60 Shadowwood Dr · Taylorsville, NC 28681

$99,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured public records · 178 Days on market

Built 1996 0.27 ac lot ↓ 38% 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
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is in the heart of Taylorsville and is located less than a mile from all the great shops on Main street. Great investment opportunity! Owner selling AS IS. Cash only. Please do not walk on back deck.

Key facts

• 0.27 acre lot
• Built 1996
• Listed 178 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/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: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 4.0% in Taylorsville — 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 69/100 on livability (#159 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Alexander County Schools (rural): math 52% / reading 55% proficiency, ranked #52 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Taylorsville Elementary (math 67% / reading 57%, grade B, #179 of 1,410 statewide, top 14%, 238 students, 75% FRL); Alexander Central High (math 67% / reading 60%, grade B-, #175 of 535 statewide, top 33%, 1,312 students, 47% FRL) — zoned schools average 61% FRL vs 43% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 135 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 113 units permitted in Alexander County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Alexander County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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. 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.
5. 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.
6. 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: 1.40% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 5.9

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: 10.5%
• Equity multiple: 1.41×
• Total profit: $11,603
• Equity at exit: $14,895

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $45,912
• Equity at exit: $8,638

Cash invested: $27,972 (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 28681

• Home prices YoY: -11.9%
• Active inventory: 135
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $436

Break-even live

Break-even rent $848

Max offer price $99,900

Occupancy floor 64%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 Shannon Park Cir Taylorsville, NC	2.0	1.5	1000	$1,400	$1.40	13d	1	0.98mi

Listing history 8 events

1. 2024-06-12
   status Pending
2. 2024-03-18
   status Active
3. 2024-03-18
   price $99,900
4. 2023-12-29
   price $115,000
5. 2023-11-29
   listed $149,900 Active
6. 2023-11-13
   status Active
7. 2023-10-17
   price $150,000
8. 2023-09-18
   listed $159,900 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: $1,251 · $104/mo
• Projected year-2 tax: $1,251 · $104/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,800
• − Mortgage interest: −$5,596
• − Property taxes: −$1,251
• − Insurance: −$500
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$2,906
• Taxable income: $3,859
• Est. tax owed @ 24.0%: −$926
• After-tax cash flow: $4,308/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: Alexander County Schools
• NCES district ID: 3700090
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $41,189
• Composite: 44.84/100
• National rank: #2732
• State rank: #52 of 178 in NC

Livability — Taylorsville

• Score: 69/100
• State rank: #159
• US rank: #8794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylorsville, NC
• Population (ZIP): 26,117

Population outlook (Alexander County) Hauer SSP2

• Today (2025): 36,916 people
• By 2030: 36,085 · -2.3%
• By 2040: 33,528 · -9.2%
• By 2050: 30,229 · -18.1%
• By 2075: 23,159 · -37.3%
• By 2100: 15,981 · -56.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 5% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Alexander

• 2024 margin: Solid R (+59.9) · D 19.7% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.4pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+58.0 2016: R+55.9 2012: R+44.6 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.79%
• Current HPI: 227.497
• 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

-37.5% since first listed

8 events — show timeline

• 2024-06-12 Pending — CANOPYMLS as Distributed by MLS Grid
• 2024-03-18 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2024-03-18 Price Changed $99,900 CANOPYMLS as Distributed by MLS Grid
• 2023-12-29 Price Changed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2023-11-29 Listed $149,900 CANOPYMLS as Distributed by MLS Grid
• 2023-11-13 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-10-17 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2023-09-18 Listed $159,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $1,251 · +109.8% YoY. Source: county tax records.