202 Janesa Dr

Martinsburg, WV 25403

$70,000B-

2 bd · 2.0 ba · 1,000 sqft · Built 1986 · SingleFamily · Pending · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,726/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$363
• Net cashflow: $824/mo
• Annual: $9,894/yr
• Cap rate: 21.38%
• Cash-on-cash: 53.88%
• DSCR: 3.40
• 1% rule: 2.47%
• Cash to close: $19,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 54 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 255 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,460 units permitted in Berkeley County in 2024 (16 in 5+ unit buildings).
• Berkeley County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 21.4% vs local median 4.0% 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.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.