151 Patricia Ave · Elkins, WV 26241

$99,999

2 bd · 1.0 ba · 2,024 sqft · SingleFamily public records · 61 Days on market

Built 1900 0.84 ac lot $49/sqft · 58% below area ↓ 20% 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on two lots totaling 0.84 acres, this unique property is tucked into a private, wooded setting just behind Davis & Elkins College, this one of a kind property blends history, character, and opportunity. Originally built in 1900 as a barn, the home has been thoughtfully converted the past 5 years into a unique residence filled with rustic charm, featuring several different wood accents throughout the home. Although an extensive amount of work has been done to the inside & out, the home will need some more TLC to complete the projects. This Spacious 4 bedroom 2 bath home has an additional bonus room (does not have a closet). The main level features a spacious kitchen that flows directly into a dedicated dining area creating a connected layout ideal for everyday living and gathering space. Beautiful white pine wood throughout the home with an accented staircase leading to the upper level. Along the back of the first floor, is a wrap around deck extending across the rear and both sides of the home. The upper level offers a separate exterior entrance with its own stair access, creating excellent potential for a private living area with its own kitchenette and bathroom. Upstairs you will find a spacious upper level living area, full bathroom, & 4 additional rooms, Flooring includes a combination of original hardwood and updated flooring. Outside the property continues to offer flexibility with a covered carport with attached storage buildings. The yard offers a large space for outdoor adventures, featuring a fire pit area, gardens, wooded sitting area, & much more. Refrigerator & Stove do convey with the home. Windows in the home were installed recently & 1/2 of the roof was replaced with a metal roof. There is a lot of custom work that was done to this home, looking for a new buyer to complete & make it their own.

Key facts

• Two lots
• Multiple bonus rooms
• Spacious kitchen

Tags

• TWO LOTS
• PRIVATE WOODED SETTING
• CONVERTED BARN
• MULTIPLE BONUS ROOMS
• SPACIOUS KITCHEN
• DEDICATED DINING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.7% in Elkins — 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 74/100 on livability (#34 in WV, #4,824 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Randolph County Schools (town): math 24% / reading 35% proficiency, ranked #33 of 55 in WV (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Randolph County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.58%
• DSCR: 1.47
• GRM: 7.8

CMA / ARV

• ARV (median comp): $200,329
• List price: $99,999
• Delta: -50.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Kerens	0.31mi	2/2.0	1,805 (-11%)	21mo	$264,900	$147	46
110 Guy St	0.60mi	3/1.5 (+1)	1,908 (-6%)	20mo	$153,750	$81	39
501 Yokum	0.62mi	3/1.5 (+1)	1,732 (-14%)	13mo	$160,000	$92	29
304 Grant	0.72mi	3/2.0 (+1)	2,300 (+14%)	14mo	$255,000	$111	23

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-4,032
• Equity at exit: $14,910

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $12,138
• Equity at exit: $8,646

Cash invested: $28,000 (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 26241

• Home prices YoY: -32.8%
• Active inventory: 86
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,065 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $191

Break-even live

Break-even rent $823

Max offer price $99,999

Occupancy floor 77%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $99,999 Active 61 DOM
2. 2026-06-17
   pricedays on market $99,999 Active 60 DOM
3. 2026-06-16
   days on market $129,999 Active 59 DOM
4. 2026-06-15
   days on market $129,999 Active 58 DOM
5. 2026-06-15
   days on market $129,999 Active 57 DOM
6. 2026-06-13
   days on market $129,999 Active 56 DOM
7. 2026-06-12
   days on market $129,999 Active 55 DOM
8. 2026-06-09
   days on market $129,999 Active 52 DOM
9. 2026-06-08
   days on market $129,999 Active 51 DOM
10. 2026-06-08
    days on market $129,999 Active 50 DOM
11. 2026-06-07
    days on market $129,999 Active 49 DOM
12. 2026-06-04
    days on market $129,999 Active 47 DOM
13. 2026-06-03
    days on market $129,999 Active 46 DOM
14. 2026-06-02
    days on market $129,999 Active 45 DOM
15. 2026-06-01
    days on market $129,999 Active 44 DOM
16. 2026-05-31
    days on market $129,999 Active 43 DOM
17. 2026-05-03
    price $139,999 1890-char remark

    Show marketing remark (1890 chars)

