402 Center St · Elkins, WV 26241

$55,000

3 bd · 1.5 ba · 1,548 sqft · SingleFamily public records · 32 Days on market

Built 1950 4,356 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Looking for a fixer upper or flip home? Here you go! Located in the upcoming Graham-Davis District just a short distance from downtown Elkins. Spacious rooms, nice front porch and large flat yard. Sold in As Is condition.

Key facts

• Large front porch
• Flat yard
• 4,356 sq ft lot

Tags

• GRAHAM-DAVIS DISTRICT
• LARGE FRONT PORCH
• FLAT YARD

Property features AI

Finance

• HOA & community: Community amenities include golf and pool

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family detached residence; 2 stories
• Construction: Frame construction; Vinyl siding; Wood siding
• Exterior features: Level lot; Porch; Shingle roof

Interior

• Kitchen: Refrigerator; Range
• Flooring: Vinyl; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Space heater
• Interior features: Porch; Crawl space basement; 6 total rooms
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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.
• Zoned schools: Jennings Randolph Elementary School (math 37% / reading 47%, grade F, #87 of 377 statewide, top 28%, 251 students, 0% FRL); Elkins Middle School (math 17% / reading 32%, grade F, #84 of 109 statewide, top 81%, 569 students, 0% FRL); Elkins High School (math 27% / reading 47%, grade F, #32 of 110 statewide, top 34%, 783 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.09% ✓
• Cap rate: 18.78%
• Cash-on-cash: 44.58%
• DSCR: 2.98
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $143,964
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 Graham St	0.13mi	2/1.0 (-1)	1,468 (-5%)	2mo	$169,900	$116	77
918 S Kerens Ave	0.23mi	3/1.0	1,525 (-2%)	11mo	$170,000	$111	76
931 S Kerens	0.20mi	3/1.5	1,360 (-12%)	1mo	$118,000	$87	70
8 Locust St	0.20mi	3/2.0	1,352 (-13%)	4mo	$30,000	$22	64
1521 Taylor Ave	0.61mi	3/1.0	1,500 (-3%)	4mo	$155,000	$103	62
1416 S Davis Ave	0.52mi	3/1.5	1,450 (-6%)	11mo	$140,000	$97	56
118 Wilson St	0.65mi	3/2.0	1,648 (+6%)	1mo	$125,000	$76	56
128 Guy St	0.38mi	3/1.5	1,428 (-8%)	17mo	$143,000	$100	56
189 Summit St	0.47mi	4/1.5 (+1)	1,723 (+11%)	3mo	$126,000	$73	52
110 First St	0.29mi	3/2.0	1,680 (+8%)	22mo	$157,000	$93	52
1316 S Davis Ave	0.46mi	4/2.0 (+1)	1,596 (+3%)	19mo	$95,000	$60	50
227 Diamond St	0.42mi	3/2.0	1,332 (-14%)	21mo	$38,000	$29	38

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: 41.6%
• Equity multiple: 2.79×
• Total profit: $27,518
• Equity at exit: $8,201

10-year hold

• IRR: 47.8%
• Equity multiple: 5.60×
• Total profit: $70,848
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $572

Break-even live

Break-even rent $427

Max offer price $55,000

Occupancy floor 45%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $55,000 Active 32 DOM
2. 2026-06-17
   days on market $55,000 Active 31 DOM
3. 2026-06-16
   days on market $55,000 Active 30 DOM
4. 2026-06-15
   days on market $55,000 Active 29 DOM
5. 2026-06-15
   days on market $55,000 Active 28 DOM
6. 2026-06-13
   days on market $55,000 Active 27 DOM
7. 2026-06-12
   days on market $55,000 Active 26 DOM
8. 2026-06-09
   days on market $55,000 Active 23 DOM
9. 2026-06-08
   days on market $55,000 Active 22 DOM
10. 2026-06-08
    days on market $55,000 Active 21 DOM
11. 2026-06-07
    days on market $55,000 Active 20 DOM
12. 2026-06-04
    days on market $55,000 Active 18 DOM
13. 2026-06-03
    days on market $55,000 Active 17 DOM
14. 2026-06-02
    days on market $55,000 Active 16 DOM
15. 2026-06-01
    days on market $55,000 Active 15 DOM
16. 2026-05-31
    days on market $55,000 Active 14 DOM
17. 2026-05-17
    listed $55,000 Active
18. 2025-03-14
    soldstatus $48,000 Closed 221-char remark

    Show marketing remark (221 chars)

    Looking for a fixer upper or flip home? Here you go! Located in the upcoming Graham-Davis District just a short distance from downtown Elkins. Spacious rooms, nice front porch and large flat yard. Sold in As Is condition.

19. 2025-03-14
    soldstatus $48,000

    Show marketing remark (221 chars)

    Looking for a fixer upper or flip home? Here you go! Located in the upcoming Graham-Davis District just a short distance from downtown Elkins. Spacious rooms, nice front porch and large flat yard. Sold in As Is condition.

20. 2025-03-08
    historical Active Under Contract 221-char remark

    Show marketing remark (221 chars)

    Looking for a fixer upper or flip home? Here you go! Located in the upcoming Graham-Davis District just a short distance from downtown Elkins. Spacious rooms, nice front porch and large flat yard. Sold in As Is condition.

21. 2025-03-04
    listed $50,000 Active 221-char remark

    Show marketing remark (221 chars)

    Looking for a fixer upper or flip home? Here you go! Located in the upcoming Graham-Davis District just a short distance from downtown Elkins. Spacious rooms, nice front porch and large flat yard. Sold in As Is condition.

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $324 · $27/mo
• Expected delta: +$17/yr (+$1/mo · 5.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 20 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: $13,809
• − Mortgage interest: −$3,081
• − Property taxes: −$308
• − Insurance: −$275
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$1,600
• Taxable income: $6,336
• Est. tax owed @ 24.0%: −$1,521
• After-tax cash flow: $5,345/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

+10.0% since first listed

5 events — show timeline

• 2026-05-17 Listed $55,000 NCWVREIN
• 2025-03-14 Sold (Public Records) $48,000 Public Records
• 2025-03-14 Sold (MLS) $48,000 NCWVREIN
• 2025-03-08 Contingent — NCWVREIN
• 2025-03-04 Listed $50,000 NCWVREIN

Property tax history

+3.9%/yr

Latest (2025): $308 · +7.1% YoY. Source: county tax records.