3120 Clark Ave · Franklinville, NC 27248

$179,900

2 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 27 Days on market

Built 1950 1.13 ac lot Est $219k · 18% under

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Why this score? — see what drove the C 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 +16.8/30.0
• ARV discount +15.0/15.0
• Appreciation +7.0/10.0
• DSCR +5.2/10.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming home with numerous updates! Enjoy peace of mind with a new heat pump, new kitchen appliances, and replacement windows. The partially finished basement offers added living space with a kitchen, sitting area, and full bathroom—perfect for guests or multi-generational living. Outside, you’ll find a detached wired garage/workshop ideal for hobbies or storage. All of this is set on a spacious 1 acre lot, offering plenty of room to relax and entertain!

Key facts

• New heat pump
• Spacious 1 acre lot
• Replacement windows

Tags

• NEW HEAT PUMP
• NEW KITCHEN APPLIANCES
• REPLACEMENT WINDOWS
• PARTIALLY FINISHED BASEMENT
• DETACHED WIRED GARAGE
• SPACIOUS 1 ACRE LOT

Property features AI

Finance

• Other: Lot size approximately 1.13 acres; Directions: Hwy 22 N, right on Clark Ave, home will be on the right
• HOA & community: No homeowners association

Exterior

• Parking: Detached garage (1 car); Driveway parking
• Utilities: Septic tank; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1950
• Construction: Aluminum siding; Existing structure
• Exterior features: Storage building; Public maintained road; Well water

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: Primary bedroom on main level
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Electric heating; Central air
• Interior features: Ceiling fan(s); Partially finished basement
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $59 ($714/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (16.0% below list).
• Recommended offer: $151k (16.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#451 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Randolph County School System (rural): math 43% / reading 43% proficiency, ranked #94 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklinville Elementary School (math 37% / reading 37%, grade F, #771 of 1,410 statewide, top 57%, 318 students, 69% FRL) — zoned schools average 69% FRL vs 48% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (4.0% local appreciation)).
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, 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 27 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $61k; list at $180k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; moderate wind risk, 23% 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 $151,158 (16.0% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $218,978
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 W Main St	0.21mi	2/1.0	936 (-12%)	2mo	$192,500	$206	68
213 Academy St	0.75mi	2/1.0	941 (-12%)	23mo	$172,000	$183	26

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

Projected returns pro-forma

4.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.71×
• Total profit: $35,603
• Equity at exit: $91,728

10-year hold

• IRR: 13.2%
• Equity multiple: 3.17×
• Total profit: $109,370
• Equity at exit: $150,443

Cash invested: $50,372 (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 27248

• Home prices YoY: 1.6%
• Active inventory: 22
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,512 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$61 /mo · $729/yr
• Insurance: −$75
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $59

Break-even live

Break-even rent $1,436

Max offer price $179,900

Occupancy floor 91%

Sensitivity live

Price	-10% $161	-5% $110	+0% $59	+5% $9	+10% $-42
Rent	-10% $-60	-5% $0	+0% $59	+5% $119	+10% $179
Rate	-1.0pp $150	-0.5pp $105	base $59	+0.5pp $13	+1.0pp $-35

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-16
   historical Due Diligence Period
2. 2026-05-01
   listed $179,900 Active
3. 2010-06-09
   soldstatus $61,000
4. 2005-11-29
   soldstatus $60,000

ⓘ 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: $729 · $61/mo
• Projected year-2 tax: $1,475 · $123/mo
• Expected delta: +$746/yr (+$62/mo · 102.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,139
• − Mortgage interest: −$10,077
• − Property taxes: −$729
• − Insurance: −$1,566
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$5,233
• Taxable loss: −$2,369
• Est. tax savings @ 24.0%: +$569
• After-tax cash flow: $1,282/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: Randolph County School System
• NCES district ID: 3703780
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 43% ▲ 2.00%
• Median HH income: $43,490
• Composite: 36.37/100
• National rank: #4686
• State rank: #94 of 178 in NC

Livability — Franklinville

• Score: 62/100
• State rank: #451
• US rank: #16600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,975

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Black 3% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.05%
• Current HPI: 258.7062
• 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

+199.8% since first listed

4 events — show timeline

• 2026-05-16 Contingent — Triad MLS
• 2026-05-01 Listed $179,900 Triad MLS
• 2010-06-09 Sold (Public Records) $61,000 Public Records
• 2005-11-29 Sold (Public Records) $60,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $729 · +0.0% YoY. Source: county tax records.