212 S Upright St · Landis, NC 28088

$249,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 49 Days on market

Built 1999 0.34 ac lot

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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 +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold as-is, where-is. This vacant property at 212 S Upright St, Landis, NC offers an opportunity for investors or buyers looking for a renovation project. The home needs updates throughout and is priced accordingly. Utilities are currently on; however, several light bulbs are not functioning, and buyers are encouraged to verify all systems independently. Cash or hard money financing only. No repairs will be made by the seller. Buyer to perform all due diligence regarding condition, permits, zoning, and utility functionality prior to closing. Located in Rowan County with convenient access to local amenities and major routes.

Key facts

• 0.34 acre lot
• Built 1999
• Listed 48 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: City water; Public sewer
• Home design: Manufactured single-family home; One level
• Construction: Partial brick and vinyl siding; Crawl space foundation
• Exterior features: Asphalt paved driveway; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Heat pump; Central air
• Interior features: Six total rooms; Heat pump heating; Central air conditioning; Crawl space foundation
• Laundry & utility: Laundry in a common area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $249k.

Deal economics

• At list price, monthly cash flow is $42 ($506/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 $197k (21.0% below list).
• Recommended offer: $197k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Landis — 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 74/100 on livability (#65 in NC, #4,961 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 39% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $249k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $196,630 (21.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 21% 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 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?
4. 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?
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: 0.79% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-37,763
• Equity at exit: $37,127

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-29,829
• Equity at exit: $21,529

Cash invested: $69,720 (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 28088

• Home prices YoY: -12.1%
• Active inventory: 31
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $42

Break-even live

Break-even rent $1,913

Max offer price $249,000

Occupancy floor 93%

Sensitivity live

Price	-10% $183	-5% $113	+0% $42	+5% $-28	+10% $-99
Rent	-10% $-113	-5% $-36	+0% $42	+5% $120	+10% $197
Rate	-1.0pp $168	-0.5pp $105	base $42	+0.5pp $-22	+1.0pp $-88

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 S Upright St Landis, NC	3.0	2.0	1593	$1,900	$1.19	21d	1	0.08mi
106 S Chapel St Landis, NC	2.0	1.0	970	$1,000	$1.03	24d	1	0.40mi
310 Town St Landis, NC	3.0	2.5	1450	$2,100	$1.45	24d	1	0.44mi
614 Forest Ridge Rd Kannapolis, NC	3.0	2.0	1483	$2,085	$1.41	2d	1	0.70mi
518 Landis Oak Way Landis, NC	3.0	2.5	1630	$1,400	$0.86	24d	1	0.98mi
516 Landis Oak Way Landis, NC	3.0	2.5	1576	$1,200	$0.76	13d	1	0.98mi
303 Landis Oak Way Landis, NC	3.0	2.5	1682	$1,750	$1.04	5d	1	1.08mi
105 Birch Ct China Grove, NC	3.0	2.0	1268	$1,845	$1.46	5d	1	1.40mi

Listing history 23 events

1. 2026-06-18
   days on market $249,000 Active 49 DOM
2. 2026-06-18
   price $249,000 Active 48 DOM
3. 2026-06-17
   days on market $259,000 Active 48 DOM
4. 2026-06-16
   days on market $259,000 Active 47 DOM
5. 2026-06-15
   days on market $259,000 Active 46 DOM
6. 2026-06-13
   days on market $259,000 Active 44 DOM
7. 2026-06-09
   days on market $259,000 Active 40 DOM
8. 2026-06-08
   days on market $259,000 Active 39 DOM
9. 2026-06-07
   days on market $259,000 Active 38 DOM
10. 2026-06-04
    days on market $259,000 Active 35 DOM
11. 2026-06-03
    days on market $259,000 Active 34 DOM
12. 2026-06-02
    days on market $259,000 Active 33 DOM
13. 2026-06-01
    days on market $259,000 Active 32 DOM
14. 2026-05-31
    days on market $259,000 Active 31 DOM
15. 2026-05-14
    price $259,000
16. 2026-05-08
    price $269,000
17. 2026-05-01
    listed $279,000 Active
18. 2026-04-23
    historical $279,000
19. 2026-01-14
    soldstatus $125,000 Closed 637-char remark

