56 Baneberry Ln Unit A · Terra Alta, WV 26764

$147,000

3 bd · 2.0 ba · 1,136 sqft · Condo public records · 81 Days on market

Built 1983 $251/mo HOA · 12% of rent

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

(Unit A – End Unit) 3 BR, 2 Full Bath, Vacant, Easy to Show If you're looking for an affordable full-time place, a simple second home, or something with solid vacation rental potential, this end-unit 3-bedroom, 2 full bath townhouse in Alpine Lake Resort is a great fit. Located just a few hours from Pittsburgh, PA and Washington, DC, it’s an easy getaway without the long drive. Set in a quiet section of the resort, this end unit offers added privacy along with a comfortable, open layout and good natural light. The highlight here is the view—overlooking the second fairway, giving you a great golf course setting right from the home. With three bedrooms and two full baths, t

Key facts

• $251 HOA
• Community pool
• Built 1983

Property features AI

Finance

• Other: General Residential zoning
• HOA & community: Homeowners association with annual fee of $3,012 (about $251/month); Community clubhouse; Community pool; Tennis courts

Exterior

• Parking: No dedicated parking
• Security: Gated community
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential townhouse; Located in Alpine Lake Resort
• Construction: Wood siding
• Exterior features: Deck; On golf course; Wooded setting; Has view; Pets allowed

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Central air conditioning
• Interior features: Dishwasher; Dryer; Refrigerator; Range; Washer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $147k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• Recommended offer: $138k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 5.7% in Terra Alta — 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 61/100 on livability (#196 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Preston County Schools (rural): math 22% / reading 33% proficiency, ranked #39 of 55 in WV (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Terra Alta/East Preston School (math 20% / reading 29%, grade F, #287 of 377 statewide, top 85%, 310 students, 0% FRL); Preston High School (math 10% / reading 32%, grade F, #100 of 110 statewide, top 91%, 1,178 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 97 active listings in the ZIP; 2 units permitted in Preston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.7% local appreciation)).
• Preston County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; list at $147k implies a 130% gain — meaningful room to come down on a strong offer.

Recommended offer $138,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.13×
• Total profit: $46,515
• Equity at exit: $55,618

10-year hold

• IRR: 23.6%
• Equity multiple: 4.03×
• Total profit: $124,620
• Equity at exit: $78,315

Cash invested: $41,160 (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 26764

• Home prices YoY: 0.6%
• Active inventory: 97
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,174 medium
• Mortgage (P&I): −$771
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$61
• HOA: −$251
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $605

Break-even live

Break-even rent $1,408

Max offer price $147,000

Occupancy floor 67%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $251 · $3,012/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-15
   days on market $147,000 Active 81 DOM
2. 2026-06-14
   days on market $147,000 Active 79 DOM
3. 2026-06-13
   days on market $147,000 Active 78 DOM
4. 2026-06-10
   days on market $147,000 Active 76 DOM
5. 2026-06-09
   days on market $147,000 Active 75 DOM
6. 2026-06-08
   days on market $147,000 Active 74 DOM
7. 2026-06-07
   days on market $147,000 Active 73 DOM
8. 2026-06-03
   days on market $147,000 Active 69 DOM
9. 2026-06-02
   days on market $147,000 Active 68 DOM
10. 2026-06-01
    days on market $147,000 Active 67 DOM
11. 2026-05-31
    days on market $147,000 Active 66 DOM
12. 2026-05-30
    days on market $147,000 Active 65 DOM
13. 2026-03-26
    listed $147,000 Active
14. 1997-11-07
    soldstatus $64,000

ⓘ 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: $351 · $29/mo
• Projected year-2 tax: $867 · $72/mo
• Expected delta: +$517/yr (+$43/mo · 147.3%)

ⓘ 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 2/10 Low 7 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,094
• − Mortgage interest: −$8,234
• − Property taxes: −$351
• − Insurance: −$735
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − HOA: −$3,012
• − Depreciation: −$4,276
• Taxable income: $5,311
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $5,991/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: Preston County Schools
• NCES district ID: 5401170
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $43,997
• Composite: 23.51/100
• National rank: #7869
• State rank: #39 of 55 in WV

Livability — Terra Alta

• Score: 61/100
• State rank: #196
• US rank: #17622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,349

Population outlook (Preston County) Hauer SSP2

• Today (2025): 33,786 people
• By 2030: 33,618 · -0.5%
• By 2040: 32,953 · -2.5%
• By 2050: 32,131 · -4.9%
• By 2075: 30,774 · -8.9%
• By 2100: 27,037 · -20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Preston

• 2024 margin: Solid R (+57.0) · D 20.5% · R 77.5% · Other 2.1%
• 2008→2024 swing: -30.5pp toward R · 2008: -26.5pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+55.1 2016: R+55.8 2012: R+44.4 2008: R+26.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.70%
• Current HPI: 294.2344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+129.7% since first listed

2 events — show timeline

• 2026-03-26 Listed $147,000 NCWVREIN
• 1997-11-07 Sold (Public Records) $64,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $351 · -7.3% YoY. Source: county tax records.