1406 Lee St E · Charleston, WV 25301

$72,000

4 bd · 1.0 ba · 2,235 sqft · SingleFamily public records · 58 Days on market

Built 1900 1,742 sqft lot ↓ 33% 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
• Appreciation +6.1/10.0
• Livability +4.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

2 story brick home in downtown Charleston. Large front porch, original woodwork throughout. 4 bedrooms, finished attic for more living space/ possible 5th bedroom. Full basement. All pre-1978 properties require LBP. Seller makes no warranties as to property condition. Seller may contribute up to 3% of buyer’s closing cost. Buyer is responsible for dewinterization/rewinterization and associated expenses.

Key facts

• Finished attic
• Front porch
• Full basement

Tags

• FRONT PORCH
• ORIGINAL WOODWORK
• FINISHED ATTIC
• FULL BASEMENT

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two-story
• Construction: Brick and plaster construction
• Exterior features: Front porch; Privacy fencing; Composition/shingle roof

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Total of 8 rooms (bedrooms and living spaces combined)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Insulated windows; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 3.8% in Charleston — 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 85/100 on livability (#3 in WV, #524 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Kanawha County Schools (suburban): math 29% / reading 40% proficiency, ranked #17 of 55 in WV (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piedmont Year-Round Education (math 17% / reading 22%, grade F, #350 of 377 statewide, top 95%, 258 students, 0% FRL); Horace Mann Middle School (math 35% / reading 42%, grade F, #23 of 109 statewide, top 21%, 399 students, 0% FRL); Capital High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 1,086 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 15 active listings in the ZIP; lower-income renter base — watch delinquency; 103 units permitted in Kanawha County in 2024 (0 in 5+ unit buildings).
• At $1,402/mo this rent would consume 66% of the median local household income ($25k/yr) (locally 107% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($498 loan paydown + $2k appreciation (2.2% local appreciation)).
• Kanawha County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,840 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. 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.
8. 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.
9. 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: 1.95% ✓
• Cap rate: 16.10%
• Cash-on-cash: 35.02%
• DSCR: 2.56
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $216,795
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1313 Lee St E #112	0.13mi	3/4.0 (-1)	2,249 (+1%)	6mo	$275,000	$122	71
1525 Lee St E	0.21mi	3/2.0 (-1)	2,190 (-2%)	13mo	$173,400	$79	67
1565 Jackson St	0.37mi	3/3.0 (-1)	2,278 (+2%)	7mo	$221,450	$97	61
1578 Jackson St	0.44mi	4/1.5	2,052 (-8%)	5mo	$155,000	$76	60
424 Porter Rd	0.57mi	3/2.0 (-1)	2,273 (+2%)	7mo	$215,000	$95	55
1572 Dixie St	0.44mi	3/2.5 (-1)	2,147 (-4%)	12mo	$259,000	$121	52
442 Porter Rd	0.63mi	4/2.0	2,112 (-6%)	10mo	$195,500	$93	49
5 Estill Dr	0.68mi	3/2.0 (-1)	2,060 (-8%)	4mo	$76,880	$37	43
408 Rock Holly Rd	0.62mi	3/2.5 (-1)	2,099 (-6%)	17mo	$285,000	$136	36
501 Woodcliff Rd	0.62mi	3/2.5 (-1)	2,352 (+5%)	21mo	$425,000	$181	34
1 Estill Dr	0.68mi	3/3.5 (-1)	2,000 (-10%)	14mo	$275,000	$138	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.1%
• Equity multiple: 2.96×
• Total profit: $39,533
• Equity at exit: $29,035

10-year hold

• IRR: 37.1%
• Equity multiple: 5.83×
• Total profit: $97,329
• Equity at exit: $42,305

Cash invested: $20,160 (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 25301

• Home prices YoY: 0.8%
• Active inventory: 15
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$112 /mo · $1,338/yr
• Insurance: −$30
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $533

Break-even live

Break-even rent $727

Max offer price $72,000

Occupancy floor 57%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $72,000 Active 58 DOM
2. 2026-06-18
   days on market $72,000 Active 57 DOM
3. 2026-06-17
   price $72,000 Active 56 DOM
4. 2026-06-17
   days on market $80,000 Active 56 DOM
5. 2026-06-16
   days on market $80,000 Active 55 DOM
6. 2026-06-15
   days on market $80,000 Active 54 DOM
7. 2026-06-14
   days on market $80,000 Active 52 DOM
8. 2026-06-12
   days on market $80,000 Active 51 DOM
9. 2026-06-09
   days on market $80,000 Active 48 DOM
10. 2026-06-08
    days on market $80,000 Active 47 DOM
11. 2026-06-07
    days on market $80,000 Active 46 DOM
12. 2026-06-05
    days on market $80,000 Active 43 DOM
13. 2026-06-03
    days on market $80,000 Active 42 DOM
14. 2026-06-02
    days on market $80,000 Active 41 DOM
15. 2026-06-01
    days on market $80,000 Active 40 DOM
16. 2026-05-31
    days on market $80,000 Active 39 DOM
17. 2026-05-30
    days on market $80,000 Active 38 DOM
18. 2026-04-22
    listed $80,000 Active
19. 2025-03-28
    listed $129,000 Active
20. 2022-11-16
    soldstatus $95,000
21. 2022-11-09
    soldstatus $92,000
22. 2022-06-27
    listed $110,000
23. 2016-02-17
    listed $119,000

ⓘ 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: $1,338 · $112/mo
• Projected year-2 tax: $1,338 · $112/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 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,821
• − Mortgage interest: −$4,033
• − Property taxes: −$1,338
• − Insurance: −$1,026
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$2,095
• Taxable income: $5,637
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $5,040/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: Kanawha County Schools
• NCES district ID: 5400600
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $44,329
• Composite: 29.35/100
• National rank: #6540
• State rank: #17 of 55 in WV

Livability — Charleston

• Score: 85/100
• State rank: #3
• US rank: #524

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, WV
• County: Kanawha County · 33,502 people
• City population: 33,502
• Metro: Charleston, WV
• Population (ZIP): 2,498
• Household income: $25,417
• Rent vs Own: 85.9% rent · 14.1% own
• Severe rent burden: 107.0

Population outlook (Kanawha County) Hauer SSP2

• Today (2025): 178,946 people
• By 2030: 172,906 · -3.4%
• By 2040: 159,874 · -10.7%
• By 2050: 148,148 · -17.2%
• By 2075: 123,257 · -31.1%
• By 2100: 96,454 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 24% Two or more races 10% Hispanic / Latino 2%
• Common ancestry: Italian 3% Serbian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Kanawha

• 2024 margin: R (+17.4) · D 40.2% · R 57.6% · Other 2.2%
• 2008→2024 swing: -17.0pp toward R · 2008: -0.4pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.7 2016: R+20.6 2012: R+11.9 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.16%
• Current HPI: 265.9394
• Rent YoY: —
• Metro: Charleston, WV
• State GDP YoY: —
• F500 in state: 0

Price history

-32.8% since first listed

6 events — show timeline

• 2026-04-22 Listed $80,000 KVBOR
• 2025-03-28 Listed $129,000 KVBOR
• 2022-11-16 Sold (Public Records) $95,000 Public Records
• 2022-11-09 Sold (MLS) $92,000 KVBOR
• 2022-06-27 Listed $110,000 KVBOR
• 2016-02-17 Listed $119,000 KVBOR

Property tax history

-3.6%/yr

Latest (2025): $1,338 · +0.0% YoY. Source: county tax records.