220 N Russell St · Troy, NC 27371

$220,000

3 bd · 2.0 ba · 1,688 sqft · SingleFamily public records · 90 Days on market

Built 1979 0.38 ac lot Est $241k · 9% under ↓ 4% since listing

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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 +11.5/15.0
• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.4/10.0

Listing remarks

Below Appraisal! Enjoy easy one-level living in the heart of Troy, NC. This ranch home sits on a spacious, level lot just minutes from downtown shops, restaurants, medical facilities, and nearby Badin Lake and Lake Tillery. Inside, you’ll find 2 bedrooms, 2 full bathrooms, a comfortable living area with gas log fireplace, and a large utility/laundry room with built-in storage. The flexible floorplan offers potential for a third bedroom, office, play room, or additional living space to fit your needs. Step outside to enjoy the private screened porch overlooking the backyard, perfect for morning coffee or relaxing evenings. A detached workshop provides excellent space for hobbies, tool

Key facts

• 0.38 acre lot
• Garage
• Built 1979

Property features AI

Finance

• Other: Zoned residential; Lot about 0.38 acres
• HOA & community: No HOA

Exterior

• Parking: Attached garage with garage door opener, faces front (1 garage space)
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built, one level (no interior steps); Accessible features: 32-inch door widths and 36-inch hall widths
• Construction: Aluminum and vinyl exterior materials; Crawl space foundation; Site-built construction
• Exterior features: Rear screened porch; Workshop on the property; Publicly maintained paved road with concrete surface

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric baseboard heating; Central air conditioning; Ceiling fan(s)
• Interior features: Built-in features; Gas log fireplace in the living room; Seven total rooms; Storage room on main level
• Laundry & utility: Main-level utility/laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (36.4% below list).
• Recommended offer: $140k (36.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#181 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000 (36.4% 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 90 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $241,384
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Bruton St	0.22mi	3/1.5	1,706 (+1%)	3mo	$215,000	$126	83
304 Taft St	0.40mi	3/2.0	1,848 (+10%)	9mo	$264,000	$143	58
229 Byrd St	0.28mi	4/2.0 (+1)	1,587 (-6%)	17mo	$170,000	$107	58
106 Charles St	0.51mi	3/2.0	1,614 (-4%)	16mo	$206,100	$128	56
318 S Lineberry St	0.34mi	4/2.0 (+1)	1,838 (+9%)	13mo	$280,000	$152	54
325 S Lineberry St	0.40mi	3/3.0	1,761 (+4%)	20mo	$307,000	$174	53
518 Oak St	0.71mi	3/1.5	1,680 (-0%)	15mo	$190,000	$113	52
440 Troy Candor Rd	0.65mi	3/2.5	1,470 (-13%)	5mo	$228,000	$155	42
313 Taft St	0.44mi	3/2.0	1,449 (-14%)	23mo	$283,000	$195	37
736 Bruton St	0.58mi	3/2.0	1,440 (-15%)	20mo	$190,000	$132	32

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: 21.6%
• Equity multiple: 2.74×
• Total profit: $107,333
• Equity at exit: $198,193

10-year hold

• IRR: 19.4%
• Equity multiple: 6.29×
• Total profit: $325,579
• Equity at exit: $427,412

Cash invested: $61,600 (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 27371

• Home prices YoY: 13.6%
• Active inventory: 48
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-194

Break-even live

Break-even rent $1,646

Max offer price $185,688

Occupancy floor —

Sensitivity live

Price	-10% $-70	-5% $-132	+0% $-194	+5% $-256	+10% $-319
Rent	-10% $-305	-5% $-250	+0% $-194	+5% $-139	+10% $-84
Rate	-1.0pp $-83	-0.5pp $-138	base $-194	+0.5pp $-251	+1.0pp $-309

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
720 S Main St Troy, NC	2.0	1.0	1192	$1,400	$1.17	24d	1	0.61mi

Listing history 19 events

1. 2026-06-18
   days on market $220,000 Active 90 DOM
2. 2026-06-17
   days on market $220,000 Active 89 DOM
3. 2026-06-16
   days on market $220,000 Active 88 DOM
4. 2026-06-15
   days on market $220,000 Active 87 DOM
5. 2026-06-14
   days on market $220,000 Active 85 DOM
6. 2026-06-13
   pricedays on market $220,000 Active 84 DOM
7. 2026-06-10
   days on market $239,000 Active 82 DOM
8. 2026-06-09
   days on market $239,000 Active 81 DOM
9. 2026-06-08
   days on market $239,000 Active 80 DOM
10. 2026-06-07
    days on market $239,000 Active 79 DOM
11. 2026-06-05
    days on market $239,000 Active 76 DOM
12. 2026-06-03
    days on market $239,000 Active 75 DOM
13. 2026-06-02
    days on market $239,000 Active 74 DOM
14. 2026-06-01
    days on market $239,000 Active 73 DOM
15. 2026-05-31
    days on market $239,000 Active 72 DOM
16. 2026-05-31
    days on market $239,000 Active 71 DOM
17. 2026-04-29
    price $239,000
18. 2026-03-21
    listed $249,000 Active
19. 2026-03-19
    historical $249,000

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $1,804 · $150/mo
• Expected delta: +$1,146/yr (+$95/mo · 174.0%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,800
• − Mortgage interest: −$12,323
• − Property taxes: −$658
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$6,400
• Taxable loss: −$6,370
• Est. tax savings @ 24.0%: +$1,529
• After-tax cash flow: $-802/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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Troy

• Score: 68/100
• State rank: #181
• US rank: #9235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NC
• Population (ZIP): 7,842

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 26,533 people
• By 2030: 25,724 · -3.0%
• By 2040: 23,842 · -10.1%
• By 2050: 22,077 · -16.8%
• By 2075: 18,754 · -29.3%
• By 2100: 15,537 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 14% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+37.8) · D 30.8% · R 68.6%
• 2008→2024 swing: -26.9pp toward R · 2008: -11.0pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+31.8 2016: R+25.9 2012: R+15.2 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.24%
• Current HPI: 328.2084
• 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

-4.0% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $239,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-21 Listed $249,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-19 Coming Soon $249,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2025): $658 · +0.0% YoY. Source: county tax records.