23336 Pond Fork Rd · Van, WV 25028

$29,500

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 196 Days on market

Built 1950 6,098 sqft lot ↓ 21% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Older home that needs tlc. Carpets & vinyl need replaced. Older windows. Baseboard electric heat. Window air conditioner. Older refrigerator & kitchen stove. Large living room & kitchen. You have to walk thru one bedroom to get to the other one. Nice large fenced yard. Has a carport & an older garage that owner used for storage. Needs a new floor. Metal roof is 4-5 years old.

Key facts

• Metal roof
• Large fenced yard
• Carport

Tags

• LARGE LIVING ROOM
• LARGE FENCED YARD
• CARPORT
• METAL ROOF

Property features AI

Exterior

• Parking: Detached garage; Carport; 1 garage space
• Utilities: Public water; Septic tank
• Home design: Ranch-style residence; Single-story
• Construction: Frame construction; Metal roof
• Exterior features: Porch; Fenced yard; Waterfront lot on a creek/stream

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Eat-in kitchen; Storm windows; Partial basement with sump pump

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#149 in WV) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: amenities F, commute F, housing F.
• Boone County Schools (rural): math 26% / reading 36% proficiency, ranked #26 of 55 in WV (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Elementary (math 24% / reading 24%, grade F, #287 of 377 statewide, top 85%, 155 students, 0% FRL); Van Junior Senior High School (math 22% / reading 37%, grade F, #69 of 110 statewide, top 71%, 177 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: 2 active listings in the ZIP; 4 units permitted in Boone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($204 loan paydown + $1k appreciation (4.8% local appreciation)).
• Boone County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $25,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.98% ✓
• Cap rate: 27.58%
• Cash-on-cash: 76.01%
• DSCR: 4.38
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.57×
• Total profit: $12,938
• Equity at exit: $16,426

10-year hold

• IRR: 24.6%
• Equity multiple: 5.17×
• Total profit: $34,415
• Equity at exit: $28,110

Cash invested: $8,260 (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 25028

• Home prices YoY: 4.5%
• Active inventory: 2
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$155
• Tax from tax record: −$5 /mo · $60/yr
• Insurance: −$12
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $97

Break-even live

Break-even rent $758

Max offer price $29,500

Occupancy floor 84%

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: $7,375
• Closing costs: $885
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $29,500 Active 196 DOM
2. 2026-06-17
   days on market $29,500 Active 195 DOM
3. 2026-06-16
   days on market $29,500 Active 194 DOM
4. 2026-06-15
   days on market $29,500 Active 193 DOM
5. 2026-06-15
   days on market $29,500 Active 192 DOM
6. 2026-06-13
   days on market $29,500 Active 191 DOM
7. 2026-06-12
   days on market $29,500 Active 190 DOM
8. 2026-06-09
   days on market $29,500 Active 187 DOM
9. 2026-06-08
   days on market $29,500 Active 186 DOM
10. 2026-06-08
    days on market $29,500 Active 185 DOM
11. 2026-06-07
    days on market $29,500 Active 184 DOM
12. 2026-06-04
    days on market $29,500 Active 182 DOM
13. 2026-06-03
    days on market $29,500 Active 181 DOM
14. 2026-06-02
    days on market $29,500 Active 180 DOM
15. 2026-06-01
    days on market $29,500 Active 179 DOM
16. 2026-05-31
    days on market $29,500 Active 178 DOM
17. 2026-05-11
    price $29,500
18. 2026-03-25
    price $33,500
19. 2025-12-04
    listed $37,500 Active

ⓘ 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: $60 · $5/mo
• Projected year-2 tax: $174 · $15/mo
• Expected delta: +$114/yr (+$10/mo · 190.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 8 d/yr ≥97°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $10,560
• − Mortgage interest: −$1,652
• − Property taxes: −$60
• − Insurance: −$5,266
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$858
• Taxable income: $1,034
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $912/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: Boone County Schools
• NCES district ID: 5400090
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $39,554
• Composite: 26.0/100
• National rank: #7318
• State rank: #26 of 55 in WV

Livability — Van

• Score: 64/100
• State rank: #149
• US rank: #14574

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 234

Population outlook (Boone County) Hauer SSP2

• Today (2025): 20,544 people
• By 2030: 19,019 · -7.4%
• By 2040: 16,026 · -22.0%
• By 2050: 13,482 · -34.4%
• By 2075: 8,854 · -56.9%
• By 2100: 6,046 · -70.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Serbian 6%

Political lean MEDSL · Boone

• 2024 margin: Solid R (+57.4) · D 20.1% · R 77.5% · Other 2.3%
• 2008→2024 swing: -68.1pp toward R · 2008: 10.7pp · 2024: -57.4pp
• All cycles: 2024: R+57.4 2020: R+53.0 2016: R+54.3 2012: R+31.3 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.84%
• Current HPI: 113.183
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-21.3% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $29,500 KVBOR
• 2026-03-25 Price Changed $33,500 KVBOR
• 2025-12-04 Listed $37,500 KVBOR