790 Lookout Tower Rd · Grover, NC 29702

$165,000

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 266 Days on market

Built 2019 1.10 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 +17.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +3.7/10.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You'll love the secluded area with roaming wildlife. It's centrally located to North and South Carolina. Central Heat and Air were just installed. Heading inside is Vinyl flooring means easy clean up. If you like the quiet life, this is the place for you. Plenty of hardwoods with natural landscaping.

Key facts

• Natural landscaping
• Secluded area
• Vinyl flooring

Tags

• SECLUDED AREA
• CENTRALLY LOCATED
• VINYL FLOORING
• HARDWOODS
• NATURAL LANDSCAPING

Property features AI

Exterior

• Home design: House
• Construction: 784 square feet (living area)
• Exterior features: 1.1-acre lot

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $56 ($676/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 $144k (12.9% below list).
• Recommended offer: $144k (12.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#637 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Cherokee 01 (rural): math 29% / reading 40% proficiency, ranked #47 of 80 in SC (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Blacksburg Primary (394 students, 100% FRL); Blacksburg Middle (math 23% / reading 32%, grade F, #147 of 229 statewide, top 66%, 360 students, 72% FRL); Blacksburg High (math 42% / reading 92%, grade B, #73 of 196 statewide, top 41%, 553 students, 80% FRL) — zoned schools average 84% FRL vs 64% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 47% at this address vs 34% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Cherokee 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 200 units permitted in Cherokee 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.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood 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 $143,684 (12.9% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 0.87% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• GRM: 9.6

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-23,163
• Equity at exit: $24,602

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-15,612
• Equity at exit: $14,266

Cash invested: $46,200 (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 29702

• Home prices YoY: -23.9%
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,437 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $56

Break-even live

Break-even rent $1,365

Max offer price $165,000

Occupancy floor 91%

Sensitivity live

Price	-10% $150	-5% $103	+0% $56	+5% $10	+10% $-37
Rent	-10% $-57	-5% $0	+0% $56	+5% $113	+10% $170
Rate	-1.0pp $139	-0.5pp $98	base $56	+0.5pp $14	+1.0pp $-30

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $165,000 Active 266 DOM
2. 2026-06-19
   days on market $165,000 Active 264 DOM
3. 2026-06-18
   days on market $165,000 Active 263 DOM
4. 2026-06-17
   days on market $165,000 Active 262 DOM
5. 2026-06-16
   days on market $165,000 Active 261 DOM
6. 2026-06-15
   days on market $165,000 Active 260 DOM
7. 2026-06-14
   days on market $165,000 Active 258 DOM
8. 2026-06-13
   days on market $165,000 Active 257 DOM
9. 2026-06-10
   days on market $165,000 Active 255 DOM
10. 2026-06-09
    days on market $165,000 Active 254 DOM
11. 2026-06-08
    days on market $165,000 Active 253 DOM
12. 2026-06-07
    days on market $165,000 Active 252 DOM
13. 2026-06-02
    days on market $165,000 Active 247 DOM
14. 2026-06-01
    days on market $165,000 Active 246 DOM
15. 2026-05-31
    days on market $165,000 Active 245 DOM
16. 2026-05-30
    days on market $165,000 Active 244 DOM
17. 2025-09-28
    listed $165,000 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: $939 · $78/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$414/yr (+$35/mo · 44.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $17,242
• − Mortgage interest: −$9,243
• − Property taxes: −$939
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$4,800
• Taxable loss: −$2,121
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,185/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: Cherokee 01
• NCES district ID: 4501500
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $34,262
• Composite: 28.39/100
• National rank: #6768
• State rank: #47 of 80 in SC

Livability — Grover

• Score: 55/100
• State rank: #637
• US rank: #23207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,855

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 58,602 people
• By 2030: 59,336 · +1.3%
• By 2040: 60,266 · +2.8%
• By 2050: 60,314 · +2.9%
• By 2075: 59,276 · +1.2%
• By 2100: 53,788 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 5% Hispanic / Latino 4%
• Common ancestry: Serbian 1% Lithuanian 1% Scottish 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -29.3pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+43.8 2016: R+41.7 2012: R+29.3 2008: R+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.63%
• Current HPI: 158.1138
• 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

1 event — show timeline

• 2025-09-28 Listed $165,000 ForSaleByOwner.com

Property tax history

+23.8%/yr

Latest (2025): $939 · +515.6% YoY. Source: county tax records.