140 Thayers Gull Dr · Martinsburg, WV 25405

$320,000

3 bd · 2.0 ba · 1,865 sqft · SingleFamily public records · 4 Days on market

Built 2003 0.25 ac lot Est $313k · at est. $23/mo HOA · 1% of rent

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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 +10.2/30.0
• Appreciation +6.9/10.0
• ARV discount +6.5/15.0
• Livability +3.8/5.0
• DSCR +2.9/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 2003

Property features AI

Finance

• HOA & community: Homeowners association fee of $23 per month

Exterior

• Parking: Attached 2-car garage with garage door opener and inside access; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Shingle roof; Front-entry attached garage
• Construction: Brick and vinyl siding exterior; Permanent foundation
• Exterior features: Exterior lighting; Deck(s); Cleared lot with landscaping; Outside and side entrances to basement

Interior

• Kitchen: Built-in microwave; Dishwasher; Electric oven/range; Refrigerator; Stainless steel appliances; Exhaust fan
• Bedrooms: Three bedrooms on upper level
• Flooring: Luxury vinyl plank
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump(s); Central air conditioning; Electric heating and hot water
• Interior features: Open and traditional floor plan elements; Combination dining/living area; Combination kitchen/dining area; Ceiling fans; Upgraded countertops; Master bathroom; Tub with shower
• Laundry & utility: Washer and dryer included; Laundry located on lower floor; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (29.7% below list).
• Recommended offer: $225k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.8% 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.
• Zoned schools: Berkeley Heights Elementary School (math 27% / reading 22%, grade F, #287 of 377 statewide, top 85%, 680 students, 0% FRL); Martinsburg South Middle School (math 14% / reading 35%, grade F, #84 of 109 statewide, top 81%, 747 students, 0% FRL); Martinsburg High School (math 17% / reading 49%, grade F, #53 of 110 statewide, top 48%, 1,471 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 121 active listings in the ZIP; 1 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 + $12k 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 ~$36k 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.
• 7 sale attempts since 15y 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 $166k; list at $320k implies a 93% gain — meaningful room to come down on a strong offer.

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 $225,000 (29.7% 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: 0.70% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $313,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
262 Corvette Dr	0.12mi	4/2.0 (+1)	1,870 (+0%)	12mo	$315,000	$168	80
267 Teal Rd	0.16mi	3/2.5	1,716 (-8%)	3mo	$285,000	$166	75
43 Tather Dr	0.19mi	4/3.0 (+1)	1,924 (+3%)	4mo	$300,000	$156	73
762 Teal	0.31mi	3/2.5	1,896 (+2%)	9mo	$343,800	$181	73
14 Snail Kite Rd	0.15mi	3/2.5	1,760 (-6%)	15mo	$319,000	$181	70
23 Longbranch Dr	0.13mi	3/2.0	1,716 (-8%)	14mo	$245,000	$143	69
331 Teal Rd N	0.20mi	3/2.5	2,083 (+12%)	4mo	$340,000	$163	66
3531 Winchester Ave	0.58mi	4/1.5 (+1)	1,872 (+0%)	3mo	$430,000	$230	62
84 Glossy Ibis Ln	0.25mi	3/2.5	1,716 (-8%)	13mo	$265,000	$154	62
1805 Kelly Island Rd	0.46mi	3/2.0	1,638 (-12%)	5mo	$290,000	$177	54
1112 Paynes Ford Rd	0.61mi	3/2.0	2,108 (+13%)	11mo	$192,500	$91	40
150 Jabez Dr	0.72mi	3/2.5	1,624 (-13%)	11mo	$337,000	$208	33

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: 7.6%
• Equity multiple: 1.46×
• Total profit: $41,236
• Equity at exit: $159,299

10-year hold

• IRR: 9.9%
• Equity multiple: 2.63×
• Total profit: $145,765
• Equity at exit: $258,223

Cash invested: $89,600 (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: 121
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,250 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$126 /mo · $1,517/yr
• Insurance: −$133
• HOA: −$23
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-183

Break-even live

Break-even rent $2,482

Max offer price $287,603

Occupancy floor —

Sensitivity live

Price	-10% $-2	-5% $-93	+0% $-183	+5% $-274	+10% $-365
Rent	-10% $-361	-5% $-272	+0% $-183	+5% $-95	+10% $-6
Rate	-1.0pp $-22	-0.5pp $-102	base $-183	+0.5pp $-266	+1.0pp $-351

