526 N High St · Martinsburg, WV 25404

$125,000

3 bd · 1.0 ba · 1,356 sqft · SingleFamily public records · 22 Days on market

Built 1910 8,999 sqft lot Est $225k · 44% under

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Why this score? — see what drove the B 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-BEDROOM HOME WITH DEEP BACKYARD AND OFF-STREET PARKING. HARDWOOD FLOORS. GREAT OPPORTUNITY IN DOWNTOWN MARTINSBURG. EXCELLENT RENOVATION PROJECT FOR FLIPPERS AND OTHERS WHO ARE WILLING TO ROLL UP THEIR SLEEVES AND GET TO WORK. Sold strictly as-is, where-is. Cash only. This is one of six houses in various stages of interior demo/reno being offered for sale by this owner. Six building lots also are for sale. The Eastern Panhandle is one of the fastest growing areas of West Virginia. Residents of Martinsburg and Berkeley County are attracted to the small-town atmosphere, employment opportunities, restaurants, shopping, services, medical facilities, a revitalizing downtown, and access to majo

Key facts

• Downtown martinsburg
• Deep backyard
• Off-street parking

Tags

• DEEP BACKYARD
• OFF-STREET PARKING
• HARDWOOD FLOORS
• DOWNTOWN MARTINSBURG
• RENOVATION PROJECT
• ACCESS TO MAJOR ROADS

Property features AI

Finance

• Other: Above-grade finished area reported as 1,356 (assessor); Property condition listed as major rehab needed
• Financial info: Fee simple ownership

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Asphalt roof; Permanent foundation; Above-grade finished living area reported by assessor
• Construction: Composition construction materials; Structure is detached
• Exterior features: Not in a federal flood zone; In city limits (City of Martinsburg)

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms on the upper level (Master Bedroom, Bedroom 2, Bedroom 3)
• Flooring: Hardwood floors; Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Electric and natural gas heating fuels; Central air conditioning
• Interior features: Full basement; Living room and dining room; Major rehab needed
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.0% in Martinsburg — 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 75/100 on livability (#29 in WV, #4,057 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment D-.
• 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.
• Zoned schools: Burke Street Elementary School (math 50% / reading 50%, grade D, #49 of 377 statewide, top 16%, 208 students, 0% FRL); Martinsburg North Middle School (math 10% / reading 34%, grade F, #95 of 109 statewide, top 88%, 666 students, 0% FRL); Martinsburg High School (math 17% / reading 49%, grade F, #53 of 110 statewide, top 48%, 1,471 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.3%/yr); 109 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 20y 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 $33k; list at $125k implies a 279% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $225,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
728 N High St	0.22mi	3/2.0	1,336 (-2%)	6mo	$218,000	$163	78
719 2nd St	0.26mi	4/2.0 (+1)	1,354 (-0%)	7mo	$200,000	$148	73
118 Strine Ave	0.26mi	3/2.5	1,440 (+6%)	4mo	$265,000	$184	68
716 E Moler Ave	0.44mi	3/1.5	1,404 (+4%)	4mo	$221,500	$158	68
521 E Moler Ave	0.33mi	3/1.5	1,280 (-6%)	7mo	$212,000	$166	67
503 N High St	0.08mi	3/2.0	1,532 (+13%)	4mo	$245,000	$160	67
709 Albert St	0.19mi	3/2.5	1,470 (+8%)	6mo	$280,000	$190	66
320 Twigg Dr	0.66mi	4/2.0 (+1)	1,281 (-6%)	5mo	$260,000	$203	47
422 Randolph St	0.67mi	4/1.5 (+1)	1,456 (+7%)	6mo	$230,000	$158	44
200 Rothwell Ave	0.46mi	3/2.0	1,152 (-15%)	7mo	$229,000	$199	44
334 Yoakum Ave	0.60mi	3/2.0	1,183 (-13%)	4mo	$284,900	$241	44
602 W Race St	0.73mi	2/1.0 (-1)	1,204 (-11%)	2mo	$167,000	$139	40

