123 Deer Haven Rd · Sparta, NC 28675

$119,900

3 bd · 1.0 ba · 768 sqft · SingleFamily public records · 14 Days on market

Built 1961 0.94 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home in Sparta is selling as-is, where-is, see agent only for information on submitting offers, Buyer/Agent shall verify all systems and information given. Multi-offers are in place, the seller will set a highest and best period and we will post as as soon as they do. Seller does not prorate taxes or pay delinquent taxes. Buyer assumes all closing and deed costs.

Key facts

• 0.94 acre lot
• Built 1961
• Listed 14 days

Property features AI

Finance

• Other: Building area reported as 1,536 total; Basement area reported as 768
• HOA & community: No homeowner association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Single-story house; Stick/site-built residential structure; Built in 1961; Existing structure
• Construction: Construction details referenced in remarks; No fireplaces reported
• Exterior features: Public-maintained road access; Lot close to one acre (approximately 0.94 acre)

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heat (oil-fired); No central cooling
• Interior features: Primary bedroom located on the main level; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $17 ($209/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 $95k (21.1% below list).
• Recommended offer: $95k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.7% in Sparta — 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 75/100 on livability (#50 in NC, #4,236 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities D+, schools F, commute F.
• Alleghany County Schools (rural): math 41% / reading 44% proficiency, ranked #104 of 178 in NC (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 216 active listings in the ZIP; 91 units permitted in Alleghany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alleghany County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,589 (21.1% below list)

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 6.47%
• Cash-on-cash: 0.62%
• 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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-18,367
• Equity at exit: $17,877

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-14,754
• Equity at exit: $10,367

Cash invested: $33,572 (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 28675

• Home prices YoY: -8.2%
• Active inventory: 216
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $946 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $17

Break-even live

Break-even rent $924

Max offer price $119,900

Occupancy floor 93%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $119,900 Active 14 DOM
2. 2026-06-17
   days on market $119,900 Active 13 DOM
3. 2026-06-16
   days on market $119,900 Active 12 DOM
4. 2026-06-15
   days on market $119,900 Active 11 DOM
5. 2026-06-13
   days on market $119,900 Active 9 DOM
6. 2026-06-12
   days on market $119,900 Active 8 DOM
7. 2026-06-09
   remarks 370-char remark
8. 2026-06-09
   days on market $119,900 Active 5 DOM
9. 2026-06-08
   days on market $119,900 Active 4 DOM
10. 2026-06-07
    days on market $119,900 Active 3 DOM
11. 2026-06-07
    remarks 206-char remark
12. 2026-06-07
    listed $119,900 Active 2 DOM

ⓘ 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: $613 · $51/mo
• Projected year-2 tax: $983 · $82/mo
• Expected delta: +$370/yr (+$31/mo · 60.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,351
• − Mortgage interest: −$6,716
• − Property taxes: −$613
• − Insurance: −$600
• − Repairs & maintenance: −$908
• − Management: −$908
• − Depreciation: −$3,488
• Taxable loss: −$1,883
• Est. tax savings @ 24.0%: +$452
• After-tax cash flow: $661/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: Alleghany County Schools
• NCES district ID: 3700120
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $34,855
• Composite: 35.12/100
• National rank: #5014
• State rank: #104 of 178 in NC

Livability — Sparta

• Score: 75/100
• State rank: #50
• US rank: #4236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,702
• Population (ZIP): 6,702

Population outlook (Alleghany County) Hauer SSP2

• Today (2025): 10,103 people
• By 2030: 9,631 · -4.7%
• By 2040: 8,468 · -16.2%
• By 2050: 7,334 · -27.4%
• By 2075: 5,239 · -48.1%
• By 2100: 3,962 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5% Cuban 1%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Alleghany

• 2024 margin: Solid R (+52.0) · D 23.7% · R 75.6%
• 2008→2024 swing: -31.0pp toward R · 2008: -21.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.0 2016: R+47.7 2012: R+35.9 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.69%
• Current HPI: 252.6077
• 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

• 2026-06-04 Listed $119,900 Triad MLS

Property tax history

+4.0%/yr

Latest (2025): $613 · +0.0% YoY. Source: county tax records.