301 Walnut St · Elkins, WV 26241

$49,900

1 bd · 1.0 ba · 576 sqft · SingleFamily · 16 Days on market

Built 1950 Poor condition 6,970 sqft lot Est $58k · 13% under

---

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
• ARV discount +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a fixer upper? This house has been gutted and is ready for someone with a vision to take over. This house could be used as a rental, or for a first time home buyer, or an Airbnb! It is on 2 lots, comes with a storage building, has off street parking, and a new roof was put on in 2018! There are many possibilities and lots of potential with this one! Contact listing agent for your tour!

Key facts

• Off street parking
• Storage building
• 2 lots

Tags

• 2 LOTS
• STORAGE BUILDING
• OFF STREET PARKING
• NEW ROOF

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family detached residence; 1 story
• Construction: Block and stucco construction
• Exterior features: Shingle roof; Level lot

Interior

• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating
• Interior features: Concrete flooring; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($774 rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 3.7% in Elkins — 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 74/100 on livability (#34 in WV, #4,824 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F, employment F.
• Randolph County Schools (town): math 24% / reading 35% proficiency, ranked #33 of 55 in WV (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elkins Third Ward Elementary School (math 32% / reading 37%, grade F, #148 of 377 statewide, top 49%, 305 students, 0% FRL); Elkins Middle School (math 17% / reading 32%, grade F, #84 of 109 statewide, top 81%, 569 students, 0% FRL); Elkins High School (math 27% / reading 47%, grade F, #32 of 110 statewide, top 34%, 783 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 86 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Randolph County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.55% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.93%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $57,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Orchard St	0.23mi	2/1.0 (+1)	648 (+12%)	13mo	$65,000	$100	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.64×
• Total profit: $8,930
• Equity at exit: $7,440

10-year hold

• IRR: 24.5%
• Equity multiple: 3.13×
• Total profit: $29,718
• Equity at exit: $4,314

Cash invested: $13,972 (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 26241

• Home prices YoY: -32.8%
• Active inventory: 86
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $774 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $267

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 61%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $49,900 Active 16 DOM
2. 2026-06-17
   days on market $49,900 Active 15 DOM
3. 2026-06-16
   days on market $49,900 Active 14 DOM
4. 2026-06-15
   days on market $49,900 Active 13 DOM
5. 2026-06-15
   days on market $49,900 Active 12 DOM
6. 2026-06-13
   days on market $49,900 Active 11 DOM
7. 2026-06-12
   days on market $49,900 Active 10 DOM
8. 2026-06-09
   days on market $49,900 Active 7 DOM
9. 2026-06-08
   days on market $49,900 Active 6 DOM
10. 2026-06-08
    days on market $49,900 Active 5 DOM
11. 2026-06-07
    days on market $49,900 Active 4 DOM
12. 2026-06-04
    days on market $49,900 Active 2 DOM
13. 2026-06-02
    remarks 401-char remark
14. 2026-06-02
    listed $49,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,294
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$743
• − Management: −$743
• − Depreciation: −$1,452
• Taxable income: $2,562
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $2,589/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.

Condition & rehab AI · 11 photos

Poor 20/100 Gut rehab

This fixer-upper requires extensive renovations, including new cabinets, fixtures, and landscaping. Potential buyers should consider the significant investment required for a complete renovation.

Repairs flagged

• Major Kitchen cabinets — Exposed concrete floor
• Major Bathroom fixtures — Exposed concrete floor
• Major Exterior siding — Vines growing on exterior walls
• Major Landscaping — Overgrown landscaping

Value-add opportunities

• Resale New kitchen cabinets — Modern kitchen cabinets would enhance the home's appeal
• Resale New bathroom fixtures — Modern bathroom fixtures would enhance the home's appeal
• Both Landscaping — Well-maintained landscaping would improve curb appeal and attract potential buyers
• Both Paint exterior walls — Fresh paint would improve the home's curb appeal and make it more marketable
• Both Replace windows — New windows would improve energy efficiency and enhance the home's curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Exposed concrete floor	Major	$15,000–50,000
Bathroom fixtures · Exposed concrete floor	Major	$15,000–50,000
Exterior siding · Vines growing on exterior walls	Major	$15,000–50,000
Landscaping · Overgrown landscaping	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New kitchen cabinets — Modern kitchen cabinets would enhance the home's appeal ↑
• Resale New bathroom fixtures — Modern bathroom fixtures would enhance the home's appeal ↑
• Both Landscaping — Well-maintained landscaping would improve curb appeal and attract potential buyers ↑
• Both Paint exterior walls — Fresh paint would improve the home's curb appeal and make it more marketable ↑
• Both Replace windows — New windows would improve energy efficiency and enhance the home's curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Randolph County Schools
• NCES district ID: 5401260
• Math proficiency: 24% ▼ -5.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $37,907
• Composite: 24.6/100
• National rank: #7633
• State rank: #33 of 55 in WV

Livability — Elkins

• Score: 74/100
• State rank: #34
• US rank: #4824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,221

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 28,286 people
• By 2030: 27,558 · -2.6%
• By 2040: 25,970 · -8.2%
• By 2050: 24,529 · -13.3%
• By 2075: 21,645 · -23.5%
• By 2100: 17,349 · -38.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2% Black 1%
• Common ancestry: Slovak 4% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+46.1) · D 25.9% · R 72.1% · Other 2.0%
• 2008→2024 swing: -32.1pp toward R · 2008: -14.0pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+43.5 2016: R+44.9 2012: R+29.1 2008: R+14.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.60%
• Current HPI: 144.7471
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-02 Listed $49,900 NCWVREIN