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 · 6.3% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $13,096
• Equity at exit: $18,638

10-year hold

• IRR: 20.9%
• Equity multiple: 3.04×
• Total profit: $71,366
• Equity at exit: $10,808

Cash invested: $35,000 (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 25404

• Home prices YoY: -10.7%
• Rents YoY: 6.3%
• Active inventory: 109
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,598 high
• Mortgage (P&I): −$656
• Tax from tax record: −$117 /mo · $1,410/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $438

Break-even live

Break-even rent $1,044

Max offer price $125,000

Occupancy floor 68%

Sensitivity live

Price	-10% $508	-5% $473	+0% $438	+5% $402	+10% $367
Rent	-10% $311	-5% $374	+0% $438	+5% $501	+10% $564
Rate	-1.0pp $501	-0.5pp $469	base $438	+0.5pp $405	+1.0pp $372

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
316 N High St Martinsburg, WV	3.0	1.5	1300	$1,650	$1.27	14d	1	0.19mi
721 2nd St Unit A Martinsburg, WV	2.0	1.0	1412	$1,180	$0.84	14d	1	0.27mi
116 S High St Martinsburg, WV	2.0	1.0	1200	$1,280	$1.07	14d	1	0.44mi
218 N College St Martinsburg, WV	3.0	1.0	1200	$1,330	$1.11	22d	1	0.48mi
328 Boyd Ave Martinsburg, WV	3.0	2.0	1700	$1,450	$0.85	22d	1	0.52mi
200 E King St Martinsburg, WV	2.0	1.0	900	$900	$1.00	14d	1	0.56mi
200 E King St Unit 10 Martinsburg, WV	2.0	1.0	900	$900	$1.00	22d	1	0.56mi
589 Berkeley Cir Martinsburg, WV	2.0	2.0	1160	$1,970	$1.70	13d	1	0.58mi
226 N Raleigh St Martinsburg, WV	3.0	1.0	1200	$1,450	$1.21	22d	1	0.65mi
215 W King St Apt B Martinsburg, WV	2.0	2.0	1192	$1,690	$1.42	22d	1	0.67mi
1123 Shepherdstown Rd Martinsburg, WV	3.0	1.0	1429	$1,900	$1.33	22d	1	0.88mi
700 Thomas Ln Martinsburg, WV	2.0	1.0	900	$1,200	$1.33	22d	1	0.90mi
704 Thomas Ln Martinsburg, WV	2.0	1.0	950	$1,300	$1.37	22d	1	0.93mi
600 W John St Martinsburg, WV	1.0–2.0	1.0–2.0	976	$2,026	$2.08	14d	14	0.95mi
1100 Myna Ct Martinsburg, WV	2.0–3.0	2.0–2.5	1400	$1,870	$1.34	14d	15	0.95mi
620 W Virginia Ave Martinsburg, WV	3.0	1.0	1200	$1,555	$1.30	14d	1	1.15mi
653 Faulkner Ave Martinsburg, WV	3.0	1.5	1442	$1,450	$1.01	22d	1	1.28mi
19 Tevis Cir Martinsburg, WV	2.0	2.0	1128	$1,545	$1.37	14d	5	1.37mi
236 Trimble Ave Martinsburg, WV	2.0	1.5	1200	$1,350	$1.12	14d	1	1.39mi
808 Marquette Dr Martinsburg, WV	3.0	2.5	1299	$1,730	$1.33	22d	1	1.41mi

