1608 Wallace Pke · Lumberport, WV 26386

$29,900

2 bd · 2.0 ba · 1,900 sqft · SingleFamily · 106 Days on market

Built 1940 ↓ 25% 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 +4.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Lumberport home on Wallace Pike. Vinyl siding exterior, hardwood and concrete flooring, shingled roof. Public water access. Natural gas and electric utilities available. Small camp ground, borders large creek

Key facts

• Hardwood flooring
• Public water access
• Borders large creek

Tags

• VINYL SIDING EXTERIOR
• HARDWOOD FLOORING
• CONCRETE FLOORING
• SHINGLED ROOF
• PUBLIC WATER ACCESS
• BORDERS LARGE CREEK

Property features AI

Exterior

• Home design: Residential property; Single property type (residential)
• Construction: Block foundation
• Exterior features: Shingle roof

Interior

• Bedrooms: Total of 7 rooms (bedrooms count not specified)
• Flooring: Hardwood; Concrete; Vinyl; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Laminate counters; Concrete surfaces; Hardwood flooring; Vinyl flooring; Laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#20 in WV, #2,596 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities 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.
• Market conditions: 1 active listings in the ZIP; 84 units permitted in Harrison County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $207 of loan paydown is wiped out by about $624 of value loss. Plan a longer hold.
• Harrison County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 D-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: 3.50% ✓
• Cap rate: 31.16%
• Cash-on-cash: 88.83%
• DSCR: 4.95
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 90.0%
• Equity multiple: 5.28×
• Total profit: $35,797
• Equity at exit: $5,688

10-year hold

• IRR: 92.5%
• Equity multiple: 10.92×
• Total profit: $83,085
• Equity at exit: $4,748

Cash invested: $8,372 (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 26386

• Home prices YoY: -1.8%
• Active inventory: 1
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,046 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $620

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 36%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $29,900 Active 106 DOM
2. 2026-06-18
   days on market $29,900 Active 105 DOM
3. 2026-06-17
   days on market $29,900 Active 104 DOM
4. 2026-06-16
   days on market $29,900 Active 103 DOM
5. 2026-06-15
   days on market $29,900 Active 102 DOM
6. 2026-06-14
   days on market $29,900 Active 100 DOM
7. 2026-06-12
   days on market $29,900 Active 99 DOM
8. 2026-06-09
   days on market $29,900 Active 96 DOM
9. 2026-06-08
   days on market $29,900 Active 95 DOM
10. 2026-06-07
    days on market $29,900 Active 94 DOM
11. 2026-06-05
    days on market $29,900 Active 91 DOM
12. 2026-06-03
    days on market $29,900 Active 90 DOM
13. 2026-06-02
    days on market $29,900 Active 89 DOM
14. 2026-06-01
    days on market $29,900 Active 88 DOM
15. 2026-05-31
    days on market $29,900 Active 87 DOM
16. 2026-05-30
    days on market $29,900 Active 86 DOM
17. 2026-04-30
    price $29,900
18. 2026-03-22
    price $36,900
19. 2026-03-05
    listed $39,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,552
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$870
• Taxable income: $7,401
• Est. tax owed @ 24.0%: −$1,776
• After-tax cash flow: $5,660/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 — Lumberport

• Score: 78/100
• State rank: #20
• US rank: #2596

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,529

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 (92%)
• Race & ethnicity: White 92% Two or more races 8%
• Common ancestry: Serbian 4% Iranian 2% Italian 1%
• Languages at home: 99% English-only · Spanish 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: ▼ -2.09%
• Current HPI: 111.3159
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-25.1% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $29,900 GVBOR
• 2026-03-22 Price Changed $36,900 GVBOR
• 2026-03-05 Listed $39,900 GVBOR