1129 Mccolloch St · Wheeling, WV 26003

$60,000

3 bd · 3.0 ba · 3,072 sqft · Other public records · 3 Days on market

Built 1910 1,917 sqft 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
• 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

Listing remarks

Incredible investment opportunity in the heart of Wheeling! This spacious property at 1129 McColloch St boasts over 3,000 square feet of versatile living space, currently configured as a high-potential 2-unit income producer. Unit 1 features a comfortable 1-bedroom, 1-bathroom layout, while Unit 2 offers a generous 2-bedroom, 1-bathroom setup. Character rich with classic hardwood floors and durable finishes, the building includes forced air natural gas heating and public utilities. Tenant-paid electric, gas, and sewer utilities make this an exceptionally low-overhead addition to your rental portfolio. please allow 24 hr prior to showing

Key facts

• Public utilities
• 1,917 sq ft lot
• Built 1910

Tags

• INVESTMENT OPPORTUNITY
• VERSATILE LIVING SPACE
• HIGH-POTENTIAL INCOME PRODUCER
• CLASSIC HARDWOOD FLOORS
• FORCED AIR NATURAL GAS HEATING
• PUBLIC UTILITIES

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multi-level layout; 2 stories
• Construction: Vinyl siding
• Exterior features: Deck

Interior

• Kitchen: Cooktop; Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heating present
• Interior features: Cooktop; Dishwasher; Electric water heater
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 20.0% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $60,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.22% ✓
• Cap rate: 19.99%
• Cash-on-cash: 48.93%
• DSCR: 3.18
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 46.5%
• Equity multiple: 3.02×
• Total profit: $33,935
• Equity at exit: $8,946

10-year hold

• IRR: 52.3%
• Equity multiple: 6.11×
• Total profit: $85,851
• Equity at exit: $5,188

Cash invested: $16,800 (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: 223
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$26 /mo · $309/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $685

Break-even live

Break-even rent $463

Max offer price $60,000

Occupancy floor 43%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $60,000 Active 3 DOM
2. 2026-06-18
   days on market $60,000 Active 2 DOM
3. 2026-06-17
   remarks 644-char remark
4. 2026-06-17
   listed $60,000 Active 1 DOM

ⓘ 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: $309 · $26/mo
• Projected year-2 tax: $354 · $30/mo
• Expected delta: +$45/yr (+$4/mo · 14.6%)

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

Taxation est. · year 1

• Rental income: $15,955
• − Mortgage interest: −$3,361
• − Property taxes: −$309
• − Insurance: −$300
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$1,745
• Taxable income: $7,687
• Est. tax owed @ 24.0%: −$1,845
• After-tax cash flow: $6,375/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

• 2026-06-16 Listed $60,000 WBOR

Property tax history

+3.1%/yr

Latest (2018): $309 · +1.3% YoY. Source: county tax records.