Listing history 37 events

1. 2026-06-07
   statusdays on market $125,000 Pending 22 DOM
2. 2026-06-02
   days on market $125,000 Active 21 DOM
3. 2026-06-01
   days on market $125,000 Active 20 DOM
4. 2026-05-31
   days on market $125,000 Active 19 DOM
5. 2026-05-30
   days on market $125,000 Active 18 DOM
6. 2026-05-22
   status Active
7. 2025-12-24
   historical
8. 2025-12-14
   listed $125,000 Active
9. 2019-11-24
   historical
10. 2019-06-06
    listed $140,000 Active
11. 2017-12-06
    historical Withdrawn
12. 2017-09-30
    listed Active
13. 2017-09-30
    listed $140,000 Active
14. 2009-05-19
    soldstatus $33,000 Sold
15. 2009-05-19
    soldstatus $33,000
16. 2009-04-18
    historical
17. 2009-04-17
    historical
18. 2009-04-13
    price $48,900
19. 2009-03-25
    status
20. 2009-03-16
    historical
21. 2009-02-02
    price $54,900
22. 2008-12-23
    price $59,900
23. 2008-09-17
    status
24. 2008-09-16
    historical
25. 2008-08-08
    price $72,200
26. 2008-06-29
    price $77,900
27. 2008-02-27
    listed $83,600
28. 2008-02-27
    listed $48,900
29. 2008-01-03
    historical
30. 2007-08-31
    listed
31. 2007-07-23
    historical
32. 2007-05-01
    listed
33. 2006-12-13
    soldstatus $95,000
34. 2006-12-13
    soldstatus $95,000
35. 2006-11-08
    historical
36. 2006-10-03
    listed $95,000
37. 2002-10-08
    soldstatus $39,600

ⓘ 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: $1,410 · $117/mo
• Projected year-2 tax: $1,410 · $117/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,179
• − Mortgage interest: −$7,002
• − Property taxes: −$1,410
• − Insurance: −$625
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$3,636
• Taxable income: $3,438
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $4,426/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 — Martinsburg

• Score: 75/100
• State rank: #29
• US rank: #4057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsburg, WV
• County: Berkeley County · 85,235 people
• City population: 55,439
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 23,990
• Household income: $70,633
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 833.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 3% Italian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -24.58%
• Current HPI: 205.3277
• Rent YoY: ▲ 6.30%
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

+215.7% since first listed

32 events — show timeline

• 2026-05-22 Relisted — BRIGHT MLS
• 2025-12-24 Listing Removed — BRIGHT MLS
• 2025-12-14 Listed $125,000 BRIGHT MLS
• 2019-11-24 Listing Removed — BRIGHT MLS
• 2019-06-06 Listed $140,000 BRIGHT MLS
• 2017-12-06 Delisted — MRIS
• 2017-09-30 Listed — MRIS
• 2017-09-30 Listed $140,000 BRIGHT MLS
• 2009-05-19 Sold (MLS) $33,000 BRIGHT MLS
• 2009-05-19 Sold (MLS) $33,000 MRIS
• 2009-04-18 Delisted — MRIS
• 2009-04-17 Listing Removed — BRIGHT MLS
• 2009-04-13 Price Changed $48,900 MRIS
• 2009-03-25 Relisted — MRIS
• 2009-03-16 Delisted — MRIS
• 2009-02-02 Price Changed $54,900 MRIS
• 2008-12-23 Price Changed $59,900 MRIS
• 2008-09-17 Relisted — MRIS
• 2008-09-16 Delisted — MRIS
• 2008-08-08 Price Changed $72,200 MRIS
• 2008-06-29 Price Changed $77,900 MRIS
• 2008-02-27 Listed $48,900 BRIGHT MLS
• 2008-02-27 Listed $83,600 MRIS
• 2008-01-03 Delisted — MRIS
• 2007-08-31 Listed — MRIS
• 2007-07-23 Delisted — MRIS
• 2007-05-01 Listed — MRIS
• 2006-12-13 Sold (Public Records) $95,000 Public Records
• 2006-12-13 Sold (MLS) $95,000 MRIS
• 2006-11-08 Delisted — MRIS
• 2006-10-03 Listed $95,000 MRIS
• 2002-10-08 Sold (Public Records) $39,600 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,410 · +7.9% YoY. Source: county tax records.