6 Vernon Ave · Wheeling, WV 26003

$165,000

4 bd · 2.5 ba · 1,482 sqft · SingleFamily public records · 289 Days on market

Built 1928 4,792 sqft lot $111/sqft · 14% below area Est $191k · 14% under

---

Why this score? — see what drove the D+ 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 +14.1/30.0
• ARV discount +13.6/15.0
• DSCR +4.3/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $26 ($307/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (18.5% below list).
• Recommended offer: $134k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Elm Grove Elementary School (math 42% / reading 42%, grade F, #87 of 377 statewide, top 28%, 330 students, 0% FRL); Bridge Street Middle School (math 19% / reading 47%, grade F, #42 of 109 statewide, top 38%, 278 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 $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.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $132k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,450 (18.5% below list)

Questions for the listing agent

1. It's been on market 289 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.2

CMA / ARV

• ARV (median comp): $190,972
• List price: $165,000
• Delta: -13.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
153 Idabelle Ave	0.35mi	4/2.5	1,524 (+3%)	8mo	$170,000	$112	73
2235 Marshall Ave	0.36mi	3/2.0 (-1)	1,512 (+2%)	5mo	$140,000	$93	68
146 Columbia Ave	0.22mi	3/1.5 (-1)	1,421 (-4%)	10mo	$150,000	$106	65
163 Paxton Ave	0.11mi	3/1.5 (-1)	1,316 (-11%)	5mo	$170,000	$129	63
417 Kruger St	0.32mi	3/1.0 (-1)	1,400 (-6%)	3mo	$130,000	$93	62
16 Courtland Ave	0.21mi	3/2.0 (-1)	1,337 (-10%)	8mo	$245,000	$183	61
111 Paxton Ave	0.09mi	4/1.0	1,344 (-9%)	18mo	$200,000	$149	59
34 Sheller Ln	0.49mi	3/3.0 (-1)	1,440 (-3%)	8mo	$290,000	$201	58
147 Center Ave	0.25mi	3/2.0 (-1)	1,320 (-11%)	8mo	$180,000	$136	57
142 Courtland Ave	0.49mi	3/1.5 (-1)	1,352 (-9%)	2mo	$253,000	$187	52
411 Jones St	0.33mi	3/1.5 (-1)	1,329 (-10%)	10mo	$87,500	$66	50
3 Woodcrest Dr	0.71mi	3/2.5 (-1)	1,310 (-12%)	7mo	$246,087	$188	37

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-25,111
• Equity at exit: $24,602

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-19,779
• 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: 228
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,344 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$103 /mo · $1,231/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $26

Break-even live

Break-even rent $1,312

Max offer price $165,000

Occupancy floor 93%

Sensitivity live

Price	-10% $119	-5% $72	+0% $26	+5% $-21	+10% $-68
Rent	-10% $-81	-5% $-28	+0% $26	+5% $79	+10% $132
Rate	-1.0pp $109	-0.5pp $68	base $26	+0.5pp $-17	+1.0pp $-61

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 15 events

1. 2026-06-09
   days on market $165,000 Active 289 DOM
2. 2026-06-08
   days on market $165,000 Active 288 DOM
3. 2026-06-07
   days on market $165,000 Active 287 DOM
4. 2026-06-05
   status $165,000 Active 284 DOM
5. 2026-05-12
   price $165,000 287-char remark

   Show marketing remark (287 chars)

   This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

6. 2026-02-16
   status Active 287-char remark

   Show marketing remark (287 chars)

   This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

7. 2026-01-19
   status Pending 287-char remark

   Show marketing remark (287 chars)

   This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

8. 2026-01-09
   status Active 287-char remark

   Show marketing remark (287 chars)

   This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

9. 2026-01-09
   historical 287-char remark

   Show marketing remark (287 chars)

   This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

10. 2025-08-13
    price $170,000 287-char remark

    Show marketing remark (287 chars)

    This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

11. 2025-07-08
    listed $180,000 Active 287-char remark

    Show marketing remark (287 chars)

    This 4-bedroom, 2-bath home in the heart of Elm Grove offers the space you need and the potential to make it your own. Featuring a fenced-in yard perfect for pets or play, a nice garage, and plenty of charm. A great opportunity for buyers looking to add value in a sought-after location!

12. 2020-03-04
    soldstatus $132,000
13. 2020-02-28
    soldstatus $132,000 330-char remark

    Show marketing remark (330 chars)

    Move in ready 4 bedroom(master on 1st floor), 2 full bath located on a quiet street in Elm Grove. The rec room in the lower level features new luxury vinyl floors. There is ample storage in the unfinished section of the basement. The fenced in back yard leads to a 1 1/2 car garage. This home is waiting for your family! Must see!

14. 2020-01-13
    listed $135,000 330-char remark

    Show marketing remark (330 chars)

    Move in ready 4 bedroom(master on 1st floor), 2 full bath located on a quiet street in Elm Grove. The rec room in the lower level features new luxury vinyl floors. There is ample storage in the unfinished section of the basement. The fenced in back yard leads to a 1 1/2 car garage. This home is waiting for your family! Must see!

15. 1967-09-12
    soldstatus $13,800

ⓘ 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: $1,231 · $103/mo
• Projected year-2 tax: $1,231 · $103/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) · 39% 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: $16,134
• − Mortgage interest: −$9,243
• − Property taxes: −$1,231
• − Insurance: −$825
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$4,800
• Taxable loss: −$2,546
• Est. tax savings @ 24.0%: +$611
• After-tax cash flow: $918/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

+1095.7% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $165,000 WBOR
• 2026-02-16 Relisted — WBOR
• 2026-01-19 Pending — WBOR
• 2026-01-09 Relisted — WBOR
• 2026-01-09 Delisted — WBOR
• 2025-08-13 Price Changed $170,000 WBOR
• 2025-07-08 Listed $180,000 WBOR
• 2020-03-04 Sold (Public Records) $132,000 Public Records
• 2020-02-28 Sold (MLS) $132,000 WBOR
• 2020-01-13 Listed $135,000 WBOR
• 1967-09-12 Sold (Public Records) $13,800 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,231 · +4.5% YoY. Source: county tax records.