106 Mcclendon Ct · Richlands, NC 28574

$180,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 9 Days on market

Built 2001 1.43 ac lot Est $164k · 10% over

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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 +24.0/30.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• Schools +3.9/10.0
• Livability +3.5/5.0
• ARV discount +3.2/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ideal rental property, this manufactured home sits on a quiet cul-de-sac in Richlands area. A little bit of elbow grease and this home will be tenant-ready! Unbelievable price $21,500. Sold ''''as is''''. Proof of funds required with all offers.

Key facts

• 1.43 acre lot
• Built 2001
• Listed 9 days

Property features AI

Finance

• Other: Zoning: R-8M
• HOA & community: No association amenities

Exterior

• Parking: On-site unpaved parking
• Security: Smoke detector(s)
• Utilities: Public water; Water connected; Septic tank
• Home design: Manufactured home (residential); One level / 1 story; Entry level is 1
• Construction: Vinyl siding with frame construction; Shingle roof
• Exterior features: Deck; Rear porch; Wood fencing in backyard; Shed(s); Has a view; Cul-de-sac lot

Interior

• Kitchen: Electric oven; Electric cooktop; Refrigerator; Dishwasher
• Bedrooms: Total rooms: 5
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating and central air conditioning; Fireplace(s); Electric heating
• Interior features: Walk-in closets; Ceiling fans; Eat-in kitchen; Unfurnished; Crawl space basement
• Laundry & utility: Washer hookup in hall; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/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 $180k (0.1% below list).
• Recommended offer: $180k (0.1% below list) — sets the bar for 1% rule.
• Cap rate 8.6% vs local median 4.0% in Richlands — 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 69/100 on livability (#151 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Onslow County Schools (other): math 42% / reading 49% proficiency, ranked #84 of 178 in NC (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richlands Elementary (math 44% / reading 40%, grade F, #633 of 1,410 statewide, top 48%, 642 students, 52% FRL); Trexler Middle (math 37% / reading 46%, grade F, #206 of 475 statewide, top 44%, 825 students, 45% FRL); Richlands High (math 52% / reading 67%, grade C+, #216 of 535 statewide, top 43%, 960 students, 40% FRL).
• Market conditions: 200 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,246 units permitted in Onslow County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $21k; list at $180k implies a 757% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 93% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,814 (0.1% 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. 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.
3. 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.
4. 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: 1.00% ✗
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $164,160
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Edgewater Ln	0.21mi	2/2.0 (-1)	1,064 (-12%)	4mo	$95,000	$89	61
115 Grassy Meadow Dr	0.39mi	3/2.0	1,372 (+13%)	3mo	$185,000	$135	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-6,830
• Equity at exit: $26,839

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $22,591
• Equity at exit: $15,563

Cash invested: $50,400 (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 28574

• Home prices YoY: -8.9%
• Active inventory: 200
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$50 /mo · $595/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $352

Break-even live

Break-even rent $1,353

Max offer price $180,000

Occupancy floor 75%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Stockton Ct Richlands, NC	3.0	2.0	1221	$1,750	$1.43	21d	1	0.14mi
2430 Catherine Lake Rd Richlands, NC	2.0	1.0	980	$850	$0.87	13d	1	0.55mi

Listing history 10 events

1. 2026-06-01
   status $180,000 Pending 9 DOM
2. 2026-05-31
   days on market $180,000 Active 9 DOM
3. 2026-05-30
   days on market $180,000 Active 8 DOM
4. 2026-05-22
   listed $180,000 Active
5. 2014-09-11
   soldstatus $21,000 245-char remark

   Show marketing remark (245 chars)

   Ideal rental property, this manufactured home sits on a quiet cul-de-sac in Richlands area. A little bit of elbow grease and this home will be tenant-ready! Unbelievable price $21,500. Sold ''''as is''''. Proof of funds required with all offers.

6. 2014-07-31
   listed $21,500 245-char remark

   Show marketing remark (245 chars)

   Ideal rental property, this manufactured home sits on a quiet cul-de-sac in Richlands area. A little bit of elbow grease and this home will be tenant-ready! Unbelievable price $21,500. Sold ''''as is''''. Proof of funds required with all offers.

7. 2013-11-04
   historical
8. 2013-09-12
   listed $24,500
9. 2010-03-30
   soldstatus $83,000
10. 2007-06-11
    soldstatus $78,500

ⓘ 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: $595 · $50/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$881/yr (+$73/mo · 147.9%)

ⓘ 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 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 93% 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: $21,578
• − Mortgage interest: −$10,083
• − Property taxes: −$595
• − Insurance: −$900
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$5,236
• Taxable income: $1,311
• Est. tax owed @ 24.0%: −$315
• After-tax cash flow: $3,909/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: Onslow County Schools
• NCES district ID: 3703450
• Math proficiency: 42% ▲ 6.00%
• Reading proficiency: 49% ▲ 5.00%
• Median HH income: $46,076
• Composite: 38.66/100
• National rank: #4148
• State rank: #84 of 178 in NC

Livability — Richlands

• Score: 69/100
• State rank: #151
• US rank: #8426

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Onslow County · 164,453 people
• City population: 20,990
• Metro: Jacksonville, NC
• Population (ZIP): 20,990
• Household income: $67,416
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 287.0

Population outlook (Onslow County) Hauer SSP2

• Today (2025): 189,789 people
• By 2030: 194,463 · +2.5%
• By 2040: 193,629 · +2.0%
• By 2050: 193,248 · +1.8%
• By 2075: 196,995 · +3.8%
• By 2100: 201,513 · +6.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 13% Hispanic / Latino 8% Black 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Onslow

• 2024 margin: Solid R (+35.9) · D 31.5% · R 67.5% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -21.5pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+30.2 2016: R+34.6 2012: R+27.0 2008: R+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.07%
• Current HPI: 215.4574
• Rent YoY: —
• Metro: Jacksonville, NC
• 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

+129.3% since first listed

7 events — show timeline

• 2026-05-22 Listed $180,000 Hive MLS
• 2014-09-11 Sold (MLS) $21,000 Hive MLS
• 2014-07-31 Listed $21,500 Hive MLS
• 2013-11-04 Listing Removed — Hive MLS
• 2013-09-12 Listed $24,500 Hive MLS
• 2010-03-30 Sold (Public Records) $83,000 Public Records
• 2007-06-11 Sold (Public Records) $78,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $595 · +0.0% YoY. Source: county tax records.