469 Perspective Pl · Falling Waters, WV 25427

$392,000

3 bd · 2.0 ba · 1,736 sqft · SingleFamily public records · 6 Days on market

Built 2022 8,276 sqft lot Est $391k · at est. $25/mo HOA · 1% of rent

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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).

• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• Cash flow +7.2/30.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

To be built DOMINICA SPRING at the new CARDINAL POINTE by Ryan Homes. You love hosting traditional dinner parties. You have a few heirloom pieces of furniture you refuse to part with. The Dominica Spring is the right fit for a classic grand lifestyle. Your antique table and buffet will fit nicely in your formal dining room. Make holidays special and serve a traditional family dinner, everyone sits at the same time. No cell phones allowed. Invite a small group of friends over for an impromptu game of cards. The open floor plan includes a kitchen island and dining. You have plenty of options for casual entertaining. If you prefer to be alone, relax following a round of golf with friends, you have room to spread out. The Dominica Spring is perfect for a traditional and relaxed lifestyle. All the details have been taken care of for you! Wider doorways & hallways, primary bathroom with walk-in shower and seat, level handled doorknobs, lowered light switches, and more. Main-level living has never been so convenient! Enjoy sidewalk lined streets and a community picnic pavilion. What are you waiting for? One-Level Living will allow you to own a new home and take advantage of all the benefits of owning! Cardinal Pointe offers floorplans for everyone! Other homesites are available. Photos are representative only.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 2022

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as very good
• HOA & community: Annual HOA fee of $300

Exterior

• Parking: Front-entry attached garage with 2 garage spaces; Garage door opener; Driveway with 2 parking spaces; Total of 4 garage and parking spaces
• Utilities: Public water; Public sewer; Cable internet available
• Home design: Detached single-family home; Built by Ryan Homes; Architectural shingle roof; Stone and vinyl siding exterior
• Construction: Built (year per assessor); Concrete perimeter foundation
• Exterior features: Level entry to main floor; Entry slope less than 1 foot; Above- and below-grade exterior structures

Interior

• Kitchen: Built-in microwave; Dishwasher; Electric oven/range; Stainless steel appliances; Refrigerator
• Bedrooms: Three main-level bedrooms (Master Bedroom, Bedroom 2, Bedroom 3); Office listed as an additional room
• Flooring: Luxury vinyl plank flooring
• Bathrooms: Two full bathrooms (including master bathroom)
• Heating & cooling: Heat pump(s) heating; Central air conditioning (electric); Electric hot water
• Interior features: Open floor plan; Combination kitchen and dining area; Kitchen island; Pantry; Recessed lighting; Family room off the kitchen; Walk-in shower in bathroom; Walk-in closet(s); Entry-level bedroom; Full, improved basement
• Laundry & utility: Main-floor laundry with hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $392k.

Deal economics

• At list price, monthly cash flow is $-536 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $297k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (38.4% below list).
• Recommended offer: $241k (38.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#116 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Berkeley County Schools (other): math 21% / reading 38% proficiency, ranked #24 of 55 in WV (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 96 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).
• This rent runs 33% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $39k appreciation (10.0% local appreciation)).
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $339k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $241,321 (38.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.62% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 13.5

CMA / ARV

• ARV (on-the-fly): $390,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Perspective Pl	0.27mi	3/2.0	1,716 (-1%)	4mo	$389,900	$227	83
4243 Hammonds Mill Rd	0.14mi	3/2.0	1,624 (-6%)	0mo	$419,000	$258	82
87 Opulent Ct	0.14mi	3/2.0	1,576 (-9%)	1mo	$355,000	$225	77
229 Porch Light Ln	0.03mi	3/2.0	1,576 (-9%)	9mo	$364,000	$231	76
106 Vaquero Dr	0.49mi	3/2.0	1,800 (+4%)	4mo	$120,000	$67	68
27 Wyoming Way	0.24mi	3/2.0	1,533 (-12%)	4mo	$349,000	$228	67
310 Otero Ln	0.27mi	4/2.5 (+1)	1,900 (+9%)	0mo	$370,000	$195	64
285 Sanctuary Dr	0.23mi	4/2.5 (+1)	1,900 (+9%)	4mo	$360,000	$189	63
44 Wyoming Way	0.22mi	3/2.0	1,559 (-10%)	13mo	$358,000	$230	62
31 Costilla Way	0.28mi	4/2.5 (+1)	1,900 (+9%)	10mo	$378,000	$199	56
242 Otero Ln	0.31mi	4/2.5 (+1)	1,903 (+10%)	8mo	$345,000	$181	56
757 Otero Ln	0.37mi	4/2.5 (+1)	1,903 (+10%)	13mo	$379,990	$200	49

