28 E Central Ave · Ridgeley, WV 26753

$99,500

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 37 Days on market

Built 1945 5,000 sqft lot Est $87k · 14% over

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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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Appreciation +5.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0

Listing remarks

Affordable Ridgeley opportunity with flexibility! This three bedroom, one bath, two-story home offers a classic covered front porch, metal roof, and a spacious yard. It’s in livable condition and could be moved into now while you make updates over time—just needs a few minor fixes and your personal touch. Great option for a first-time buyer, investor, or anyone looking for value with upside in a convenient in-town location. Don't miss this one! Property is being sold As Is.

Key facts

• Covered front porch
• Spacious yard
• Metal roof

Tags

• COVERED FRONT PORCH
• METAL ROOF
• SPACIOUS YARD
• IN-TOWN LOCATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Natural gas available for heating; Electric hot water; Public water; Public sewer
• Home design: Detached property; Fee simple ownership
• Construction: Frame construction; Block foundation; Estimated year built
• Exterior features: Not in a federal flood zone; Located within city limits; Above-grade other structures

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: 90% forced air heating; Heat pump(s)
• Interior features: Full basement; Estimated living area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#28 in WV, #4,047 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute C-, amenities D, schools F.
• Mineral County Schools (rural): math 26% / reading 34% proficiency, ranked #32 of 55 in WV (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 64 units permitted in Mineral County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($688 loan paydown + $769 appreciation (0.8% local appreciation)).
• Mineral County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($97k) 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.
• Current owner paid $49k; list at $100k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1945 — 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 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?
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: 1.18% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $87,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Knobley St	0.10mi	4/1.5 (+1)	1,344 (+8%)	1mo	$108,000	$80	75
880 Maryland Ave	0.46mi	2/1.0 (-1)	1,200 (-4%)	3mo	$84,500	$70	64
6 Race St	0.58mi	3/1.0	1,280 (+3%)	5mo	$10,000	$8	64
129 Race St	0.64mi	3/1.0	1,330 (+7%)	2mo	$90,400	$68	58
118 Oak St	0.40mi	2/1.5 (-1)	1,377 (+10%)	1mo	$155,000	$113	56
15 W Second St	0.52mi	2/1.0 (-1)	1,152 (-8%)	5mo	$12,500	$11	54
920 Maryland Ave	0.44mi	3/1.0	1,408 (+13%)	7mo	$46,350	$33	53
504 Prince George St	0.64mi	3/1.5	1,152 (-8%)	6mo	$252,600	$219	50
511 Patterson Ave	0.54mi	3/1.0	1,422 (+14%)	4mo	$175,000	$123	49
135 W Third St	0.53mi	3/1.0	1,428 (+14%)	6mo	$95,000	$67	46
319 Race St	0.72mi	2/1.5 (-1)	1,176 (-6%)	8mo	$40,000	$34	43
407 Caroline St	0.58mi	3/2.5	1,432 (+15%)	5mo	$214,900	$150	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.76×
• Total profit: $21,167
• Equity at exit: $32,799

10-year hold

• IRR: 18.8%
• Equity multiple: 3.22×
• Total profit: $61,963
• Equity at exit: $42,697

Cash invested: $27,860 (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 26753

• Home prices YoY: 0.3%
• Active inventory: 49
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$522
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $321

Break-even live

Break-even rent $768

Max offer price $99,500

Occupancy floor 68%

Sensitivity live

Price	-10% $377	-5% $349	+0% $321	+5% $293	+10% $265
Rent	-10% $228	-5% $275	+0% $321	+5% $367	+10% $414
Rate	-1.0pp $371	-0.5pp $346	base $321	+0.5pp $295	+1.0pp $269

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Grand Ave Cumberland, MD	3.0	2.0	1444	$1,300	$0.90	45d	1	0.59mi
201 Spring St Cumberland, MD	3.0	1.0	1332	$950	$0.71	45d	1	0.67mi
415 Grand Ave Cumberland, MD	3.0	1.0	1325	$1,250	$0.94	45d	1	0.73mi
418 N Mechanic St Unit 1B Cumberland, MD	2.0	1.0	1000	$1,195	$1.20	45d	1	0.90mi
418 N Mechanic St Unit 1C Cumberland, MD	3.0	1.0	1500	$1,295	$0.86	45d	1	0.90mi
118 Independence St Cumberland, MD	3.0	1.5	1260	$1,250	$0.99	45d	1	1.01mi
529 N Centre St Unit Rear Cumberland, MD	2.0	1.0	982	$850	$0.87	45d	1	1.05mi
423 Furnace St Cumberland, MD	3.0	1.5	1440	$1,250	$0.87	45d	1	1.24mi
516 Bedford St Cumberland, MD	3.0	1.5	1500	$1,195	$0.80	45d	1	1.24mi

Listing history 8 events

1. 2026-06-12
   statusdays on market $99,500 Pending 37 DOM
2. 2026-06-09
   days on market $99,500 Active 36 DOM
3. 2026-06-08
   days on market $99,500 Active 35 DOM
4. 2026-06-07
   days on market $99,500 Active 34 DOM
5. 2026-06-03
   days on market $99,500 Active 30 DOM
6. 2026-06-02
   days on market $99,500 Active 29 DOM
7. 2026-06-01
   remarks 479-char remark
8. 2026-06-01
   listed $99,500 Active 28 DOM

ⓘ 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: $519 · $43/mo
• Projected year-2 tax: $587 · $49/mo
• Expected delta: +$68/yr (+$6/mo · 13.1%)

ⓘ 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 8 d/yr ≥103°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: $14,087
• − Mortgage interest: −$5,574
• − Property taxes: −$519
• − Insurance: −$498
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,895
• Taxable income: $2,348
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $3,287/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: Mineral County Schools
• NCES district ID: 5400870
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $36,161
• Composite: 24.85/100
• National rank: #7590
• State rank: #32 of 55 in WV

Livability — Ridgeley

• Score: 75/100
• State rank: #28
• US rank: #4047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ridgeley, WV
• Population (ZIP): 5,858

Population outlook (Mineral County) Hauer SSP2

• Today (2025): 25,357 people
• By 2030: 24,009 · -5.3%
• By 2040: 21,321 · -15.9%
• By 2050: 18,801 · -25.9%
• By 2075: 13,934 · -45.0%
• By 2100: 10,141 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 9% Scottish 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Mineral

• 2024 margin: Solid R (+60.2) · D 19.2% · R 79.4% · Other 1.4%
• 2008→2024 swing: -26.7pp toward R · 2008: -33.5pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+57.3 2016: R+60.8 2012: R+45.0 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.77%
• Current HPI: 231.8437
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+103.1% since first listed

5 events — show timeline

• 2026-06-01 Relisted — BRIGHT MLS
• 2026-02-18 Pending — BRIGHT MLS
• 2026-02-18 Listing Removed — BRIGHT MLS
• 2026-01-21 Listed $99,500 BRIGHT MLS
• 2003-05-23 Sold (Public Records) $49,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $519 · +145.8% YoY. Source: county tax records.