205 Kelly Dr · Laurinburg, NC 28352

$160,000

3 bd · 2.0 ba · 1,651 sqft · SingleFamily public records · 152 Days on market

Built 2006 0.57 ac lot Est $203k · 21% under ↓ 22% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• 1% rule +3.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.5/10.0

Listing remarks

OPEN HOUSE SHOWING EVERY SATURDAY 2 TO 2:30 PM UNTIL SOLD! Buy today and profit for tomorrow; A move in the right direction! Whether your an investor or owner occupant looking for a below priced property you have met your match! It needs work, but location appeal and upsize make this a special property. Features a half an acre plus lot, rear deck, three bedroom, two full baths and an open floorplan. Don't miss out on this great opportunity!

Key facts

• Open floorplan
• Half an acre lot
• Rear deck

Tags

• HALF AN ACRE LOT
• REAR DECK
• OPEN FLOORPLAN

Property features AI

Finance

• Other: Located in Laurinburg subdivision; Directions: Turnpike Road to Meadowbrook Drive, to Anita Drive to Kelly Drive

Exterior

• Parking: Attached 2-car garage (2 covered spaces)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential zoning (R15)
• Construction: Vinyl siding
• Exterior features: Deck; Level lot and yard

Interior

• Bedrooms: 5 total rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (heating present)
• Interior features: One fireplace (free-standing); Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $49 ($591/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 $137k (14.6% below list).
• Recommended offer: $137k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.3% in Laurinburg — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 56/100 on livability (#632 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Scotland County Schools (town): math 23% / reading 28% proficiency, ranked #160 of 178 in NC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sycamore Lane Elementary (math 12% / reading 21%, grade F, #1,307 of 1,410 statewide, top 93%, 357 students, 98% FRL); Spring Hill Middle (math 25% / reading 29%, grade F, #374 of 475 statewide, top 80%, 643 students, 99% FRL); Scotland High School (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,445 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,592 (14.6% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 15% 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 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $203,073
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 Lake Dr	0.07mi	3/2.0	1,488 (-10%)	11mo	$175,000	$118	71
1703 Lake Dr	0.08mi	3/2.0	1,870 (+13%)	5mo	$205,000	$110	70
13080 Debra Dr	0.37mi	3/2.0	1,582 (-4%)	13mo	$232,000	$147	65
1512 Patsy Ln	0.30mi	3/2.5	1,576 (-4%)	15mo	$210,000	$133	64
13260 Blues Farm Rd	0.33mi	3/2.0	1,811 (+10%)	22mo	$110,000	$61	50
12500 Colinwood Cir	0.62mi	3/2.0	1,698 (+3%)	20mo	$224,000	$132	50
12381 Colinwood Cir	0.74mi	3/2.0	1,725 (+4%)	14mo	$212,500	$123	46
13200 West Blvd	0.61mi	3/2.0	1,784 (+8%)	15mo	$185,000	$104	46
12941 Providence Rd	0.64mi	3/2.5	1,578 (-4%)	19mo	$187,900	$119	45
12800 Debra Dr	0.65mi	3/2.0	1,450 (-12%)	12mo	$181,500	$125	40

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-22,816
• Equity at exit: $23,857

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-15,935
• Equity at exit: $13,834

Cash invested: $44,800 (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 28352

• Home prices YoY: -3.4%
• Active inventory: 157
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$124 /mo · $1,489/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $49

Break-even live

Break-even rent $1,304

Max offer price $160,000

Occupancy floor 91%

Sensitivity live

Price	-10% $140	-5% $95	+0% $49	+5% $4	+10% $-41
Rent	-10% $-59	-5% $-5	+0% $49	+5% $103	+10% $157
Rate	-1.0pp $130	-0.5pp $90	base $49	+0.5pp $8	+1.0pp $-34

