1522 Parson Grove Church Rd · Wadesboro, NC 28170

$180,000

3 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 117 Days on market

Built 1976 0.68 ac lot Est $204k · 12% 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 +21.1/30.0
• ARV discount +12.8/15.0
• Appreciation +10.0/10.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks MLS

Great investment opportunity just outside of city limits! This brick home is situated on a little over half an acre, offering endless potential for investors, flippers, or buyers looking to renovate and make it their own. With a solid exterior and spacious lot, this property provides the perfect foundation for your next project. Enjoy the peace of rural living while still being conveniently located near town. Don't miss your chance to bring this home back to life and build equity!

Key facts

• 0.68 acre lot
• Built 1976
• Listed 117 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport
• Utilities: Public water; Private sewer with septic installed
• Home design: Single-family residence; One-story; Site built
• Construction: Brick exterior; Composition roof; Crawl space foundation
• Exterior features: Lot of approximately 0.68 acres; Roads are a mix of dirt and paved; Publicly maintained road access

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 8 total rooms; Entry level: Main
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/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 $168k (6.8% below list).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 6.2% in Wadesboro — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime F, amenities F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lilesville Elementary (math 17% / reading 37%, grade F, #1,033 of 1,410 statewide, top 76%, 215 students, 99% FRL); Anson Middle (math 16% / reading 31%, grade F, #402 of 475 statewide, top 85%, 701 students, 100% FRL); Anson High School (math 22% / reading 22%, grade F, #484 of 535 statewide, top 91%, 655 students, 98% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Anson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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 117 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $180k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% 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 $163,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 0.93% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $204,228
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1931 Mcrae Ave	0.31mi	3/2.0	1,103 (+0%)	20mo	$205,000	$186	64
428 Bennett Rd	0.46mi	3/1.0	1,028 (-6%)	20mo	$187,860	$183	52

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: 28.7%
• Equity multiple: 3.27×
• Total profit: $114,347
• Equity at exit: $162,158

10-year hold

• IRR: 25.0%
• Equity multiple: 7.42×
• Total profit: $323,675
• Equity at exit: $349,700

Cash invested: $50,400 (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 28170

• Home prices YoY: 5.8%
• Active inventory: 87
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,678 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $257

Break-even live

Break-even rent $1,352

Max offer price $180,000

Occupancy floor 80%

Sensitivity live

Price	-10% $359	-5% $308	+0% $257	+5% $207	+10% $156
Rent	-10% $125	-5% $191	+0% $257	+5% $324	+10% $390
Rate	-1.0pp $348	-0.5pp $303	base $257	+0.5pp $211	+1.0pp $163

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $180,000 Active 117 DOM
2. 2026-06-21
   days on market $180,000 Active 116 DOM
3. 2026-06-18
   days on market $180,000 Active 114 DOM
4. 2026-06-17
   days on market $180,000 Active 113 DOM
5. 2026-06-16
   days on market $180,000 Active 112 DOM
6. 2026-06-16
   status $180,000 Active 111 DOM
7. 2026-05-23
   status Pending
8. 2026-05-12
   price $180,000
9. 2026-04-28
   price $185,000
10. 2026-04-20
    price $190,000
11. 2026-03-16
    status Active
12. 2026-03-13
    status Pending
13. 2026-02-25
    price $195,000
14. 2026-01-30
    listed $200,000 Active
15. 2026-01-29
    historical $200,000
16. 2025-07-28
    soldstatus $85,000 Closed 485-char remark

    Show marketing remark (485 chars)

    Great investment opportunity just outside of city limits! This brick home is situated on a little over half an acre, offering endless potential for investors, flippers, or buyers looking to renovate and make it their own. With a solid exterior and spacious lot, this property provides the perfect foundation for your next project. Enjoy the peace of rural living while still being conveniently located near town. Don't miss your chance to bring this home back to life and build equity!

17. 2025-07-28
    soldstatus $85,000

    Show marketing remark (485 chars)

    Great investment opportunity just outside of city limits! This brick home is situated on a little over half an acre, offering endless potential for investors, flippers, or buyers looking to renovate and make it their own. With a solid exterior and spacious lot, this property provides the perfect foundation for your next project. Enjoy the peace of rural living while still being conveniently located near town. Don't miss your chance to bring this home back to life and build equity!

18. 2025-07-08
    status Pending 485-char remark

    Show marketing remark (485 chars)

    Great investment opportunity just outside of city limits! This brick home is situated on a little over half an acre, offering endless potential for investors, flippers, or buyers looking to renovate and make it their own. With a solid exterior and spacious lot, this property provides the perfect foundation for your next project. Enjoy the peace of rural living while still being conveniently located near town. Don't miss your chance to bring this home back to life and build equity!

19. 2025-06-27
    listed $69,900 Active 485-char remark

    Show marketing remark (485 chars)

    Great investment opportunity just outside of city limits! This brick home is situated on a little over half an acre, offering endless potential for investors, flippers, or buyers looking to renovate and make it their own. With a solid exterior and spacious lot, this property provides the perfect foundation for your next project. Enjoy the peace of rural living while still being conveniently located near town. Don't miss your chance to bring this home back to life and build equity!

ⓘ 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: $592 · $49/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$884/yr (+$74/mo · 149.4%)

ⓘ 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 ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $20,137
• − Mortgage interest: −$10,083
• − Property taxes: −$592
• − Insurance: −$900
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − Depreciation: −$5,236
• Taxable income: $104
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $3,064/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: Anson County Schools
• NCES district ID: 3700180
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,961
• Composite: 21.41/100
• National rank: #8348
• State rank: #159 of 178 in NC

Livability — Wadesboro

• Score: 41/100
• State rank: #728
• US rank: #27112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,595

Population outlook (Anson County) Hauer SSP2

• Today (2025): 23,572 people
• By 2030: 22,384 · -5.0%
• By 2040: 19,976 · -15.3%
• By 2050: 17,803 · -24.5%
• By 2075: 13,839 · -41.3%
• By 2100: 10,890 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 38% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Russian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Anson

• 2024 margin: Toss-up / Even · D 48.4% · R 50.9%
• 2008→2024 swing: -23.5pp toward R · 2008: 20.9pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+4.2 2016: D+12.6 2012: D+25.0 2008: D+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.62%
• Current HPI: 228.7798
• 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

+157.5% since first listed

13 events — show timeline

• 2026-05-23 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $190,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-16 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-30 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-29 Coming Soon $200,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-28 Sold (Public Records) $85,000 Public Records
• 2025-07-28 Sold (MLS) $85,000 Hive MLS
• 2025-07-08 Pending — Hive MLS
• 2025-06-27 Listed $69,900 Hive MLS

Property tax history

+1.2%/yr

Latest (2025): $592 · +0.0% YoY. Source: county tax records.