116 Hoover Ln · Biscoe, NC 27209

$85,000

3 bd · 1.0 ba · 921 sqft · Other · 36 Days on market

Built 1984 0.55 ac lot

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Why this score? — see what drove the B- 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 +26.2/30.0
• DSCR +8.9/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Three bedroom, 1bath, ac heat conditioning, 0.55 acreage, fenced yard , good neighborhood

Key facts

• 0.55 acre lot
• Built 1984
• Listed 36 days

Property features AI

Finance

• Other: Zoning: R2; Lot size: 0.55 acres

Exterior

• Parking: Gravel parking
• Utilities: Public water; Water available
• Home design: Manufactured home; One level; Entry level: 1; Residential property
• Construction: Metal siding and frame construction; Metal roof; Block foundation; Built as a manufactured home
• Exterior features: Porch; Chain link fencing; Road frontage on city street and state road; Frontage type: see remarks; Lot dimensions approximately 100 x 238 x 100 x 246

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Refrigerator included; Tile flooring; Crawl space basement; Has view
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#163 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• 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.
• Zoned schools: East Middle (math 35% / reading 32%, grade F, #299 of 475 statewide, top 64%, 451 students, 85% FRL); Montgomery Central High (math 42% / reading 39%, grade F, #387 of 535 statewide, top 73%, 893 students, 73% FRL).
• Market conditions: 7 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($588 loan paydown + $5k appreciation (6.0% local appreciation)).
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 39% 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 $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.61×
• Total profit: $38,349
• Equity at exit: $53,379

10-year hold

• IRR: 23.1%
• Equity multiple: 5.29×
• Total profit: $102,003
• Equity at exit: $96,751

Cash invested: $23,800 (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 27209

• Home prices YoY: 1.8%
• Active inventory: 7
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $217

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 74%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $85,000 Active 36 DOM
2. 2026-06-17
   days on market $85,000 Active 35 DOM
3. 2026-06-16
   days on market $85,000 Active 34 DOM
4. 2026-06-15
   days on market $85,000 Active 33 DOM
5. 2026-06-14
   days on market $85,000 Active 31 DOM
6. 2026-06-13
   days on market $85,000 Active 30 DOM
7. 2026-06-10
   days on market $85,000 Active 28 DOM
8. 2026-06-09
   days on market $85,000 Active 27 DOM
9. 2026-06-08
   days on market $85,000 Active 26 DOM
10. 2026-06-07
    days on market $85,000 Active 25 DOM
11. 2026-06-05
    days on market $85,000 Active 22 DOM
12. 2026-06-03
    days on market $85,000 Active 21 DOM
13. 2026-06-02
    days on market $85,000 Active 20 DOM
14. 2026-06-01
    days on market $85,000 Active 19 DOM
15. 2026-05-31
    days on market $85,000 Active 18 DOM
16. 2026-05-31
    statusdays on market $85,000 Active 17 DOM
17. 2026-05-14
    historical Active Under Contract
18. 2026-05-13
    listed $85,000 Active
19. 2026-05-12
    listed $85,000 Active 89-char remark

    Show marketing remark (89 chars)

    Three bedroom, 1bath, ac heat conditioning, 0.55 acreage, fenced yard , good neighborhood

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 39% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,225
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$2,473
• Taxable income: $1,335
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $2,288/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 — Biscoe

• Score: 69/100
• State rank: #163
• US rank: #8839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,935

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 42% White 40% Two or more races 20% Black 13% Native American 4%
• Hispanic origin (detail): Mexican 31% Puerto Rican 4%
• Common ancestry: Iranian 3% Slovak 2%
• Foreign-born: 16% · Canada
• Languages at home: 65% English-only · Spanish 34% Other Indo-European 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: ▲ 5.99%
• Current HPI: 334.3389
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-14 Contingent — Hive MLS
• 2026-05-13 Listed $85,000 Hive MLS
• 2026-05-12 Listed $85,000 FSBO.com

Property tax history

+4.8%/yr

Latest (2025): $77 · +0.0% YoY. Source: county tax records.