Max offer price $165,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$3,855
Total (3 units)			$3,855

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $165,000 Active 134 DOM
2. 2026-06-18
   days on market $165,000 Active 133 DOM
3. 2026-06-17
   days on market $165,000 Active 132 DOM
4. 2026-06-16
   days on market $165,000 Active 131 DOM
5. 2026-06-15
   days on market $165,000 Active 130 DOM
6. 2026-06-14
   days on market $165,000 Active 128 DOM
7. 2026-06-12
   days on market $165,000 Active 127 DOM
8. 2026-06-09
   days on market $165,000 Active 124 DOM
9. 2026-06-08
   days on market $165,000 Active 123 DOM
10. 2026-06-07
    days on market $165,000 Active 122 DOM
11. 2026-06-05
    days on market $165,000 Active 119 DOM
12. 2026-06-03
    days on market $165,000 Active 118 DOM
13. 2026-06-02
    days on market $165,000 Active 117 DOM
14. 2026-06-01
    days on market $165,000 Active 116 DOM
15. 2026-05-31
    days on market $165,000 Active 115 DOM
16. 2026-05-30
    days on market $165,000 Active 114 DOM
17. 2026-04-06
    price $165,000 711-char remark

    Show marketing remark (711 chars)

    * * INVESTOR SPECIAL!! * * Great INCOME PRODUCING 3-unit multiplex with CONSISTENT CASH flow & key updates already completed. TWO NEW FURNACES and a NEW WALL UNIT HEATER installed in January. One unit features 3 Bedrooms/1 Bath, generating $1200/month in rent. The other two units each offer 1 Bedroom/1Bath, generating $850/month each. Generously sized rooms throughout. Owner pays utilities. Utilities are partially separated on two gas, electric and water meters split by the two sides. The two units on the right, the 4221 Wood side, share a meter. A flat rubber roof installed a few yrs ago by prior owner. A strong opportunity for investors seeking STEADY CASH FLOW. Schedule your viewing today!

18. 2026-02-03
    listed $175,000 Active 711-char remark

    Show marketing remark (711 chars)

    * * INVESTOR SPECIAL!! * * Great INCOME PRODUCING 3-unit multiplex with CONSISTENT CASH flow & key updates already completed. TWO NEW FURNACES and a NEW WALL UNIT HEATER installed in January. One unit features 3 Bedrooms/1 Bath, generating $1200/month in rent. The other two units each offer 1 Bedroom/1Bath, generating $850/month each. Generously sized rooms throughout. Owner pays utilities. Utilities are partially separated on two gas, electric and water meters split by the two sides. The two units on the right, the 4221 Wood side, share a meter. A flat rubber roof installed a few yrs ago by prior owner. A strong opportunity for investors seeking STEADY CASH FLOW. Schedule your viewing today!

19. 2025-09-23
    price $180,000

ⓘ 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: $760 · $63/mo
• Projected year-2 tax: $974 · $81/mo
• Expected delta: +$213/yr (+$18/mo · 28.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥97°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,260
• − Mortgage interest: −$9,243
• − Property taxes: −$760
• − Insurance: −$6,350
• − Repairs & maintenance: −$3,701
• − Management: −$3,701
• − Depreciation: −$4,800
• Taxable income: $17,706
• Est. tax owed @ 24.0%: −$4,249
• After-tax cash flow: $14,802/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: Ohio County Schools
• NCES district ID: 5401050
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $41,572
• Composite: 34.88/100
• National rank: #5085
• State rank: #5 of 55 in WV

Livability — Wheeling

• Score: 69/100
• State rank: #74
• US rank: #8950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, WV
• County: Ohio County · 39,982 people
• City population: 39,982
• Metro: Wheeling, WV-OH
• Population (ZIP): 39,982
• Household income: $57,703
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1630.0

Population outlook (Ohio County) Hauer SSP2

• Today (2025): 40,604 people
• By 2030: 39,150 · -3.6%
• By 2040: 36,039 · -11.2%
• By 2050: 33,582 · -17.3%
• By 2075: 28,662 · -29.4%
• By 2100: 22,963 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ohio

• 2024 margin: Strong R (+26.0) · D 36.0% · R 62.0% · Other 2.0%
• 2008→2024 swing: -15.3pp toward R · 2008: -10.8pp · 2024: -26.0pp
• All cycles: 2024: R+26.0 2020: R+25.8 2016: R+31.6 2012: R+22.5 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.09%
• Current HPI: 223.4106
• Rent YoY: ▲ 3.03%
• Metro: Wheeling, WV-OH
• State GDP YoY: —
• F500 in state: 0

Price history

-8.3% since first listed

3 events — show timeline

• 2026-04-06 Price Changed $165,000 WBOR
• 2026-02-03 Listed $175,000 WBOR
• 2025-09-23 Price Changed $180,000 WBOR

Property tax history

+1.8%/yr

Latest (2025): $760 · +4.3% YoY. Source: county tax records.