209 N 2nd Ave · Mayodan, NC 27027

$67,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 376 Days on market

Built 1917 7,405 sqft 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity - 2 bed 1 bath currently rented at $575 / month. Very close proximity to Downtown Mayodan!

Key facts

• 7,405 sq ft lot
• Built 1917
• Listed 376 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public sewer; Water heater: unknown
• Home design: Residential stick/site-built house; One story; Built in 1917; Existing structure
• Construction: Asbestos construction material; Crawl space foundation
• Exterior features: Approximately 0.17-acre lot; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling; No heating system / no fuel
• Interior features: Primary bedroom is on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $67k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.7% in Mayodan — 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 60/100 on livability (#523 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: crime C-, schools F, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% 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 $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 376 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $38k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 376 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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: 1.31% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.75%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $153,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 N 4th Ave	0.19mi	2/1.0	863 (-4%)	6mo	$100,000	$116	79
427 N 2nd Ave	0.38mi	2/1.0	912 (+1%)	4mo	$187,000	$205	77
211 5th Ave	0.34mi	3/2.0 (+1)	907 (+1%)	4mo	$170,000	$187	70
900 W Monroe St	0.54mi	2/1.0	850 (-6%)	0mo	$98,000	$115	66
313 W Monroe St	0.30mi	2/1.0	780 (-13%)	2mo	$132,500	$170	62
507 Washington St	0.44mi	2/1.0	784 (-13%)	4mo	$118,000	$151	55
608 W Washington St	0.50mi	2/1.0	984 (+9%)	8mo	$153,000	$155	54
321 N 1st Ave	0.17mi	2/2.0	1,031 (+15%)	14mo	$167,000	$162	53
101 Ayersville Rd	0.63mi	2/1.0	806 (-10%)	2mo	$63,500	$79	51
304 W Washington Ext	0.68mi	2/1.0	954 (+6%)	8mo	$167,000	$175	51
301 5th Ave	0.21mi	3/2.0 (+1)	1,024 (+14%)	10mo	$192,000	$188	50
209 S 4th Ave	0.29mi	3/2.0 (+1)	1,024 (+14%)	12mo	$210,000	$205	44

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $4,825
• Equity at exit: $9,990

10-year hold

• IRR: 16.0%
• Equity multiple: 2.30×
• Total profit: $24,401
• Equity at exit: $5,793

Cash invested: $18,760 (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 27027

• Home prices YoY: -6.3%
• Active inventory: 25
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $246

Break-even live

Break-even rent $563

Max offer price $67,000

Occupancy floor 67%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 S Ayersville Rd Mayodan, NC	2.0	1.0	625	$875	$1.40	23d	1	0.52mi

Listing history 26 events

1. 2026-06-18
   days on market $67,000 Active 376 DOM
2. 2026-06-17
   days on market $67,000 Active 375 DOM
3. 2026-06-16
   days on market $67,000 Active 374 DOM
4. 2026-06-15
   days on market $67,000 Active 373 DOM
5. 2026-06-14
   days on market $67,000 Active 371 DOM
6. 2026-06-13
   days on market $67,000 Active 370 DOM
7. 2026-06-10
   days on market $67,000 Active 368 DOM
8. 2026-06-09
   days on market $67,000 Active 367 DOM
9. 2026-06-08
   days on market $67,000 Active 366 DOM
10. 2026-06-07
    days on market $67,000 Active 365 DOM
11. 2026-06-03
    days on market $67,000 Active 361 DOM
12. 2026-06-02
    days on market $67,000 Active 360 DOM
13. 2026-06-01
    days on market $67,000 Active 359 DOM
14. 2026-05-31
    days on market $67,000 Active 358 DOM
15. 2026-05-31
    days on market $67,000 Active 357 DOM
16. 2026-02-16
    price $67,000
17. 2026-01-13
    price $74,900
18. 2026-01-13
    status Active
19. 2025-09-08
    historical
20. 2025-06-10
    price $79,900
21. 2025-04-08
    price $84,000
22. 2025-02-26
    price $90,000
23. 2025-01-31
    listed $105,000 Active
24. 2023-01-03
    soldstatus $860,000
25. 2007-04-17
    soldstatus $35,000
26. 2002-04-04
    soldstatus $55,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $789 · $66/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% 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: $10,500
• − Mortgage interest: −$3,753
• − Property taxes: −$789
• − Insurance: −$335
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$1,949
• Taxable income: $1,993
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,476/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Mayodan

• Score: 60/100
• State rank: #523
• US rank: #19383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mayodan, NC
• Population (ZIP): 3,950

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 2% Serbian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.45%
• Current HPI: 242.6839
• 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

+21.8% since first listed

11 events — show timeline

• 2026-02-16 Price Changed $67,000 Triad MLS
• 2026-01-13 Price Changed $74,900 Triad MLS
• 2026-01-13 Relisted — Triad MLS
• 2025-09-08 Delisted — Triad MLS
• 2025-06-10 Price Changed $79,900 Triad MLS
• 2025-04-08 Price Changed $84,000 Triad MLS
• 2025-02-26 Price Changed $90,000 Triad MLS
• 2025-01-31 Listed $105,000 Triad MLS
• 2023-01-03 Sold (Public Records) $860,000 Public Records
• 2007-04-17 Sold (Public Records) $35,000 Public Records
• 2002-04-04 Sold (Public Records) $55,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $789 · +0.0% YoY. Source: county tax records.