    Show marketing remark (637 chars)

    Sold as-is, where-is. This vacant property at 212 S Upright St, Landis, NC offers an opportunity for investors or buyers looking for a renovation project. The home needs updates throughout and is priced accordingly. Utilities are currently on; however, several light bulbs are not functioning, and buyers are encouraged to verify all systems independently. Cash or hard money financing only. No repairs will be made by the seller. Buyer to perform all due diligence regarding condition, permits, zoning, and utility functionality prior to closing. Located in Rowan County with convenient access to local amenities and major routes.

20. 2026-01-14
    soldstatus $125,000

    Show marketing remark (637 chars)

    Sold as-is, where-is. This vacant property at 212 S Upright St, Landis, NC offers an opportunity for investors or buyers looking for a renovation project. The home needs updates throughout and is priced accordingly. Utilities are currently on; however, several light bulbs are not functioning, and buyers are encouraged to verify all systems independently. Cash or hard money financing only. No repairs will be made by the seller. Buyer to perform all due diligence regarding condition, permits, zoning, and utility functionality prior to closing. Located in Rowan County with convenient access to local amenities and major routes.

21. 2025-12-30
    historical Active Under Contract 637-char remark

    Show marketing remark (637 chars)

    Sold as-is, where-is. This vacant property at 212 S Upright St, Landis, NC offers an opportunity for investors or buyers looking for a renovation project. The home needs updates throughout and is priced accordingly. Utilities are currently on; however, several light bulbs are not functioning, and buyers are encouraged to verify all systems independently. Cash or hard money financing only. No repairs will be made by the seller. Buyer to perform all due diligence regarding condition, permits, zoning, and utility functionality prior to closing. Located in Rowan County with convenient access to local amenities and major routes.

22. 2025-12-28
    listed $119,900 Active 637-char remark

    Show marketing remark (637 chars)

    Sold as-is, where-is. This vacant property at 212 S Upright St, Landis, NC offers an opportunity for investors or buyers looking for a renovation project. The home needs updates throughout and is priced accordingly. Utilities are currently on; however, several light bulbs are not functioning, and buyers are encouraged to verify all systems independently. Cash or hard money financing only. No repairs will be made by the seller. Buyer to perform all due diligence regarding condition, permits, zoning, and utility functionality prior to closing. Located in Rowan County with convenient access to local amenities and major routes.

23. 2006-03-30
    soldstatus $63,000

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $2,042 · $170/mo
• Expected delta: +$822/yr (+$68/mo · 67.3%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,596
• − Mortgage interest: −$13,948
• − Property taxes: −$1,220
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,888
• − Management: −$1,888
• − Depreciation: −$7,244
• Taxable loss: −$3,836
• Est. tax savings @ 24.0%: +$921
• After-tax cash flow: $1,427/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Landis

• Score: 74/100
• State rank: #65
• US rank: #4961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Landis, NC
• County: Rowan County · 103,630 people
• City population: 3,054
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 3,054
• Household income: $59,872
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 13.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 19% Two or more races 18% Asian 9% Black 9%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 78% English-only · Spanish 16% Chinese 6% Other Indo-European 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.45%
• Current HPI: 302.1028
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+311.1% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $259,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $269,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Listed $279,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Coming Soon $279,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-14 Sold (Public Records) $125,000 Public Records
• 2026-01-14 Sold (MLS) $125,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-30 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-12-28 Listed $119,900 CANOPYMLS as Distributed by MLS Grid
• 2006-03-30 Sold (Public Records) $63,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,220 · +0.0% YoY. Source: county tax records.