18 Scholarship Ln · Falling Waters, WV 25404

$287,000

4 bd · 3.5 ba · 2,047 sqft · Townhouse public records · 2 Days on market

Built 2010 3,049 sqft lot Est $250k · 15% over $39/mo HOA · 2% of rent

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Why this score? — see what drove the F 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 +12.5/30.0
• Rent growth +4.1/5.0
• DSCR +3.7/10.0
• Livability +3.3/5.0
• 1% rule +2.7/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained end-unit townhome in desirable Berkeley Ridge — offering space, versatility, and an unbeatable commuter location with quick access to I-81 and I-70. This unique 4-bedroom, 3.5-bath home features an inviting eat-in kitchen, a spacious living room with solid hardwood floors, and an abundance of natural light throughout. Designed with flexibility in mind, the home includes separate living quarters ideal for roommates, multigenerational living, guests, or larger families needing additional privacy and space. Step outside to your own private outdoor oasis complete with a deck, patio, fenced backyard, and storage sheds — perfect for entertaining,

Key facts

• $39 HOA
• 2 parking spots
• Built 2010

Property features AI

Finance

• HOA & community: HOA fee of $39 per month

Exterior

• Parking: Assigned parking; Two total garage/parking spaces; Two assigned spaces; Parking lot spaces; On-street parking available; Other parking types
• Utilities: Public water; Public sewer; Electric hot water
• Home design: End of row townhouse; Fee simple ownership
• Construction: Vinyl siding; Slab and permanent foundation
• Exterior features: Corner lot; Side yard(s); Cleared lot; Fully fenced yard (wood)

Interior

• Kitchen: Built-in microwave; Oven (single); Stove; Refrigerator; Dishwasher; Disposal; Kitchen island; Pantry
• Bedrooms: Three bedrooms on the first upper level; One bedroom on the first lower level
• Flooring: Solid hardwood; Ceramic tile; Vinyl; Carpet
• Bathrooms: Two full bathrooms on the first upper level; One full bathroom on the first lower level; One half bathroom on the main level; Three full bathrooms total; One half bathroom total
• Heating & cooling: Central heat; Heat pump(s); Electric heating fuel; Central A/C (electric)
• Interior features: Combination kitchen and dining area; Entry-level bedroom; Traditional floor plan; Kitchen island; Pantry; Recessed lighting; Sound system; Window treatments; Wood floors; Carpet
• Laundry & utility: Washer; Dryer; Intercom

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath townhouse listed at $287k.

Deal economics

• At list price, monthly cash flow is $-44 ($-523/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (23.1% below list).
• Recommended offer: $221k (23.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Falling Waters — 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 66/100 on livability (#116 in WV) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).
• This rent runs 38% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

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 $220,836 (23.1% 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.77% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $249,734
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Teague Ln	0.29mi	3/2.5 (-1)	2,060 (+1%)	2mo	$262,000	$127	75
15 Effie Ln	0.39mi	3/2.5 (-1)	2,060 (+1%)	4mo	$249,000	$121	69
193 Drexel Ct	0.19mi	4/2.5	1,880 (-8%)	7mo	$280,000	$149	68
83 Fiser Ln	0.35mi	3/2.5 (-1)	2,160 (+6%)	1mo	$260,000	$120	65
53 Effie Ln	0.35mi	3/2.0 (-1)	2,076 (+1%)	7mo	$257,000	$124	65
42 Vespucci Ln	0.11mi	3/3.0 (-1)	2,320 (+13%)	3mo	$283,000	$122	64
134 Drexel Ct	0.13mi	3/3.0 (-1)	2,324 (+14%)	2mo	$282,500	$122	63
227 Magellan Dr	0.18mi	3/2.5 (-1)	2,324 (+14%)	2mo	$275,000	$118	59
166 Magellan Dr	0.12mi	3/2.0 (-1)	2,324 (+14%)	3mo	$255,000	$110	58
52 Teague Ln	0.30mi	3/2.5 (-1)	2,280 (+11%)	5mo	$262,500	$115	54
17 Effie Ln	0.38mi	3/2.5 (-1)	2,256 (+10%)	4mo	$245,000	$109	52
47 Carmody Ln	0.63mi	3/2.5 (-1)	1,840 (-10%)	1mo	$265,000	$144	44

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: -14.1%
• Equity multiple: 0.48×
• Total profit: $-41,795
• Equity at exit: $42,793

10-year hold

• IRR: -1.1%
• Equity multiple: 0.91×
• Total profit: $-7,055
• Equity at exit: $24,815

Cash invested: $80,360 (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: 10.8×

Monthly cashflow live

• Estimated rent: $2,208 high
• Mortgage (P&I): −$1,505
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$120
• HOA: −$39
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-44

Break-even live

Break-even rent $2,264

Max offer price $279,298

Occupancy floor 97%

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: $71,750
• Closing costs: $8,610
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Magellan Dr Martinsburg, WV	3.0	2.5	1800	$1,855	$1.03	13d	1	0.15mi
293 Magellan Dr Martinsburg, WV	3.0	2.5	1882	$1,850	$0.98	21d	1	0.23mi
368 Pineda Ln Martinsburg, WV	3.0–4.0	3.5	1933	$2,674	$1.38	1d	6	0.26mi
72 Chennault Trl Falling Waters, WV	3.0	2.5	1718	$1,850	$1.08	21d	1	1.18mi
135 Dripping Spring Dr Hedgesville, WV	4.0	3.5	2345	$2,300	$0.98	21d	1	1.34mi
105 Dripping Spring Dr Hedgesville, WV	3.0	2.5	1967	$2,130	$1.08	21d	1	1.35mi
37 Kitsune BLVD Martinsburg, WV	3.0	2.5	1500	$2,200	$1.47	13d	10	1.41mi

HOA detail

• Monthly dues: $39 · $468/yr

Listing history 2 events

1. 2026-05-30
   status $287,000 Pending 2 DOM
2. 2026-05-22
   historical $287,000

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,693 · $141/mo
• Expected delta: +$199/yr (+$17/mo · 13.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $26,500
• − Mortgage interest: −$16,076
• − Property taxes: −$1,495
• − Insurance: −$1,435
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − HOA: −$468
• − Depreciation: −$8,349
• Taxable loss: −$5,563
• Est. tax savings @ 24.0%: +$1,335
• After-tax cash flow: $812/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 — Falling Waters

• Score: 66/100
• State rank: #116
• US rank: #12314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berkeley County · 85,235 people
• City population: 13,201
• 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

1 event — show timeline

• 2026-05-22 Coming Soon $287,000 BRIGHT MLS

Property tax history

+10.9%/yr

Latest (2025): $1,495 · +3.4% YoY. Source: county tax records.