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $160,000 Active 152 DOM
2. 2026-06-18
   days on market $160,000 Active 149 DOM
3. 2026-06-17
   days on market $160,000 Active 148 DOM
4. 2026-06-16
   days on market $160,000 Active 147 DOM
5. 2026-06-15
   days on market $160,000 Active 146 DOM
6. 2026-06-14
   days on market $160,000 Active 144 DOM
7. 2026-06-13
   days on market $160,000 Active 143 DOM
8. 2026-06-10
   days on market $160,000 Active 141 DOM
9. 2026-06-09
   days on market $160,000 Active 140 DOM
10. 2026-06-08
    days on market $160,000 Active 139 DOM
11. 2026-06-07
    days on market $160,000 Active 138 DOM
12. 2026-06-05
    days on market $160,000 Active 135 DOM
13. 2026-06-03
    days on market $160,000 Active 134 DOM
14. 2026-06-02
    days on market $160,000 Active 133 DOM
15. 2026-06-01
    days on market $160,000 Active 132 DOM
16. 2026-05-31
    days on market $160,000 Active 131 DOM
17. 2026-05-30
    days on market $160,000 Active 130 DOM
18. 2026-05-18
    status Active
19. 2026-05-14
    price $160,000
20. 2026-02-24
    price $170,000
21. 2026-01-17
    listed $180,000 Active
22. 2025-11-22
    price $180,000
23. 2025-10-16
    listed $190,000 Active
24. 2025-08-14
    price $190,000
25. 2025-07-15
    listed $200,000 Active
26. 2024-10-07
    price $154,900
27. 2024-10-01
    price $159,950
28. 2024-09-22
    price $165,000
29. 2024-09-16
    price $194,000
30. 2024-09-07
    listed $199,000 Active
31. 2024-09-02
    historical
32. 2023-06-05
    historical
33. 2023-05-05
    listed $205,000 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: $1,489 · $124/mo
• Projected year-2 tax: $1,489 · $124/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $16,391
• − Mortgage interest: −$8,962
• − Property taxes: −$1,489
• − Insurance: −$800
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$4,655
• Taxable loss: −$2,138
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $1,104/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: Scotland County Schools
• NCES district ID: 3704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $31,203
• Composite: 20.66/100
• National rank: #8536
• State rank: #160 of 178 in NC

Livability — Laurinburg

• Score: 56/100
• State rank: #632
• US rank: #22962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurinburg, NC
• City population: 24,177
• Population (ZIP): 24,177

Population outlook (Scotland County) Hauer SSP2

• Today (2025): 33,331 people
• By 2030: 32,017 · -3.9%
• By 2040: 29,290 · -12.1%
• By 2050: 26,554 · -20.3%
• By 2075: 19,857 · -40.4%
• By 2100: 13,851 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 37% Native American 11% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Scotland

• 2024 margin: Lean R (+6.9) · D 46.2% · R 53.1%
• 2008→2024 swing: -22.0pp toward R · 2008: 15.1pp · 2024: -6.9pp
• All cycles: 2024: R+6.9 2020: R+1.9 2016: D+7.8 2012: D+16.6 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.08%
• Current HPI: 255.331
• 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

-22.0% since first listed

16 events — show timeline

• 2026-05-18 Relisted — LPRMLS
• 2026-05-14 Price Changed $160,000 LPRMLS
• 2026-02-24 Price Changed $170,000 LPRMLS
• 2026-01-17 Listed $180,000 LPRMLS
• 2025-11-22 Price Changed $180,000 LPRMLS
• 2025-10-16 Listed $190,000 LPRMLS
• 2025-08-14 Price Changed $190,000 LPRMLS
• 2025-07-15 Listed $200,000 LPRMLS
• 2024-10-07 Price Changed $154,900 CANOPYMLS as Distributed by MLS Grid
• 2024-10-01 Price Changed $159,950 CANOPYMLS as Distributed by MLS Grid
• 2024-09-22 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2024-09-16 Price Changed $194,000 CANOPYMLS as Distributed by MLS Grid
• 2024-09-07 Listed $199,000 CANOPYMLS as Distributed by MLS Grid
• 2024-09-02 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2023-06-05 Listing Removed — TMLS
• 2023-05-05 Listed $205,000 TMLS

Property tax history

+0.0%/yr

Latest (2025): $1,489 · +5.0% YoY. Source: county tax records.