1114 Circle Dr · Martinsburg, WV 25401

$225,000

3 bd · 1.0 ba · 1,549 sqft · SingleFamily public records · 88 Days on market

Built 1956 9,361 sqft lot Est $268k · 16% under

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Why this score? — see what drove the D+ 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).

• ARV discount +14.7/15.0
• Cash flow +13.0/30.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming ranch-style home is ready for new owners! Great location and a lot to offer here! This home is sitting near the end of a cul-de-sac on a private street. Fresh paint, new roof, new central air conditioner, new furnace/air handler; this home is well cared for! Upstairs offers 3 bedrooms, 1 bathroom, eat in kitchen with new flooring and a living room. Beautiful hardwood floors through the living spaces. Basement has a nice finished space currently used a rec room and would be great 2nd living room. Large lot with fenced yard for the dogs! Wood burning stove in basement can heat the entire house.

Key facts

• Large family room
• Wood stove
• Covered patio

Tags

• ESTABLISHED NEIGHBORHOOD
• WALKING DISTANCE TO PARKS
• WALKING DISTANCE TO SCHOOLS
• LARGE FAMILY ROOM
• WOOD STOVE
• COVERED PATIO

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Attached carport (1 space); Driveway parking; Total of 1 garage/parking space reported
• Utilities: Public water; Public sewer; Electric service (cooling fuel and hot water); Oil for heating
• Home design: Detached single-family residence; Above-grade finished area of 1,549 sq. ft. (assessor); Below-grade finished area of 624 sq. ft. (assessor)
• Construction: Brick construction; Block foundation
• Exterior features: Property is detached; Tidal water not present

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: 90% forced air heating (oil-fired); Central air conditioning (electric); Electric hot water
• Interior features: Partially finished, improved basement with connecting stairway

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-11 ($-135/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (21.8% below list).
• Recommended offer: $176k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 (+1.1%/yr); 66 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).
• This rent runs 41% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 88 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 30y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $146k; list at $225k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $176,046 (21.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $267,977
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 S Kentucky Ave	0.32mi	3/1.5	1,580 (+2%)	3mo	$140,000	$89	78
711 Snapp St	0.17mi	3/2.5	1,391 (-10%)	4mo	$320,000	$230	66
308 S Illinois Ave	0.26mi	4/2.0 (+1)	1,652 (+7%)	7mo	$237,500	$144	62
827 Maryland Ave	0.41mi	4/1.0 (+1)	1,450 (-6%)	7mo	$224,900	$155	60
820 New York Ave	0.47mi	3/2.5	1,476 (-5%)	10mo	$255,000	$173	56
1009 West Virginia Ave	0.61mi	3/2.0	1,492 (-4%)	8mo	$269,900	$181	55
107 N Delaware Ave	0.58mi	3/2.0	1,658 (+7%)	9mo	$325,000	$196	50
409 S Raleigh St	0.59mi	3/2.0	1,702 (+10%)	3mo	$211,000	$124	50
204 S Alabama Ave	0.36mi	3/2.5	1,356 (-12%)	9mo	$272,500	$201	49
641 S Raleigh St	0.59mi	3/1.5	1,764 (+14%)	4mo	$243,000	$138	44
706 W King St	0.50mi	4/2.0 (+1)	1,762 (+14%)	1mo	$144,200	$82	44
1003 S Raleigh St	0.70mi	3/2.0	1,360 (-12%)	8mo	$255,000	$188	36

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 · 1.11% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-40,527
• Equity at exit: $33,548

10-year hold

• IRR: -14.9%
• Equity multiple: 0.21×
• Total profit: $-49,466
• Equity at exit: $19,454

Cash invested: $63,000 (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 25401

• Home prices YoY: -14.1%
• Rents YoY: 1.1%
• Active inventory: 66
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$128 /mo · $1,540/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $-11

