1316 Hopper Rd · Spindale, NC 28139

$119,000

3 bd · 2.0 ba · 0 sqft · SingleFamily public records · 338 Days on market

Built 1994 1.83 ac lot ↓ 8% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1994 Single Wide Mobile Home on 1.82 Acres. Discover your serene escape with this well-maintained 3-bedroom, 2-bathroom single-wide mobile home, perfectly positioned on 1.82 acres of peaceful land. Recent upgrades include new windows, modern bathrooms, a new water heater, stylish kitchen cabinets, a new island, and nice appliances. Enjoy the fresh look of new flooring, contemporary windows, and new light fixtures throughout. This home requires some additional work, including the installation of a heat & air unit, underpinning, and removal of the tongue, as well as connection to the existing city water supply, Duke Power, and septic tank. With two septic systems already on the

Key facts

• 1.82 acres
• New island
• New water heater

Tags

• 1.82 ACRES
• NEW WINDOWS
• MODERN BATHROOMS
• NEW WATER HEATER
• STYLISH KITCHEN CABINETS
• NEW ISLAND

Property features AI

Finance

• Other: Zoning: A30M
• HOA & community: Not subject to an HOA

Exterior

• Parking: Driveway
• Utilities: Septic system installed; Tap fee required for water (no water currently); No municipal water listed
• Home design: Manufactured singlewide home; Single-story
• Construction: Vinyl exterior; Manufactured construction; No foundation details listed
• Exterior features: Cleared, level lot; Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: No heating; No cooling
• Interior features: Kitchen island; Storage
• Laundry & utility: Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.4% in Spindale — 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 67/100 on livability (#211 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing B; Watch: crime C-, amenities F, commute F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harris Elementary School (math 56% / reading 50%, grade C, #344 of 1,410 statewide, top 25%, 445 students, 99% FRL); Chase High School (math 67% / reading 47%, grade C, #248 of 535 statewide, top 48%, 660 students, 99% FRL) — zoned schools average 99% FRL vs 60% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 312 active listings in the ZIP; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rutherford County population projected at -17% 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 338 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 338 days. Have you received any prior offers? Is the seller open to a 12% 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 D-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. 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: 1.24% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.7

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Round Pond Rd	0.10mi	3/2.0	1,344	10mo	$135,000	$100	75
230 Stone Way Ln	0.63mi	4/3.5 (+1)	3,318	8mo	$575,000	$173	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: 8.3%
• Equity multiple: 1.32×
• Total profit: $10,804
• Equity at exit: $17,743

10-year hold

• IRR: 17.5%
• Equity multiple: 2.44×
• Total profit: $47,993
• Equity at exit: $10,289

Cash invested: $33,320 (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 28139

• Home prices YoY: -21.6%
• Active inventory: 312
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,478 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$21 /mo · $249/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $473

Break-even live

Break-even rent $879

Max offer price $119,000

Occupancy floor 63%

Sensitivity live

Price	-10% $541	-5% $507	+0% $473	+5% $304	+10% $263
Rent	-10% $357	-5% $415	+0% $473	+5% $532	+10% $590
Rate	-1.0pp $533	-0.5pp $504	base $473	+0.5pp $442	+1.0pp $411

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $119,000 Active 338 DOM
2. 2026-06-18
   days on market $119,000 Active 337 DOM
3. 2026-06-17
   days on market $119,000 Active 336 DOM
4. 2026-06-16
   days on market $119,000 Active 335 DOM
5. 2026-06-15
   days on market $119,000 Active 334 DOM
6. 2026-06-14
   days on market $119,000 Active 332 DOM
7. 2026-06-13
   days on market $119,000 Active 331 DOM
8. 2026-06-10
   days on market $119,000 Active 329 DOM
9. 2026-06-09
   days on market $119,000 Active 328 DOM
10. 2026-06-08
    days on market $119,000 Active 327 DOM
11. 2026-06-07
    days on market $119,000 Active 326 DOM
12. 2026-06-02
    days on market $119,000 Active 321 DOM
13. 2026-06-01
    days on market $119,000 Active 320 DOM
14. 2026-05-31
    days on market $119,000 Active 319 DOM
15. 2026-05-30
    days on market $119,000 Active 318 DOM
16. 2026-01-06
    price $119,000
17. 2025-08-04
    status Active
18. 2025-07-22
    historical Active Under Contract
19. 2025-07-16
    listed $130,000 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: $249 · $21/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: +$727/yr (+$61/mo · 291.9%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,737
• − Mortgage interest: −$6,666
• − Property taxes: −$249
• − Insurance: −$595
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$3,462
• Taxable income: $3,927
• Est. tax owed @ 24.0%: −$942
• After-tax cash flow: $4,737/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: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Spindale

• Score: 67/100
• State rank: #211
• US rank: #10189

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,825
• Population (ZIP): 18,887

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.65%
• Current HPI: 249.7007
• 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

-8.5% since first listed

4 events — show timeline

• 2026-01-06 Price Changed $119,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-04 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-07-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-07-16 Listed $130,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2017): $249 · +2.0% YoY. Source: county tax records.