289 Washington Park Rd · Mount Gilead, NC 27306

$205,000

3 bd · 1.0 ba · 1,341 sqft · SingleFamily public records · 111 Days on market

Built 1972 0.40 ac lot Est $215k · at est.

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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 +20.1/30.0
• ARV discount +9.5/15.0
• DSCR +6.4/10.0
• Appreciation +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into this charming 3-bedroom, 1-bath home offering great space, a functional layout, and a yard that’s hard to beat at this price point. The home features a nice-sized family room and separate living room, giving you flexibility for gatherings, work, or relaxation. The eat-in kitchen with a bar provides a comfortable spot for everyday meals. You’ll find hardwood floors in several rooms along with tile in select areas, plus an updated bathroom that adds a fresh touch. Outside, there's some fencing. Not mention two outbuildings, one already wired, making it ideal for storage, hobbies, or a workshop. Take a look before it's too late.

Key facts

• Two outbuildings
• Eat-in kitchen
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• EAT-IN KITCHEN
• HARDWOOD FLOORS
• UPDATED BATHROOM
• TWO OUTBUILDINGS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Site built
• Construction: Hardboard siding; Metal roof; Crawl space foundation
• Exterior features: Chain link fencing; Open lot; Concrete and paved road access; Outbuilding on the property

Interior

• Kitchen: Electric cooktop; Wall oven; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Heat pump; Central air conditioning
• Interior features: Breakfast bar
• Laundry & utility: Utility room laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/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 $189k (7.8% below list).
• Recommended offer: $187k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#58 in NC, #4,548 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, 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: 113 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $140k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $186,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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: 0.92% ✗
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $214,560
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Lewis St	0.39mi	3/2.0	1,344 (+0%)	7mo	$138,000	$103	72
403 Julius Chambers Ave	0.47mi	3/2.5	1,396 (+4%)	5mo	$188,000	$135	61
519 N Main St	0.50mi	3/2.0	1,430 (+7%)	2mo	$229,500	$160	60
300 Washington Park Rd	0.03mi	3/2.0	1,144 (-15%)	17mo	$229,000	$200	56

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

Projected returns pro-forma

-0.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,351
• Equity at exit: $50,094

10-year hold

• IRR: 7.0%
• Equity multiple: 1.68×
• Total profit: $39,119
• Equity at exit: $53,123

Cash invested: $57,400 (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 27306

• Home prices YoY: -0.3%
• Active inventory: 113
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,890 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$77 /mo · $926/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $256

Break-even live

Break-even rent $1,567

Max offer price $205,000

Occupancy floor 81%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $205,000 Active 111 DOM
2. 2026-06-17
   days on market $205,000 Active 110 DOM
3. 2026-06-16
   days on market $205,000 Active 109 DOM
4. 2026-06-15
   days on market $205,000 Active 108 DOM
5. 2026-06-14
   days on market $205,000 Active 106 DOM
6. 2026-06-13
   days on market $205,000 Active 105 DOM
7. 2026-06-10
   days on market $205,000 Active 103 DOM
8. 2026-06-09
   days on market $205,000 Active 102 DOM
9. 2026-06-08
   days on market $205,000 Active 101 DOM
10. 2026-06-07
    days on market $205,000 Active 100 DOM
11. 2026-06-05
    days on market $205,000 Active 97 DOM
12. 2026-06-03
    days on market $205,000 Active 96 DOM
13. 2026-06-02
    days on market $205,000 Active 95 DOM
14. 2026-06-01
    days on market $205,000 Active 94 DOM
15. 2026-05-31
    days on market $205,000 Active 93 DOM
16. 2026-05-31
    days on market $205,000 Active 92 DOM
17. 2026-03-19
    price $205,000 655-char remark

    Show marketing remark (655 chars)

    Step into this charming 3-bedroom, 1-bath home offering great space, a functional layout, and a yard that’s hard to beat at this price point. The home features a nice-sized family room and separate living room, giving you flexibility for gatherings, work, or relaxation. The eat-in kitchen with a bar provides a comfortable spot for everyday meals. You’ll find hardwood floors in several rooms along with tile in select areas, plus an updated bathroom that adds a fresh touch. Outside, there's some fencing. Not mention two outbuildings, one already wired, making it ideal for storage, hobbies, or a workshop. Take a look before it's too late.