Break-even live

Break-even rent $1,775

Max offer price $223,019

Occupancy floor 96%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 S Tennessee Ave Martinsburg, WV	3.0	2.0	1880	$2,000	$1.06	21d	1	0.18mi
653 Faulkner Ave Martinsburg, WV	3.0	1.5	1442	$1,450	$1.01	21d	1	0.36mi
620 W Virginia Ave Martinsburg, WV	3.0	1.0	1200	$1,555	$1.30	13d	1	0.47mi
600 W John St Martinsburg, WV	1.0–2.0	1.0–2.0	976	$2,026	$2.08	13d	14	0.49mi
226 N Raleigh St Martinsburg, WV	3.0	1.0	1200	$1,450	$1.21	21d	1	0.80mi
215 W King St Apt B Martinsburg, WV	2.0	2.0	1192	$1,690	$1.42	21d	1	0.80mi
15000 Hood Cir Martinsburg, WV	2.0–3.0	2.0	1206	$1,885	$1.56	13d	9	0.82mi
589 Berkeley Cir Martinsburg, WV	2.0	2.0	1160	$1,970	$1.70	12d	1	0.92mi
2615 Delmar Orchard Rd Martinsburg, WV	2.0	2.0	1532	$1,900	$1.24	21d	1	0.93mi
218 N College St Martinsburg, WV	3.0	1.0	1200	$1,330	$1.11	21d	1	0.95mi
328 Boyd Ave Martinsburg, WV	3.0	2.0	1700	$1,450	$0.85	21d	1	0.95mi
116 S High St Martinsburg, WV	2.0	1.0	1200	$1,280	$1.07	13d	1	1.23mi
153 Priority Dr Martinsburg, WV	1.0–3.0	1.0–2.0	995	$1,810	$1.82	2d	7	1.23mi
316 N High St Martinsburg, WV	3.0	1.5	1300	$1,650	$1.27	13d	1	1.32mi
505 Fontana Cir Martinsburg, WV	3.0	3.5	1617	$2,200	$1.36	13d	1	1.33mi
519 Fontana Cir Martinsburg, WV	3.0	3.5	1617	$2,300	$1.42	13d	1	1.33mi
501 Fontana Cir Martinsburg, WV	3.0	2.5	1617	$2,100	$1.30	13d	1	1.33mi
808 Marquette Dr Martinsburg, WV	3.0	2.5	1299	$1,730	$1.33	21d	1	1.42mi
721 2nd St Unit A Martinsburg, WV	2.0	1.0	1412	$1,180	$0.84	13d	1	1.45mi

Listing history 39 events

1. 2026-06-18
   days on market $225,000 Active 88 DOM
2. 2026-06-17
   days on market $225,000 Active 87 DOM
3. 2026-06-16
   days on market $225,000 Active 86 DOM
4. 2026-06-15
   days on market $225,000 Active 85 DOM
5. 2026-06-14
   days on market $225,000 Active 83 DOM
6. 2026-06-13
   days on market $225,000 Active 82 DOM
7. 2026-06-10
   days on market $225,000 Active 80 DOM
8. 2026-06-09
   pricedays on market $225,000 Active 79 DOM
9. 2026-06-08
   days on market $240,000 Active 78 DOM
10. 2026-06-07
    days on market $240,000 Active 77 DOM
11. 2026-06-02
    days on market $240,000 Active 72 DOM
12. 2026-06-01
    pricedays on market $240,000 Active 71 DOM
13. 2026-05-31
    days on market $245,000 Active 70 DOM
14. 2026-05-30
    days on market $245,000 Active 69 DOM
15. 2026-05-18
    price $245,000
16. 2026-05-07
    status Active
17. 2026-04-30
    historical Active Under Contract
18. 2026-04-10
    status Active
19. 2026-04-08
    historical Active Under Contract
20. 2026-03-27
    price $250,000
21. 2026-03-13
    listed $265,000 Active
22. 2019-03-22
    soldstatus $145,500
23. 2019-03-21
    soldstatus $145,500 Closed 617-char remark

    Show marketing remark (617 chars)

    This charming ranch-style home is ready for new owners! Great location and a lot to offer here! This home is sitting near the end of a cul-de-sac on a private street. Fresh paint, new roof, new central air conditioner, new furnace/air handler; this home is well cared for! Upstairs offers 3 bedrooms, 1 bathroom, eat in kitchen with new flooring and a living room. Beautiful hardwood floors through the living spaces. Basement has a nice finished space currently used a rec room and would be great 2nd living room. Large lot with fenced yard for the dogs! Wood burning stove in basement can heat the entire house.

