103 Springhill St · La Grange, NC 28551

$89,900

2 bd · 1.0 ba · 622 sqft · SingleFamily public records · 64 Days on market

Built 1968 3,049 sqft lot Est $72k · 26% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This Charming Home would be a perfect Starter Home or great opportunity to add another home to your rental Portfolio. This Home Features 2 bedrooms and 1 Full bathroom and a cozy screen porch. Located in the city limits of La Grange.

Key facts

• 3,049 sq ft lot
• Built 1968
• Listed 63 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Vinyl siding and frame construction
• Exterior features: Screened porch; Partial fencing; Metal roof; City street and state road frontage; Frontage: see remarks; Lot dimensions approximately 50 x 60; Approximately 0.07 acres; Zoned residential

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/Window air conditioning unit(s); Propane heating; Wall furnace
• Interior features: Crawl space basement; Has view; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 4.3% in La Grange — 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 66/100 on livability (#278 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: La Grange Elementary (math 32% / reading 32%, grade F, #908 of 1,410 statewide, top 67%, 498 students, 99% FRL) — zoned schools average 99% FRL vs 65% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lenoir 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.74% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.31%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $71,530
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 W James St	0.57mi	2/1.0	608 (-2%)	5mo	$70,000	$115	65
301 N Center St	0.60mi	1/1.0 (-1)	650 (+4%)	13mo	$82,500	$127	49
118 W King St	0.57mi	1/1.0 (-1)	615 (-1%)	22mo	$59,000	$96	48

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: 28.5%
• Equity multiple: 2.19×
• Total profit: $29,902
• Equity at exit: $13,404

10-year hold

• IRR: 35.9%
• Equity multiple: 4.31×
• Total profit: $83,223
• Equity at exit: $7,773

Cash invested: $25,172 (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 28551

• Home prices YoY: -16.2%
• Active inventory: 86
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,566 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $699

Break-even live

Break-even rent $681

Max offer price $89,900

Occupancy floor 50%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $89,900 Active 64 DOM
2. 2026-06-18
   days on market $89,900 Active 63 DOM
3. 2026-06-17
   days on market $89,900 Active 62 DOM
4. 2026-06-16
   days on market $89,900 Active 61 DOM
5. 2026-06-15
   days on market $89,900 Active 60 DOM
6. 2026-06-14
   days on market $89,900 Active 58 DOM
7. 2026-06-12
   days on market $89,900 Active 57 DOM
8. 2026-06-09
   days on market $89,900 Active 54 DOM
9. 2026-06-08
   days on market $89,900 Active 53 DOM
10. 2026-06-07
    days on market $89,900 Active 52 DOM
11. 2026-06-07
    days on market $89,900 Active 51 DOM
12. 2026-06-04
    days on market $89,900 Active 48 DOM
13. 2026-06-02
    days on market $89,900 Active 47 DOM
14. 2026-06-01
    days on market $89,900 Active 46 DOM
15. 2026-05-31
    days on market $89,900 Active 45 DOM
16. 2026-05-31
    days on market $89,900 Active 44 DOM
17. 2026-04-16
    listed $89,900 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: $351 · $29/mo
• Projected year-2 tax: $737 · $61/mo
• Expected delta: +$386/yr (+$32/mo · 110.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,787
• − Mortgage interest: −$5,036
• − Property taxes: −$351
• − Insurance: −$450
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$2,615
• Taxable income: $7,329
• Est. tax owed @ 24.0%: −$1,759
• After-tax cash flow: $6,625/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — La Grange

• Score: 66/100
• State rank: #278
• US rank: #12047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grange, NC
• Population (ZIP): 13,264

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Black 21% Hispanic / Latino 16% Two or more races 8%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 1% Portuguese 1% Slovene 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.90%
• Current HPI: 216.483
• 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

1 event — show timeline

• 2026-04-16 Listed $89,900 Hive MLS

Property tax history

+5.2%/yr

Latest (2025): $351 · +85.8% YoY. Source: county tax records.