39 Gnatcatcher Ln · Martinsburg, WV 25405

$334,900

4 bd · 3.0 ba · 1,844 sqft · SingleFamily public records · 4 Days on market

Built 2017 8,851 sqft lot Est $330k · at est. $10/mo HOA

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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 +8.6/30.0
• Appreciation +6.9/10.0
• ARV discount +6.8/15.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.6/10.0

Listing remarks MLS

Beautifully maintained and SO spacious! This 4 Bedroom, 3 Bath house has room for the whole family, boasting over 1700 sq feet! Conveniently located between exit 12 and exit 8, this house looks like new, so clean and fresh! Home has vaulted ceilings in the wide open living room, dining, kitchen area. There is a large deck off the dining room and a walkout to ground level coming off of a large bonus room in the lower level. The garage is oversized with room for cars, storage, mowers, toys, etc. Back yard is fully fenced and ready for your pets!

Key facts

• 8,851 sq ft lot
• 2 garage spots
• Built 2017

Property features AI

Finance

• HOA & community: HOA fee $125 annually

Exterior

• Parking: Attached front-entry 2-car garage; Driveway with paved surface
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached home; Fee simple ownership
• Construction: Vinyl siding exterior; Architectural shingle roof; Concrete perimeter foundation; Built in year per assessor
• Exterior features: No tidal water

Interior

• Kitchen: Includes dishwasher, refrigerator, and stove
• Bedrooms: Three bedrooms on the main level; One bedroom on the lower level
• Bathrooms: Three full bathrooms (two on the main level, one on the lower level)
• Heating & cooling: Heat pump with electric backup; Central air conditioning; Electric heating and hot water
• Interior features: Drywall and vaulted ceilings; Very good condition
• Laundry & utility: Water heater; Owned water conditioner

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (33.6% below list).
• Recommended offer: $222k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.9% 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: 119 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (3.8% local appreciation)).
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $224k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,494 (33.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 0.66% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $330,076
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Stork Ln	0.05mi	3/2.5 (-1)	1,844 (0%)	11mo	$330,000	$179	82
3531 Winchester Ave	0.45mi	4/1.5	1,872 (+2%)	3mo	$430,000	$230	68
117 Bunting Ave	0.14mi	4/2.5	1,784 (-3%)	24mo	$334,900	$188	66
103 Owl Ave	0.12mi	4/3.0	2,104 (+14%)	7mo	$320,000	$152	65
400 Wren St N	0.20mi	3/2.0 (-1)	1,712 (-7%)	6mo	$335,000	$196	64
285 Wren St N	0.20mi	5/3.0 (+1)	2,064 (+12%)	2mo	$348,000	$169	64
64 Bunting Ave	0.08mi	5/3.0 (+1)	2,066 (+12%)	8mo	$340,000	$165	64
51 Shearwater Way	0.06mi	3/3.0 (-1)	2,032 (+10%)	14mo	$330,000	$162	64
762 Teal	0.73mi	3/2.5 (-1)	1,896 (+3%)	9mo	$343,800	$181	46
118 Huttons Vireo Dr	0.74mi	3/3.0 (-1)	2,110 (+14%)	15mo	$306,000	$145	23

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

Projected returns pro-forma

3.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.39×
• Total profit: $37,007
• Equity at exit: $166,716

10-year hold

• IRR: 9.0%
• Equity multiple: 2.49×
• Total profit: $139,263
• Equity at exit: $270,246

Cash invested: $93,772 (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 25405

• Home prices YoY: 1.9%
• Active inventory: 119
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,225 medium
• Mortgage (P&I): −$1,756
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$140
• HOA: −$10
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-288

Break-even live

Break-even rent $2,590

Max offer price $283,954

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-194	+0% $-288	+5% $-383	+10% $-478
Rent	-10% $-464	-5% $-376	+0% $-288	+5% $-201	+10% $-113
Rate	-1.0pp $-120	-0.5pp $-203	base $-288	+0.5pp $-375	+1.0pp $-463

