4131 Morton Ln · Franklinton, NC 27525

$137,000

3 bd · 2.0 ba · 1,960 sqft · Manufactured public records · 195 Days on market

Built 1989 0.92 ac lot ↓ 27% 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
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 3-bedroom, 2-bath home offers a functional single-level layout with defined living spaces and a practical flow between the main gathering areas and bedrooms. Natural light supports the interior living areas, and the lot provides outdoor space suitable for general use or future improvements. Located with access to local services in Franklinton, nearby parks, and regional routes for travel to Rolesville, Wake Forest, and surrounding areas. A property positioned for everyday living and convenience. Schedule your showing today!

Key facts

• Natural light
• Nearby parks
• Single-level layout

Tags

• SINGLE-LEVEL LAYOUT
• DEFINED LIVING SPACES
• NATURAL LIGHT
• OUTDOOR SPACE
• ACCESS TO LOCAL SERVICES
• NEARBY PARKS

Property features AI

Finance

• Other: Property sits on approximately 0.92 acres; Living area approximately 1,925; Publicly recorded above-grade finished area
• HOA & community: No association

Exterior

• Parking: Other parking
• Utilities: Well water; Septic tank
• Home design: Single-story house (manufactured house); Updated/remodeled condition; AR 40 zoning
• Construction: Wood siding; Composition roof; Pillar/post/pier foundation; Built as a manufactured house
• Exterior features: Deck; Back yard fencing; Wooded vegetation; Horse-friendly

Interior

• Kitchen: Kitchen/dining room combination
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ceiling fans and electric cooling
• Interior features: Ceiling fans; Kitchen/dining room combination; Walk-in closets; Living room fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.1% in Franklinton — 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 61/100 on livability (#491 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Granville County Schools (rural): math 28% / reading 36% proficiency, ranked #137 of 178 in NC (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: G. C. Hawley Middle (math 34% / reading 44%, grade F, #238 of 475 statewide, top 51%, 486 students, 59% FRL); South Granville High (math 52% / reading 52%, grade D+, #292 of 535 statewide, top 56%, 709 students, 48% FRL) — zoned schools at 53% FRL track the district average.
• Zoned-school proficiency averages 46% at this address vs 32% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Granville County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 252 active listings in the ZIP; 428 units permitted in Granville County in 2024 (120 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($947 loan paydown + $12k appreciation (8.4% local appreciation)).
• At projected returns (8.4% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% 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 F-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 D 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: 1.27% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.58%
• DSCR: 1.74
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $297,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4506 Nc Hwy 56	0.65mi	4/2.0 (+1)	1,822 (-7%)	22mo	$277,000	$152	35

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

Projected returns pro-forma

8.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.7%
• Equity multiple: 3.45×
• Total profit: $93,859
• Equity at exit: $108,034

10-year hold

• IRR: 29.8%
• Equity multiple: 7.45×
• Total profit: $247,414
• Equity at exit: $218,328

Cash invested: $38,360 (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 27525

• Home prices YoY: 3.0%
• Active inventory: 252
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$718
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $530

Break-even live

Break-even rent $1,064

Max offer price $137,000

Occupancy floor 64%

Sensitivity live

Price	-10% $607	-5% $569	+0% $530	+5% $491	+10% $452
Rent	-10% $393	-5% $461	+0% $530	+5% $598	+10% $667
Rate	-1.0pp $599	-0.5pp $565	base $530	+0.5pp $494	+1.0pp $458

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $137,000 Active 195 DOM
2. 2026-06-18
   days on market $137,000 Active 192 DOM
3. 2026-06-17
   days on market $137,000 Active 191 DOM
4. 2026-06-16
   days on market $137,000 Active 190 DOM
5. 2026-06-15
   days on market $137,000 Active 189 DOM
6. 2026-06-13
   days on market $137,000 Active 187 DOM
7. 2026-06-13
   days on market $137,000 Active 186 DOM
8. 2026-06-09
   days on market $137,000 Active 183 DOM
9. 2026-06-08
   days on market $137,000 Active 182 DOM
10. 2026-06-07
    days on market $137,000 Active 181 DOM
11. 2026-06-05
    days on market $137,000 Active 178 DOM
12. 2026-06-03
    days on market $137,000 Active 177 DOM
13. 2026-06-02
    days on market $137,000 Active 176 DOM
14. 2026-06-01
    days on market $137,000 Active 175 DOM
15. 2026-05-31
    days on market $137,000 Active 174 DOM
16. 2026-03-26
    price $153,000
17. 2026-02-26
    price $170,100
18. 2026-01-23
    price $189,000
19. 2025-12-08
    listed $210,000 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: $784 · $65/mo
• Projected year-2 tax: $1,123 · $94/mo
• Expected delta: +$339/yr (+$28/mo · 43.3%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,821
• − Mortgage interest: −$7,674
• − Property taxes: −$784
• − Insurance: −$685
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − Depreciation: −$3,985
• Taxable income: $4,361
• Est. tax owed @ 24.0%: −$1,047
• After-tax cash flow: $5,312/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: Granville County Schools
• NCES district ID: 3701800
• Math proficiency: 28% ▼ -1.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $49,713
• Composite: 27.81/100
• National rank: #6887
• State rank: #137 of 178 in NC

Livability — Franklinton

• Score: 61/100
• State rank: #491
• US rank: #18002

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Franklin County · 64,885 people
• City population: 17,110
• Metro: Raleigh-Cary, NC
• Population (ZIP): 17,110
• Household income: $73,036
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 446.0

Population outlook (Granville County) Hauer SSP2

• Today (2025): 60,753 people
• By 2030: 61,381 · +1.0%
• By 2040: 61,861 · +1.8%
• By 2050: 61,261 · +0.8%
• By 2075: 59,948 · -1.3%
• By 2100: 55,273 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 24% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Granville

• 2024 margin: Lean R (+9.4) · D 44.8% · R 54.2%
• 2008→2024 swing: -16.0pp toward R · 2008: 6.6pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+6.6 2016: R+2.5 2012: D+4.6 2008: D+6.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.42%
• Current HPI: 294.1531
• Rent YoY: —
• Metro: Raleigh-Cary, NC
• 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

-27.1% since first listed

4 events — show timeline

• 2026-03-26 Price Changed $153,000 TMLS
• 2026-02-26 Price Changed $170,100 TMLS
• 2026-01-23 Price Changed $189,000 TMLS
• 2025-12-08 Listed $210,000 TMLS

Property tax history

+9.1%/yr

Latest (2025): $784 · +2.2% YoY. Source: county tax records.