221 Patterson Frk · Salem, WV 26426

$75,000

3 bd · 1.0 ba · 1,215 sqft · SingleFamily · 245 Days on market

Built 1900 1.22 ac lot Est $145k · 48% under ↓ 26% since listing

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Appreciation +6.9/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy living in a country setting yet being close to all amenities including Rt 50 E & W. Well preserved Cape Cod surrounded by a level 1.223 yard for children to enjoy, and pets to run. Includes original hardwood floors and built in's typical to a 1900 cape cod. Numerous possibilities to bring this home to life with updates. Recent survey and legal description will be updated at rime of close. Sold "As Is". All measurements are approx. See agent remarks

Key facts

• Level yard
• Country setting
• Built ins

Tags

• COUNTRY SETTING
• LEVEL YARD
• ORIGINAL HARDWOOD FLOORS
• BUILT INS

Property features AI

Exterior

• Parking: Detached garage (1 garage space); Off-street parking; On-street parking
• Utilities: Public water; Septic tank for sewer; Cable available
• Home design: Single-family detached residence; 2 stories
• Construction: Frame construction with wood siding
• Exterior features: Level lot; Porch; Shingle roof

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: Total of 9 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Ceiling fans for cooling
• Interior features: One fireplace; Porch
• Laundry & utility: Septic tank (on-site wastewater system)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#106 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Harrison County Schools (town): math 29% / reading 43% proficiency, ranked #12 of 55 in WV (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salem Elementary (math 52% / reading 47%, grade D, #49 of 377 statewide, top 16%, 189 students, 0% FRL); Robert C Byrd High School (math 22% / reading 52%, grade F, #32 of 110 statewide, top 34%, 765 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: 12 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $3k appreciation (3.8% local appreciation)).
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.05%
• Cash-on-cash: 16.98%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $144,585
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Wilson Addition Rd	0.30mi	3/1.5	1,320 (+9%)	23mo	$157,000	$119	50

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

Projected returns pro-forma

3.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.49×
• Total profit: $31,191
• Equity at exit: $37,143

10-year hold

• IRR: 25.2%
• Equity multiple: 4.84×
• Total profit: $80,702
• Equity at exit: $60,058

Cash invested: $21,000 (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 26426

• Home prices YoY: 2.2%
• Active inventory: 12
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $297

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 66%

Sensitivity live

Price	-10% $349	-5% $323	+0% $297	+5% $271	+10% $245
Rent	-10% $216	-5% $256	+0% $297	+5% $338	+10% $379
Rate	-1.0pp $335	-0.5pp $316	base $297	+0.5pp $278	+1.0pp $258

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $75,000 Active 245 DOM
2. 2026-06-18
   days on market $75,000 Active 244 DOM
3. 2026-06-17
   days on market $75,000 Active 243 DOM
4. 2026-06-16
   days on market $75,000 Active 242 DOM
5. 2026-06-15
   days on market $75,000 Active 241 DOM
6. 2026-06-14
   days on market $75,000 Active 239 DOM
7. 2026-06-12
   pricedays on market $75,000 Active 238 DOM
8. 2026-06-09
   days on market $95,000 Active 235 DOM
9. 2026-06-08
   days on market $95,000 Active 234 DOM
10. 2026-06-07
    days on market $95,000 Active 233 DOM
11. 2026-06-05
    days on market $95,000 Active 230 DOM
12. 2026-06-03
    days on market $95,000 Active 229 DOM
13. 2026-06-02
    days on market $95,000 Active 228 DOM
14. 2026-06-01
    days on market $95,000 Active 227 DOM
15. 2026-05-31
    days on market $95,000 Active 226 DOM
16. 2026-05-30
    days on market $95,000 Active 225 DOM
17. 2026-03-28
    price $95,000
18. 2025-10-17
    listed $129,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $12,387
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$2,182
• Taxable income: $2,522
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $2,961/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: Harrison County Schools
• NCES district ID: 5400510
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $43,269
• Composite: 30.48/100
• National rank: #6222
• State rank: #12 of 55 in WV

Livability — Salem

• Score: 66/100
• State rank: #106
• US rank: #11585

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,302
• Population (ZIP): 7,302

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 67,273 people
• By 2030: 65,963 · -1.9%
• By 2040: 63,033 · -6.3%
• By 2050: 59,999 · -10.8%
• By 2075: 52,524 · -21.9%
• By 2100: 42,654 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Serbian 3% Romanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+41.0) · D 28.5% · R 69.4% · Other 2.1%
• 2008→2024 swing: -27.6pp toward R · 2008: -13.3pp · 2024: -41.0pp
• All cycles: 2024: R+41.0 2020: R+37.6 2016: R+39.5 2012: R+23.5 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.80%
• Current HPI: 174.3458
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-26.4% since first listed

2 events — show timeline

• 2026-03-28 Price Changed $95,000 NCWVREIN
• 2025-10-17 Listed $129,000 NCWVREIN