1054 Stirewalt Rd · China Grove, NC 28023

$99,500

2 bd · 1.0 ba · 0 sqft · Other public records · 21 Days on market

Built 1983 0.67 ac lot

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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
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfect opportunity for an owner-occupant or investor! This single-wide mobile home sits on a quiet, private lot just minutes from I-85, offering the best of country living with convenient access to nearby areas. Located only 15 minutes from Mooresville and 5 minutes from the charming town of China Grove. The property features a large wooded lot and includes two spacious outbuildings, providing ample storage or workshop potential.

Key facts

• Private lot
• Large wooded lot
• 0.67 acre lot

Tags

• PRIVATE LOT
• LARGE WOODED LOT
• TWO SPACIOUS OUTBUILDINGS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: Well water; Septic system installed
• Home design: Manufactured singlewide residence; Single-story home; Residential zoning (RA)
• Construction: Manufactured construction; Metal construction materials
• Exterior features: Gravel road access; Publicly maintained road; Outbuilding on the property

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: 5 total rooms; Crawl space foundation
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $375 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.7% in China Grove — 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 75/100 on livability (#48 in NC, #4,086 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 110 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,007 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.15%
• DSCR: 1.72
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $7,707
• Equity at exit: $14,836

10-year hold

• IRR: 16.4%
• Equity multiple: 2.34×
• Total profit: $37,267
• Equity at exit: $8,603

Cash invested: $27,860 (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 28023

• Home prices YoY: -17.1%
• Active inventory: 110
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$18 /mo · $219/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $375

Break-even live

Break-even rent $736

Max offer price $99,500

Occupancy floor 64%

Sensitivity live

Price	-10% $431	-5% $403	+0% $375	+5% $347	+10% $319
Rent	-10% $279	-5% $327	+0% $375	+5% $423	+10% $471
Rate	-1.0pp $425	-0.5pp $400	base $375	+0.5pp $349	+1.0pp $323

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-22
   status Pending
2. 2026-05-01
   listed $99,500 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: $219 · $18/mo
• Projected year-2 tax: $816 · $68/mo
• Expected delta: +$597/yr (+$50/mo · 272.6%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,528
• − Mortgage interest: −$5,574
• − Property taxes: −$219
• − Insurance: −$498
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$2,895
• Taxable income: $3,019
• Est. tax owed @ 24.0%: −$724
• After-tax cash flow: $3,774/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — China Grove

• Score: 75/100
• State rank: #48
• US rank: #4086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rowan County · 103,630 people
• City population: 15,495
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 15,495
• Household income: $62,257
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 353.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 10% Black 6%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.71%
• Current HPI: 295.2376
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

2 events — show timeline

• 2026-05-22 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Listed $99,500 CANOPYMLS as Distributed by MLS Grid

Property tax history

-1.8%/yr

Latest (2018): $219 · +0.0% YoY. Source: county tax records.