1804 Mulberry Academy St · Ramseur, NC 27248

$174,900

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 18 Days on market

Built 1995 1.84 ac lot

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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 +17.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• DSCR +5.3/10.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

13.9 acre property with views of Ramseur Lake from rear of property. New brick foundation, new double pane tilt windows & new doors. Kitchen appliances remain including refrigerator, smooth top range, washer & dryer. Newly remodeled master bath has walk-in closet. Hall bath has new tub & sink. Front covered deck/porch, double carport, 20 X 28 metal building. Nice country setting!

Key facts

• 1.8 acre lot
• New stove
• Front deck

Tags

• 1.8 ACRE LOT
• GRANITE COUNTERTOPS
• NEW STOVE
• NEW HVAC SYSTEM
• FRONT DECK
• REAR DECK

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Electric water heater; Electric for heating fuel noted in remarks
• Home design: Manufactured single-wide home; One story; Built in 1995
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Well water; Septic tank; Publicly maintained road access; Lot of about 1.84 acres

Interior

• Kitchen: Electric water heater
• Bathrooms: Two full bathrooms
• Heating & cooling: Wall furnace heating; Window air conditioning units
• Interior features: Primary bedroom on the main level; Living room fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/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 $153k (12.6% below list).
• Recommended offer: $153k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#104 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: schools F, amenities F, commute F.
• Randolph County School System (rural): math 43% / reading 43% proficiency, ranked #94 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.0% local appreciation)).
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask is 40% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $75k; list at $175k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,849 (12.6% 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 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?
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: 0.87% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $106,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3682 Cedar Forest Rd	0.72mi	2/2.0 (-1)	1,077 (+1%)	23mo	$108,000	$100	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.78×
• Total profit: $38,392
• Equity at exit: $89,179

10-year hold

• IRR: 14.3%
• Equity multiple: 3.34×
• Total profit: $114,466
• Equity at exit: $146,261

Cash invested: $48,972 (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 27248

• Home prices YoY: 1.6%
• Active inventory: 22
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $117

Break-even live

Break-even rent $1,380

Max offer price $174,900

Occupancy floor 87%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $174,900 Active 18 DOM
2. 2026-06-17
   days on market $174,900 Active 17 DOM
3. 2026-06-16
   days on market $174,900 Active 16 DOM
4. 2026-06-15
   days on market $174,900 Active 15 DOM
5. 2026-06-14
   days on market $174,900 Active 13 DOM
6. 2026-06-10
   days on market $174,900 Active 10 DOM
7. 2026-06-09
   days on market $174,900 Active 9 DOM
8. 2026-06-08
   days on market $174,900 Active 8 DOM
9. 2026-06-07
   days on market $174,900 Active 7 DOM
10. 2026-06-05
    days on market $174,900 Active 4 DOM
11. 2026-06-03
    days on market $174,900 Active 3 DOM
12. 2026-06-02
    days on market $174,900 Active 2 DOM
13. 2026-06-01
    remarks 506-char remark
14. 2026-06-01
    pricedays on marketlisting id $174,900 Active 1 DOM
15. 2026-04-15
    price $149,900
16. 2026-04-09
    listed $124,900 Active
17. 2026-03-24
    price $124,900
18. 2014-08-26
    soldstatus $75,000 394-char remark

    Show marketing remark (394 chars)

    13.9 acre property with views of Ramseur Lake from rear of property. New brick foundation, new double pane tilt windows & new doors. Kitchen appliances remain including refrigerator, smooth top range, washer & dryer. Newly remodeled master bath has walk-in closet. Hall bath has new tub & sink. Front covered deck/porch, double carport, 20 X 28 metal building. Nice country setting!

19. 2014-08-25
    soldstatus $75,000
20. 2014-05-19
    listed $84,500 394-char remark

    Show marketing remark (394 chars)

    13.9 acre property with views of Ramseur Lake from rear of property. New brick foundation, new double pane tilt windows & new doors. Kitchen appliances remain including refrigerator, smooth top range, washer & dryer. Newly remodeled master bath has walk-in closet. Hall bath has new tub & sink. Front covered deck/porch, double carport, 20 X 28 metal building. Nice country setting!

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,434 · $120/mo
• Expected delta: +$232/yr (+$19/mo · 19.3%)

ⓘ 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 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,342
• − Mortgage interest: −$9,797
• − Property taxes: −$1,202
• − Insurance: −$874
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$5,088
• Taxable loss: −$1,555
• Est. tax savings @ 24.0%: +$373
• After-tax cash flow: $1,780/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: Randolph County School System
• NCES district ID: 3703780
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 43% ▲ 2.00%
• Median HH income: $43,490
• Composite: 36.37/100
• National rank: #4686
• State rank: #94 of 178 in NC

Livability — Ramseur

• Score: 71/100
• State rank: #104
• US rank: #6731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,975

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Black 3% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.05%
• Current HPI: 258.7062
• 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

+77.4% since first listed

6 events — show timeline

• 2026-04-15 Price Changed $149,900 Triad MLS
• 2026-04-09 Listed $124,900 Triad MLS
• 2026-03-24 Price Changed $124,900 Triad MLS
• 2014-08-26 Sold (MLS) $75,000 Triad MLS
• 2014-08-25 Sold (Public Records) $75,000 Public Records
• 2014-05-19 Listed $84,500 Triad MLS

Property tax history

+9.5%/yr

Latest (2025): $1,202 · +0.0% YoY. Source: county tax records.