424 E Moler Ave · Martinsburg, WV 25404

$179,000

2 bd · 1.5 ba · 1,904 sqft · SingleFamily public records · 119 Days on market

Built 1880 6,970 sqft lot Est $228k · 22% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Rent growth +4.1/5.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,970 sq ft lot
• Built 1880
• Listed 119 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Estimated year built
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Not in a federal flood zone; Above-grade other structures

Interior

• Bedrooms: Three bedrooms on the upper level
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Hot water heating; Natural gas heating fuel; Central air conditioning (electric)
• Interior features: Estimated living area; Two fireplaces; Unfinished basement with outside entrance

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $162k (9.7% below list).
• Recommended offer: $162k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Market conditions: Rents rising fast (+6.3%/yr); 109 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 31y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $179k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $161,579 (9.7% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.90% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $228,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 E Moler Ave	0.06mi	3/2.0 (+1)	1,856 (-2%)	1mo	$249,900	$135	85
613 Albert St	0.15mi	3/2.0 (+1)	2,000 (+5%)	3mo	$135,000	$68	75
721 3rd St	0.14mi	2/1.0	1,760 (-8%)	8mo	$155,000	$88	72
39 Rolling Meadows Dr	0.33mi	3/2.0 (+1)	1,776 (-7%)	1mo	$200,000	$113	66
319 Athletic St	0.33mi	3/2.0 (+1)	1,880 (-1%)	12mo	$253,000	$135	65
917 Kaufman Ave	0.10mi	3/1.0 (+1)	1,742 (-8%)	13mo	$265,000	$152	63
329 N High St	0.43mi	3/2.0 (+1)	1,860 (-2%)	8mo	$243,000	$131	63
1002 N Queen St	0.28mi	3/1.5 (+1)	1,728 (-9%)	7mo	$208,000	$120	60
210 Gussie Ave	0.57mi	3/2.0 (+1)	1,816 (-5%)	4mo	$179,000	$99	56
218 W Race St	0.70mi	2/1.0	1,784 (-6%)	2mo	$140,000	$78	53
823 E Moler Ave	0.36mi	3/1.0 (+1)	1,646 (-14%)	4mo	$100,000	$61	50
329 Boyd Ave	0.68mi	3/2.5 (+1)	1,814 (-5%)	12mo	$294,000	$162	41

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: -8.4%
• Equity multiple: 0.68×
• Total profit: $-15,864
• Equity at exit: $26,689

10-year hold

• IRR: 4.8%
• Equity multiple: 1.40×
• Total profit: $20,242
• Equity at exit: $15,477

Cash invested: $50,120 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$939
• Tax from tax record: −$143 /mo · $1,722/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $120

Break-even live

Break-even rent $1,464

Max offer price $179,000

Occupancy floor 88%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 2nd St Unit A Martinsburg, WV	2.0	1.0	1412	$1,180	$0.84	13d	1	0.25mi
316 N High St Martinsburg, WV	3.0	1.5	1300	$1,650	$1.27	13d	1	0.45mi
1100 Myna Ct Martinsburg, WV	2.0–3.0	2.0–2.5	1400	$1,640	$1.17	13d	15	0.69mi
1123 Shepherdstown Rd Martinsburg, WV	3.0	1.0	1429	$1,900	$1.33	21d	1	0.69mi
328 Boyd Ave Martinsburg, WV	3.0	2.0	1700	$1,450	$0.85	21d	1	0.71mi
61 Quartz Rd Martinsburg, WV	3.0	3.5	2400	$2,000	$0.83	21d	1	0.91mi
507 W John St Unit C Martinsburg, WV	2.0	1.0	2564	$1,100	$0.43	13d	1	1.10mi
600 W John St Martinsburg, WV	1.0–2.0	1.0–2.0	976	$2,026	$2.08	13d	14	1.19mi
14 Snickers Ct Martinsburg, WV	3.0	2.5	1960	$1,900	$0.97	21d	1	1.40mi
403 S Tennessee Ave Martinsburg, WV	3.0	2.0	1880	$2,000	$1.06	21d	1	1.48mi

