230 Locust Ave · Fairmont, WV 26554

$225,000

4 bd · 4.0 ba · 2,442 sqft · MultiFamily public records · 268 Days on market

Built 1900

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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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.3/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• 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

This is a unique opportunity to rent the 3 apts in the main home and live rent free in the garage apt which is intentionally vacant. The seller states that with an acceptable offer they may be willing to finance all or part of the required buyer's down payment! Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and gorgeous bathroom. At full occupancy the gross rents are 33k+. The utilities are combined on the main home. Requires 24 hour notice to show. Lockbox is located on the rear home.

Key facts

• Recent renovations
• New flooring
• Separate meters

Tags

• RECENT RENOVATIONS
• NEW FLOORING
• SEPARATE METERS

Property features AI

Finance

• Other: Property is listed as residential income (multi-family)

Exterior

• Parking: On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; 2-story building; 2-4 family configuration; Neighborhood mixed-use zoning
• Construction: Block construction; Frame construction; Wood siding; Shingle roof
• Exterior features: Deck; Porch; Level lot; Storage structure

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Bedrooms: Two 2-bedroom units; Two 1-bedroom units
• Flooring: Laminate flooring; Vinyl flooring; Wood flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Hot water heating; Natural gas heating; Radiant heating
• Interior features: Finished basement; Smoke detectors installed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive. Per door: $66/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (6.7% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.3% in Fairmont — 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 70/100 on livability (#64 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Marion County Schools (town): math 30% / reading 43% proficiency, ranked #11 of 55 in WV (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jayenne Elementary School (math 47% / reading 47%, grade D-, #63 of 377 statewide, top 18%, 300 students, 0% FRL); West Fairmont Middle School (math 27% / reading 41%, grade F, #36 of 109 statewide, top 35%, 629 students, 0% FRL); East Fairmont High School (math 27% / reading 52%, grade F, #21 of 110 statewide, top 26%, 689 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: 151 active listings in the ZIP; 3 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $178k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.93% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $56,166
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 Walnut Ave	0.36mi	5/3.0 (+1)	2,186 (-10%)	19mo	$49,500	$23	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.56×
• Total profit: $-28,034
• Equity at exit: $33,548

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-13,522
• Equity at exit: $19,454

Cash invested: $63,000 (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 26554

• Home prices YoY: -11.3%
• Active inventory: 151
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$253 /mo · $3,039/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $132

Break-even live

Break-even rent $1,933

Max offer price $225,000

Occupancy floor 89%

Sensitivity live

Price	-10% $259	-5% $196	+0% $132	+5% $68	+10% $5
Rent	-10% $-34	-5% $49	+0% $132	+5% $215	+10% $298
Rate	-1.0pp $245	-0.5pp $189	base $132	+0.5pp $74	+1.0pp $14

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,100
Total (2 units)			$2,100

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $225,000 Active 268 DOM
2. 2026-06-18
   days on market $225,000 Active 267 DOM
3. 2026-06-17
   days on market $225,000 Active 266 DOM
4. 2026-06-16
   days on market $225,000 Active 265 DOM
5. 2026-06-15
   days on market $225,000 Active 264 DOM
6. 2026-06-14
   days on market $225,000 Active 262 DOM
7. 2026-06-13
   days on market $225,000 Active 261 DOM
8. 2026-06-10
   days on market $225,000 Active 259 DOM
9. 2026-06-09
   days on market $225,000 Active 258 DOM
10. 2026-06-08
    days on market $225,000 Active 257 DOM
11. 2026-06-07
    days on market $225,000 Active 256 DOM
12. 2026-06-02
    days on market $225,000 Active 251 DOM
13. 2026-06-01
    days on market $225,000 Active 250 DOM
14. 2026-05-31
    days on market $225,000 Active 249 DOM
15. 2026-05-30
    days on market $225,000 Active 248 DOM
16. 2026-03-30
    status Active
17. 2025-08-18
    listed $225,000 Active
18. 2024-11-18
    soldstatus $178,000
19. 2024-11-13
    soldstatus $178,000 Closed 543-char remark

    Show marketing remark (543 chars)

    This is a unique opportunity to rent the 3 apts in the main home and live rent free in the garage apt which is intentionally vacant. The seller states that with an acceptable offer they may be willing to finance all or part of the required buyer's down payment! Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and gorgeous bathroom. At full occupancy the gross rents are 33k+. The utilities are combined on the main home. Requires 24 hour notice to show. Lockbox is located on the rear home.