18. 2026-03-19
    price $205,000

    Show marketing remark (655 chars)

    Step into this charming 3-bedroom, 1-bath home offering great space, a functional layout, and a yard that’s hard to beat at this price point. The home features a nice-sized family room and separate living room, giving you flexibility for gatherings, work, or relaxation. The eat-in kitchen with a bar provides a comfortable spot for everyday meals. You’ll find hardwood floors in several rooms along with tile in select areas, plus an updated bathroom that adds a fresh touch. Outside, there's some fencing. Not mention two outbuildings, one already wired, making it ideal for storage, hobbies, or a workshop. Take a look before it's too late.

19. 2026-02-27
    listed $210,000 Active 655-char remark

    Show marketing remark (655 chars)

    Step into this charming 3-bedroom, 1-bath home offering great space, a functional layout, and a yard that’s hard to beat at this price point. The home features a nice-sized family room and separate living room, giving you flexibility for gatherings, work, or relaxation. The eat-in kitchen with a bar provides a comfortable spot for everyday meals. You’ll find hardwood floors in several rooms along with tile in select areas, plus an updated bathroom that adds a fresh touch. Outside, there's some fencing. Not mention two outbuildings, one already wired, making it ideal for storage, hobbies, or a workshop. Take a look before it's too late.

20. 2026-02-27
    listed $210,000 Active

    Show marketing remark (655 chars)

    Step into this charming 3-bedroom, 1-bath home offering great space, a functional layout, and a yard that’s hard to beat at this price point. The home features a nice-sized family room and separate living room, giving you flexibility for gatherings, work, or relaxation. The eat-in kitchen with a bar provides a comfortable spot for everyday meals. You’ll find hardwood floors in several rooms along with tile in select areas, plus an updated bathroom that adds a fresh touch. Outside, there's some fencing. Not mention two outbuildings, one already wired, making it ideal for storage, hobbies, or a workshop. Take a look before it's too late.

21. 2022-12-30
    soldstatus $139,900 Closed 319-char remark

    Show marketing remark (319 chars)

    This home is ready for a new family. Some updating in the kitchen and bath. New gutters, ceiling fans with lights, HVAC about 6 years old, new driveway and priced at $139,900.00. Nice den at side door entrance. The yard is fenced, an outbuilding that is wired and was the owners mancave. Great space for the money.

22. 2022-12-30
    soldstatus $140,000

    Show marketing remark (319 chars)

    This home is ready for a new family. Some updating in the kitchen and bath. New gutters, ceiling fans with lights, HVAC about 6 years old, new driveway and priced at $139,900.00. Nice den at side door entrance. The yard is fenced, an outbuilding that is wired and was the owners mancave. Great space for the money.

23. 2022-11-29
    status Pending 319-char remark

    Show marketing remark (319 chars)

    This home is ready for a new family. Some updating in the kitchen and bath. New gutters, ceiling fans with lights, HVAC about 6 years old, new driveway and priced at $139,900.00. Nice den at side door entrance. The yard is fenced, an outbuilding that is wired and was the owners mancave. Great space for the money.

24. 2022-11-20
    listed $139,900 Active 319-char remark

    Show marketing remark (319 chars)

    This home is ready for a new family. Some updating in the kitchen and bath. New gutters, ceiling fans with lights, HVAC about 6 years old, new driveway and priced at $139,900.00. Nice den at side door entrance. The yard is fenced, an outbuilding that is wired and was the owners mancave. Great space for the money.

ⓘ 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: $926 · $77/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$755/yr (+$63/mo · 81.6%)

ⓘ 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 ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,685
• − Mortgage interest: −$11,483
• − Property taxes: −$926
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$5,964
• Taxable loss: −$342
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $3,152/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 — Mount Gilead

• Score: 74/100
• State rank: #58
• US rank: #4548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Gilead, NC
• Population (ZIP): 5,457

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: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Asian 6% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 6% · China, Canada, Philippines
• Languages at home: 92% English-only · Other Asian/Pacific 5% Spanish 2% 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: ▼ -0.94%
• Current HPI: 334.2599
• 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

+46.5% since first listed

8 events — show timeline

• 2026-03-19 Price Changed $205,000 Triad MLS
• 2026-03-19 Price Changed $205,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-27 Listed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-27 Listed $210,000 Triad MLS
• 2022-12-30 Sold (Public Records) $140,000 Public Records
• 2022-12-30 Sold (MLS) $139,900 CANOPYMLS as Distributed by MLS Grid
• 2022-11-29 Pending — CANOPYMLS as Distributed by MLS Grid
• 2022-11-20 Listed $139,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2025): $926 · +0.0% YoY. Source: county tax records.