1496 S Main St · Randleman, NC 27317

$99,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 13 Days on market

Built 1935 0.38 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 2-bedroom, 1-bath home situated on a spacious 0.38-acre lot with R2 Zoning, allowing for a variety residential possibilities and even mixed-use possibilities, subject to local regulations. Built in 1935, this property features a living room fireplace and plenty of original character ready to be restored. Previously utilized as a rental property for many years, the home has been vacant for approximately three years. Renovations were started but not completed, including removal of the kitchen sink. Whether you're an investor, renovator, business owner, or entrepreneur seeking property with potential, this is an excellent opportunity to add value. Property is being

Key facts

• Original character
• 0.38 acre lot
• Built 1935

Tags

• LIVING ROOM FIREPLACE
• ORIGINAL CHARACTER

Property features AI

Finance

• Other: Publicly maintained road access
• HOA & community: No homeowners association

Exterior

• Parking: Driveway with gravel surface
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; One story; Built in 1935; Existing structure
• Construction: Vinyl siding; Crawl space foundation; One fireplace
• Exterior features: City lot that is cleared and level; Lot is rectangular

Interior

• Kitchen: Fireplace located in the kitchen; Electric water heater
• Bedrooms: 2 rooms total (includes bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric heating; Fireplace heat source
• Interior features: Primary bedroom on the main level; Attic with permanent stairs

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.2% vs local median 3.7% in Randleman — 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 67/100 on livability (#242 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute 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: 78 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $59k; list at $100k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $99,900

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.15% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.28%
• DSCR: 1.46
• GRM: 7.2

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-923
• Equity at exit: $14,895

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $18,864
• Equity at exit: $8,638

Cash invested: $27,972 (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 27317

• Home prices YoY: -15.3%
• Active inventory: 78
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $240

Break-even live

Break-even rent $847

Max offer price $99,900

Occupancy floor 74%

Sensitivity live

Price	-10% $296	-5% $268	+0% $240	+5% $211	+10% $183
Rent	-10% $149	-5% $194	+0% $240	+5% $285	+10% $330
Rate	-1.0pp $290	-0.5pp $265	base $240	+0.5pp $214	+1.0pp $187

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2962 Forest Park Dr Unit 2962-A Randleman, NC	2.0	1.0	845	$1,150	$1.36	24d	1	0.72mi

Listing history 10 events

1. 2026-06-15
   statusdays on market $99,900 Pending 13 DOM
2. 2026-06-14
   statusdays on market $99,900 Due Diligence Period 12 DOM
3. 2026-06-10
   days on market $99,900 Active 9 DOM
4. 2026-06-09
   days on market $99,900 Active 8 DOM
5. 2026-06-08
   days on market $99,900 Active 7 DOM
6. 2026-06-07
   days on market $99,900 Active 6 DOM
7. 2026-06-05
   days on market $99,900 Active 3 DOM
8. 2026-06-03
   days on market $99,900 Active 2 DOM
9. 2026-06-02
   remarks 699-char remark
10. 2026-06-02
    listed $99,900 Active 1 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: $1,241 · $103/mo
• Projected year-2 tax: $1,241 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 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: $13,800
• − Mortgage interest: −$5,596
• − Property taxes: −$1,241
• − Insurance: −$500
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,906
• Taxable income: $1,350
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $2,551/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 — Randleman

• Score: 67/100
• State rank: #242
• US rank: #10980

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Randleman, NC
• Population (ZIP): 17,769

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 7% Black 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Serbian 7% Slovak 3% Italian 2%
• Foreign-born: 6% · 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: ▼ -43.66%
• Current HPI: 241.7323
• 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

+69.3% since first listed

2 events — show timeline

• 2026-06-01 Listed $99,900 Triad MLS
• 1998-10-08 Sold (Public Records) $59,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,241 · +0.0% YoY. Source: county tax records.