97 Joines Park Rd · Sparta, NC 28627

$79,802

3 bd · 2.0 ba · 1,140 sqft · Other · 37 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the B- 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

SPACIOUS 3 BED & acirc; & euro; & cent; 2 BATH OPEN-CONCEPT HOME & acirc; & euro; & ldquo; $79,802! ?? Step into comfort and flow with this beautifully designed 3 bedroom, 2 bathroom manufactured home featuring an open-concept layout, perfect for both everyday living and easy entertaining. - Price: $79,802 - Flexible financing available - Located in a quiet, well-kept community - What You & acirc; & euro; & trade; ll Love: * Bright, open layout with great natural flow * Spacious living, kitchen, and dining areas * 3 bedrooms with room to grow, relax, or work from home * 2 full bathrooms for added convenience - Lot Rent Includes: Trash service

Key facts

• Built 2026
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $80k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 44 active listings in the ZIP; 91 units permitted in Alleghany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($552 loan paydown + $949 appreciation (1.2% local appreciation)).
• Alleghany County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,407 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.25% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.77×
• Total profit: $17,206
• Equity at exit: $28,033

10-year hold

• IRR: 18.2%
• Equity multiple: 3.25×
• Total profit: $50,210
• Equity at exit: $37,872

Cash invested: $22,345 (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 28627

• Home prices YoY: 0.5%
• Active inventory: 44
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$418
• Tax est. 1.5%: −$100 /mo · $1,197/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $235

Break-even live

Break-even rent $698

Max offer price $79,802

Occupancy floor 71%

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: $19,950
• Closing costs: $2,394
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $79,802 Active 37 DOM
2. 2026-06-17
   days on market $79,802 Active 36 DOM
3. 2026-06-16
   days on market $79,802 Active 35 DOM
4. 2026-06-15
   days on market $79,802 Active 34 DOM
5. 2026-06-13
   days on market $79,802 Active 32 DOM
6. 2026-06-12
   days on market $79,802 Active 31 DOM
7. 2026-06-09
   days on market $79,802 Active 28 DOM
8. 2026-06-08
   days on market $79,802 Active 27 DOM
9. 2026-06-07
   days on market $79,802 Active 26 DOM
10. 2026-06-07
    days on market $79,802 Active 25 DOM
11. 2026-06-04
    days on market $79,802 Active 22 DOM
12. 2026-06-02
    days on market $79,802 Active 21 DOM
13. 2026-06-01
    days on market $79,802 Active 20 DOM
14. 2026-05-31
    days on market $79,802 Active 19 DOM
15. 2026-05-12
    listed $79,802 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: $11,944
• − Mortgage interest: −$4,470
• − Property taxes: −$1,197
• − Insurance: −$399
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,322
• Taxable income: $1,645
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $2,423/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

The home is a manufactured home with average exterior condition and some wear and tear. It has a spacious and open-concept interior, but the exterior and landscaping could benefit from some maintenance and improvements to increase its value.

Repairs flagged

• Moderate exterior siding — The siding shows some wear and tear.
• Minor landscaping — The landscaping could benefit from some maintenance and improvement.

Value-add opportunities

• Both paint exterior siding — Painting the siding would improve the home's curb appeal and increase its value.
• Both prune trees — Pruning the trees would improve the home's curb appeal and increase its value.
• Both paint windows — Painting the windows would improve the home's curb appeal and increase its value.
• Both mow lawn — A well-maintained lawn would improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding shows some wear and tear.	Moderate	$3,000–15,000
landscaping · The landscaping could benefit from some maintenance and improvement.	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior siding — Painting the siding would improve the home's curb appeal and increase its value. ↑
• Both prune trees — Pruning the trees would improve the home's curb appeal and increase its value. ↑
• Both paint windows — Painting the windows would improve the home's curb appeal and increase its value. ↑
• Both mow lawn — A well-maintained lawn would improve the home's curb appeal and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 1,273

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▲ 1.19%
• Current HPI: 255.3596
• 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

• 2026-05-12 Listed $79,802 FSBO.com