1490 Glenn Carlton Rd · Wilkesboro, NC 28606

$107,000

3 bd · 2.0 ba · 1,070 sqft · Manufactured · 93 Days on market

Built 1994 1.50 ac lot ↓ 34% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Tucked away on a peaceful hilltop, this 3-bedroom, 2-bath singlewide manufactured home offers privacy and quiet country living in the Boomer area. Surrounded by nature, the setting provides a sense of seclusion that’s hard to find while still being within a reasonable drive of nearby towns and amenities. The home offers a functional layout with three bedrooms and two full bathrooms, making it a great option for a primary residence, rental investment, or a weekend getaway. While the property does need some updates and repairs, it presents an excellent opportunity for buyers looking to add value and make it their own. If you're looking for a private setting with potential and room to im

Key facts

• Functional layout
• Private setting
• 1.5 acre lot

Tags

• FUNCTIONAL LAYOUT
• PRIVATE SETTING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Well water; Septic system
• Home design: Manufactured single-family residence; One story; Crawl space foundation
• Construction: Vinyl exterior; Manufactured construction
• Exterior features: 1.5-acre lot; Road surface includes gravel and paved; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level living; Room count: 1
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $107k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $97k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 2.4% in Wilkesboro — 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 69/100 on livability (#166 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D+, employment D, crime F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($740 loan paydown + $6k appreciation (5.3% local appreciation)).
• Wilkes County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($97k) 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 $97,370 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.95% ✓
• Cap rate: 17.78%
• Cash-on-cash: 41.03%
• DSCR: 2.83
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.7%
• Equity multiple: 4.06×
• Total profit: $91,820
• Equity at exit: $62,717

10-year hold

• IRR: 47.2%
• Equity multiple: 8.35×
• Total profit: $220,231
• Equity at exit: $110,002

Cash invested: $29,960 (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 28606

• Home prices YoY: 1.7%
• Active inventory: 29
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,087 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$18 /mo · $222/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $1,024

Break-even live

Break-even rent $790

Max offer price $107,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,085	-5% $1,055	+0% $1,024	+5% $872	+10% $835
Rent	-10% $859	-5% $942	+0% $1,024	+5% $1,107	+10% $1,189
Rate	-1.0pp $1,078	-0.5pp $1,052	base $1,024	+0.5pp $997	+1.0pp $968

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $107,000 Active 93 DOM
2. 2026-06-18
   days on market $107,000 Active 92 DOM
3. 2026-06-17
   days on market $107,000 Active 91 DOM
4. 2026-06-16
   days on market $107,000 Active 90 DOM
5. 2026-06-15
   days on market $107,000 Active 89 DOM
6. 2026-06-14
   days on market $107,000 Active 87 DOM
7. 2026-06-12
   days on market $107,000 Active 86 DOM
8. 2026-06-09
   days on market $107,000 Active 83 DOM
9. 2026-06-08
   days on market $107,000 Active 82 DOM
10. 2026-06-07
    days on market $107,000 Active 81 DOM
11. 2026-06-03
    days on market $107,000 Active 77 DOM
12. 2026-06-02
    days on market $107,000 Active 76 DOM
13. 2026-06-01
    days on market $107,000 Active 75 DOM
14. 2026-05-31
    days on market $107,000 Active 74 DOM
15. 2026-05-30
    days on market $107,000 Active 73 DOM
16. 2026-04-30
    price $107,000
17. 2026-03-18
    listed $115,000 Active
18. 2024-02-13
    price $138,900
19. 2024-01-27
    price $140,000
20. 2024-01-20
    price $151,500
21. 2024-01-10
    price $154,900
22. 2024-01-02
    price $162,000

ⓘ 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: $222 · $18/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$656/yr (+$55/mo · 295.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $25,041
• − Mortgage interest: −$5,994
• − Property taxes: −$222
• − Insurance: −$535
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − Depreciation: −$3,113
• Taxable income: $11,171
• Est. tax owed @ 24.0%: −$2,681
• After-tax cash flow: $9,611/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: Wilkes County Schools
• NCES district ID: 3704950
• Math proficiency: 55% ▲ 13.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $34,538
• Composite: 43.41/100
• National rank: #3017
• State rank: #59 of 178 in NC

Livability — Wilkesboro

• Score: 69/100
• State rank: #166
• US rank: #8892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,412
• Population (ZIP): 1,743

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 66,349 people
• By 2030: 64,411 · -2.9%
• By 2040: 59,800 · -9.9%
• By 2050: 54,770 · -17.5%
• By 2075: 45,211 · -31.9%
• By 2100: 36,956 · -44.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Serbian 2% Romanian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Wilkes

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.2pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+56.6 2016: R+55.2 2012: R+42.7 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.32%
• Current HPI: 318.0226
• 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

-34.0% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $107,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-18 Listed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2024-02-13 Price Changed $138,900 Triad MLS
• 2024-01-27 Price Changed $140,000 Triad MLS
• 2024-01-20 Price Changed $151,500 Triad MLS
• 2024-01-10 Price Changed $154,900 Triad MLS
• 2024-01-02 Price Changed $162,000 Triad MLS

Property tax history

+1.7%/yr

Latest (2025): $222 · +26.5% YoY. Source: county tax records.