481 Mount Hebron Rd · Centerville, NC 27816

$185,000

2 bd · 1.5 ba · 1,400 sqft · Manufactured public records · 9 Days on market

Built 1991 8.31 ac lot

---

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 +8.4/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.6/10.0

Listing remarks MLS

Set on over 8 acres of open countryside, this property offers a rare opportunity to create a private retreat tailored to your lifestyle. The home features 3 bedrooms and 2 bathrooms with a layout that invites customization, making it easy to reimagine the space to suit your needs. Generous acreage provides room to expand, garden, or simply enjoy the quiet surroundings, with ample space for outdoor living, recreation, or future improvements. Whether you're looking for a full-time residence or a weekend escape, this property delivers the flexibility and setting to bring your vision to life while enjoying the peace and privacy of country living.

Key facts

• Country living
• Generous acreage
• Over 8 acres

Tags

• OVER 8 ACRES
• PRIVATE RETREAT
• GENEROUS ACREAGE
• QUIET SURROUNDINGS
• OUTDOOR LIVING
• COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (33.6% below list).
• Recommended offer: $123k (33.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#280 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Laurel Mill Elementary (math 37% / reading 32%, grade F, #835 of 1,410 statewide, top 62%, 314 students, 80% FRL); Terrell Lane Middle (math 26% / reading 34%, grade F, #335 of 475 statewide, top 72%, 395 students, 79% FRL); Louisburg Magnet High (math 47% / reading 52%, grade D, #311 of 535 statewide, top 60%, 536 students, 69% FRL) — zoned schools average 76% FRL vs 54% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 60 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $8k appreciation (4.5% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $122,782 (33.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Crime grade is D 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.66% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.88%
• DSCR: 0.83
• GRM: 12.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.47% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.51×
• Total profit: $26,381
• Equity at exit: $98,954

10-year hold

• IRR: 10.1%
• Equity multiple: 2.77×
• Total profit: $91,652
• Equity at exit: $166,105

Cash invested: $51,800 (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 27816

• Home prices YoY: 2.5%
• Active inventory: 60
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$90 /mo · $1,081/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-167

Break-even live

Break-even rent $1,440

Max offer price $155,431

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-115	+0% $-167	+5% $-220	+10% $-272
Rent	-10% $-264	-5% $-216	+0% $-167	+5% $-119	+10% $-70
Rate	-1.0pp $-74	-0.5pp $-120	base $-167	+0.5pp $-215	+1.0pp $-264

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-31
   remarks 650-char remark
2. 2026-05-31
   listed $185,000 Pending 9 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: $1,081 · $90/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$436/yr (+$36/mo · 40.3%)

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

Taxation est. · year 1

• Rental income: $14,734
• − Mortgage interest: −$10,363
• − Property taxes: −$1,081
• − Insurance: −$925
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$5,382
• Taxable loss: −$5,375
• Est. tax savings @ 24.0%: +$1,290
• After-tax cash flow: $-719/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Centerville

• Score: 66/100
• State rank: #280
• US rank: #12074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,964

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 37% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.47%
• Current HPI: 184.5793
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-26 Pending — Hive MLS
• 2026-03-26 Pending — TMLS
• 2026-03-17 Listed $185,000 Hive MLS
• 2026-03-17 Listed $185,000 TMLS

Property tax history

+0.9%/yr

Latest (2025): $1,081 · +0.0% YoY. Source: county tax records.