803 3rd St · Martinsburg, WV 25404

$90,000

2 bd · 1.0 ba · 1,186 sqft · SingleFamily public records · 6 Days on market

Built 1940 9,848 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HIGHEST AND BEST OFFERS DUE WED. BY 8PM! INVESTOR SPECIAL!! This 3 bedroom, 1 bath Cape Cod home is ready for its next chapter and offers a great opportunity for investors/flippers looking for their next project! Situated on nearly a quarter acre lot, the property also features a covered front porch and classic character that provide a starting point for restoration or redevelopment. Cash sale only. Property is being sold as-is.

Key facts

• 9,848 sq ft lot
• Built 1940
• Listed 6 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Composite roof; Aluminum siding
• Construction: Stone foundation; Built year per assessor
• Exterior features: Corner lot location; In city limits

Interior

• Bedrooms: 1 bedroom on main level; 2 bedrooms on the first upper level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heating system: Other; Natural gas heat; Natural gas hot water
• Interior features: Estimated living area; 7 total rooms; Unfinished basement with outside entrance

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 13.9% vs local median 4.0% in Martinsburg — 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 75/100 on livability (#29 in WV, #4,057 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F, employment D-.
• 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: Rents rising fast (+6.3%/yr); 109 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.56% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.27%
• DSCR: 2.21
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $263,292
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Strine Ave	0.04mi	2/2.0	1,116 (-6%)	3mo	$270,000	$242	82
200 Rothwell Ave	0.24mi	3/2.0 (+1)	1,152 (-3%)	7mo	$229,000	$199	69
210 Frederick St	0.27mi	3/1.0 (+1)	1,250 (+5%)	8mo	$46,000	$37	67
334 Yoakum Ave	0.46mi	3/2.0 (+1)	1,183 (-0%)	4mo	$284,900	$241	66
521 E Moler Ave	0.22mi	3/1.5 (+1)	1,280 (+8%)	7mo	$212,000	$166	63
728 N High St	0.05mi	3/2.0 (+1)	1,336 (+13%)	6mo	$218,000	$163	62
400 Athletic St	0.46mi	3/2.0 (+1)	1,120 (-6%)	9mo	$259,900	$232	53
320 N Western Ave	0.45mi	3/2.0 (+1)	1,100 (-7%)	8mo	$246,500	$224	51
327 Athletic St	0.44mi	3/2.0 (+1)	1,056 (-11%)	8mo	$234,500	$222	46
313 Legion St	0.58mi	3/2.5 (+1)	1,270 (+7%)	8mo	$294,900	$232	44
477 E Burke St	0.71mi	2/1.0	1,040 (-12%)	7mo	$114,000	$110	41
329 Randolph St	0.74mi	3/1.5 (+1)	1,344 (+13%)	9mo	$209,900	$156	29

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

Projected returns pro-forma

-3.0% appreciation · 6.3% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.06×
• Total profit: $26,691
• Equity at exit: $13,419

10-year hold

• IRR: 34.4%
• Equity multiple: 4.62×
• Total profit: $91,298
• Equity at exit: $7,782

Cash invested: $25,200 (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 25404

• Home prices YoY: -10.7%
• Rents YoY: 6.3%
• Active inventory: 109
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,408 high
• Mortgage (P&I): −$472
• Tax from tax record: −$30 /mo · $361/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $573

Break-even live

Break-even rent $683

Max offer price $90,000

Occupancy floor 54%

Sensitivity live

Price	-10% $624	-5% $598	+0% $573	+5% $547	+10% $522
Rent	-10% $461	-5% $517	+0% $573	+5% $628	+10% $684
Rate	-1.0pp $618	-0.5pp $596	base $573	+0.5pp $549	+1.0pp $526

