2921 Eric St · Fuquay-Varina, NC 27592

$139,900

2 bd · 2.0 ba · 1,100 sqft · Manufactured · 13 Days on market

Built 1998 0.69 ac lot Est $234k · 40% under

---

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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great lot in awesome location! . 69 acres no HOA, Currently has a Single Wide on it that will Stay AS/IS, This is a CASH AS/IS Deal and price, Inside is nice and could be lived in right away. Can sell/Remove and build a SFH. Septic and Aqua water etc onsite. 30'RV Plug, 2 Beds Two Full Baths Open/Living Kitchen AREA. Only bring qualified/Capable (Cash Buyers) Please.

Key facts

• 69 acres
• 30 rv plug
• Cash as is deal

Tags

• 69 ACRES
• NO HOA
• CASH AS IS DEAL
• SEPTIC AND AQUA WATER
• 30 RV PLUG

Property features AI

Finance

• Other: Lot approximately 0.69 acres; Zoning: R-30
• HOA & community: No association; No community amenities

Exterior

• Parking: Open parking for 4 vehicles; 30" RV plug
• Utilities: Septic tank; Community water (and other); Publicly maintained county road with asphalt surface
• Home design: Manufactured single-wide home; One story; Fixer condition; 1998 model (Redmond)
• Construction: Metal siding; Other roof; No foundation (mobile home remains on site); Built/Manufactured 1998
• Exterior features: Covered rear patio/porch; Rear porch; Fenced yard with privacy wood fencing (front and back)

Interior

• Kitchen: Dishwasher; Range hood; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Space heater; ENERGY STAR/ACCA RSI qualified installation; Central air; Ceiling fan(s)
• Interior features: Bathtub/shower combination; Separate shower; Ceiling fan(s)
• Laundry & utility: In-unit laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.7% vs local median 3.0% in Fuquay-Varina — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 249 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $140k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% 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 $139,900

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: 1.22% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.58%
• DSCR: 1.69
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $234,300
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3208 Norman Blalock Rd	0.72mi	3/2.0 (+1)	1,152 (+5%)	6mo	$245,000	$213	49

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $9,676
• Equity at exit: $20,860

10-year hold

• IRR: 15.7%
• Equity multiple: 2.27×
• Total profit: $49,922
• Equity at exit: $12,096

Cash invested: $39,172 (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 27592

• Home prices YoY: -17.9%
• Active inventory: 249
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $509

Break-even live

Break-even rent $1,056

Max offer price $139,900

Occupancy floor 65%

Sensitivity live

Price	-10% $588	-5% $548	+0% $509	+5% $469	+10% $430
Rent	-10% $374	-5% $442	+0% $509	+5% $576	+10% $643
Rate	-1.0pp $579	-0.5pp $544	base $509	+0.5pp $472	+1.0pp $436

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10917 Fanny Brown Rd Raleigh, NC	3.0	2.0	1315	$1,995	$1.52	17d	1	0.84mi

Listing history 11 events

1. 2026-06-18
   days on market $139,900 Active 13 DOM
2. 2026-06-17
   price $139,900 Active 12 DOM
3. 2026-06-17
   days on market $160,000 Active 12 DOM
4. 2026-06-16
   days on market $160,000 Active 11 DOM
5. 2026-06-15
   days on market $160,000 Active 10 DOM
6. 2026-06-13
   days on market $160,000 Active 8 DOM
7. 2026-06-13
   days on market $160,000 Active 7 DOM
8. 2026-06-09
   days on market $160,000 Active 4 DOM
9. 2026-06-08
   days on market $160,000 Active 3 DOM
10. 2026-06-07
    remarks 369-char remark
11. 2026-06-07
    listed $160,000 Active 2 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: $512 · $43/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$636/yr (+$53/mo · 124.2%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,405
• − Mortgage interest: −$7,837
• − Property taxes: −$512
• − Insurance: −$700
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$4,070
• Taxable income: $4,022
• Est. tax owed @ 24.0%: −$965
• After-tax cash flow: $5,139/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: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Fuquay-Varina

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Johnston County · 175,441 people
• Metro: Raleigh-Cary, NC
• Population (ZIP): 21,114
• Household income: $104,252
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 84.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Italian 5% Serbian 2% Slovak 2%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 11% German/W. Germanic 2%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.54%
• Current HPI: 254.0078
• Rent YoY: —
• Metro: Raleigh-Cary, 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

+400.0% since first listed

4 events — show timeline

• 2026-06-05 Listed $160,000 TMLS
• 2012-12-31 Sold (Public Records) $31,500 Public Records
• 2012-10-19 Listing Removed — TMLS
• 2012-09-29 Listed $32,000 TMLS

Property tax history

+8.7%/yr

Latest (2025): $512 · +3.0% YoY. Source: county tax records.