108 S Penn St · Wheeling, WV 26003

$85,000

3 bd · 1.5 ba · 2,273 sqft · SingleFamily public records · 185 Days on market

Built 1900 3,790 sqft lot $37/sqft · 26% above area Est $67k · 26% over

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Why this score? — see what drove the C+ 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 +9.8/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income-producing multi-family property with tenants already in place. This property offers a practical layout and steady rental history, making it a strong option for buyers seeking immediate cash flow. Located close to shopping, dining, and commuter routes. A great opportunity to build long-term value while collecting rent from day one.

Key facts

• Practical layout
• Close to dining
• Close to shopping

Tags

• MULTI-FAMILY PROPERTY
• PRACTICAL LAYOUT
• STEADY RENTAL HISTORY
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO COMMUTER ROUTES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $21 ($249/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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.
• Zoned schools: Madison Elementary School (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 277 students, 0% FRL); Triadelphia Middle School (math 34% / reading 56%, grade D, #9 of 109 statewide, top 7%, 390 students, 0% FRL); Wheeling Park High School (math 27% / reading 57%, grade F, #14 of 110 statewide, top 16%, 1,490 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 228 active listings in the ZIP; 2 units permitted in Ohio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.48% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.26%
• DSCR: 2.08
• GRM: 5.6

CMA / ARV

• ARV (median comp): $67,451
• List price: $85,000
• Delta: 26.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 South Front St	0.08mi	4/2.0 (+1)	2,363 (+4%)	11mo	$8,000	$3	74
87 Ohio St	0.16mi	4/2.0 (+1)	2,360 (+4%)	12mo	$34,500	$15	69
27 Virginia St	0.06mi	4/2.0 (+1)	2,467 (+8%)	18mo	$30,000	$12	61
218 N Front St	0.31mi	3/2.0	2,213 (-3%)	22mo	$125,000	$56	61
322 North Wabash St	0.49mi	4/2.0 (+1)	1,990 (-12%)	1mo	$17,500	$9	49
451 N Wabash St	0.63mi	4/2.0 (+1)	2,068 (-9%)	1mo	$65,000	$31	48
516 N Wabash St	0.67mi	4/2.0 (+1)	2,150 (-5%)	9mo	$145,000	$67	45
826 Walters Ave	0.73mi	3/2.5	2,337 (+3%)	18mo	$118,000	$50	42
44 Kentucky St	0.39mi	4/3.0 (+1)	2,575 (+13%)	12mo	$160,000	$62	39
443 North Front St	0.59mi	4/2.0 (+1)	2,024 (-11%)	12mo	$75,000	$37	37
300 Dekalb St	0.70mi	3/2.0	2,025 (-11%)	18mo	$147,500	$73	32
67 15th St	0.75mi	4/2.0 (+1)	2,500 (+10%)	20mo	$40,000	$16	25

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-12,158
• Equity at exit: $12,674

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-7,684
• Equity at exit: $7,349

Cash invested: $23,800 (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: 228
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$35 /mo · $417/yr
• Insurance: −$35
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $21

Break-even live

Break-even rent $1,236

Max offer price $85,000

Occupancy floor 93%

Sensitivity live

Price	-10% $69	-5% $45	+0% $21	+5% $-3	+10% $-27
Rent	-10% $-79	-5% $-29	+0% $21	+5% $71	+10% $120
Rate	-1.0pp $64	-0.5pp $42	base $21	+0.5pp $-1	+1.0pp $-24

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $85,000 Active 185 DOM
2. 2026-06-19
   days on market $85,000 Active 183 DOM
3. 2026-06-18
   days on market $85,000 Active 182 DOM
4. 2026-06-17
   days on market $85,000 Active 181 DOM
5. 2026-06-16
   days on market $85,000 Active 180 DOM
6. 2026-06-15
   days on market $85,000 Active 179 DOM
7. 2026-06-14
   days on market $85,000 Active 177 DOM
8. 2026-06-12
   days on market $85,000 Active 176 DOM
9. 2026-06-09
   days on market $85,000 Active 173 DOM
10. 2026-06-08
    days on market $85,000 Active 172 DOM
11. 2026-06-07
    days on market $85,000 Active 171 DOM
12. 2026-06-05
    days on market $85,000 Active 168 DOM
13. 2026-06-03
    days on market $85,000 Active 167 DOM
14. 2026-06-02
    days on market $85,000 Active 166 DOM
15. 2026-06-01
    days on market $85,000 Active 165 DOM
16. 2026-05-31
    days on market $85,000 Active 164 DOM
17. 2026-05-30
    days on market $85,000 Active 163 DOM
18. 2025-12-16
    listed $85,000 Active 339-char remark

    Show marketing remark (339 chars)

    Income-producing multi-family property with tenants already in place. This property offers a practical layout and steady rental history, making it a strong option for buyers seeking immediate cash flow. Located close to shopping, dining, and commuter routes. A great opportunity to build long-term value while collecting rent from day one.

ⓘ 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: $417 · $35/mo
• Projected year-2 tax: $502 · $42/mo
• Expected delta: +$85/yr (+$7/mo · 20.3%)

ⓘ 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 ≥98°F today · 20 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: $15,145
• − Mortgage interest: −$4,761
• − Property taxes: −$417
• − Insurance: −$5,950
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$2,473
• Taxable loss: −$879
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $460/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

1 event — show timeline

• 2025-12-16 Listed $85,000 WBOR

Property tax history

+1.8%/yr

Latest (2025): $417 · +3.3% YoY. Source: county tax records.