20. 2024-08-08
    historical Active Under Contract 543-char remark

    Show marketing remark (543 chars)

    This is a unique opportunity to rent the 3 apts in the main home and live rent free in the garage apt which is intentionally vacant. The seller states that with an acceptable offer they may be willing to finance all or part of the required buyer's down payment! Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and gorgeous bathroom. At full occupancy the gross rents are 33k+. The utilities are combined on the main home. Requires 24 hour notice to show. Lockbox is located on the rear home.

21. 2024-07-12
    price $199,000 543-char remark

    Show marketing remark (543 chars)

    This is a unique opportunity to rent the 3 apts in the main home and live rent free in the garage apt which is intentionally vacant. The seller states that with an acceptable offer they may be willing to finance all or part of the required buyer's down payment! Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and gorgeous bathroom. At full occupancy the gross rents are 33k+. The utilities are combined on the main home. Requires 24 hour notice to show. Lockbox is located on the rear home.

22. 2024-07-08
    listed $199,900 Active 543-char remark

    Show marketing remark (543 chars)

    This is a unique opportunity to rent the 3 apts in the main home and live rent free in the garage apt which is intentionally vacant. The seller states that with an acceptable offer they may be willing to finance all or part of the required buyer's down payment! Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and gorgeous bathroom. At full occupancy the gross rents are 33k+. The utilities are combined on the main home. Requires 24 hour notice to show. Lockbox is located on the rear home.

23. 2019-08-15
    soldstatus $141,400 504-char remark

    Show marketing remark (504 chars)

    This property is known as the "PAINTED LADY" and sits across from some of the finest homes in Fairmont. A unique opportunity for a great rental or turn it back into a single family home. 3 apts in the main home and 1 in the garage apt. Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and and gorgeous bathroom. At full occupancy the gross rents are around $29k. The seller currently pays utilities on the 3 apts but the garage pays their own.

24. 2019-06-29
    listed $139,900 504-char remark

    Show marketing remark (504 chars)

    This property is known as the "PAINTED LADY" and sits across from some of the finest homes in Fairmont. A unique opportunity for a great rental or turn it back into a single family home. 3 apts in the main home and 1 in the garage apt. Take a look through the pics and you'll be surprised. The main floor has 2 huge BR's both with FP's and and gorgeous bathroom. At full occupancy the gross rents are around $29k. The seller currently pays utilities on the 3 apts but the garage pays their own.

ⓘ 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: $3,039 · $253/mo
• Projected year-2 tax: $3,039 · $253/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 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: $25,200
• − Mortgage interest: −$12,603
• − Property taxes: −$3,039
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$6,545
• Taxable loss: −$2,145
• Est. tax savings @ 24.0%: +$515
• After-tax cash flow: $2,100/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: Marion County Schools
• NCES district ID: 5400720
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 43% ▼ -8.00%
• Median HH income: $42,195
• Composite: 30.8/100
• National rank: #6145
• State rank: #11 of 55 in WV

Livability — Fairmont

• Score: 70/100
• State rank: #64
• US rank: #8054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, WV
• Population (ZIP): 42,116

Population outlook (Marion County) Hauer SSP2

• Today (2025): 56,923 people
• By 2030: 56,850 · -0.1%
• By 2040: 56,469 · -0.8%
• By 2050: 56,027 · -1.6%
• By 2075: 55,509 · -2.5%
• By 2100: 51,082 · -10.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+31.2) · D 33.2% · R 64.5% · Other 2.3%
• 2008→2024 swing: -31.7pp toward R · 2008: 0.5pp · 2024: -31.2pp
• All cycles: 2024: R+31.2 2020: R+28.7 2016: R+33.5 2012: R+14.4 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.86%
• Current HPI: 240.9967
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+60.8% since first listed

9 events — show timeline

• 2026-03-30 Relisted — NCWVREIN
• 2025-08-18 Listed $225,000 NCWVREIN
• 2024-11-18 Sold (Public Records) $178,000 Public Records
• 2024-11-13 Sold (MLS) $178,000 NCWVREIN
• 2024-08-08 Contingent — NCWVREIN
• 2024-07-12 Price Changed $199,000 NCWVREIN
• 2024-07-08 Listed $199,900 NCWVREIN
• 2019-08-15 Sold (MLS) $141,400 NCWVREIN
• 2019-06-29 Listed $139,900 NCWVREIN

Property tax history

+1.7%/yr

Latest (2025): $3,039 · +4.5% YoY. Source: county tax records.