103 Venture Trl · Norwood, NC 23706

$125,000

2 bd · 1.5 ba · 828 sqft · Other · 29 Days on market

Built 1997 Good condition $46/mo HOA · 4% of rent

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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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Appreciation +5.0/10.0
• 1% rule +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0

Listing remarks

Pack the golf cart, invite your people, and start making memories here! This is the kind of place where weekends turn into traditions and you actually unplug and enjoy the Lake Tillery lifestyle. Located in one of the more residential sections of the community, this unique property offers a larger lot and a flexible layout that has been thoughtfully expanded over time. The original 1983 Timberline 8x27 camper serves as the foundation, with additions that now include a living room, a bedroom with a half bath, and a spacious sunroom, giving you more usable space than many homes in the area. Recent updates include fresh carpet in the main living areas and bedrooms, along with LVP flooring in t

Key facts

• Parking
• Community pool
• Built 1997

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $550 (about $45.83/month); Community pool

Exterior

• Parking: Detached carport; 1 covered parking space; 1 carport space; RV access/parking
• Security: Gated community with guard
• Utilities: Water: Other; Sewer: Other; Paved road access
• Home design: Manufactured home; Residential property
• Construction: Metal siding; Vinyl siding
• Exterior features: Playground; Shed(s)

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Propane heating; Window unit cooling
• Interior features: Eat-in kitchen; 6 total rooms
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $115 ($1k/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 $113k (9.4% below list).
• Recommended offer: $113k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.9% in Norwood — 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 63/100 on livability (#410 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Montgomery County Early College (math 95% / reading 92%, grade A+, #19 of 535 statewide, top 4%, 272 students, 57% FRL).
• Zoned-school proficiency averages 94% at this address vs 32% district-wide (+62 pts) — the actual schools serving this property are materially stronger than the Montgomery County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 1 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,302 (9.4% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.91% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 9.2

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: 11.2%
• Equity multiple: 1.64×
• Total profit: $22,340
• Equity at exit: $56,205

10-year hold

• IRR: 13.3%
• Equity multiple: 2.98×
• Total profit: $69,247
• Equity at exit: $86,619

Cash invested: $35,000 (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 23706

• Active inventory: 1
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,133 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$27 /mo · $319/yr
• Insurance: −$52
• HOA: −$46
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $115

Break-even live

Break-even rent $988

Max offer price $125,000

Occupancy floor 85%

Sensitivity live

Price	-10% $186	-5% $150	+0% $115	+5% $79	+10% $44
Rent	-10% $25	-5% $70	+0% $115	+5% $160	+10% $204
Rate	-1.0pp $178	-0.5pp $147	base $115	+0.5pp $82	+1.0pp $50

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $46 · $552/yr

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 29 DOM
2. 2026-06-17
   days on market $125,000 Active 28 DOM
3. 2026-06-16
   days on market $125,000 Active 27 DOM
4. 2026-06-15
   days on market $125,000 Active 26 DOM
5. 2026-06-14
   days on market $125,000 Active 24 DOM
6. 2026-06-13
   days on market $125,000 Active 23 DOM
7. 2026-06-10
   days on market $125,000 Active 21 DOM
8. 2026-06-09
   days on market $125,000 Active 20 DOM
9. 2026-06-08
   days on market $125,000 Active 19 DOM
10. 2026-06-07
    days on market $125,000 Active 18 DOM
11. 2026-06-05
    days on market $125,000 Active 15 DOM
12. 2026-06-03
    days on market $125,000 Active 14 DOM
13. 2026-06-02
    days on market $125,000 Active 13 DOM
14. 2026-06-01
    days on market $125,000 Active 12 DOM
15. 2026-05-31
    days on market $125,000 Active 11 DOM
16. 2026-05-31
    days on market $125,000 Active 10 DOM
17. 2026-05-21
    listed $125,000 Active
18. 2026-05-20
    historical $125,000

ⓘ 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: $319 · $27/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$706/yr (+$59/mo · 220.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,596
• − Mortgage interest: −$7,002
• − Property taxes: −$319
• − Insurance: −$625
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − HOA: −$552
• − Depreciation: −$3,636
• Taxable loss: −$714
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $1,550/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 · 12 photos

Good 75/100 Cosmetic rehab

This property offers a good investment opportunity with cosmetic updates that can significantly enhance its curb appeal and value.

Repairs flagged

• Minor small bathroom — Dated fixtures and wallpaper could be replaced for a fresh look.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value.
• Resale Replace small bathroom fixtures — Upgrading fixtures can enhance the bathroom's functionality and appearance.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value by making the property more attractive and inviting.

Renovation cost estimate screening

Repair item	Severity	Est. cost
small bathroom · Dated fixtures and wallpaper could be replaced for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
• Resale Replace small bathroom fixtures — Upgrading fixtures can enhance the bathroom's functionality and appearance. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value by making the property more attractive and inviting. ↑

ⓘ 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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Norwood

• Score: 63/100
• State rank: #410
• US rank: #15485

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $125,000 LPRMLS
• 2026-05-20 Coming Soon $125,000 LPRMLS

Property tax history

+0.0%/yr

Latest (2025): $319 · +0.0% YoY. Source: county tax records.