Huntington is a university and hospital town on the Ohio River, and its rental market runs on that. Students, residents, nurses and faculty keep demand steady across neighborhoods where purchase prices are still modest.
In short: LendingStreet makes DSCR loans on 1-8 unit rentals in Huntington and the surrounding Cabell and Wayne county towns, qualified on the property's rent with no W-2s or tax returns. Loans start at $150,000 with no stated maximum, purchases go up to 80% LTV, and the standard minimum DSCR is 1.0x with a 620 credit score. In Huntington, the questions that matter most are which tenants a neighborhood draws, whether the property sits inside the floodwall, and whether a lower-priced house clears the loan minimum.
Most investor demand follows the two big employers. Marshall University sits on the east side of downtown, and the streets around it, including the area between Third and Sixth avenues and parts of Highlawn, are full of older houses leased to students, often by the bedroom. Cabell Huntington Hospital, the medical school and nearby clinics anchor Fairfield and the blocks south toward the hospital, where residents and staff look for quieter one- and two-bedroom units. St. Mary's Medical Center on the east end draws similar tenants.
Southside, especially near Ritter Park, has larger brick and frame homes that lease to professionals and families. Westmoreland and the West End offer lower prices and more workforce rentals. Guyandotte, on the far east side at the mouth of the Guyandotte River, has historic homes and a smaller rental base.
Outside the city, Barboursville, Ona and Milton in Cabell County and Kenova, Ceredo and Lavalette in Wayne County have newer subdivisions and single-family rentals that lease to families commuting along Interstate 64.
| Neighborhood | Main tenant base | Watch for |
|---|---|---|
| Near Marshall / Highlawn | Students, often by the bedroom | Annual turnover, occupancy rules |
| Fairfield / hospital area | Medical residents and staff | Parking, unit condition |
| Southside / Ritter Park | Professionals and families | Older systems in large homes |
| Westmoreland / West End | Workforce renters | Price versus loan minimum |
| Barboursville / Milton | Commuting families | HOA rules, newer comps |
Downtown Huntington and much of the city sit behind a floodwall built along the Ohio River after the great floods of the 1930s. Even so, flood maps still matter. Areas near the Guyandotte River, Fourpole Creek and other streams, and some neighborhoods outside the protected zone, can fall in mapped flood areas.
A flood policy adds to the monthly payment and lowers the DSCR. Pull the FEMA map for every address before you make an offer, and ask your insurance agent whether a policy is required or simply recommended. Older homes also need a roof age, electrical update history and heating system details for an accurate quote.
West Virginia assesses property at 60% of appraised value, so a 60% assessment ratio applies across the board. The class is what changes. A home occupied by its owner is Class II. Once you buy it as a rental inside Huntington, it moves to Class IV, which carries a higher levy. Outside city limits, a rental is Class III, also higher than owner-occupied.
Sellers who lived in the house may also have had a homestead exemption, which goes away when an investor buys. Budget on the rental class from day one, and confirm the figure with the Cabell County or Wayne County assessor.
| Item | Seller who lived there | You as an investor |
|---|---|---|
| Property class | Class II | Class IV in city, Class III outside |
| Levy | Lower owner-occupied levy | Higher non-owner-occupied levy |
| Homestead exemption | May apply | Does not apply |
This example is illustrative and not a quote. An investor buys a Highlawn single-family rental for $195,000 that leases for $1,525 a month. Taxes are budgeted at $235 a month at the rental class and insurance at $125.
At 80% LTV the loan is $156,000. The full payment, including estimated principal and interest on a 30-year term, taxes and insurance, is about $1,451, for a DSCR of about 1.05x. That clears 1.0x, but not by much. At 75% LTV the payment drops to about $1,383 and DSCR rises to about 1.10x, leaving more room if the tax bill comes in higher than expected.
Marshall students typically sign leases in the spring for an August move-in, and many leases run for twelve months with parents signing as well. That rhythm affects your loan. A purchase that closes in early summer may be vacant until August, so the rent we use will come from the appraiser's market rent estimate or signed future leases.
Check city rules on how many unrelated people can live in one unit, and plan for annual turnover costs such as paint, cleaning and minor repairs. Those costs are not in the DSCR formula, but they affect your real cash flow.
Plenty of houses in Westmoreland, the West End and parts of Highlawn trade at prices where an 80% loan would fall below $150,000. A few ways around that come up often in Huntington: buy a duplex or a converted multi-unit house, finance a higher-priced Southside or suburban home, or group five or more rentals under one blanket loan. If you own several free-and-clear rentals, refinancing them together can also work.
The same DSCR program covers purchases up to 80% LTV, rate-and-term refinances up to 80% LTV on some programs and cash-out refinances up to 75% LTV. Seasoning for cash-out varies by program. Many Huntington investors buy and renovate with short-term financing, lease the property, then refinance into a 30-year DSCR loan.
If you are buying a property that needs work first, a bridge or fix and flip loan can cover the purchase and repairs, and the DSCR refinance follows once a tenant is in place and the property appraises at its finished value.
Send the address, price, current or expected rent, an insurance quote with flood determination and the assessor record. Tell us whether the property leases to students, medical staff or long-term tenants. We will estimate the DSCR and loan amount before you spend money on an appraisal.
Yes. LendingStreet finances 1-8 unit rentals in Huntington, Barboursville, Milton, Kenova and nearby Cabell and Wayne county towns, for purchases and refinances.
Yes. Signed leases count as rent. For a vacant property, the appraiser's market rent estimate is used. Leases by the bedroom are added together for the unit.
It depends on the FEMA map for the specific address. Some properties near streams or outside the protected area are in mapped flood zones. Check before you make an offer.
An owner-occupied home is Class II. As a rental inside Huntington it becomes Class IV, with a higher levy, and any homestead exemption ends.
The minimum is 620. Higher scores and lower leverage can improve your terms.
Yes. LLC borrowers are standard, and members usually sign for the loan personally.
No. Our investor loans are business-purpose loans on non-owner-occupied property.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.