154 Red Barn Rd · Wayne, WV 25514

$144,000

4 bd · 2.0 ba · 2,400 sqft · Manufactured · 28 Days on market

Built 2004 Fair condition 30 ac lot $60/sqft · 49% below area Est $284k · 49% under ↓ 22% since listing

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Why this score? — see what drove the C 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 +16.3/30.0
• ARV discount +15.0/15.0
• Appreciation +6.8/10.0
• DSCR +5.1/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0

Listing remarks MLS

Welcome to Wayne County & the setting of a 2400 s/f home on 30 +/- acres! This property is waiting for a little TLC to bring it back to a wonderful place to call home. Property includes workshop, barn, machine shed and storage building. Interior lg. primary bedroom with a bath that needs a little refurbishing, kitchen/Dining combo, den with fireplace, living room as well as additional 3 bedroooms & hall bath that will need your vision! Rear Deck spans the entire back of the home. This is a HUD foreclosure - 571-173832 - Property being sold "AS IS"! No repairs prior to closing All offers to be submitted through www. Hudhomestore.com

Key facts

• Barn
• Storage building
• Machine shed

Tags

• 30 ACRES
• WORKSHOP
• BARN
• MACHINE SHED
• STORAGE BUILDING
• REAR DECK

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $144k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $13 ($155/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (5.5% below list).
• Recommended offer: $136k (5.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#226 in WV) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Wayne County Schools (rural): math 25% / reading 38% proficiency, ranked #25 of 55 in WV (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 67 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($996 loan paydown + $5k appreciation (3.6% local appreciation)).
• Wayne County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,019 (5.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $284,454
• List price: $144,000
• Delta: -49.38%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.57×
• Total profit: $23,014
• Equity at exit: $69,835

10-year hold

• IRR: 11.7%
• Equity multiple: 2.86×
• Total profit: $75,113
• Equity at exit: $111,759

Cash invested: $40,320 (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 25514

• Home prices YoY: 2.7%
• Active inventory: 14
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$755
• Tax est. 1.5%: −$180 /mo · $2,160/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $13

Break-even live

Break-even rent $1,344

Max offer price $144,000

Occupancy floor 94%

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-20
   listed $144,000 Active 665-char remark

   Show marketing remark (665 chars)

   Welcome to Wayne County & the setting of a 2400 s/f home on 30 +/- acres! This property is waiting for a little TLC to bring it back to a wonderful place to call home. Property includes workshop, barn, machine shed and storage building. Interior lg. primary bedroom with a bath that needs a little refurbishing, kitchen/Dining combo, den with fireplace, living room as well as additional 3 bedroooms & hall bath that will need your vision! Rear Deck spans the entire back of the home. This is a HUD foreclosure - 571-173832 - Property being sold "AS IS"! No repairs prior to closing All offers to be submitted through www. Hudhomestore.com

2. 2022-04-05
   soldstatus $184,000
3. 2021-12-29
   listed $185,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 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: $16,322
• − Mortgage interest: −$8,066
• − Property taxes: −$2,160
• − Insurance: −$1,518
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$4,189
• Taxable loss: −$2,222
• Est. tax savings @ 24.0%: +$533
• After-tax cash flow: $689/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.

Condition & rehab AI · 12 photos

Fair 40/100 Moderate rehab

This manufactured home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, flooring, and interior walls.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — need refurbishing
• Major flooring — carpeted floors in living areas
• Major interior walls — wallpaper in kitchen and dining area

Value-add opportunities

• Resale paint interior walls — enhances curb appeal and interior aesthetics
• Resale replace carpeted flooring — improves living space and adds value
• Resale update kitchen cabinets and fixtures — modernizes the kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · need refurbishing	Major	$15,000–50,000
flooring · carpeted floors in living areas	Major	$15,000–50,000
interior walls · wallpaper in kitchen and dining area	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal and interior aesthetics ↑
• Resale replace carpeted flooring — improves living space and adds value ↑
• Resale update kitchen cabinets and fixtures — modernizes the kitchen and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wayne County Schools
• NCES district ID: 5401500
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $36,283
• Composite: 26.08/100
• National rank: #7297
• State rank: #25 of 55 in WV

Livability — Wayne

• Score: 59/100
• State rank: #226
• US rank: #19755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,841

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 38,267 people
• By 2030: 36,578 · -4.4%
• By 2040: 33,034 · -13.7%
• By 2050: 29,671 · -22.5%
• By 2075: 22,901 · -40.2%
• By 2100: 17,421 · -54.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 6% Two or more races 4%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+53.4) · D 22.4% · R 75.8% · Other 1.8%
• 2008→2024 swing: -35.1pp toward R · 2008: -18.2pp · 2024: -53.4pp
• All cycles: 2024: R+53.4 2020: R+50.1 2016: R+51.3 2012: R+27.0 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.62%
• Current HPI: 135.5736
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-22.2% since first listed

3 events — show timeline

• 2026-04-20 Listed $144,000 HBRMLS
• 2022-04-05 Sold (MLS) $184,000 HBRMLS
• 2021-12-29 Listed $185,000 HBRMLS