155 Blue Bird Hill Rd · Mulberry, NC 28651

$127,500

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 14 Days on market

Built 1998 2.64 ac lot

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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 +16.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very private singlewide located on quiet street. Master suite has double closets and master bath has garden tub and separate shower. There is a storage building and a detached 2 car carport. There are some new ceiling fans and it is a split bedroom floor plan. There is a new deck and another good sized deck as well. All appliances stay.

Key facts

• 2.64 acres
• Renovated bathrooms
• Cosmetic updates

Tags

• 2.64 ACRES
• RENOVATED BATHROOMS
• COSMETIC UPDATES
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Property listed as residential manufactured home; Road is privately maintained
• HOA & community: No association

Exterior

• Parking: Detached carport; Carport; Driveway with gravel parking; 2 garage/carport spaces
• Security: Deadbolts
• Utilities: Well water; Septic tank; Electric water heater; Private maintained road
• Home design: Manufactured home (single wide); One story; Built in 1998; Existing structure
• Construction: Block construction; Vinyl siding
• Exterior features: No fencing; Mountain and wooded views; Partially wooded and sloped lot; Rural setting; Cable available; Storage outbuilding

Interior

• Kitchen: Dishwasher; Free-standing range
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air; Window unit(s)
• Interior features: Ceiling fans; Deadbolts; Vaulted ceilings
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $68 ($813/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 $103k (19.3% below list).
• Recommended offer: $103k (19.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#284 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 44 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($882 loan paydown + $13k appreciation (10.0% local appreciation)).
• Wilkes County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $128k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $102,830 (19.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.81% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.06×
• Total profit: $73,687
• Equity at exit: $114,862

10-year hold

• IRR: 22.7%
• Equity multiple: 6.98×
• Total profit: $213,466
• Equity at exit: $247,704

Cash invested: $35,700 (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 28651

• Home prices YoY: 16.8%
• Active inventory: 44
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$23 /mo · $274/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $68

Break-even live

Break-even rent $943

Max offer price $127,500

Occupancy floor 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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $127,500 Active 14 DOM
2. 2026-06-18
   days on market $127,500 Active 13 DOM
3. 2026-06-17
   days on market $127,500 Active 12 DOM
4. 2026-06-16
   days on market $127,500 Active 11 DOM
5. 2026-06-15
   pricedays on market $127,500 Active 10 DOM
6. 2026-06-14
   days on market $129,900 Active 8 DOM
7. 2026-06-12
   days on market $129,900 Active 7 DOM
8. 2026-06-09
   days on market $129,900 Active 4 DOM
9. 2026-06-08
   days on market $129,900 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $129,900 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: $274 · $23/mo
• Projected year-2 tax: $1,046 · $87/mo
• Expected delta: +$771/yr (+$64/mo · 281.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,340
• − Mortgage interest: −$7,142
• − Property taxes: −$274
• − Insurance: −$638
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$3,709
• Taxable loss: −$1,398
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $1,148/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: Wilkes County Schools
• NCES district ID: 3704950
• Math proficiency: 55% ▲ 13.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $34,538
• Composite: 43.41/100
• National rank: #3017
• State rank: #59 of 178 in NC

Livability — Mulberry

• Score: 66/100
• State rank: #284
• US rank: #12144

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,629

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 66,349 people
• By 2030: 64,411 · -2.9%
• By 2040: 59,800 · -9.9%
• By 2050: 54,770 · -17.5%
• By 2075: 45,211 · -31.9%
• By 2100: 36,956 · -44.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Vietnam, Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3% Vietnamese 2%

Political lean MEDSL · Wilkes

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.2pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+56.6 2016: R+55.2 2012: R+42.7 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.38%
• Current HPI: 294.3413
• 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

+225.6% since first listed

5 events — show timeline

• 2026-06-05 Listed $129,900 Triad MLS
• 2018-06-25 Sold (Public Records) $50,000 Public Records
• 2015-05-18 Sold (Public Records) $38,000 Public Records
• 2015-05-18 Sold (MLS) $37,800 Triad MLS
• 2014-11-13 Listed $39,900 Triad MLS

Property tax history

+0.4%/yr

Latest (2025): $274 · +21.0% YoY. Source: county tax records.