38 Emerald Ln · Mamers, NC 27505

$270,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured · 207 Days on market

Built 2025 1.76 ac lot Est $261k · at est. ↓ 8% since listing

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Why this score? — see what drove the C- 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 +21.9/30.0
• DSCR +7.0/10.0
• ARV discount +5.9/15.0
• 1% rule +5.7/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATED SELLERS -- BRING YOUR OFFER! Welcome to your slice of country paradise! This brand-new 3-bedroom, 2-bath manufactured home is perfectly situated on nearly 2 acres of unrestricted land, offering the freedom to live exactly how you want. Step inside to an open-concept floor plan filled with natural light, where new blinds throughout add a polished touch to the bright, airy living spaces--ideal for both relaxing and entertaining. Outside, the possibilities are truly endless. You can create your dream lifestyle--whether that's building a workshop, starting a garden, bringing your animals, or simply soaking in the peace, privacy, and wide-open space. Enjoy the perfect blend of modern c

Key facts

• Open floor plan
• Privacy
• Add a garden

Tags

• UNRESTRICTED LAND
• OPEN FLOOR PLAN
• BRIGHT AIRY LAYOUT
• ADD A GARDEN
• BUILD A WORKSHOP
• PRIVACY

Property features AI

Finance

• Other: Private maintained dirt county road frontage
• HOA & community: No association

Exterior

• Parking: Open parking for 4 vehicles; Driveway with gravel
• Utilities: Public water; Septic tank sewer
• Home design: Manufactured double-wide home; One level; Faces west; Shingle roof
• Construction: Vinyl siding; Built as a manufactured house
• Exterior features: 1.76-acre lot; No pool; No fencing; No additional exterior structures listed

Interior

• Kitchen: Dishwasher; Electric range; Range hood; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced air heating; Heat pump (heating and cooling); Electric cooling
• Interior features: Open floorplan; Kitchen island; Pantry; Primary bedroom on main level; Walk-in closet(s); Bathtub/shower combination; Laminate countertops; Blinds
• Laundry & utility: Main level laundry room; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.5% in Mamers — 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 63/100 on livability (#391 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Western Harnett Middle (math 34% / reading 43%, grade F, #244 of 475 statewide, top 53%, 820 students, 57% FRL); Western Harnett High (math 57% / reading 58%, grade C, #245 of 535 statewide, top 46%, 1,386 students, 60% FRL).
• Zoned-school proficiency averages 48% at this address vs 35% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Harnett County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 80 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.

Recommended offer $237,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 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 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?
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: 1.07% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $260,520
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Emerald Ln	0.00mi	3/2.0	1,560 (0%)	0mo	$260,000	$167	100

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-16,634
• Equity at exit: $40,258

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $20,556
• Equity at exit: $23,345

Cash invested: $75,600 (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 27505

• Home prices YoY: -6.9%
• Active inventory: 80
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$338 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $425

Break-even live

Break-even rent $2,362

Max offer price $270,000

Occupancy floor 80%

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2232 Adcock Rd Lillington, NC	4.0	2.0	2143	$2,900	$1.35	13d	1	1.46mi

Listing history 6 events

1. 2026-05-04
   status Pending
2. 2026-04-21
   price $270,000
3. 2026-03-25
   price $275,000
4. 2026-01-13
   price $287,900
5. 2025-11-07
   price $289,900
6. 2025-10-09
   listed $295,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,800
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$7,855
• Taxable income: $853
• Est. tax owed @ 24.0%: −$205
• After-tax cash flow: $4,896/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: Harnett County Schools
• NCES district ID: 3702010
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $45,400
• Composite: 29.88/100
• National rank: #6397
• State rank: #130 of 178 in NC

Livability — Mamers

• Score: 63/100
• State rank: #391
• US rank: #15191

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,985

Population outlook (Harnett County) Hauer SSP2

• Today (2025): 153,758 people
• By 2030: 166,581 · +8.3%
• By 2040: 192,741 · +25.4%
• By 2050: 218,332 · +42.0%
• By 2075: 275,422 · +79.1%
• By 2100: 313,511 · +103.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 20% Black 10% Two or more races 5%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3% Dominican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Harnett

• 2024 margin: Strong R (+25.1) · D 36.9% · R 62.0% · Other 1.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -16.7pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+22.4 2016: R+24.1 2012: R+19.4 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.18%
• Current HPI: 271.7709
• 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

6 events — show timeline

• 2026-05-04 Pending — TMLS
• 2026-04-21 Price Changed $270,000 TMLS
• 2026-03-25 Price Changed $275,000 TMLS
• 2026-01-13 Price Changed $287,900 TMLS
• 2025-11-07 Price Changed $289,900 TMLS
• 2025-10-09 Listed $295,000 TMLS