24. 2019-02-02
    historical Active Under Contract 617-char remark

    Show marketing remark (617 chars)

    This charming ranch-style home is ready for new owners! Great location and a lot to offer here! This home is sitting near the end of a cul-de-sac on a private street. Fresh paint, new roof, new central air conditioner, new furnace/air handler; this home is well cared for! Upstairs offers 3 bedrooms, 1 bathroom, eat in kitchen with new flooring and a living room. Beautiful hardwood floors through the living spaces. Basement has a nice finished space currently used a rec room and would be great 2nd living room. Large lot with fenced yard for the dogs! Wood burning stove in basement can heat the entire house.

25. 2019-01-06
    listed $149,900 Active 617-char remark

    Show marketing remark (617 chars)

    This charming ranch-style home is ready for new owners! Great location and a lot to offer here! This home is sitting near the end of a cul-de-sac on a private street. Fresh paint, new roof, new central air conditioner, new furnace/air handler; this home is well cared for! Upstairs offers 3 bedrooms, 1 bathroom, eat in kitchen with new flooring and a living room. Beautiful hardwood floors through the living spaces. Basement has a nice finished space currently used a rec room and would be great 2nd living room. Large lot with fenced yard for the dogs! Wood burning stove in basement can heat the entire house.

26. 2010-06-17
    historical
27. 2010-06-16
    historical Temporarily Off-Market
28. 2010-06-15
    status Contract
29. 2010-04-14
    price
30. 2009-10-14
    price
31. 2009-08-03
    listed Active
32. 2009-08-02
    listed $135,000
33. 2007-06-29
    historical
34. 2007-06-11
    listed
35. 2006-06-28
    historical
36. 2006-06-13
    listed
37. 1996-06-19
    soldstatus $86,900
38. 1996-06-17
    soldstatus $86,900
39. 1996-04-24
    listed $87,900

ⓘ 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: $1,540 · $128/mo
• Projected year-2 tax: $1,540 · $128/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: $21,126
• − Mortgage interest: −$12,603
• − Property taxes: −$1,540
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$6,545
• Taxable loss: −$4,068
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $842/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): 14,979
• Household income: $51,909
• Rent vs Own: 47.4% rent · 52.6% own
• Severe rent burden: 670.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 14% Black 12% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 6% Other Asian/Pacific 1%

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: ▼ -37.63%
• Current HPI: 229.6691
• Rent YoY: ▲ 1.11%
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

+178.7% since first listed

25 events — show timeline

• 2026-05-18 Price Changed $245,000 BRIGHT MLS
• 2026-05-07 Relisted — BRIGHT MLS
• 2026-04-30 Contingent — BRIGHT MLS
• 2026-04-10 Relisted — BRIGHT MLS
• 2026-04-08 Contingent — BRIGHT MLS
• 2026-03-27 Price Changed $250,000 BRIGHT MLS
• 2026-03-13 Listed $265,000 BRIGHT MLS
• 2019-03-22 Sold (Public Records) $145,500 Public Records
• 2019-03-21 Sold (MLS) $145,500 BRIGHT MLS
• 2019-02-02 Contingent — BRIGHT MLS
• 2019-01-06 Listed $149,900 BRIGHT MLS
• 2010-06-17 Listing Removed — BRIGHT MLS
• 2010-06-16 Delisted — MRIS
• 2010-06-15 Pending — MRIS
• 2010-04-14 Price Changed — MRIS
• 2009-10-14 Price Changed — MRIS
• 2009-08-03 Listed — MRIS
• 2009-08-02 Listed $135,000 BRIGHT MLS
• 2007-06-29 Delisted — MRIS
• 2007-06-11 Listed — MRIS
• 2006-06-28 Delisted — MRIS
• 2006-06-13 Listed — MRIS
• 1996-06-19 Sold (Public Records) $86,900 Public Records
• 1996-06-17 Sold (MLS) $86,900 MRIS
• 1996-04-24 Listed $87,900 MRIS

Property tax history

+2.1%/yr

Latest (2025): $1,540 · +0.6% YoY. Source: county tax records.