4931 Gladys Owens St · La Grange, NC 28551

$235,000

3 bd · 2.0 ba · 1,782 sqft · Other public records · 22 Days on market

Built 2022 0.36 ac lot

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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 +11.7/30.0
• ARV discount +7.5/15.0
• DSCR +3.4/10.0
• Livability +3.3/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this spacious 5 bedrooms, 3 full bath home situated on its own . 36-acre lot LAND INCLUDED!! built in 2022, this home offers the perfect blend go modern comfort and peaceful country living with NO HOA. Step inside to the huge living room that flows into a great size kitchen and large dining, creating the ideal space for gathering, entertainment, and everyday living. this split bedroom layout provides room for everyone, while the flat yard offers endless possibilities for outdoor enjoyment, gardening, or play. nestled in a quiet neighborhood, with a serene county setting. You will enjoy the tranquility of rural living, privacy and land ownership all in one package!

Key facts

• 0.36 acre lot
• Built 2022
• Listed 21 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Sewer connected; Water connected
• Home design: Manufactured home (residential); One level / single-story; Entry level: 1
• Construction: Vinyl siding; Block foundation; Shingle roof; Built on a lot of approximately 0.36 acres with dimensions 115 x 140 x 115 x 140
• Exterior features: Front porch; Rear porch; Has a view; Paved road access

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Walk-in closet(s); Kitchen island; Total rooms: 7; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $235k.

Deal economics

• At list price, monthly cash flow is $-68 ($-814/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (20.7% below list).
• Recommended offer: $186k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.3% in La Grange — 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 66/100 on livability (#278 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: La Grange Elementary (math 32% / reading 32%, grade F, #908 of 1,410 statewide, top 67%, 498 students, 99% FRL); E B Frink Middle (math 35% / reading 35%, grade F, #286 of 475 statewide, top 61%, 540 students, 99% FRL); North Lenoir High (math 52% / reading 36%, grade F, #367 of 535 statewide, top 69%, 975 students, 100% FRL) — zoned schools average 100% FRL vs 65% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $235k implies a 1780% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,399 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 10.5

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: -18.4%
• Equity multiple: 0.36×
• Total profit: $-42,426
• Equity at exit: $35,039

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-42,603
• Equity at exit: $20,319

Cash invested: $65,800 (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 28551

• Home prices YoY: -16.2%
• Active inventory: 86
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,864 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$210 /mo · $2,522/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $-68

Break-even live

Break-even rent $1,950

Max offer price $223,012

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-1	+0% $-68	+5% $-134	+10% $-201
Rent	-10% $-215	-5% $-141	+0% $-68	+5% $6	+10% $79
Rate	-1.0pp $50	-0.5pp $-8	base $-68	+0.5pp $-129	+1.0pp $-191

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $235,000 Active 22 DOM
2. 2026-06-18
   days on market $235,000 Active 21 DOM
3. 2026-06-17
   days on market $235,000 Active 20 DOM
4. 2026-06-16
   days on market $235,000 Active 19 DOM
5. 2026-06-15
   days on market $235,000 Active 18 DOM
6. 2026-06-14
   days on market $235,000 Active 16 DOM
7. 2026-06-13
   price $235,000 Active 15 DOM
8. 2026-06-12
   days on market $245,000 Active 15 DOM
9. 2026-06-09
   days on market $245,000 Active 12 DOM
10. 2026-06-08
    days on market $245,000 Active 11 DOM
11. 2026-06-07
    days on market $245,000 Active 10 DOM
12. 2026-06-07
    remarks 683-char remark
13. 2026-06-07
    pricedays on market $245,000 Active 9 DOM
14. 2026-06-04
    days on market $250,000 Active 6 DOM
15. 2026-06-02
    days on market $250,000 Active 5 DOM
16. 2026-06-01
    days on market $250,000 Active 4 DOM
17. 2026-05-31
    days on market $250,000 Active 3 DOM
18. 2026-05-31
    days on market $250,000 Active 2 DOM
19. 2026-05-22
    listed $250,000 Active
20. 2022-06-17
    soldstatus $12,500
21. 2020-07-16
    soldstatus $30,000

ⓘ 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: $2,522 · $210/mo
• Projected year-2 tax: $2,522 · $210/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,368
• − Mortgage interest: −$13,164
• − Property taxes: −$2,522
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,789
• − Management: −$1,789
• − Depreciation: −$6,836
• Taxable loss: −$4,908
• Est. tax savings @ 24.0%: +$1,178
• After-tax cash flow: $363/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — La Grange

• Score: 66/100
• State rank: #278
• US rank: #12047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grange, NC
• Population (ZIP): 13,264

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Black 21% Hispanic / Latino 16% Two or more races 8%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 1% Portuguese 1% Slovene 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.90%
• Current HPI: 216.483
• 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

+733.3% since first listed

3 events — show timeline

• 2026-05-22 Listed $250,000 Hive MLS
• 2022-06-17 Sold (Public Records) $12,500 Public Records
• 2020-07-16 Sold (Public Records) $30,000 Public Records

Property tax history

+27.2%/yr

Latest (2025): $2,522 · +224.6% YoY. Source: county tax records.