59 E 4th St · Wheeling, WV 26003

$124,000

2 bd · 2.0 ba · 1,576 sqft · MultiFamily public records · 32 Days on market

Built 1911 3,759 sqft lot $79/sqft · 135% above area

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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: 2 units. confirmed

Listing remarks MLS

Welcome to this charming Wheeling home featuring a classic exterior and a warm, inviting interior. The property blends character with modern touches, offering comfortable living space perfect for families or investors alike. Enjoy an open main level, spacious bedrooms, and a convenient location close to restaurants, shops, and local parks. Whether you're looking for a cozy residence or a solid addition to your portfolio, 59 E 4th St delivers comfort, convenience, and timeless appeal right in the heart of Wheeling.

Key facts

• Up down duplex
• Fully occupied
• Turnkey opportunity

Tags

• UP DOWN DUPLEX
• FULLY OCCUPIED
• LOCATION CLOSE TO DOWNTOWN
• TURNKEY OPPORTUNITY

Property features AI

Finance

• Other: Annual tax: $399.88
• Financial info: One unit listed with actual rent of $950

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family, up-and-down duplex); 2 stories
• Exterior features: Residential zoning; Subdivision: MCLURE SUB; Directions: From Main Street in Wheeling, turn onto 4th Street heading east; continue ~2 blocks. Property is on the left at 59 E 4th Street.

Interior

• Kitchen: Electric water heater
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $124k.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive. Per door: $374/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $120k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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).
• This rent runs 39% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $124k implies a 335% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,280 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.51% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.84%
• DSCR: 2.15
• GRM: 5.5

CMA / ARV

• ARV (median comp): $52,880
• List price: $124,000
• Delta: 134.49%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.79×
• Total profit: $27,535
• Equity at exit: $18,489

10-year hold

• IRR: 27.8%
• Equity multiple: 3.46×
• Total profit: $85,337
• Equity at exit: $10,721

Cash invested: $34,720 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$33 /mo · $399/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $748

Break-even live

Break-even rent $931

Max offer price $124,000

Occupancy floor 55%

Sensitivity live

Price	-10% $818	-5% $783	+0% $748	+5% $713	+10% $677
Rent	-10% $599	-5% $674	+0% $748	+5% $822	+10% $896
Rate	-1.0pp $810	-0.5pp $779	base $748	+0.5pp $716	+1.0pp $683

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,876
Total (2 units)			$1,877

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-16
   status $124,000 Pending 32 DOM
2. 2026-06-15
   days on market $124,000 Active 32 DOM
3. 2026-06-14
   days on market $124,000 Active 30 DOM
4. 2026-06-12
   days on market $124,000 Active 29 DOM
5. 2026-06-09
   days on market $124,000 Active 26 DOM
6. 2026-06-08
   days on market $124,000 Active 25 DOM
7. 2026-06-07
   days on market $124,000 Active 24 DOM
8. 2026-06-05
   days on market $124,000 Active 21 DOM
9. 2026-06-03
   days on market $124,000 Active 20 DOM
10. 2026-06-02
    days on market $124,000 Active 19 DOM
11. 2026-06-01
    days on market $124,000 Active 18 DOM
12. 2026-05-31
    days on market $124,000 Active 17 DOM
13. 2026-05-30
    days on market $124,000 Active 16 DOM
14. 2026-05-14
    listed $134,000 Active 346-char remark
15. 2025-10-16
    soldstatus $28,500 Closed 519-char remark

    Show marketing remark (519 chars)

    Welcome to this charming Wheeling home featuring a classic exterior and a warm, inviting interior. The property blends character with modern touches, offering comfortable living space perfect for families or investors alike. Enjoy an open main level, spacious bedrooms, and a convenient location close to restaurants, shops, and local parks. Whether you're looking for a cozy residence or a solid addition to your portfolio, 59 E 4th St delivers comfort, convenience, and timeless appeal right in the heart of Wheeling.

16. 2025-10-13
    status Pending 519-char remark

    Show marketing remark (519 chars)

    Welcome to this charming Wheeling home featuring a classic exterior and a warm, inviting interior. The property blends character with modern touches, offering comfortable living space perfect for families or investors alike. Enjoy an open main level, spacious bedrooms, and a convenient location close to restaurants, shops, and local parks. Whether you're looking for a cozy residence or a solid addition to your portfolio, 59 E 4th St delivers comfort, convenience, and timeless appeal right in the heart of Wheeling.

17. 2025-10-06
    price $30,000
18. 2025-10-02
    status Pending
19. 2025-09-30
    listed $30,000 Active 519-char remark

    Show marketing remark (519 chars)

    Welcome to this charming Wheeling home featuring a classic exterior and a warm, inviting interior. The property blends character with modern touches, offering comfortable living space perfect for families or investors alike. Enjoy an open main level, spacious bedrooms, and a convenient location close to restaurants, shops, and local parks. Whether you're looking for a cozy residence or a solid addition to your portfolio, 59 E 4th St delivers comfort, convenience, and timeless appeal right in the heart of Wheeling.

20. 2025-09-30
    listed $300,000 Active

    Show marketing remark (519 chars)

    Welcome to this charming Wheeling home featuring a classic exterior and a warm, inviting interior. The property blends character with modern touches, offering comfortable living space perfect for families or investors alike. Enjoy an open main level, spacious bedrooms, and a convenient location close to restaurants, shops, and local parks. Whether you're looking for a cozy residence or a solid addition to your portfolio, 59 E 4th St delivers comfort, convenience, and timeless appeal right in the heart of Wheeling.

ⓘ 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: $399 · $33/mo
• Projected year-2 tax: $732 · $61/mo
• Expected delta: +$333/yr (+$28/mo · 83.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°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: $22,524
• − Mortgage interest: −$6,946
• − Property taxes: −$399
• − Insurance: −$620
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$3,607
• Taxable income: $7,348
• Est. tax owed @ 24.0%: −$1,764
• After-tax cash flow: $7,208/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

+313.3% since first listed

9 events — show timeline

• 2026-06-15 Pending — WBOR
• 2026-05-28 Price Changed $124,000 WBOR
• 2026-05-14 Listed $134,000 WBOR
• 2025-10-16 Sold (MLS) $28,500 WBOR
• 2025-10-13 Pending — WBOR
• 2025-10-06 Price Changed $30,000 WBOR
• 2025-10-02 Pending — WBOR
• 2025-09-30 Listed $300,000 WBOR
• 2025-09-30 Listed $30,000 WBOR

Property tax history

+2.5%/yr

Latest (2025): $399 · +4.9% YoY. Source: county tax records.