206 Dogwood Ct · Shady Spring, WV 25832

$2,050

4 bd · 3.0 ba · 2,390 sqft · Condo public records · 18 Days on market

Built 1979

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.4/10.0

Listing remarks MLS

Unit has a renovated kitchen with granite counter-tops, stainless steel appliances, custom cabinets & hardwood flooring which runs into the dining, living & entryway. Spacious living room with vaulted ceiling, deck access & lots of natural lighting. Large family room could also be a 4th bedroom. The master has a private deck, double closets & updated bath. Additional bedrooms have private baths.

Key facts

• Hardwood flooring
• Custom cabinets
• Galley kitchen

Tags

• GALLEY KITCHEN
• GRANITE COUNTER-TOPS
• STAINLESS APPLIANCES
• CUSTOM CABINETS
• HARDWOOD FLOORING
• VAULTED CEILING

Property features AI

Finance

• Other: Subdivision: Glade Springs; Directions available
• HOA & community: Homeowners association with pool; HOA covers snow removal, trash, and security

Exterior

• Parking: 2 total parking spaces; 2 covered spaces; 2-car attached garage; Open parking; Asphalt driveway/parking
• Security: Association security
• Utilities: Public water; Public sewer; Underground utilities
• Home design: Residential property; Residential lease
• Construction: Wood siding; Asphalt roof
• Exterior features: Deck (covered); Level, landscaped lot; Shed(s); Has view

Interior

• Kitchen: Dishwasher; Cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Pantry; Entrance foyer; High ceilings; Ceiling fans
• Laundry & utility: Washer hookup; Crawl space

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $2k).
• Recommended offer: $2k (1.5% below list) — sets the bar for market timing.
• Cap rate 577.4% vs local median 1.8% in Shady Spring — 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 60/100 on livability (#214 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, health & safety F.
• Raleigh County Schools (rural): math 29% / reading 42% proficiency, ranked #14 of 55 in WV (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shady Spring Elementary (math 36% / reading 43%, grade F, #108 of 377 statewide, top 33%, 414 students, 0% FRL); Shady Spring Middle School (math 30% / reading 46%, grade F, #25 of 109 statewide, top 23%, 578 students, 0% FRL); Shady Spring High (math 32% / reading 57%, grade F, #11 of 110 statewide, top 11%, 828 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 150 active listings in the ZIP; 41 units permitted in Raleigh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $14 of loan paydown is wiped out by about $62 of value loss. Plan a longer hold.
• Raleigh County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $574 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $2k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $2,019 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 61.12% ✓
• Cap rate: 577.42%
• Cash-on-cash: 2039.73%
• DSCR: 91.76
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 108.71×
• Total profit: $61,828
• Equity at exit: $306

10-year hold

• IRR: —
• Equity multiple: 234.33×
• Total profit: $133,932
• Equity at exit: $177

Cash invested: $574 (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 25832

• Home prices YoY: -4.0%
• Active inventory: 150
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,253 medium
• Mortgage (P&I): −$11
• Tax est. 1.5%: −$3 /mo · $31/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $976

Break-even live

Break-even rent $18

Max offer price $2,050

Occupancy floor 17%

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: $512
• Closing costs: $62
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-04-27
   listed $2,050 Active
3. 2017-12-14
   soldstatus $1,700 422-char remark

   Show marketing remark (422 chars)

   Unit has a renovated kitchen with granite counter-tops, stainless steel appliances, custom cabinets & hardwood flooring which runs into the dining, living & entryway. Spacious living room with vaulted ceiling, deck access & lots of natural lighting. Large family room could also be a 4th bedroom. The master has a private deck, double closets & updated bath. Additional bedrooms have private baths.

4. 2017-11-10
   listed $1,700 422-char remark

   Show marketing remark (422 chars)

   Unit has a renovated kitchen with granite counter-tops, stainless steel appliances, custom cabinets & hardwood flooring which runs into the dining, living & entryway. Spacious living room with vaulted ceiling, deck access & lots of natural lighting. Large family room could also be a 4th bedroom. The master has a private deck, double closets & updated bath. Additional bedrooms have private baths.

5. 1990-10-04
   soldstatus $102,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,036
• − Mortgage interest: −$115
• − Property taxes: −$31
• − Insurance: −$10
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$60
• Taxable income: $12,414
• Est. tax owed @ 24.0%: −$2,979
• After-tax cash flow: $8,729/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: Raleigh County Schools
• NCES district ID: 5401230
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $39,828
• Composite: 29.74/100
• National rank: #6445
• State rank: #14 of 55 in WV

Livability — Shady Spring

• Score: 60/100
• State rank: #214
• US rank: #18668

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,843

Population outlook (Raleigh County) Hauer SSP2

• Today (2025): 73,505 people
• By 2030: 70,954 · -3.5%
• By 2040: 66,038 · -10.2%
• By 2050: 61,919 · -15.8%
• By 2075: 51,954 · -29.3%
• By 2100: 39,724 · -46.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Black 2%
• Common ancestry: Lithuanian 4% Romanian 3% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Raleigh

• 2024 margin: Solid R (+54.3) · D 22.0% · R 76.3% · Other 1.6%
• 2008→2024 swing: -28.5pp toward R · 2008: -25.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+50.4 2016: R+52.8 2012: R+44.6 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.10%
• Current HPI: 218.4344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-98.0% since first listed

5 events — show timeline

• 2026-05-15 Pending — BBOR
• 2026-04-27 Listed $2,050 BBOR
• 2017-12-14 Sold (MLS) $1,700 BBOR
• 2017-11-10 Listed $1,700 BBOR
• 1990-10-04 Sold (Public Records) $102,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,954 · +10.5% YoY. Source: county tax records.