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: $83,725
• Closing costs: $10,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Eminence Dr , WV	3.0	1.0–3.5	1296	$2,200	$1.70	6d	10	0.96mi
47 Pikeview Dr Martinsburg, WV	3.0	2.5	2146	$2,250	$1.05	22d	1	1.18mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 18 events

1. 2026-05-06
   status Pending
2. 2026-05-03
   listed $334,900 Active
3. 2026-04-29
   historical $334,900
4. 2024-01-18
   soldstatus $224,263
5. 2023-05-23
   soldstatus $299,900
6. 2023-05-18
   soldstatus $299,900 Closed 551-char remark

   Show marketing remark (551 chars)

   Beautifully maintained and SO spacious! This 4 Bedroom, 3 Bath house has room for the whole family, boasting over 1700 sq feet! Conveniently located between exit 12 and exit 8, this house looks like new, so clean and fresh! Home has vaulted ceilings in the wide open living room, dining, kitchen area. There is a large deck off the dining room and a walkout to ground level coming off of a large bonus room in the lower level. The garage is oversized with room for cars, storage, mowers, toys, etc. Back yard is fully fenced and ready for your pets!

7. 2023-04-20
   status Pending 551-char remark

   Show marketing remark (551 chars)

   Beautifully maintained and SO spacious! This 4 Bedroom, 3 Bath house has room for the whole family, boasting over 1700 sq feet! Conveniently located between exit 12 and exit 8, this house looks like new, so clean and fresh! Home has vaulted ceilings in the wide open living room, dining, kitchen area. There is a large deck off the dining room and a walkout to ground level coming off of a large bonus room in the lower level. The garage is oversized with room for cars, storage, mowers, toys, etc. Back yard is fully fenced and ready for your pets!

8. 2023-04-16
   price $299,900 551-char remark

   Show marketing remark (551 chars)

   Beautifully maintained and SO spacious! This 4 Bedroom, 3 Bath house has room for the whole family, boasting over 1700 sq feet! Conveniently located between exit 12 and exit 8, this house looks like new, so clean and fresh! Home has vaulted ceilings in the wide open living room, dining, kitchen area. There is a large deck off the dining room and a walkout to ground level coming off of a large bonus room in the lower level. The garage is oversized with room for cars, storage, mowers, toys, etc. Back yard is fully fenced and ready for your pets!

9. 2023-04-01
   listed $316,000 Active 551-char remark

   Show marketing remark (551 chars)

   Beautifully maintained and SO spacious! This 4 Bedroom, 3 Bath house has room for the whole family, boasting over 1700 sq feet! Conveniently located between exit 12 and exit 8, this house looks like new, so clean and fresh! Home has vaulted ceilings in the wide open living room, dining, kitchen area. There is a large deck off the dining room and a walkout to ground level coming off of a large bonus room in the lower level. The garage is oversized with room for cars, storage, mowers, toys, etc. Back yard is fully fenced and ready for your pets!

10. 2020-09-11
    soldstatus $232,000
11. 2020-09-04
    soldstatus $232,000 Closed 595-char remark

    Show marketing remark (595 chars)

    New to the market this thie 3 year new Turn Key Split Foyer w/ 4 bedrooms and 3 Full baths. Main living area & kitchen offers Pergo floors & vaulted ceilings, Kitchen w/ Island, & Master bedroom w/ full bath; Fully Finished lower level w/ 4th bedroom, rec room & full bath provides plenty of additional space. Large 2-car garage, 10x12 deck, fenced in backyard, & concrete driveway included! Easy access to I-81 as well as excellent proximity to town for groceries shopping, gas, etc. Don't hesitate or you might allow someone else the opportunity to make it theirs.

12. 2020-08-27
    status Pending 595-char remark

    Show marketing remark (595 chars)

    New to the market this thie 3 year new Turn Key Split Foyer w/ 4 bedrooms and 3 Full baths. Main living area & kitchen offers Pergo floors & vaulted ceilings, Kitchen w/ Island, & Master bedroom w/ full bath; Fully Finished lower level w/ 4th bedroom, rec room & full bath provides plenty of additional space. Large 2-car garage, 10x12 deck, fenced in backyard, & concrete driveway included! Easy access to I-81 as well as excellent proximity to town for groceries shopping, gas, etc. Don't hesitate or you might allow someone else the opportunity to make it theirs.

