106 Sandham Ct · Seven Lakes, NC 27376

$285,000

3 bd · 2.0 ba · 1,810 sqft · Townhouse public records · 71 Days on market

Built 1980 0.26 ac lot Est $300k · 5% under $117/mo HOA · 4% of rent

---

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 +20.8/30.0
• ARV discount +9.8/15.0
• DSCR +6.6/10.0
• 1% rule +4.7/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TOWNHOUSE ASSOCIATION DUES $100 per month. This newly painted townhome has it all. Maintenance free vinyl siding, hardwood floors in liv/dr, foyer and kitchen, tiled walk-in shower, split BRs, intercom, central vac, 5 skylights, cabinets & workbench in garage, and rear door to yard, irrigation system, large & bright Carolina Room (with its own H/VAC unit) plus additional parking area. Lower level offers a fantastic brick & paneled hobby room (heated & cooled).

Key facts

• Gated community
• Exposed brick room
• Sunroom

Tags

• GATED COMMUNITY
• SPLIT-BEDROOM FLOOR PLAN
• WALK-IN PANTRY
• BREAKFAST BAR
• SUNROOM
• EXPOSED BRICK ROOM

Property features AI

Finance

• Other: Private road with private maintenance; Lot dimensions approximately 95 x 118 x 97 x 119
• HOA & community: Part of Seven Lakes Landowner's Association; Annual association fee; Community amenities include clubhouse, marina, playground and pool

Exterior

• Parking: Attached garage (1-car) with garage door opener; 1 open parking space; Concrete driveway; Paved, gated access; garage faces front; enclosed parking; Total parking for 2 vehicles
• Security: Gated community access
• Utilities: Public water; Septic tank; Septic connected; Electricity available and connected; Cable available
• Home design: Townhouse; One level
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Exterior storage; Community pool

Interior

• Kitchen: Dishwasher; Free-standing electric range; Refrigerator; Laminate counters; Pantry
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heat (heat pump); Central air
• Interior features: Ceiling fans; Central vacuum; Entrance foyer; Laminate counters; Living/dining room combination; Pantry; Walk-in closets; Walk-in shower; See remarks; Wood-burning fireplace in living room; Basement with exterior entry, partial and heated
• Laundry & utility: Washer and dryer included; Main-level laundry; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $285k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/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 $278k (2.6% below list).
• Recommended offer: $268k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.0% in Seven Lakes — 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 72/100 on livability (#91 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Moore County Schools (rural): math 48% / reading 54% proficiency, ranked #58 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 180 active listings in the ZIP; 941 units permitted in Moore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Moore County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $179k; list at $285k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% 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 $267,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $300,460
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Sherwood Rd	0.11mi	2/2.0 (-1)	1,748 (-3%)	4mo	$265,000	$152	81
119 Sandham Ct	0.09mi	3/2.0	1,597 (-12%)	1mo	$265,000	$166	75

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

Projected returns pro-forma

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

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-21,448
• Equity at exit: $42,494

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $13,008
• Equity at exit: $24,642

Cash invested: $79,800 (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 27376

• Home prices YoY: -30.2%
• Active inventory: 180
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,777 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$119
• HOA: −$117
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $389

Break-even live

Break-even rent $2,285

Max offer price $285,000

Occupancy floor 81%

Sensitivity live

Price	-10% $551	-5% $470	+0% $389	+5% $309	+10% $228
Rent	-10% $170	-5% $280	+0% $389	+5% $499	+10% $609
Rate	-1.0pp $533	-0.5pp $462	base $389	+0.5pp $315	+1.0pp $240

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $117 · $1,404/yr

Listing history 7 events

1. 2026-05-08
   status Pending
2. 2026-02-26
   listed $285,000 Active
3. 2021-01-11
   soldstatus $179,000
4. 2018-07-03
   soldstatus $152,500
5. 2009-12-10
   soldstatus $140,000
6. 2009-12-09
   soldstatus $140,000 480-char remark

   Show marketing remark (480 chars)

   TOWNHOUSE ASSOCIATION DUES $100 per month. This newly painted townhome has it all. Maintenance free vinyl siding, hardwood floors in liv/dr, foyer and kitchen, tiled walk-in shower, split BRs, intercom, central vac, 5 skylights, cabinets & workbench in garage, and rear door to yard, irrigation system, large & bright Carolina Room (with its own H/VAC unit) plus additional parking area. Lower level offers a fantastic brick & paneled hobby room (heated & cooled).

7. 2009-06-19
   listed $149,900 480-char remark

   Show marketing remark (480 chars)

   TOWNHOUSE ASSOCIATION DUES $100 per month. This newly painted townhome has it all. Maintenance free vinyl siding, hardwood floors in liv/dr, foyer and kitchen, tiled walk-in shower, split BRs, intercom, central vac, 5 skylights, cabinets & workbench in garage, and rear door to yard, irrigation system, large & bright Carolina Room (with its own H/VAC unit) plus additional parking area. Lower level offers a fantastic brick & paneled hobby room (heated & cooled).

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $2,337 · $195/mo
• Expected delta: +$1,444/yr (+$120/mo · 161.6%)

ⓘ 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 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,327
• − Mortgage interest: −$15,964
• − Property taxes: −$893
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,666
• − Management: −$2,666
• − HOA: −$1,404
• − Depreciation: −$8,291
• Taxable income: $17
• Est. tax owed @ 24.0%: −$4
• After-tax cash flow: $4,667/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: Moore County Schools
• NCES district ID: 3703090
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 54% ▲ 5.00%
• Median HH income: $50,333
• Composite: 43.63/100
• National rank: #2967
• State rank: #58 of 178 in NC

Livability — Seven Lakes

• Score: 72/100
• State rank: #91
• US rank: #6124

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seven Lakes, NC
• Population (ZIP): 9,693

Population outlook (Moore County) Hauer SSP2

• Today (2025): 106,902 people
• By 2030: 113,134 · +5.8%
• By 2040: 125,682 · +17.6%
• By 2050: 137,811 · +28.9%
• By 2075: 164,387 · +53.8%
• By 2100: 175,595 · +64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Lithuanian 4% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Moore

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -21.4pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+27.4 2016: R+29.6 2012: R+28.1 2008: R+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.65%
• Current HPI: 177.4703
• 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

+90.1% since first listed

7 events — show timeline

• 2026-05-08 Pending — TMLS
• 2026-02-26 Listed $285,000 TMLS
• 2021-01-11 Sold (Public Records) $179,000 Public Records
• 2018-07-03 Sold (Public Records) $152,500 Public Records
• 2009-12-10 Sold (Public Records) $140,000 Public Records
• 2009-12-09 Sold (MLS) $140,000 Hive MLS
• 2009-06-19 Listed $149,900 Hive MLS

Property tax history

+1.6%/yr

Latest (2024): $893 · -4.4% YoY. Source: county tax records.