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 2nd St Unit A Martinsburg, WV	2.0	1.0	1412	$1,180	$0.84	14d	1	0.09mi
530 N 3rd St Unit B Martinsburg, WV	1.0	1.0	1220	$1,430	$1.17	21d	1	0.24mi
316 N High St Martinsburg, WV	3.0	1.5	1300	$1,650	$1.27	14d	1	0.47mi
117 E Martin St Unit 1 Martinsburg, WV	2.0	1.0	800	$1,200	$1.50	14d	1	0.61mi
218 N College St Martinsburg, WV	3.0	1.0	1200	$1,330	$1.11	21d	1	0.63mi
212 W Martin St Martinsburg, WV	1.0	1.0	800	$1,050	$1.31	14d	1	0.66mi
116 S High St Martinsburg, WV	2.0	1.0	1200	$1,280	$1.07	14d	1	0.71mi
1100 Myna Ct Martinsburg, WV	2.0–3.0	2.0–2.5	1400	$1,640	$1.17	14d	15	0.74mi
226 N Raleigh St Martinsburg, WV	3.0	1.0	1200	$1,450	$1.21	21d	1	0.74mi
200 E King St Martinsburg, WV	2.0	1.0	900	$900	$1.00	14d	1	0.79mi
200 E King St Unit 10 Martinsburg, WV	2.0	1.0	900	$900	$1.00	21d	1	0.79mi
589 Berkeley Cir Martinsburg, WV	2.0	2.0	1160	$1,970	$1.70	13d	1	0.80mi
700 Thomas Ln Martinsburg, WV	2.0	1.0	900	$1,200	$1.33	21d	1	0.81mi
704 Thomas Ln Martinsburg, WV	2.0	1.0	950	$1,300	$1.37	21d	1	0.84mi
1123 Shepherdstown Rd Martinsburg, WV	3.0	1.0	1429	$1,900	$1.33	21d	1	0.86mi
215 W King St Apt B Martinsburg, WV	2.0	2.0	1192	$1,690	$1.42	21d	1	0.86mi
311 W King St Martinsburg, WV	3.0	1.0	800	$950	$1.19	21d	1	0.87mi
320 W Stephen St Martinsburg, WV	2.0	2.0	800	$950	$1.19	14d	1	1.03mi
19 Tevis Cir Martinsburg, WV	2.0	2.0	1128	$1,545	$1.37	14d	5	1.09mi
600 W John St Martinsburg, WV	1.0–2.0	1.0–2.0	976	$2,026	$2.08	14d	14	1.09mi
236 Trimble Ave Martinsburg, WV	2.0	1.5	1200	$1,350	$1.12	14d	1	1.12mi
329 Porter Ave Martinsburg, WV	2.0	1.0	800	$1,000	$1.25	14d	1	1.22mi
620 W Virginia Ave Martinsburg, WV	3.0	1.0	1200	$1,555	$1.30	14d	1	1.33mi
653 Faulkner Ave Martinsburg, WV	3.0	1.5	1442	$1,450	$1.01	21d	1	1.45mi
122 Garden Dr Martinsburg, WV	1.0–3.0	1.0	829	$900	$1.09	14d	24	1.46mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-08
   listed $90,000 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: $361 · $30/mo
• Projected year-2 tax: $531 · $44/mo
• Expected delta: +$170/yr (+$14/mo · 47.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 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: $16,894
• − Mortgage interest: −$5,041
• − Property taxes: −$361
• − Insurance: −$450
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$2,618
• Taxable income: $5,721
• Est. tax owed @ 24.0%: −$1,373
• After-tax cash flow: $5,499/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 — Martinsburg

• Score: 75/100
• State rank: #29
• US rank: #4057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martinsburg, WV
• County: Berkeley County · 85,235 people
• City population: 55,439
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 23,990
• Household income: $70,633
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 833.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 3% Italian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -24.58%
• Current HPI: 205.3277
• Rent YoY: ▲ 6.30%
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-05-14 Pending — BRIGHT MLS
• 2026-05-08 Listed $90,000 BRIGHT MLS

Property tax history

-1.0%/yr

Latest (2025): $361 · +17.9% YoY. Source: county tax records.