401 Orchard St · Wadesboro, NC 28170

$980,000

39 bd · 28.6 ba · 7,902 sqft · MultiFamily · 252 Days on market

Built 1988 2.00 ac lot

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 13 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

Key facts

• Apartment complex
• 12 units updated
• 2 acre lot

Tags

• APPROXIMATELY 2 ACRES
• APARTMENT COMPLEX
• 12 UNITS UPDATED

Property features AI

Finance

• Financial info: 28 total rental units; Owner pays water and trash collection; Tenants pay electricity and gas
• HOA & community: No HOA; Pets allowed

Exterior

• Parking: Parking lot with individual parking spaces
• Utilities: City water; Public sewer
• Home design: Residential income property (apartment); Zoned R-6; Site-built construction
• Construction: Hardboard siding; Built on slab foundation; Site-built construction
• Exterior features: Paved public road access; 2-acre lot

Interior

• Kitchen: Refrigerator included
• Bedrooms: 40 bedrooms total; Units include 16 one-bedroom units and 12 two-bedroom units
• Bathrooms: 28 full bathrooms
• Heating & cooling: Forced air (natural gas); Central air
• Interior features: Refrigerator; Forced air heating with natural gas; Central air conditioning
• Laundry & utility: No on-site laundry features listed

What this means for you Summary

Snapshot

• This is a 13 × 3-bed/2.2-bath units multifamily listed at $980k.

Deal economics

• At list price, monthly cash flow is $9k ($108k/yr) — positive. Per door: $695/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $980k).
• Recommended offer: $862k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 6.3% in Wadesboro — 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 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $105k of equity ($7k loan paydown + $98k appreciation (10.0% local appreciation)).
• Anson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $274k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$168k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($862k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y ago; this cycle's ask has dropped $319k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; list at $980k implies a 336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% 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 $862,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.96% ✓
• Cap rate: 17.36%
• Cash-on-cash: 39.51%
• DSCR: 2.76
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.8%
• Equity multiple: 5.04×
• Total profit: $1,109,057
• Equity at exit: $882,862

10-year hold

• IRR: 48.3%
• Equity multiple: 11.25×
• Total profit: $2,813,226
• Equity at exit: $1,903,924

Cash invested: $274,400 (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 28170

• Home prices YoY: 5.8%
• Active inventory: 85
• Price-to-rent: 55.4×

Monthly cashflow live

• Estimated rent: $19,166 medium
• Mortgage (P&I): −$5,139
• Tax from tax record: −$559 /mo · $6,703/yr
• Insurance: −$408
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,025
• Net cashflow: $9,035

Break-even live

Break-even rent $7,729

Max offer price $980,000

Occupancy floor 48%

13-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	3	2.2	$19,162
Total (13 units)			$19,166

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: $245,000
• Closing costs: $29,400
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-08
   days on market $980,000 Active 252 DOM
2. 2026-06-07
   days on market $980,000 Active 251 DOM
3. 2026-06-07
   days on market $980,000 Active 250 DOM
4. 2026-06-04
   days on market $980,000 Active 247 DOM
5. 2026-06-02
   days on market $980,000 Active 246 DOM
6. 2026-06-01
   days on market $980,000 Active 245 DOM
7. 2026-05-31
   days on market $980,000 Active 244 DOM
8. 2026-01-04
   status Active
9. 2025-12-11
   status Pending
10. 2025-12-02
    price $980,000
11. 2025-09-05
    listed $1,299,000 Active
12. 2015-08-28
    soldstatus $225,000 Closed 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

13. 2015-08-25
    soldstatus $225,000
14. 2015-07-22
    historical Under Contract - No Show 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

15. 2015-03-13
    status Active 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

16. 2015-02-08
    historical 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

17. 2014-10-31
    status Active 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

18. 2014-08-08
    historical 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

19. 2014-02-27
    status Active 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

20. 2014-02-08
    historical 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

21. 2013-10-14
    price $250,000 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

22. 2013-10-14
    price $175,000 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

23. 2013-09-03
    listed $190,000 Active 341-char remark

    Show marketing remark (341 chars)

    Investment opportunity, 4 buildings, 22 units total, seller in process of updating building #1. Repairs should be complete by 12-1-14. After it's completed seller will move on to building 2,3,4 but price will increase to reflect repairs. Only 2 apartments rented at this time but seller will begin to rent new ones as they are completed.

ⓘ 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: $6,703 · $559/mo
• Projected year-2 tax: $8,036 · $670/mo
• Expected delta: +$1,333/yr (+$111/mo · 19.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $229,992
• − Mortgage interest: −$54,895
• − Property taxes: −$6,703
• − Insurance: −$4,900
• − Repairs & maintenance: −$18,399
• − Management: −$18,399
• − Depreciation: −$28,509
• Taxable income: $98,186
• Est. tax owed @ 24.0%: −$23,565
• After-tax cash flow: $84,855/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: Anson County Schools
• NCES district ID: 3700180
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,961
• Composite: 21.41/100
• National rank: #8348
• State rank: #159 of 178 in NC

Livability — Wadesboro

• Score: 41/100
• State rank: #728
• US rank: #27112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadesboro, NC
• Population (ZIP): 9,595

Population outlook (Anson County) Hauer SSP2

• Today (2025): 23,572 people
• By 2030: 22,384 · -5.0%
• By 2040: 19,976 · -15.3%
• By 2050: 17,803 · -24.5%
• By 2075: 13,839 · -41.3%
• By 2100: 10,890 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 38% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Russian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Anson

• 2024 margin: Toss-up / Even · D 48.4% · R 50.9%
• 2008→2024 swing: -23.5pp toward R · 2008: 20.9pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+4.2 2016: D+12.6 2012: D+25.0 2008: D+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.62%
• Current HPI: 228.7798
• 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

+415.8% since first listed

16 events — show timeline

• 2026-01-04 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-12-11 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-12-02 Price Changed $980,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-05 Listed $1,299,000 CANOPYMLS as Distributed by MLS Grid
• 2015-08-28 Sold (MLS) $225,000 CANOPYMLS as Distributed by MLS Grid
• 2015-08-25 Sold (Public Records) $225,000 Public Records
• 2015-07-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-03-13 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2015-02-08 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2014-10-31 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2014-08-08 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2014-02-27 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2014-02-08 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2013-10-14 Price Changed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2013-10-14 Price Changed $175,000 CANOPYMLS as Distributed by MLS Grid
• 2013-09-03 Listed $190,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+12.6%/yr

Latest (2025): $6,703 · +4.5% YoY. Source: county tax records.