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $179,259
• Equity at exit: $353,145

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $554,455
• Equity at exit: $761,570

Cash invested: $109,760 (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 25427

• Home prices YoY: 5.6%
• Active inventory: 96
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,413 medium
• Mortgage (P&I): −$2,056
• Tax from tax record: −$198 /mo · $2,375/yr
• Insurance: −$163
• HOA: −$25
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $-536

Break-even live

Break-even rent $3,091

Max offer price $297,399

Occupancy floor —

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: $98,000
• Closing costs: $11,760
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
87 Changing Season Way Cherry Run, WV	3.0	2.5	1440	$2,330	$1.62	21d	1	0.27mi
801 Otero Ln , WV	4.0	2.5	2203	$2,800	$1.27	21d	1	0.36mi
105 Dripping Spring Dr Hedgesville, WV	3.0	2.5	1967	$2,130	$1.08	21d	1	0.41mi

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: trash

Listing history 6 events

1. 2026-06-18
   days on market $392,000 Coming Soon 6 DOM
2. 2026-06-17
   days on market $392,000 Coming Soon 5 DOM
3. 2026-06-16
   days on market $392,000 Coming Soon 4 DOM
4. 2026-06-15
   days on market $392,000 Coming Soon 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $392,000 Coming Soon 1 DOM

ⓘ 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: $2,375 · $198/mo
• Projected year-2 tax: $2,375 · $198/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,959
• − Mortgage interest: −$21,958
• − Property taxes: −$2,375
• − Insurance: −$1,960
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − HOA: −$300
• − Depreciation: −$11,404
• Taxable loss: −$13,672
• Est. tax savings @ 24.0%: +$3,281
• After-tax cash flow: $-3,145/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: Berkeley County Schools
• NCES district ID: 5400060
• Math proficiency: 21% ▼ -12.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $54,599
• Composite: 26.16/100
• National rank: #7273
• State rank: #24 of 55 in WV

Livability — Falling Waters

• Score: 66/100
• State rank: #116
• US rank: #12314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berkeley County · 85,235 people
• City population: 13,201
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 16,595
• Household income: $87,184
• Rent vs Own: 11.6% rent · 88.4% own
• Severe rent burden: 120.0

Population outlook (Berkeley County) Hauer SSP2

• Today (2025): 127,359 people
• By 2030: 134,684 · +5.8%
• By 2040: 148,219 · +16.4%
• By 2050: 159,300 · +25.1%
• By 2075: 179,920 · +41.3%
• By 2100: 183,896 · +44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Berkeley

• 2024 margin: Solid R (+35.8) · D 31.2% · R 67.0% · Other 1.8%
• 2008→2024 swing: -22.8pp toward R · 2008: -13.0pp · 2024: -35.8pp
• All cycles: 2024: R+35.8 2020: R+31.2 2016: R+37.2 2012: R+21.3 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.42%
• Current HPI: 270.4542
• Rent YoY: —
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

+15.7% since first listed

4 events — show timeline

• 2026-06-12 Coming Soon $392,000 BRIGHT MLS
• 2022-07-06 Sold (MLS) $338,810 BRIGHT MLS
• 2022-07-05 Listing Removed — BRIGHT MLS
• 2022-07-05 Listed $338,810 BRIGHT MLS

Property tax history

+41.5%/yr

Latest (2025): $2,375 · -0.1% YoY. Source: county tax records.