23 Mississippi Pt · Falling Waters, WV 25419

$270,000

3 bd · 2.5 ba · 1,680 sqft · Townhouse public records · 138 Days on market

Built 2013 2,613 sqft lot Est $301k · 10% under $50/mo HOA · 2% of rent ↓ 4% since listing

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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).

• Cash flow +13.8/30.0
• ARV discount +12.1/15.0
• DSCR +4.2/10.0
• Livability +3.3/5.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Imagine living just a short walk from the Potomac River with access to boating, trails, and open green spaces—this Falling Waters gem in the highly sought after Brookfield community offers it all! Step inside to a bright, open floor plan filled with natural light. The spacious family room flows seamlessly into the oversized kitchen, featuring a large island with breakfast bar, abundant counter space, and a big pantry—perfect for entertaining or everyday life. Upstairs, the primary suite is your private retreat with a walk-in closet and spa-like bath complete with soaking tub and separate shower. Two additional bedrooms are generously sized, and the upper-level laundry room add

Key facts

• $50 HOA
• 2 parking spots
• Built 2013

Property features AI

Finance

• Other: Assessor listed finished above-grade area; No basement
• HOA & community: Monthly HOA fee ($50) covering common area maintenance; Community amenities include water/lake privileges, dog park, basketball courts, jogging/walking path, common grounds, tot lots/playground, volleyball courts, and picnic area

Exterior

• Parking: Assigned parking in parking lot (2 spaces)
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Excellent condition
• Construction: Vinyl siding; Slab foundation
• Exterior features: Rear yard; Rear fencing; Water access; water-oriented property on a river

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Oven/Range - Electric; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms on upper level (Master Bedroom, Bedroom 2, Bedroom 3)
• Flooring: Luxury vinyl plank; Carpet
• Bathrooms: 2 full bathrooms (upper level); 1 half bathroom (main level)
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Open floor plan; Combination kitchen/dining; Dining area; Family room off kitchen; Kitchen island; Kitchen eat-in/table space; Pantry; Master bath(s); Soaking tub; Stall shower; Tub/shower; Recessed lighting; Walk-in closet(s); Window treatments
• Laundry & utility: Washer in unit; Dryer in unit; Laundry located on upper floor; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $24 ($287/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 $215k (20.3% below list).
• Recommended offer: $215k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Falling Waters — 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 66/100 on livability (#116 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• 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: 115 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k 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 138 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,109 (20.3% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 20% 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. 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. 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?
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: 0.80% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $300,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Erie Pl	0.06mi	3/2.5	1,440 (-14%)	2mo	$262,000	$182	72
203 Charterhouse St	0.49mi	3/2.5	1,736 (+3%)	1mo	$295,000	$170	71
36 Tuxford Rd	0.59mi	3/2.5	1,735 (+3%)	1mo	$295,000	$170	66
47 Tuxford Rd	0.57mi	3/2.5	1,735 (+3%)	11mo	$284,600	$164	59
19 Clifton Mnr	0.68mi	3/3.5	1,571 (-6%)	3mo	$292,000	$186	51
259 Clifton Mnr	0.61mi	3/3.5	1,595 (-5%)	11mo	$287,396	$180	50
267 Clifton Mnr	0.63mi	3/3.5	1,571 (-6%)	10mo	$281,613	$179	48
262 Clifton Mnr	0.70mi	3/3.5	1,571 (-6%)	10mo	$278,938	$178	44
251 Clifton Mnr	0.69mi	3/3.5	1,571 (-6%)	11mo	$290,608	$185	44
270 Clifton Mnr	0.72mi	3/3.5	1,571 (-6%)	10mo	$282,886	$180	43
242 Clifton Mnr	0.62mi	3/3.5	1,858 (+11%)	10mo	$309,839	$167	41
266 Clifton Mnr	0.71mi	3/3.5	1,883 (+12%)	10mo	$312,903	$166	34

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-42,315
• Equity at exit: $40,258

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-35,231
• Equity at exit: $23,345

Cash invested: $75,600 (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 25419

• Home prices YoY: -13.1%
• Active inventory: 115
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$112
• HOA: −$50
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $24

Break-even live

Break-even rent $2,121

Max offer price $270,000

Occupancy floor 94%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 Savage Ct Falling Waters, WV	3.0	4.0	2112	$2,030	$0.96	20d	1	0.31mi
21 Stafford Pl Falling Waters, WV	3.0	2.5	2008	$2,300	$1.15	20d	1	0.55mi
120 Tuxford Rd FALLING WTRS, WV	3.0	2.5	2042	$2,000	$0.98	13d	1	0.61mi
100 Stafford Pl Falling Waters, WV	3.0	2.5	2008	$2,350	$1.17	20d	1	0.63mi
88 Mossdale Blvd Falling Waters, WV	4.0	3.5	1650	$2,050	$1.24	13d	1	0.63mi
104 Cramsford St Falling Waters, WV	3.0	2.5	1512	$2,100	$1.39	20d	1	1.18mi
73 Cramsford St Falling Waters, WV	3.0	2.5	1512	$1,800	$1.19	13d	1	1.21mi
71 Bloomsbury St Falling Waters, WV	3.0	2.5	1512	$1,750	$1.16	20d	1	1.24mi
15 Bloomsbury St Falling Waters, WV	3.0	2.5	1443	$1,750	$1.21	20d	1	1.29mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: water

Listing history 15 events

1. 2026-06-16
   days on market $270,000 Active 138 DOM
2. 2026-06-15
   days on market $270,000 Active 137 DOM
3. 2026-06-14
   days on market $270,000 Active 135 DOM
4. 2026-06-13
   days on market $270,000 Active 134 DOM
5. 2026-06-10
   days on market $270,000 Active 132 DOM
6. 2026-06-09
   days on market $270,000 Active 131 DOM
7. 2026-06-08
   days on market $270,000 Active 130 DOM
8. 2026-06-07
   days on market $270,000 Active 129 DOM
9. 2026-06-02
   days on market $270,000 Active 124 DOM
10. 2026-06-01
    days on market $270,000 Active 123 DOM
11. 2026-05-31
    days on market $270,000 Active 122 DOM
12. 2026-05-30
    days on market $270,000 Active 121 DOM
13. 2026-03-31
    price $270,000
14. 2026-01-30
    listed $280,000 Active
15. 2026-01-24
    historical $280,000

ⓘ 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: $1,165 · $97/mo
• Projected year-2 tax: $1,593 · $133/mo
• Expected delta: +$428/yr (+$36/mo · 36.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,813
• − Mortgage interest: −$15,124
• − Property taxes: −$1,165
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − HOA: −$600
• − Depreciation: −$7,855
• Taxable loss: −$4,410
• Est. tax savings @ 24.0%: +$1,059
• After-tax cash flow: $1,345/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: 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 — Falling Waters

• Score: 66/100
• State rank: #116
• US rank: #12314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berkeley County · 85,235 people
• City population: 13,201
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 13,201
• Household income: $89,284
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 142.0

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 (83%)
• Race & ethnicity: White 83% Black 10% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Serbian 3% Lithuanian 2%
• Foreign-born: 3%
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% 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: ▼ -27.84%
• Current HPI: 184.0467
• Rent YoY: —
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

-3.6% since first listed

3 events — show timeline

• 2026-03-31 Price Changed $270,000 BRIGHT MLS
• 2026-01-30 Listed $280,000 BRIGHT MLS
• 2026-01-24 Coming Soon $280,000 BRIGHT MLS

Property tax history

+1.9%/yr

Latest (2025): $1,165 · +6.6% YoY. Source: county tax records.