5797 Sheets Gap Rd · Jefferson, NC 28651

$35,000

3 bd · 1.0 ba · 1,350 sqft · SingleFamily · 2 Days on market

Built 2000 Poor condition 1.68 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
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

4 wheel drive vehicle need. No permits were performed and property is as is. No septic was approved. Buyers broker should verify concerns.

Key facts

• 1.68 acre lot
• Built 2000
• Listed 2 days

Property features AI

Finance

• Other: Building area approximately 1,350 total square feet; One fireplace (located in great room); Directions available for property location
• HOA & community: No association; Located in Winston-Salem association area (association not active)

Exterior

• Parking: Driveway (no garage)
• Utilities: Sewer: remarks (details not provided); No water heater listed
• Home design: Residential stick/site-built house; One story; Built in 2000; Existing structure; Great room with fireplace
• Construction: Wood siding; Crawl space foundation; Shingle roof not specified (construction materials: wood siding)
• Exterior features: 1.68-acre lot; No fencing; Private maintained road; No pool; No water source listed; Two or more access exits

Interior

• Bedrooms: One main-level bedroom (12' x 12')
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating (no fuel); No cooling
• Interior features: Great room; Primary bedroom on main level; Attic with no access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 29.3% vs local median 1.2% in Jefferson — 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 68/100 on livability (#200 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: housing D, amenities F, commute F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Millers Creek Elementary School (math 58% / reading 50%, grade C, #328 of 1,410 statewide, top 24%, 734 students, 100% FRL); West Wilkes High School (math 57% / reading 62%, grade C+, #216 of 535 statewide, top 43%, 628 students, 47% FRL) — zoned schools average 73% FRL vs 56% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 44 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($242 loan paydown + $4k appreciation (10.0% local appreciation)).
• Wilkes County population projected at -18% 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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: 3.30% ✓
• Cap rate: 29.33%
• Cash-on-cash: 82.28%
• DSCR: 4.66
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $376,650
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5797 Sheets Gap Rd	0.00mi	3/1.0	1,350 (0%)	1mo	$30,000	$22	100
825 Spring House Rd	0.33mi	3/2.5	1,539 (+14%)	16mo	$430,000	$279	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 92.0%
• Equity multiple: 7.31×
• Total profit: $61,876
• Equity at exit: $31,531

10-year hold

• IRR: 86.9%
• Equity multiple: 16.16×
• Total profit: $148,593
• Equity at exit: $67,997

Cash invested: $9,800 (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 28651

• Home prices YoY: 16.8%
• Active inventory: 44
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $672

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 37%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-09
   status Pending
2. 2026-05-07
   listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,881
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$1,018
• Taxable income: $7,981
• Est. tax owed @ 24.0%: −$1,915
• After-tax cash flow: $6,148/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 · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to improve its condition and value. The roof, windows, siding, flooring, paint, and HVAC system are all in poor condition and need immediate attention.

Repairs flagged

• Major Roof — Exposed beams and potential structural issues
• Major Windows — Missing windows
• Major Siding — Weathered and peeling
• Major Flooring — Worn-out and uneven
• Major Paint — Peeling and exposed wood
• Major HVAC — Old and outdated system

Value-add opportunities

• Resale New roof — Improves safety and appearance
• Resale New windows — Enhances natural light and view
• Resale New siding — Improves curb appeal and durability
• Resale New flooring — Enhances comfort and appearance
• Resale Paint job — Updates the interior and exterior
• Resale New HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · Exposed beams and potential structural issues	Major	$15,000–50,000
Windows · Missing windows	Major	$15,000–50,000
Siding · Weathered and peeling	Major	$15,000–50,000
Flooring · Worn-out and uneven	Major	$15,000–50,000
Paint · Peeling and exposed wood	Major	$15,000–50,000
HVAC · Old and outdated system	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale New roof — Improves safety and appearance ↑
• Resale New windows — Enhances natural light and view ↑
• Resale New siding — Improves curb appeal and durability ↑
• Resale New flooring — Enhances comfort and appearance ↑
• Resale Paint job — Updates the interior and exterior ↑
• Resale New HVAC system — Improves comfort and energy efficiency ↑

ⓘ 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: Wilkes County Schools
• NCES district ID: 3704950
• Math proficiency: 55% ▲ 13.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $34,538
• Composite: 43.41/100
• National rank: #3017
• State rank: #59 of 178 in NC

Livability — Jefferson

• Score: 68/100
• State rank: #200
• US rank: #9801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,629

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 66,349 people
• By 2030: 64,411 · -2.9%
• By 2040: 59,800 · -9.9%
• By 2050: 54,770 · -17.5%
• By 2075: 45,211 · -31.9%
• By 2100: 36,956 · -44.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Vietnam, Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3% Vietnamese 2%

Political lean MEDSL · Wilkes

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.2pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+56.6 2016: R+55.2 2012: R+42.7 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.38%
• Current HPI: 294.3413
• 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

2 events — show timeline

• 2026-05-09 Pending — Triad MLS
• 2026-05-07 Listed $35,000 Triad MLS