    Situated on two lots totaling 0.84 acres, this unique property is tucked into a private, wooded setting just behind Davis & Elkins College, this one of a kind property blends history, character, and opportunity. Originally built in 1900 as a barn, the home has been thoughtfully converted the past 5 years into a unique residence filled with rustic charm, featuring several different wood accents throughout the home. Although an extensive amount of work has been done to the inside & out, the home will need some more TLC to complete the projects. This Spacious 4 bedroom 2 bath home has an additional bonus room (does not have a closet). The main level features a spacious kitchen that flows directly into a dedicated dining area creating a connected layout ideal for everyday living and gathering space. Beautiful white pine wood throughout the home with an accented staircase leading to the upper level. Along the back of the first floor, is a wrap around deck extending across the rear and both sides of the home. The upper level offers a separate exterior entrance with its own stair access, creating excellent potential for a private living area with its own kitchenette and bathroom. Upstairs you will find a spacious upper level living area, full bathroom, & 4 additional rooms, Flooring includes a combination of original hardwood and updated flooring. Outside the property continues to offer flexibility with a covered carport with attached storage buildings. The yard offers a large space for outdoor adventures, featuring a fire pit area, gardens, wooded sitting area, & much more. Refrigerator & Stove do convey with the home. Windows in the home were installed recently & 1/2 of the roof was replaced with a metal roof. There is a lot of custom work that was done to this home, looking for a new buyer to complete & make it their own.

18. 2026-04-18
    listed $175,000 Active 1890-char remark

    Show marketing remark (1890 chars)

    Situated on two lots totaling 0.84 acres, this unique property is tucked into a private, wooded setting just behind Davis & Elkins College, this one of a kind property blends history, character, and opportunity. Originally built in 1900 as a barn, the home has been thoughtfully converted the past 5 years into a unique residence filled with rustic charm, featuring several different wood accents throughout the home. Although an extensive amount of work has been done to the inside & out, the home will need some more TLC to complete the projects. This Spacious 4 bedroom 2 bath home has an additional bonus room (does not have a closet). The main level features a spacious kitchen that flows directly into a dedicated dining area creating a connected layout ideal for everyday living and gathering space. Beautiful white pine wood throughout the home with an accented staircase leading to the upper level. Along the back of the first floor, is a wrap around deck extending across the rear and both sides of the home. The upper level offers a separate exterior entrance with its own stair access, creating excellent potential for a private living area with its own kitchenette and bathroom. Upstairs you will find a spacious upper level living area, full bathroom, & 4 additional rooms, Flooring includes a combination of original hardwood and updated flooring. Outside the property continues to offer flexibility with a covered carport with attached storage buildings. The yard offers a large space for outdoor adventures, featuring a fire pit area, gardens, wooded sitting area, & much more. Refrigerator & Stove do convey with the home. Windows in the home were installed recently & 1/2 of the roof was replaced with a metal roof. There is a lot of custom work that was done to this home, looking for a new buyer to complete & make it their own.

ⓘ 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: $339 · $28/mo
• Projected year-2 tax: $590 · $49/mo
• Expected delta: +$251/yr (+$21/mo · 74.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,777
• − Mortgage interest: −$5,601
• − Property taxes: −$339
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$2,909
• Taxable income: $716
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $2,123/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: Randolph County Schools
• NCES district ID: 5401260
• Math proficiency: 24% ▼ -5.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $37,907
• Composite: 24.6/100
• National rank: #7633
• State rank: #33 of 55 in WV

Livability — Elkins

• Score: 74/100
• State rank: #34
• US rank: #4824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkins, WV
• Population (ZIP): 14,221

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 28,286 people
• By 2030: 27,558 · -2.6%
• By 2040: 25,970 · -8.2%
• By 2050: 24,529 · -13.3%
• By 2075: 21,645 · -23.5%
• By 2100: 17,349 · -38.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2% Black 1%
• Common ancestry: Slovak 4% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+46.1) · D 25.9% · R 72.1% · Other 2.0%
• 2008→2024 swing: -32.1pp toward R · 2008: -14.0pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+43.5 2016: R+44.9 2012: R+29.1 2008: R+14.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.60%
• Current HPI: 144.7471
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

2 events — show timeline

• 2026-05-03 Price Changed $139,999 NCWVREIN
• 2026-04-18 Listed $175,000 NCWVREIN

Property tax history

-1.4%/yr

Latest (2025): $339 · +7.2% YoY. Source: county tax records.