23780 Cotton St · Wagram, NC 28396

$84,900

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 49 Days on market

Built 1951

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

Key facts

• Built 1951
• Listed 49 days

Property features AI

Finance

• Other: Property located in Scotland County, NC; Public record tax information available
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story house; Facing direction not specified
• Construction: Block construction; Shingle roof; Built-in living area of 915 (above grade)
• Exterior features: Covered front porch; Paved, publicly maintained road access; Zoned RA

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Bathtub/shower combination; Primary bedroom on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#624 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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: 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.
• Zoned-school proficiency averages 44% at this address vs 26% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Scotland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 57 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($587 loan paydown + $2k appreciation (2.1% local appreciation)).
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $25k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.23%
• DSCR: 2.12
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.60×
• Total profit: $37,954
• Equity at exit: $33,817

10-year hold

• IRR: 30.9%
• Equity multiple: 5.03×
• Total profit: $95,803
• Equity at exit: $48,953

Cash invested: $23,772 (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 28396

• Home prices YoY: 0.9%
• Active inventory: 57
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $500

Break-even live

Break-even rent $687

Max offer price $84,900

Occupancy floor 57%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $84,900 Active 49 DOM
2. 2026-06-17
   days on market $84,900 Active 48 DOM
3. 2026-06-16
   days on market $84,900 Active 47 DOM
4. 2026-06-15
   days on market $84,900 Active 46 DOM
5. 2026-06-14
   days on market $84,900 Active 44 DOM
6. 2026-06-13
   pricedays on market $84,900 Active 43 DOM
7. 2026-06-10
   days on market $89,900 Active 41 DOM
8. 2026-06-09
   days on market $89,900 Active 40 DOM
9. 2026-06-09
   price $89,900 Active 39 DOM
10. 2026-06-08
    days on market $99,000 Active 39 DOM
11. 2026-06-07
    days on market $99,000 Active 38 DOM
12. 2026-06-05
    days on market $99,000 Active 35 DOM
13. 2026-06-03
    days on market $99,000 Active 34 DOM
14. 2026-06-02
    days on market $99,000 Active 33 DOM
15. 2026-06-01
    days on market $99,000 Active 32 DOM
16. 2026-05-31
    days on market $99,000 Active 31 DOM
17. 2026-05-30
    days on market $99,000 Active 30 DOM
18. 2026-05-20
    price $99,000
19. 2026-04-30
    listed $109,900 Active
20. 2023-09-19
    soldstatus $69,527 Closed 138-char remark

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

21. 2023-09-19
    soldstatus $70,000

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

22. 2023-08-21
    status Pending 138-char remark

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

23. 2023-08-18
    status Active 138-char remark

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

24. 2023-08-12
    historical 138-char remark

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

25. 2023-07-31
    listed $69,527 Active 138-char remark

    Show marketing remark (138 chars)

    Older well maintained home. Great investment opportunity. Roof replaced in 2017. Gas Pack & central air approximately 10 years old.

ⓘ 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: $743 · $62/mo
• Projected year-2 tax: $743 · $62/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% 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: $15,833
• − Mortgage interest: −$4,756
• − Property taxes: −$743
• − Insurance: −$424
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$2,470
• Taxable income: $4,906
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,820/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 — Wagram

• Score: 56/100
• State rank: #624
• US rank: #22665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wagram, NC
• Population (ZIP): 2,384

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 0.67)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Native American 8% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Serbian 2% Portuguese 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 2.07%
• Current HPI: 239.8574
• 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

+42.4% since first listed

8 events — show timeline

• 2026-05-20 Price Changed $99,000 TMLS
• 2026-04-30 Listed $109,900 TMLS
• 2023-09-19 Sold (Public Records) $70,000 Public Records
• 2023-09-19 Sold (MLS) $69,527 LPRMLS
• 2023-08-21 Pending — LPRMLS
• 2023-08-18 Relisted — LPRMLS
• 2023-08-12 Delisted — LPRMLS
• 2023-07-31 Listed $69,527 LPRMLS

Property tax history

+5.4%/yr

Latest (2025): $743 · +63.4% YoY. Source: county tax records.