56 Baneberry Ln Unit C · Terra Alta, WV 26764

$134,900

3 bd · 2.0 ba · 896 sqft · Condo public records · 178 Days on market

Built 1983 $221/mo HOA · 12% of rent

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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 +26.3/30.0
• 1% rule +9.1/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Whether you're looking for an affordable full-time home, a simple second-home getaway, or a place with vacation rental potential, this 2-bedroom, 1.5-bath townhouse in Alpine Lake Resort is an excellent option. Just a few hours from Pittsburgh, PA, and Washington, DC, it’s an easy mountain escape without the long drive. Located in a quiet, wooded section of the resort, this home features an open layout with large windows overlooking the second fairway. Upstairs, both bedrooms share a full bath, and there's a convenient half bath on the main level. Enjoy your morning coffee or unwind in the evenings on the private deck with peaceful wooded and golf views. Alpine Lake Resort offers a st

Key facts

• Large windows
• Private deck
• Golf views

Tags

• OPEN LAYOUT
• LARGE WINDOWS
• PRIVATE DECK
• WOODED VIEWS
• GOLF VIEWS
• BOATHOUSE

Property features AI

Finance

• Other: Located in Alpine Lake Resort subdivision
• HOA & community: Homeowners association with annual fee; Association fee $2,650 per year (about $220.83/month); Community clubhouse; Community pool; Community golf

Exterior

• Parking: No parking specified
• Security: Gated community
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential townhouse; Townhouse property type
• Construction: Frame construction; Vinyl siding
• Exterior features: Patio; Porch; Level lot; Wooded lot

Interior

• Kitchen: Dishwasher; Refrigerator; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating
• Interior features: Dishwasher; Refrigerator; Range; Unfinished basement; Has view; Pets allowed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.7% in Terra Alta — 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 61/100 on livability (#196 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Preston County Schools (rural): math 22% / reading 33% proficiency, ranked #39 of 55 in WV (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Terra Alta/East Preston School (math 20% / reading 29%, grade F, #287 of 377 statewide, top 85%, 310 students, 0% FRL); Preston High School (math 10% / reading 32%, grade F, #100 of 110 statewide, top 91%, 1,178 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 97 active listings in the ZIP; 2 units permitted in Preston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($933 loan paydown + $2k appreciation (1.7% local appreciation)).
• Preston County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.01%
• DSCR: 1.49
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.78×
• Total profit: $29,455
• Equity at exit: $51,040

10-year hold

• IRR: 17.6%
• Equity multiple: 3.28×
• Total profit: $86,025
• Equity at exit: $71,869

Cash invested: $37,772 (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 26764

• Home prices YoY: 0.6%
• Active inventory: 97
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,899 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$221
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $347

Break-even live

Break-even rent $1,460

Max offer price $134,900

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $221 · $2,652/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-05-31
   days on market $134,900 Active 178 DOM
2. 2026-05-30
   days on market $134,900 Active 177 DOM
3. 2026-04-28
   price $134,900
4. 2026-02-25
   price $139,000
5. 2025-12-04
   listed $144,900 Active
6. 2025-11-06
   price $137,000
7. 2025-09-05
   price $139,900
8. 2025-08-21
   price $142,900
9. 2025-07-21
   price $144,900
10. 2025-07-07
    price $145,900
11. 2024-07-11
    price $144,900
12. 2023-04-25
    soldstatus $129,000
13. 2023-04-24
    soldstatus $129,000
14. 2023-03-03
    listed $129,000
15. 2020-08-14
    soldstatus $65,500
16. 2020-08-12
    soldstatus $65,500
17. 2020-03-08
    listed $69,900
18. 2019-06-27
    soldstatus $59,500
19. 2019-05-30
    soldstatus $59,500
20. 2018-05-04
    listed $65,500
21. 2015-01-19
    soldstatus $55,000
22. 2014-10-24
    listed $65,000
23. 1994-04-06
    soldstatus $30,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,784
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − HOA: −$2,652
• − Depreciation: −$3,924
• Taxable income: $2,307
• Est. tax owed @ 24.0%: −$554
• After-tax cash flow: $3,606/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: Preston County Schools
• NCES district ID: 5401170
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $43,997
• Composite: 23.51/100
• National rank: #7869
• State rank: #39 of 55 in WV

Livability — Terra Alta

• Score: 61/100
• State rank: #196
• US rank: #17622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,349

Population outlook (Preston County) Hauer SSP2

• Today (2025): 33,786 people
• By 2030: 33,618 · -0.5%
• By 2040: 32,953 · -2.5%
• By 2050: 32,131 · -4.9%
• By 2075: 30,774 · -8.9%
• By 2100: 27,037 · -20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Preston

• 2024 margin: Solid R (+57.0) · D 20.5% · R 77.5% · Other 2.1%
• 2008→2024 swing: -30.5pp toward R · 2008: -26.5pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+55.1 2016: R+55.8 2012: R+44.4 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.70%
• Current HPI: 294.2344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+349.7% since first listed

21 events — show timeline

• 2026-04-28 Price Changed $134,900 NCWVREIN
• 2026-02-25 Price Changed $139,000 NCWVREIN
• 2025-12-04 Listed $144,900 NCWVREIN
• 2025-11-06 Price Changed $137,000 NCWVREIN
• 2025-09-05 Price Changed $139,900 NCWVREIN
• 2025-08-21 Price Changed $142,900 NCWVREIN
• 2025-07-21 Price Changed $144,900 NCWVREIN
• 2025-07-07 Price Changed $145,900 NCWVREIN
• 2024-07-11 Price Changed $144,900 NCWVREIN
• 2023-04-25 Sold (Public Records) $129,000 Public Records
• 2023-04-24 Sold (MLS) $129,000 NCWVREIN
• 2023-03-03 Listed $129,000 NCWVREIN
• 2020-08-14 Sold (Public Records) $65,500 Public Records
• 2020-08-12 Sold (MLS) $65,500 NCWVREIN
• 2020-03-08 Listed $69,900 NCWVREIN
• 2019-06-27 Sold (Public Records) $59,500 Public Records
• 2019-05-30 Sold (MLS) $59,500 NCWVREIN
• 2018-05-04 Listed $65,500 NCWVREIN
• 2015-01-19 Sold (MLS) $55,000 NCWVREIN
• 2014-10-24 Listed $65,000 NCWVREIN
• 1994-04-06 Sold (Public Records) $30,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $137 · -5.8% YoY. Source: county tax records.