194 Flying Dove Ln E · Hedgesville, WV 25427

$149,900

3 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 220 Days on market

Built 1994 1.15 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well maintained doublewide 3 BR, 2 BA on 1+ Hedgesville country acres at a great price.

Key facts

• Permanent foundation
• Spacious lot
• Over an acre

Tags

• OVER AN ACRE
• PERMANENT FOUNDATION
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.2% in Hedgesville — 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 67/100 on livability (#88 in WV) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety 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: 96 active listings in the ZIP; solid renter incomes; 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $60k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $336,960
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12493 Back Creek Valley Rd	0.39mi	3/2.0	1,620 (+4%)	2mo	$350,000	$216	74
72 Navajo Ln	0.08mi	2/1.0 (-1)	1,344 (-14%)	22mo	$235,000	$175	46

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 3.87×
• Total profit: $120,549
• Equity at exit: $135,042

10-year hold

• IRR: 32.1%
• Equity multiple: 8.73×
• Total profit: $324,418
• Equity at exit: $291,223

Cash invested: $41,972 (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 25427

• Home prices YoY: 5.6%
• Active inventory: 96
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$148 /mo · $1,776/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $611

Break-even live

Break-even rent $1,261

Max offer price $149,900

Occupancy floor 65%

Sensitivity live

Price	-10% $696	-5% $653	+0% $611	+5% $568	+10% $526
Rent	-10% $450	-5% $530	+0% $611	+5% $691	+10% $772
Rate	-1.0pp $686	-0.5pp $649	base $611	+0.5pp $572	+1.0pp $532

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-03-03
   status Pending
2. 2026-02-20
   price $149,900
3. 2026-01-22
   price $154,900
4. 2025-12-22
   price $164,900
5. 2025-11-28
   price $172,900
6. 2025-10-30
   price $174,900
7. 2025-10-03
   price $189,900
8. 2025-09-09
   price $199,900
9. 2025-07-26
   listed $209,900 Active
10. 2005-11-30
    soldstatus $141,700 87-char remark

    Show marketing remark (87 chars)

    Well maintained doublewide 3 BR, 2 BA on 1+ Hedgesville country acres at a great price.

11. 2005-10-19
    historical 87-char remark

    Show marketing remark (87 chars)

    Well maintained doublewide 3 BR, 2 BA on 1+ Hedgesville country acres at a great price.

12. 2005-07-18
    listed $139,000 87-char remark

    Show marketing remark (87 chars)

    Well maintained doublewide 3 BR, 2 BA on 1+ Hedgesville country acres at a great price.

ⓘ 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: $1,776 · $148/mo
• Projected year-2 tax: $1,776 · $148/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 17 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: $24,415
• − Mortgage interest: −$8,397
• − Property taxes: −$1,776
• − Insurance: −$750
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$4,361
• Taxable income: $5,226
• Est. tax owed @ 24.0%: −$1,254
• After-tax cash flow: $6,076/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 — Hedgesville

• Score: 67/100
• State rank: #88
• US rank: #10335

Category grades

Amenities F Commute F Cost of living A+ Crime B+ 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: 16,595
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 16,595
• Household income: $87,184
• Rent vs Own: 11.6% rent · 88.4% own
• Severe rent burden: 120.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 1% · Canada

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: ▲ 14.42%
• Current HPI: 270.4542
• Rent YoY: —
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

+7.8% since first listed

12 events — show timeline

• 2026-03-03 Pending — BRIGHT MLS
• 2026-02-20 Price Changed $149,900 BRIGHT MLS
• 2026-01-22 Price Changed $154,900 BRIGHT MLS
• 2025-12-22 Price Changed $164,900 BRIGHT MLS
• 2025-11-28 Price Changed $172,900 BRIGHT MLS
• 2025-10-30 Price Changed $174,900 BRIGHT MLS
• 2025-10-03 Price Changed $189,900 BRIGHT MLS
• 2025-09-09 Price Changed $199,900 BRIGHT MLS
• 2025-07-26 Listed $209,900 BRIGHT MLS
• 2005-11-30 Sold (MLS) $141,700 MRIS
• 2005-10-19 Delisted — MRIS
• 2005-07-18 Listed $139,000 MRIS

Property tax history

+7.5%/yr

Latest (2025): $1,776 · +100.3% YoY. Source: county tax records.