Huntington has something many cities lack: open infill lots inside established neighborhoods, many left where older houses were removed. For builders, that means a chance to put new rentals on streets with existing tenant demand.
In short: LendingStreet finances ground-up construction of 1-8 unit investor projects in Huntington and nearby Cabell and Wayne county towns, including spec homes, build-to-rent houses, infill duplexes and fourplexes and small 5-8 unit buildings. Loans are sized on loan-to-cost, terms are set per project and funds are released through a draw schedule after inspections. Plans, permits, a detailed budget and builder experience are required.
Many Huntington neighborhoods have vacant lots between older homes. Where zoning allows, these lots can support new single-family rentals, duplexes or small multi-unit buildings close to Marshall, the hospitals and downtown. New units compete well against older housing because tenants get modern systems, efficient heating and cooling and fewer maintenance calls.
Check the City of Huntington zoning map and setbacks before you buy a lot. Lot width, parking requirements and allowed uses vary by district.
Infill buyers should also check utility capacity. Older streets may have aging water and sewer lines, and connecting a new duplex can involve tap fees or line upgrades. Ask the utility for a letter early so those costs are in your budget.
Barboursville, Ona and Milton along Interstate 64 have land for new subdivisions and build-to-rent homes. Families who work in Huntington or Charleston rent there for schools and newer housing. In Wayne County, Lavalette and the areas south of Kenova and Ceredo also see some new building.
Build-to-rent in these areas tends to favor three-bedroom homes with garages and yards, the type of house families cannot easily find among Huntington's older rentals. Check rent comps from other newer homes before you settle on a floor plan.
Ground-up loans are sized on loan-to-cost, meaning the share of land, hard costs and soft costs the loan covers. The percentage is set per project based on your plans, budget, site and track record. Your equity goes in first, and the loan funds the rest through draws.
We also check the finished value and, for a rental, the expected rent, so the project supports a refinance or sale at the end.
Lenders compare your budget with what similar homes cost to build in the area. A budget well below local norms raises questions; a well-supported one with bids from your builder and subcontractors makes approval easier.
Builders with completed projects in the tri-state area should list them with addresses and photos.
This example is illustrative and not a quote. A builder buys an infill lot near campus for $25,000 and plans a new duplex. Hard costs are $330,000 and soft costs, including plans, permits, engineering and interest reserve, are $35,000, for a total of $390,000.
If this project were set at 85% of cost, the loan would be $331,500 and the builder would put in $58,500. After completion, the two units rent for $3,100 combined and the duplex appraises at $445,000. A 75% LTV DSCR refinance of $333,750 would carry a payment of about $2,784 including taxes and insurance, for a DSCR of about 1.11x.
In this example the DSCR clears 1.0x with some room. That margin matters for new construction, because the takeout loan is based on actual rent and appraised value at completion, not on the budget.
| Cost line | Amount |
|---|---|
| Lot | $25,000 |
| Hard costs | $330,000 |
| Soft costs | $35,000 |
| Total cost | $390,000 |
| Loan if set at 85% of cost | $331,500 |
| Builder equity | $58,500 |
Parts of Huntington and the surrounding area lie in mapped floodplains near the Ohio and Guyandotte rivers and local creeks. Building in a floodplain may require elevation, special permits and flood insurance. Check the FEMA map and local floodplain rules before you finalize plans.
Projects without plans or permits, or a borrower with no build track record and no experienced general contractor, usually do not qualify. Have plans, a building permit or a clear path to one, a detailed budget and your builder's experience ready. West Virginia requires licensed contractors for most residential construction.
On infill lots, the city may also ask for a demolition permit if any structure remains, and for erosion control during site work. Factor those steps into your schedule.
Funds are released in stages as an inspector confirms work is complete: foundation, framing, rough-ins, drywall, finishes and final. Keep the site ready for inspections, and plan for weather delays, especially in winter. Our draw schedule calculator helps map draws to your timeline.
Keep a simple record for every draw: the work completed, photos, invoices and lien waivers from subcontractors. Inspectors and title companies use these to confirm the work and protect the project from unpaid-contractor claims.
Send the lot address, plans, budget, timeline, builder details and your exit plan. We will review the project, explain how the loan would be sized and tell you what else we need.
If the project is a sale, include recent sales of comparable new homes. If it is a rental, include rent comps from newer homes or duplexes nearby.
A short summary of your past builds, with addresses, helps us move faster.
Yes. LendingStreet finances 1-8 unit investor construction in Huntington, Barboursville, Milton and nearby towns, including infill and build-to-rent. Suburban lots in Wayne County are included too.
On loan-to-cost, set per project. Plans, budget, location and builder experience all affect leverage. Your equity goes in before loan funds.
Yes, if zoning allows the use and you have plans and permits. Check setbacks and parking requirements first. Utility access and lot width also matter.
You may need elevation, special permits and flood insurance. Check the map before you buy. Elevation can add to hard costs, so price it early.
An inspector confirms each stage of work before funds are released for that stage. Keep invoices and lien waivers for each draw.
Yes. Many builders refinance into a DSCR loan once the property is complete and leased. Rent comps from newer homes help size that loan.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
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