Listing history 39 events

1. 2026-06-18
   days on market $179,000 Active 119 DOM
2. 2026-06-17
   days on market $179,000 Active 118 DOM
3. 2026-06-16
   days on market $179,000 Active 117 DOM
4. 2026-06-15
   days on market $179,000 Active 116 DOM
5. 2026-06-14
   days on market $179,000 Active 114 DOM
6. 2026-06-13
   days on market $179,000 Active 113 DOM
7. 2026-06-10
   days on market $179,000 Active 111 DOM
8. 2026-06-09
   days on market $179,000 Active 110 DOM
9. 2026-06-08
   days on market $179,000 Active 109 DOM
10. 2026-06-07
    days on market $179,000 Active 108 DOM
11. 2026-06-02
    days on market $179,000 Active 103 DOM
12. 2026-06-01
    days on market $179,000 Active 102 DOM
13. 2026-05-31
    days on market $179,000 Active 101 DOM
14. 2026-05-30
    days on market $179,000 Active 100 DOM
15. 2026-04-20
    price $179,000
16. 2026-04-14
    price $179,995
17. 2026-02-19
    listed $199,995 Active
18. 2024-03-25
    historical
19. 2024-03-05
    status Active
20. 2024-02-29
    historical
21. 2023-11-28
    listed $169,900 Active
22. 2023-11-07
    historical
23. 2023-08-31
    status Active
24. 2023-08-30
    historical
25. 2023-07-05
    price $175,000
26. 2023-07-05
    status Active
27. 2023-06-30
    historical
28. 2023-06-23
    status Active
29. 2023-06-11
    status Pending
30. 2023-03-21
    listed $179,900 Active
31. 2023-03-14
    historical
32. 2022-08-21
    price $1,050
33. 2022-07-15
    price $1,050
34. 2007-01-31
    soldstatus $65,000
35. 2007-01-04
    historical
36. 2006-09-18
    listed $79,000
37. 1998-08-28
    soldstatus $53,000
38. 1996-05-22
    soldstatus $34,500
39. 1995-08-08
    listed $39,900

ⓘ 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: $1,722 · $143/mo
• Projected year-2 tax: $1,722 · $143/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 2% 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: $19,389
• − Mortgage interest: −$10,027
• − Property taxes: −$1,722
• − Insurance: −$895
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$5,207
• Taxable loss: −$1,564
• Est. tax savings @ 24.0%: +$375
• After-tax cash flow: $1,812/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

+348.6% since first listed

25 events — show timeline

• 2026-04-20 Price Changed $179,000 BRIGHT MLS
• 2026-04-14 Price Changed $179,995 BRIGHT MLS
• 2026-02-19 Listed $199,995 BRIGHT MLS
• 2024-03-25 Listing Removed — BRIGHT MLS
• 2024-03-05 Relisted — BRIGHT MLS
• 2024-02-29 Listing Removed — BRIGHT MLS
• 2023-11-28 Listed $169,900 BRIGHT MLS
• 2023-11-07 Listing Removed — BRIGHT MLS
• 2023-08-31 Relisted — BRIGHT MLS
• 2023-08-30 Listing Removed — BRIGHT MLS
• 2023-07-05 Price Changed $175,000 BRIGHT MLS
• 2023-07-05 Relisted — BRIGHT MLS
• 2023-06-30 Listing Removed — BRIGHT MLS
• 2023-06-23 Relisted — BRIGHT MLS
• 2023-06-11 Pending — BRIGHT MLS
• 2023-03-21 Listed $179,900 BRIGHT MLS
• 2023-03-14 Coming Soon — BRIGHT MLS
• 2022-08-21 Price Changed $1,050 RENT.
• 2022-07-15 Price Changed $1,050 RENT.
• 2007-01-31 Sold (MLS) $65,000 MRIS
• 2007-01-04 Delisted — MRIS
• 2006-09-18 Listed $79,000 MRIS
• 1998-08-28 Sold (Public Records) $53,000 Public Records
• 1996-05-22 Sold (MLS) $34,500 MRIS
• 1995-08-08 Listed $39,900 MRIS

Property tax history

+0.9%/yr

Latest (2025): $1,722 · +3.0% YoY. Source: county tax records.