412 Lanoca Ave · Laurinburg, NC 28352

$159,900

3 bd · 1.5 ba · 1,443 sqft · SingleFamily public records · 45 Days on market

Built 1953 0.50 ac lot Est $136k · 18% over

---

Why this score? — see what drove the D- 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 +17.1/30.0
• DSCR +5.3/10.0
• 1% rule +3.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

BEAUTIFUL WOOD FLOORS, BUILT IN KITCHEN HUTCH, BUILT IN CORNER CABINET IN LIVING ROOM, BUILT IN DESK IN BEDROOM, LOTS OF SPECIAL CHARM. EXTRA LOT INCLUDED FOR ACCESS DRIVEWAY WHICH GIVES YOU OVER AN ACRE. LOCATED ACROSS FROM THE PRESBYTERIAN CHURCH AND CLOSE TO DOWNTOWN SHOPPING, SCHOOLS, RESTAURANTS.

Key facts

• Hardwood floors
• 0.5 acre lot
• Parking

Tags

• HARDWOOD FLOORS

Property features AI

Exterior

• Parking: On-site parking; Carport with 1 space
• Utilities: Public water; Sewer connected; Water connected
• Home design: Single-family residence; One level (single story); Entry level is 1
• Construction: Asbestos and frame construction
• Exterior features: Enclosed porch; Porch; Shingle roof; Has a view; City street and state road frontage; Irregular lot dimensions

Interior

• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Vinyl and wood flooring; Crawl space basement; 7 total rooms; Central air conditioning; Natural gas heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $110 ($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 $135k (15.7% below list).
• Recommended offer: $135k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.3% in Laurinburg — 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 56/100 on livability (#632 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Scotland County Schools (town): math 23% / reading 28% proficiency, ranked #160 of 178 in NC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spring Hill Middle (math 25% / reading 29%, grade F, #374 of 475 statewide, top 80%, 643 students, 99% FRL); Scotland High School (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,445 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

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.
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $25k; list at $160k implies a 540% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,762 (15.7% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $135,642
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Cleveland St	0.45mi	3/1.0	1,360 (-6%)	13mo	$25,000	$18	57
223 W Vance St	0.45mi	3/1.5	1,580 (+10%)	11mo	$170,000	$108	54
513 Atkinson St	0.40mi	3/1.0	1,280 (-11%)	11mo	$125,000	$98	52
420 N King St	0.59mi	3/2.0	1,492 (+3%)	17mo	$140,000	$94	51
421 James St	0.64mi	2/2.0 (-1)	1,478 (+2%)	11mo	$152,200	$103	50
710 Pine St	0.69mi	4/1.0 (+1)	1,322 (-8%)	1mo	$25,000	$19	46
218 West Blvd	0.50mi	3/1.5	1,656 (+15%)	7mo	$155,000	$94	46
414 Yadkin Ave	0.71mi	3/1.5	1,250 (-13%)	1mo	$53,000	$42	44
409 Cleveland St	0.47mi	3/1.0	1,601 (+11%)	18mo	$50,000	$31	42
1303 Dogwood Ln	0.71mi	3/2.0	1,600 (+11%)	5mo	$185,000	$116	42
321 Midland Way	0.64mi	3/2.0	1,648 (+14%)	11mo	$156,000	$95	35
402 Yadkin Ave	0.70mi	3/1.5	1,238 (-14%)	12mo	$48,000	$39	34

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-18,967
• Equity at exit: $23,842

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-7,776
• Equity at exit: $13,825

Cash invested: $44,772 (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 28352

• Home prices YoY: -3.4%
• Active inventory: 157
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $110

Break-even live

Break-even rent $1,208

Max offer price $159,900

Occupancy floor 87%

Sensitivity live

Price	-10% $201	-5% $155	+0% $110	+5% $65	+10% $20
Rent	-10% $4	-5% $57	+0% $110	+5% $163	+10% $217
Rate	-1.0pp $191	-0.5pp $151	base $110	+0.5pp $69	+1.0pp $27

