1024 Frans Rd · Pilot Mountain, NC 27053

$215,000

4 bd · 2.0 ba · 2,052 sqft · SingleFamily public records · 80 Days on market

Built 2001 1.75 ac lot Est $300k · 28% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.1/10.0

Listing remarks

* * * JUDICIAL SALE * * * An acceptable offer will be submitted and will be subject to a 10 day upset bid period. 10% deposit is required. No FHA, VA, or USDA loans. This 4 bedroom 2001 manufactured home sits on 1.75 acres. According to seller, roof, HVAC, well pump, refrigerator, microwave, and dishwasher have all been replaced within the last 5 years. Flowering trees and plants abound on the property. Home is being sold "as is" with no repairs being offered.

Key facts

• Hvac replaced
• Dishwasher replaced
• Microwave replaced

Tags

• ROOF REPLACED
• HVAC REPLACED
• WELL PUMP REPLACED
• REFRIGERATOR REPLACED
• MICROWAVE REPLACED
• DISHWASHER REPLACED

Property features AI

Finance

• Other: Property is residential manufactured housing; Building area reported as 2,052 (unit omitted); Total of 8 rooms
• HOA & community: No homeowners association

Exterior

• Parking: No garage; field parking
• Utilities: Septic tank sewer; Electric water heater (listed under utilities); Well water
• Home design: Manufactured home (double wide); Single-story; Built in 2001; Existing structure; Publicly maintained road access
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: No fencing; Well water

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Primary bedroom located on the main level; Crawl space basement; One fireplace in the great room
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (23.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (39.2% below list).
• Recommended offer: $131k (39.2% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.2% in Pilot Mountain — 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 65/100 on livability (#309 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: schools D+, amenities F, commute F.
• Stokes County Schools (rural): math 48% / reading 46% proficiency, ranked #78 of 178 in NC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 230 units permitted in Stokes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Stokes County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,709 (39.2% 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. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.61% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.59%
• DSCR: 0.75
• GRM: 13.7

CMA / ARV

• ARV (on-the-fly): $299,592
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1037 Frans Rd	0.07mi	4/3.0	2,052 (0%)	14mo	$299,900	$146	81

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $99,143
• Equity at exit: $193,689

10-year hold

• IRR: 18.5%
• Equity multiple: 6.08×
• Total profit: $305,836
• Equity at exit: $417,698

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27053

• Home prices YoY: 9.6%
• Active inventory: 34
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-281

Break-even live

Break-even rent $1,662

Max offer price $165,447

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $215,000 Active 80 DOM
2. 2026-06-18
   days on market $215,000 Active 79 DOM
3. 2026-06-17
   days on market $215,000 Active 78 DOM
4. 2026-06-16
   days on market $215,000 Active 77 DOM
5. 2026-06-15
   days on market $215,000 Active 76 DOM
6. 2026-06-14
   days on market $215,000 Active 74 DOM
7. 2026-06-12
   days on market $215,000 Active 73 DOM
8. 2026-06-09
   days on market $215,000 Active 70 DOM
9. 2026-06-08
   days on market $215,000 Active 69 DOM
10. 2026-06-07
    days on market $215,000 Active 68 DOM
11. 2026-06-05
    days on market $215,000 Active 65 DOM
12. 2026-06-02
    days on market $215,000 Active 63 DOM
13. 2026-06-01
    pricedays on market $215,000 Active 62 DOM
14. 2026-05-31
    days on market $230,000 Active 61 DOM
15. 2026-05-30
    days on market $230,000 Active 60 DOM
16. 2026-03-31
    listed $230,000 Active

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,153 · $96/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$610/yr (+$51/mo · 53.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,685
• − Mortgage interest: −$12,043
• − Property taxes: −$1,153
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$6,255
• Taxable loss: −$7,350
• Est. tax savings @ 24.0%: +$1,764
• After-tax cash flow: $-1,602/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: Stokes County Schools
• NCES district ID: 3704380
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $42,284
• Composite: 39.58/100
• National rank: #3928
• State rank: #78 of 178 in NC

Livability — Pilot Mountain

• Score: 65/100
• State rank: #309
• US rank: #12831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,187

Population outlook (Stokes County) Hauer SSP2

• Today (2025): 44,106 people
• By 2030: 42,264 · -4.2%
• By 2040: 37,833 · -14.2%
• By 2050: 32,818 · -25.6%
• By 2075: 23,281 · -47.2%
• By 2100: 15,676 · -64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 3% Two or more races 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 1%
• Foreign-born: 0%

Political lean MEDSL · Stokes

• 2024 margin: Solid R (+59.6) · D 19.8% · R 79.4%
• 2008→2024 swing: -24.6pp toward R · 2008: -35.0pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+57.8 2016: R+55.6 2012: R+42.9 2008: R+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.60%
• Current HPI: 292.0449
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

1 event — show timeline

• 2026-03-31 Listed $230,000 Triad MLS

Property tax history

+4.8%/yr

Latest (2025): $1,153 · +24.9% YoY. Source: county tax records.