40 Earls Ln · Lansing, NC 24292

$85,000

2 bd · 1.0 ba · 784 sqft · Other · 18 Days on market

Built 1979 0.76 ac lot

---

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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Appreciation +5.9/10.0
• Schools +5.9/10.0
• 1% rule +5.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy privacy and beauty in Whitetop Virginia with a large deck wrapping around that provides the perfect spot for tranquility and the views in every season. This mobile home boasts 2 bdrms, 1 bath, eat in kitchen, dining bar, large great room area with built in hutch, side entry into mud room. Stove, refrigerator, washer and dryer are included. Custom barn with electric can be finished into a private studio or office. Detached 2 car carport and a shed. Nestled in the mountains of Southwest Virginia off of Virginia's historic Route #58, less than 1 mile to The start of the Virginia Creeper Trail at Whitetop Station. Wildlife and endless recreation for the outdoor enthusiasts such as: Hiking, Biking, Trophy Deer Hunting & premier fishing, swimming or enjoying the peace and quiet. Minutes to the Appalachian Trail, Mount Rogers Mountain, Whitetop Mountain and Grayson Highlands State Park, home of the world renowned wild ponies and the Back of the Dragon Motorcycle Trail

Key facts

• Carport
• Usable outdoor space
• Storage shed

Tags

• VIRGINIA CREEPER TRAIL
• MATURE TREES
• USABLE OUTDOOR SPACE
• WORKSHOP
• STORAGE SHED
• CARPORT

Property features AI

Exterior

• Utilities: Private well water
• Home design: Manufactured house; Single-family residence; Single-story
• Construction: Metal siding
• Exterior features: Rolling and steep slope topography; Rubber roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Window air conditioning units
• Interior features: Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 1.7% in Lansing — 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 60/100 on livability (#514 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Grayson County Public School District (rural): math 68% / reading 76% proficiency, ranked #27 of 131 in VA (top 21%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Grayson Highlands (math 82% / reading 82%, grade A+, #106 of 1,108 statewide, top 11%, 149 students, 88% FRL); Grayson County High (math 82% / reading 82%, grade A, #40 of 319 statewide, top 15%, 465 students, 87% FRL) — zoned schools average 88% FRL vs 53% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 38 units permitted in Grayson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($588 loan paydown + $1k appreciation (1.7% local appreciation)).
• Grayson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $59k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.05% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.52×
• Total profit: $12,337
• Equity at exit: $32,318

10-year hold

• IRR: 13.0%
• Equity multiple: 2.70×
• Total profit: $40,526
• Equity at exit: $45,628

Cash invested: $23,800 (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 24292

• Home prices YoY: 0.9%
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $120

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 82%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-13
   status $85,000 Pending 18 DOM
2. 2026-06-12
   days on market $85,000 Active 18 DOM
3. 2026-06-09
   days on market $85,000 Active 15 DOM
4. 2026-06-08
   days on market $85,000 Active 14 DOM
5. 2026-06-08
   days on market $85,000 Active 13 DOM
6. 2026-06-07
   days on market $85,000 Active 12 DOM
7. 2026-06-03
   days on market $85,000 Active 9 DOM
8. 2026-06-02
   days on market $85,000 Active 8 DOM
9. 2026-06-01
   days on market $85,000 Active 7 DOM
10. 2026-05-31
    days on market $85,000 Active 6 DOM
11. 2026-05-26
    listed $85,000 Active
12. 2023-05-23
    soldstatus $59,000 Closed 990-char remark

    Show marketing remark (990 chars)

    Enjoy privacy and beauty in Whitetop Virginia with a large deck wrapping around that provides the perfect spot for tranquility and the views in every season. This mobile home boasts 2 bdrms, 1 bath, eat in kitchen, dining bar, large great room area with built in hutch, side entry into mud room. Stove, refrigerator, washer and dryer are included. Custom barn with electric can be finished into a private studio or office. Detached 2 car carport and a shed. Nestled in the mountains of Southwest Virginia off of Virginia's historic Route #58, less than 1 mile to The start of the Virginia Creeper Trail at Whitetop Station. Wildlife and endless recreation for the outdoor enthusiasts such as: Hiking, Biking, Trophy Deer Hunting & premier fishing, swimming or enjoying the peace and quiet. Minutes to the Appalachian Trail, Mount Rogers Mountain, Whitetop Mountain and Grayson Highlands State Park, home of the world renowned wild ponies and the Back of the Dragon Motorcycle Trail

13. 2023-05-23
    soldstatus $59,000

    Show marketing remark (990 chars)

