1913 Caraway Ct · Asheboro, NC 27350

$140,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 23 Days on market

Built 1997

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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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1997 3 BR/2BA home on . 86 of an acre partially fenced in. (Needs Repairs) Has no HVAC. Needs some painting and flooring or carpet. Minor other repairs like pipes under the bathroom sinks. Cabinet doors and drawers. Front porch rails

Key facts

• Built 1997
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/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 $136k (3.2% below list).
• Recommended offer: $136k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 2.9% in Asheboro — 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 72/100 on livability (#85 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime F, amenities F.
• Randolph County School System (rural): math 43% / reading 43% proficiency, ranked #94 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,511 (3.2% 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. 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?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.35%
• DSCR: 1.28
• GRM: 8.6

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-9,519
• Equity at exit: $20,874

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $8,545
• Equity at exit: $12,105

Cash invested: $39,200 (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 27350

• Home prices YoY: -11.7%
• Active inventory: 22
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$71 /mo · $847/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $207

Break-even live

Break-even rent $1,093

Max offer price $140,000

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $140,000 Active 23 DOM
2. 2026-06-17
   days on market $140,000 Active 22 DOM
3. 2026-06-16
   days on market $140,000 Active 21 DOM
4. 2026-06-15
   days on market $140,000 Active 20 DOM
5. 2026-06-14
   days on market $140,000 Active 18 DOM
6. 2026-06-10
   days on market $140,000 Active 15 DOM
7. 2026-06-09
   days on market $140,000 Active 14 DOM
8. 2026-06-08
   days on market $140,000 Active 13 DOM
9. 2026-06-07
   days on market $140,000 Active 12 DOM
10. 2026-06-05
    days on market $140,000 Active 9 DOM
11. 2026-06-03
    days on market $140,000 Active 8 DOM
12. 2026-06-02
    days on market $140,000 Active 7 DOM
13. 2026-06-01
    days on market $140,000 Active 6 DOM
14. 2026-05-31
    days on market $140,000 Active 5 DOM
15. 2026-05-31
    days on market $140,000 Active 4 DOM
16. 2026-05-27
    listed $140,000 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: $847 · $71/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$301/yr (+$25/mo · 35.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,261
• − Mortgage interest: −$7,842
• − Property taxes: −$847
• − Insurance: −$700
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$4,073
• Taxable income: $197
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $2,442/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: Randolph County School System
• NCES district ID: 3703780
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 43% ▲ 2.00%
• Median HH income: $43,490
• Composite: 36.37/100
• National rank: #4686
• State rank: #94 of 178 in NC

Livability — Asheboro

• Score: 72/100
• State rank: #85
• US rank: #5921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 60,171
• Population (ZIP): 6,110

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Serbian 3% Romanian 3%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.79%
• Current HPI: 247.3879
• 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

• 2026-05-27 Listed $140,000 FSBO.com

Property tax history

+5.5%/yr

Latest (2025): $847 · +1.5% YoY. Source: county tax records.