Co-own real estate report: Harpers Ferry, West Virginia

Looking for a small town with a big history? Then look no further.

While the population of Harpers Ferry, West Virginia, may only be a few hundred people, it packs a punch when it comes to history and natural beauty. Harpers Ferry is situated in the middle of two major rivers: the Shenandoah and the Potomac Rivers, which are also the state borders. Harpers Ferry is home to some historic buildings, monuments, landmarks, and a charming little downtown district, and it makes for a great day trip or weekend destination. You may feel like you’re stepping back into time, as history lives on in this attractive town. With steep cobblestoned streets, you’ll get a taste of 19^th-century, small-town life.

The town is dotted with cafes, shops, and bed and breakfasts. Located next to the Appalachian Trail, there are also plenty of outdoor activities, like hiking, biking, kayaking, whitewater rafting, tubing, ziplining and so much more.

Not only is it fun to visit, but it has been named a top place to co-own a home, too. More on that below.

What makes Harpers Ferry attractive for co-buying

This quaint West Virginia town sits at the confluence of the Potomac and Shenandoah rivers. Each year, according to the National Park Service (NPS), more than 400,000 visitors explore the history and natural beauty of Harpers Ferry National Park. This number has steadily grown from what used to be nearly 242,000 visitors in 2005.

Additionally, Mashvisor recently named Harpers Ferry among its list of the top 5 best cities or towns to buy a short-term rental (STR) property. The area is considered one of the best Airbnb markets this year. That is because it offers an average 7.88% cash-on-cash return. Or, put simply, cash-on-cash return measures the annual return the investor made on the property in relation to the amount of mortgage paid during the same year. 

Check out some of the latest real estate statistics for Harpers Ferry below.

-3.3% median sale price year over year (meaning now is a good time to buy in this area)

71 / 100 or very competitive housing market

$325,000 median home sale price

41 days on the market (on average) before the sale

109.9% sale-to-list price

Homebuyers moving to Harpers Ferry from New York, San Francisco and Omaha

Short-term rentals in Harpers Ferry

Harpers Ferry short-term rental statistics include:

60% occupancy rate on Airbnb

$218 average daily rate

$3,400 average monthly revenue on Airbnb

78 / 100 rental demand

85% are entire home rentals

47% of listings are on Airbnb, 20% on Vrbo, and 33% are listed on both

Harpers Ferry is an increasingly popular short-term rental (STR) market. STR regulations and requirements vary by city, so please research or consult with local Harpers Ferry websites for additional information.

What to see in Harpers Ferry

Harpers Ferry National Historical Park

Harpers Ferry National Historical Park is in and surrounds Harpers Ferry and is the perfect place to spend a day or a weekend. It is home to nearly 4,000 acres of land, which bridges history and nature. Whether you want to experience John Brown’s Raid, explore the rolling Blue Ridge Mountains, stroll the picturesque streets, hike the trails or battlefields, there is something for everyone. 

Maryland Heights

Maryland Heights, a scenic overlook on a hiking trail, provides an unbelievable view of Harpers Ferry and the meeting of the Shenandoah and Potomac Rivers. For an even more unforgettable experience, visit at sunset! The trail is free but parking has a small fee. The views are well worth the price of parking, though. If you do the moderate hike, allow yourself a few hours.

Maggie Malick Wine Caves

Maggie Malick Wine Caves is a female-owned winery home to excellent food, live music and friendly staff. What’s unique about this destination is that it is a wine cave located on a beautiful 215-acre estate with rolling hills and four ponds. Some of those who have visited recommend the Tango and the Unoaked Chardonnay but there are plenty of other choices for every wine connoisseur. 

Harpers Ferry

Nearby cities

• Baltimore – 1 hour
• Washington D.C. – 1 hour
• Philadelphia – 2.5 hours
• Richmond – 2.5 hours
• Pittsburgh – 3 hours
  

Harpers Ferry co-buy opportunities

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577 Thumper Dr., Ranson, WV 25438

Asking price: $299,999

Estimated down payment: $60,000

Estimated mortgage: $1,731/month

Estimated rental revenue: $2,026

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139 National St., Ranson, WV 25438

Asking price: $441,275

Estimated down payment: $88,255

Estimated mortgage: $2,546/month

Estimated rental revenue: $2,536/month

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163 Wintergreen Way, Charles Town, WV 25414

Asking price: $619,990

Estimated down payment: $123,998

Estimated mortgage: $3,577/month

Estimated Airbnb revenue: $4,191/month

Sources:

Harpers Ferry Vacation Rental Data 

Harpers Ferry Housing Market Data

Nestment, Inc. does not guarantee and is in no way responsible for the accuracy of information provided in this blog post. All information is provided “AS IS” and with all faults. Data presented here may not reflect all real estate activity in the market.  While the information on this site is about legal and tax issues, it is not intended as legal or tax advice or as a substitute for the particularized advice of your own attorney and tax professional.

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