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Pikeview Dr Martinsburg, WV	3.0	2.5	2146	$2,250	$1.05	23d	1	0.91mi

HOA detail

• Monthly dues: $23 · $276/yr
• Likely covers: pool

Listing history 23 events

1. 2026-06-22
   status $320,000 Pending 4 DOM
2. 2026-05-21
   listed $320,000 Active
3. 2026-05-15
   historical $320,000
4. 2014-12-11
   soldstatus $166,000 Sold 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

5. 2014-12-11
   soldstatus $166,000 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

6. 2014-11-02
   status Contingent (No Kick Out) 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

7. 2014-11-01
   historical 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

8. 2014-09-10
   price $169,900 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

9. 2014-09-06
   listed $174,900 Active 413-char remark

   Show marketing remark (413 chars)

   BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

10. 2014-09-06
    listed $169,900 413-char remark

    Show marketing remark (413 chars)

    BEAUTIFUL SPLIT ENTRY HOME IN FABULOUS COMMUTER LOCATION VERY NEAR EXIT 12 CONVENIENCES. NEW SUPER STAINLESS APPLIANCES, BUILT-IN MICROWAVE, COOKTOP STOVE, DISHWASHER & LARGE REFRIGERATOR/FREEZER WITH ICEMAKER. ATTRACTIVE GRANITE KITCHEN COUNTERTOPS. FRONT LOADING WASHER & DRYER ARE A REAL PLUS! NEWDOWNSTAIRS FLOORING & FULLY FENCED YARD FOR PRIVACY & PETS-NEW ABOVE GROUND POOL AS WELL!

11. 2013-01-31
    soldstatus $154,000 Sold
12. 2013-01-31
    soldstatus $154,000
13. 2013-01-04
    status Contingent (No Kick Out)
14. 2013-01-03
    historical
15. 2012-12-02
    listed $159,900 Active
16. 2012-12-02
    listed $159,900
17. 2012-03-20
    historical Withdrawn
18. 2012-03-20
    historical
19. 2011-10-15
    price
20. 2011-07-29
    listed Active
21. 2011-07-29
    listed $154,000
22. 2003-10-20
    soldstatus $146,250
23. 2003-05-19
    soldstatus $140,000

ⓘ 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: $1,517 · $126/mo
• Projected year-2 tax: $1,888 · $157/mo
• Expected delta: +$371/yr (+$31/mo · 24.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 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: $27,000
• − Mortgage interest: −$17,925
• − Property taxes: −$1,517
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,160
• − Management: −$2,160
• − HOA: −$276
• − Depreciation: −$9,309
• Taxable loss: −$7,947
• Est. tax savings @ 24.0%: +$1,907
• After-tax cash flow: $-293/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

+128.6% since first listed

22 events — show timeline

• 2026-05-21 Listed $320,000 BRIGHT MLS
• 2026-05-15 Coming Soon $320,000 BRIGHT MLS
• 2014-12-11 Sold (MLS) $166,000 BRIGHT MLS
• 2014-12-11 Sold (MLS) $166,000 MRIS
• 2014-11-02 Pending — MRIS
• 2014-11-01 Listing Removed — BRIGHT MLS
• 2014-09-10 Price Changed $169,900 MRIS
• 2014-09-06 Listed $174,900 MRIS
• 2014-09-06 Listed $169,900 BRIGHT MLS
• 2013-01-31 Sold (MLS) $154,000 BRIGHT MLS
• 2013-01-31 Sold (MLS) $154,000 MRIS
• 2013-01-04 Pending — MRIS
• 2013-01-03 Listing Removed — BRIGHT MLS
• 2012-12-02 Listed $159,900 MRIS
• 2012-12-02 Listed $159,900 BRIGHT MLS
• 2012-03-20 Delisted — MRIS
• 2012-03-20 Listing Removed — BRIGHT MLS
• 2011-10-15 Price Changed — MRIS
• 2011-07-29 Listed — MRIS
• 2011-07-29 Listed $154,000 BRIGHT MLS
• 2003-10-20 Sold (Public Records) $146,250 Public Records
• 2003-05-19 Sold (Public Records) $140,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,517 · +2.5% YoY. Source: county tax records.