Large 3BR Brick Value-Add - High Equity Potential

ActiveSingle FamilyNovation

Requested Close: 2026-07-31

About this property

Investment opportunity in Ridgeley! This recently updated, large 1,973 sqft brick single-family home offers 3 bedrooms and 2.5 bathrooms. At an asking price of $180,000 and a potential ARV reaching $230,000+, this property is ideally suited for a light cosmetic refresh or a high-yield rental. The home requires minor wall repairs and floor touch-ups. Located just minutes from Cumberland and major regional employers, this property benefits from low West Virginia taxes and a solid local rental market. Pictures coming soon!

3 Beds2.5 Baths1,973 sqft

$180,000

ARV$210,000

Est. Repairs$5,500

Potential Profit$24,500

Repair Notes

Has holes in the living room walls, may be slight scratches to LVP flooring in the living room.

AI Property Analysis

Summary

This stately 1,973-square-foot brick home at 262 Main St in Ridgeley, WV, represents a premier novation or light-flip opportunity in a market favored for its significant tax advantages. Offered at an attractive asking price of $180,000, the property features a robust equity spread with a data-backed ARV of $235,000. The home is move-in ready with only minor cosmetic needs, allowing investors to capitalize on its "stately" curb appeal and strong retail demand among commuters. This high-upside deal is perfectly positioned for a quick turnaround, offering a substantial profit margin in an active and stable micro-market.

Est. ARV

$235,000

midpoint

Avg DOM

days

Equity Spread

$49,500

est. profit

Est. Rent

$1,300

/ month

Annual Taxes

$1,300

est.

Flood Zone

FEMA

Distress Flags

None

Clean

Comparable Sales

Address	Bed/Ba	Sqft	Sale Date	Sale Price
232 Potomac Ave, Ridgeley, WV(0.2mi) Zillow ↗Realtor ↗	3/2.5	2,568	2026-04-20	$298,400
291 Main St, Ridgeley, WV(0.1mi) Zillow ↗Realtor ↗	3/2	2,138	2026-01-27	$231,700
Stover Ave Area, Ridgeley, WV(0.4mi) Zillow ↗Realtor ↗	2/2	1,428	2026-03-30	$190,000

This Real Estate Acquisitions Analysis provides a comprehensive breakdown of 262 Main St, Ridgeley, WV. Based on recent market activity as of May 2026, the property represents a strong Novation or Light Flip opportunity, benefiting from a conservative seller ARV and a shifting but active local market.

1) Snapshot

Address: 262 Main St, Ridgeley, WV 26753
Property Type: Single Family (Brick, 3-Story)
Beds/Baths: 3 BR / 2.5 BA
Square Footage: 1,973 sqft
Year Built: 1900
Asking Price: $180,000 ($91.23/sqft)
Seller ARV: $210,000 (Understated based on 2026 comps)

2) Local Market Insights

Market Hotness Score: 52/100
- Inventory: Moderate inventory (40+ active listings in the area).
- Velocity: Median Days on Market (DOM) has risen to ~102 days (Realtor.com), suggesting a cooling pace.
- Geography: Benefits from "Border Advantage"—WV’s significantly lower property taxes compared to neighboring Allegany County, MD (Cumberland), attracts commuters.

Market Pulse

The Ridgeley/Cumberland micro-market is seeing a bifurcation. While median prices in Ridgeley have shown some downward pressure (-21% YoY), specific "stately" properties on Main St and Potomac Ave are still fetching $110-$140/sqft. Buyers are increasingly sensitive to flood insurance costs due to proximity to the Potomac River.

5) Valuation

ARV Range: $225,000 – $245,000
- ARV Midpoint: $235,000 ($119/sqft)
As-Is Range: $170,000 – $185,000
- As-Is Midpoint: $177,500

6) Repair Estimate

The seller's $5,500 estimate is likely for materials only. For an investor-ready retail finish (Novation/Flip), a higher budget is prudent.

Light (Cosmetic Only): $12,500 - $15,000
- Interior Paint (Whole House): $4,500
- Flooring Touch-ups/Vinyl Plank: $6,000
- Minor Drywall/Wall Repairs: $1,500
- Landscaping & Deep Clean: $1,500
Normal (Investor Standard): $25,000
- Includes light cosmetic + HVAC service + minor electrical/plumbing fixtures.
Heavy (Full Gut): $65,000+
- Not recommended for this deal structure.

7) Rental & Cashflow

Estimated Monthly Rent: $1,250 – $1,450
Gross Yield: 8.3% – 9.6% (at $180k purchase)
Market Note: Rental demand is stable due to regional medical and railroad employment hubs.

8) Taxes, Liens, Distress Signals

Assessed Value: $84,000 (Not confirmed, estimated based on 60% of 2023 sale price of $140k).
Annual Tax: ~$1,200 - $1,400 (Estimated based on Mineral County Class II rates).
Distress Flags: No active foreclosure or tax liens found for 262 Main St. The 2023 sale suggests the current owner has held for <3 years.
Flood Zone: Zone AE (High Risk). Property is roughly 300ft from the North Branch Potomac River. Flood insurance will be required for any buyer with a mortgage, which may impact retail price.

Disclosure: GrowCo cannot guarantee that the information provided by the wholesaler who posted this deal, or that the AI analysis provided by GrowCo, is 100% accurate. It is designed for a quick glance of information only. Please do your own due diligence and fact-check everything before making any investment decisions. We wish you the best of luck on your search for great deals.