    Enjoy privacy and beauty in Whitetop Virginia with a large deck wrapping around that provides the perfect spot for tranquility and the views in every season. This mobile home boasts 2 bdrms, 1 bath, eat in kitchen, dining bar, large great room area with built in hutch, side entry into mud room. Stove, refrigerator, washer and dryer are included. Custom barn with electric can be finished into a private studio or office. Detached 2 car carport and a shed. Nestled in the mountains of Southwest Virginia off of Virginia's historic Route #58, less than 1 mile to The start of the Virginia Creeper Trail at Whitetop Station. Wildlife and endless recreation for the outdoor enthusiasts such as: Hiking, Biking, Trophy Deer Hunting & premier fishing, swimming or enjoying the peace and quiet. Minutes to the Appalachian Trail, Mount Rogers Mountain, Whitetop Mountain and Grayson Highlands State Park, home of the world renowned wild ponies and the Back of the Dragon Motorcycle Trail

14. 2023-04-27
    status Pending 990-char remark

    Show marketing remark (990 chars)

    Enjoy privacy and beauty in Whitetop Virginia with a large deck wrapping around that provides the perfect spot for tranquility and the views in every season. This mobile home boasts 2 bdrms, 1 bath, eat in kitchen, dining bar, large great room area with built in hutch, side entry into mud room. Stove, refrigerator, washer and dryer are included. Custom barn with electric can be finished into a private studio or office. Detached 2 car carport and a shed. Nestled in the mountains of Southwest Virginia off of Virginia's historic Route #58, less than 1 mile to The start of the Virginia Creeper Trail at Whitetop Station. Wildlife and endless recreation for the outdoor enthusiasts such as: Hiking, Biking, Trophy Deer Hunting & premier fishing, swimming or enjoying the peace and quiet. Minutes to the Appalachian Trail, Mount Rogers Mountain, Whitetop Mountain and Grayson Highlands State Park, home of the world renowned wild ponies and the Back of the Dragon Motorcycle Trail

15. 2023-04-09
    listed $59,900 Active 990-char remark

    Show marketing remark (990 chars)

    Enjoy privacy and beauty in Whitetop Virginia with a large deck wrapping around that provides the perfect spot for tranquility and the views in every season. This mobile home boasts 2 bdrms, 1 bath, eat in kitchen, dining bar, large great room area with built in hutch, side entry into mud room. Stove, refrigerator, washer and dryer are included. Custom barn with electric can be finished into a private studio or office. Detached 2 car carport and a shed. Nestled in the mountains of Southwest Virginia off of Virginia's historic Route #58, less than 1 mile to The start of the Virginia Creeper Trail at Whitetop Station. Wildlife and endless recreation for the outdoor enthusiasts such as: Hiking, Biking, Trophy Deer Hunting & premier fishing, swimming or enjoying the peace and quiet. Minutes to the Appalachian Trail, Mount Rogers Mountain, Whitetop Mountain and Grayson Highlands State Park, home of the world renowned wild ponies and the Back of the Dragon Motorcycle Trail

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low

Taxation est. · year 1

• Rental income: $10,743
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$2,473
• Taxable income: $90
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $1,416/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: Grayson County Public School District
• NCES district ID: 5101690
• Math proficiency: 68% ▼ -20.00%
• Reading proficiency: 76% ▼ -7.00%
• Median HH income: $31,429
• Composite: 59.22/100
• National rank: #942
• State rank: #27 of 131 in VA

Livability — Lansing

• Score: 60/100
• State rank: #514
• US rank: #18836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 365

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 14,252 people
• By 2030: 13,634 · -4.3%
• By 2040: 12,202 · -14.4%
• By 2050: 10,811 · -24.1%
• By 2075: 8,069 · -43.4%
• By 2100: 5,647 · -60.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 5%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+62.2) · D 18.6% · R 80.8%
• 2008→2024 swing: -33.7pp toward R · 2008: -28.5pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+61.4 2016: R+57.7 2012: R+37.9 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.74%
• Current HPI: 187.1052
• 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

+41.9% since first listed

5 events — show timeline

• 2026-05-26 Listed $85,000 TVRMLS
• 2023-05-23 Sold (Public Records) $59,000 Public Records
• 2023-05-23 Sold (MLS) $59,000 SWVAR
• 2023-04-27 Pending — SWVAR
• 2023-04-09 Listed $59,900 SWVAR

Property tax history

+1.0%/yr

Latest (2025): $83 · -25.9% YoY. Source: county tax records.