316 Substation Rd · Troy, NC 27371

$122,300

3 bd · 2.0 ba · 896 sqft · Manufactured public records · 83 Days on market

Built 2012 1.56 ac lot ↓ 15% 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 +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Escape to the quiet of the country with this charming 3-bedroom, 2-bathroom single-wide home, perfectly situated on a spacious 1.56-acre lot. Located just off Hwy 134 in Troy, NC, this property offers the ideal blend of accessibility and rural privacy. The interior feels fresh and inviting with a recently painted living room and bedrooms, providing a clean slate for you to make your own. Whether you're looking for room to roam, space for a garden, or a peaceful retreat from the city, this expansive acreage delivers. Don't miss this opportunity for affordable country living! With a qualified buyer, home will finance with 3.5% down payment.

Key facts

• Space for a garden
• 1.56 acre lot
• Built 2012

Tags

• SPACIOUS 1.56-ACRE LOT
• RECENTLY PAINTED LIVING ROOM
• SPACE FOR A GARDEN

Property features AI

Finance

• Other: Public maintained road access
• HOA & community: No association

Exterior

• Parking: Driveway with gravel surface
• Utilities: Well water; Septic tank; Electric water heater
• Home design: Manufactured home (single wide); One-story; Built in 2012; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Storage structure on property; No pool

Interior

• Kitchen: Free-standing range
• Bedrooms: Bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric heating
• Interior features: Primary bedroom located on the main level; 5 total rooms
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $122k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#181 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 48 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($846 loan paydown + $12k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -17% 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $114,962 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
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: 1.01% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.42×
• Total profit: $82,983
• Equity at exit: $110,178

10-year hold

• IRR: 26.7%
• Equity multiple: 7.76×
• Total profit: $231,332
• Equity at exit: $237,602

Cash invested: $34,244 (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 27371

• Home prices YoY: 13.6%
• Active inventory: 48
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$641
• Tax from tax record: −$27 /mo · $322/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $258

Break-even live

Break-even rent $910

Max offer price $122,300

Occupancy floor 74%

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: $30,575
• Closing costs: $3,669
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   status $122,300 Pending 83 DOM
2. 2026-06-18
   days on market $122,300 Due Diligence Period 83 DOM
3. 2026-06-17
   days on market $122,300 Due Diligence Period 82 DOM
4. 2026-06-16
   days on market $122,300 Due Diligence Period 81 DOM
5. 2026-06-15
   days on market $122,300 Due Diligence Period 80 DOM
6. 2026-06-14
   days on market $122,300 Due Diligence Period 78 DOM
7. 2026-06-13
   days on market $122,300 Due Diligence Period 77 DOM
8. 2026-06-10
   days on market $122,300 Due Diligence Period 75 DOM
9. 2026-06-09
   days on market $122,300 Due Diligence Period 74 DOM
10. 2026-06-08
    days on market $122,300 Due Diligence Period 73 DOM
11. 2026-06-07
    days on market $122,300 Due Diligence Period 72 DOM
12. 2026-06-05
    days on market $122,300 Due Diligence Period 69 DOM
13. 2026-06-03
    days on market $122,300 Due Diligence Period 68 DOM
14. 2026-06-02
    days on market $122,300 Due Diligence Period 67 DOM
15. 2026-06-01
    statusdays on market $122,300 Due Diligence Period 66 DOM
16. 2026-05-31
    days on market $122,300 Active 65 DOM
17. 2026-05-31
    days on market $122,300 Active 64 DOM
18. 2026-05-08
    price $122,300
19. 2026-04-17
    price $127,900
20. 2026-03-27
    listed $134,900 Active
21. 2026-02-23
    price $137,000
22. 2026-01-12
    price $143,999

ⓘ 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: $322 · $27/mo
• Projected year-2 tax: $1,003 · $84/mo
• Expected delta: +$681/yr (+$57/mo · 211.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,843
• − Mortgage interest: −$6,851
• − Property taxes: −$322
• − Insurance: −$612
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$3,558
• Taxable income: $1,126
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $2,826/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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Troy

• Score: 68/100
• State rank: #181
• US rank: #9235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,842

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 26,533 people
• By 2030: 25,724 · -3.0%
• By 2040: 23,842 · -10.1%
• By 2050: 22,077 · -16.8%
• By 2075: 18,754 · -29.3%
• By 2100: 15,537 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 14% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+37.8) · D 30.8% · R 68.6%
• 2008→2024 swing: -26.9pp toward R · 2008: -11.0pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+31.8 2016: R+25.9 2012: R+15.2 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.24%
• Current HPI: 328.2084
• 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

-15.1% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $122,300 Triad MLS
• 2026-04-17 Price Changed $127,900 Triad MLS
• 2026-03-27 Listed $134,900 Triad MLS
• 2026-02-23 Price Changed $137,000 Triad MLS
• 2026-01-12 Price Changed $143,999 Triad MLS

Property tax history

+14.3%/yr

Latest (2025): $322 · +0.0% YoY. Source: county tax records.