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $159,900 Active 45 DOM
2. 2026-06-18
   days on market $159,900 Active 42 DOM
3. 2026-06-17
   days on market $159,900 Active 41 DOM
4. 2026-06-16
   days on market $159,900 Active 40 DOM
5. 2026-06-15
   days on market $159,900 Active 39 DOM
6. 2026-06-14
   days on market $159,900 Active 37 DOM
7. 2026-06-13
   days on market $159,900 Active 36 DOM
8. 2026-06-10
   days on market $159,900 Active 34 DOM
9. 2026-06-09
   days on market $159,900 Active 33 DOM
10. 2026-06-08
    days on market $159,900 Active 32 DOM
11. 2026-06-07
    days on market $159,900 Active 31 DOM
12. 2026-06-05
    days on market $159,900 Active 28 DOM
13. 2026-06-03
    days on market $159,900 Active 27 DOM
14. 2026-06-02
    days on market $159,900 Active 26 DOM
15. 2026-06-01
    days on market $159,900 Active 25 DOM
16. 2026-05-31
    days on market $159,900 Active 24 DOM
17. 2026-05-30
    days on market $159,900 Active 23 DOM
18. 2026-05-07
    listed $159,900 Active
19. 2026-02-28
    historical
20. 2025-12-03
    price $159,900
21. 2025-11-17
    listed $169,900 Active
22. 2015-09-30
    soldstatus $25,000 302-char remark

    Show marketing remark (302 chars)

    BEAUTIFUL WOOD FLOORS, BUILT IN KITCHEN HUTCH, BUILT IN CORNER CABINET IN LIVING ROOM, BUILT IN DESK IN BEDROOM, LOTS OF SPECIAL CHARM. EXTRA LOT INCLUDED FOR ACCESS DRIVEWAY WHICH GIVES YOU OVER AN ACRE. LOCATED ACROSS FROM THE PRESBYTERIAN CHURCH AND CLOSE TO DOWNTOWN SHOPPING, SCHOOLS, RESTAURANTS.

23. 2014-07-11
    listed $49,900 302-char remark

    Show marketing remark (302 chars)

    BEAUTIFUL WOOD FLOORS, BUILT IN KITCHEN HUTCH, BUILT IN CORNER CABINET IN LIVING ROOM, BUILT IN DESK IN BEDROOM, LOTS OF SPECIAL CHARM. EXTRA LOT INCLUDED FOR ACCESS DRIVEWAY WHICH GIVES YOU OVER AN ACRE. LOCATED ACROSS FROM THE PRESBYTERIAN CHURCH AND CLOSE TO DOWNTOWN SHOPPING, SCHOOLS, RESTAURANTS.

24. 2011-06-01
    soldstatus $70,000

ⓘ 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: $592 · $49/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$719/yr (+$60/mo · 121.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,171
• − Mortgage interest: −$8,957
• − Property taxes: −$592
• − Insurance: −$800
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$4,652
• Taxable loss: −$1,416
• Est. tax savings @ 24.0%: +$340
• After-tax cash flow: $1,662/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: Scotland County Schools
• NCES district ID: 3704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $31,203
• Composite: 20.66/100
• National rank: #8536
• State rank: #160 of 178 in NC

Livability — Laurinburg

• Score: 56/100
• State rank: #632
• US rank: #22962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurinburg, NC
• City population: 24,177
• Population (ZIP): 24,177

Population outlook (Scotland County) Hauer SSP2

• Today (2025): 33,331 people
• By 2030: 32,017 · -3.9%
• By 2040: 29,290 · -12.1%
• By 2050: 26,554 · -20.3%
• By 2075: 19,857 · -40.4%
• By 2100: 13,851 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 37% Native American 11% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Scotland

• 2024 margin: Lean R (+6.9) · D 46.2% · R 53.1%
• 2008→2024 swing: -22.0pp toward R · 2008: 15.1pp · 2024: -6.9pp
• All cycles: 2024: R+6.9 2020: R+1.9 2016: D+7.8 2012: D+16.6 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.08%
• Current HPI: 255.331
• 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

+128.4% since first listed

7 events — show timeline

• 2026-05-07 Listed $159,900 Hive MLS
• 2026-02-28 Listing Removed — Hive MLS
• 2025-12-03 Price Changed $159,900 Hive MLS
• 2025-11-17 Listed $169,900 Hive MLS
• 2015-09-30 Sold (MLS) $25,000 Hive MLS
• 2014-07-11 Listed $49,900 Hive MLS
• 2011-06-01 Sold (Public Records) $70,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $592 · +2.4% YoY. Source: county tax records.