13. 2020-07-29
    historical Active Under Contract 595-char remark

    Show marketing remark (595 chars)

    New to the market this thie 3 year new Turn Key Split Foyer w/ 4 bedrooms and 3 Full baths. Main living area & kitchen offers Pergo floors & vaulted ceilings, Kitchen w/ Island, & Master bedroom w/ full bath; Fully Finished lower level w/ 4th bedroom, rec room & full bath provides plenty of additional space. Large 2-car garage, 10x12 deck, fenced in backyard, & concrete driveway included! Easy access to I-81 as well as excellent proximity to town for groceries shopping, gas, etc. Don't hesitate or you might allow someone else the opportunity to make it theirs.

14. 2020-07-26
    listed $235,000 Active 595-char remark

    Show marketing remark (595 chars)

    New to the market this thie 3 year new Turn Key Split Foyer w/ 4 bedrooms and 3 Full baths. Main living area & kitchen offers Pergo floors & vaulted ceilings, Kitchen w/ Island, & Master bedroom w/ full bath; Fully Finished lower level w/ 4th bedroom, rec room & full bath provides plenty of additional space. Large 2-car garage, 10x12 deck, fenced in backyard, & concrete driveway included! Easy access to I-81 as well as excellent proximity to town for groceries shopping, gas, etc. Don't hesitate or you might allow someone else the opportunity to make it theirs.

15. 2017-04-20
    soldstatus $174,900
16. 2017-04-20
    soldstatus $174,900 Sold
17. 2017-02-28
    status Contingent (No Kick Out)
18. 2017-02-07
    listed $174,990 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: $1,684 · $140/mo
• Projected year-2 tax: $1,976 · $165/mo
• Expected delta: +$292/yr (+$24/mo · 17.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 17 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: $26,699
• − Mortgage interest: −$18,760
• − Property taxes: −$1,684
• − Insurance: −$1,674
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − HOA: −$120
• − Depreciation: −$9,743
• Taxable loss: −$9,553
• Est. tax savings @ 24.0%: +$2,293
• After-tax cash flow: $-1,168/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

• City population: 55,439
• Population (ZIP): 14,993

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 (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 1% Dominican 1%
• Common ancestry: Italian 4% Scotch-Irish 3% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1%

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: ▲ 3.84%
• Current HPI: 204.0128
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+91.4% since first listed

18 events — show timeline

• 2026-05-06 Pending — BRIGHT MLS
• 2026-05-03 Listed $334,900 BRIGHT MLS
• 2026-04-29 Coming Soon $334,900 BRIGHT MLS
• 2024-01-18 Sold (Public Records) $224,263 Public Records
• 2023-05-23 Sold (Public Records) $299,900 Public Records
• 2023-05-18 Sold (MLS) $299,900 BRIGHT MLS
• 2023-04-20 Pending — BRIGHT MLS
• 2023-04-16 Price Changed $299,900 BRIGHT MLS
• 2023-04-01 Listed $316,000 BRIGHT MLS
• 2020-09-11 Sold (Public Records) $232,000 Public Records
• 2020-09-04 Sold (MLS) $232,000 BRIGHT MLS
• 2020-08-27 Pending — BRIGHT MLS
• 2020-07-29 Contingent — BRIGHT MLS
• 2020-07-26 Listed $235,000 BRIGHT MLS
• 2017-04-20 Sold (MLS) $174,900 MRIS
• 2017-04-20 Sold (MLS) $174,900 BRIGHT MLS
• 2017-02-28 Pending — MRIS
• 2017-02-07 Listed $174,990 MRIS

Property tax history

+5.1%/yr

Latest (2025): $1,684 · +3.7% YoY. Source: county tax records.