1032 Elizabeth Dr · Laurinburg, NC 28352

$119,000

2 bd · 1.0 ba · 925 sqft · SingleFamily public records · 70 Days on market

Built 1965

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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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +3.9/10.0
• 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

Listing remarks

Welcome to this updated 3-bedroom, 1-bath home in Laurinburg! With a long list of recent upgrades, this property offers a fresh, modern feel with the big-ticket items already taken care of. Improvements include: new siding, roof, flooring, paint throughout, cabinets, bath/shower combo, doors, HVAC, electrical panels, water heater, carpet, and more! The property also features stainless steel appliances, a large screened-in porch, spacious backyard, front porch, and a storage shed, providing both functionality and flexibility. Connected to city water and sewer, this home is a great option for investors looking to expand their portfolio or first-time buyers seeking a home with major update

Key facts

• New siding
• New flooring
• New paint

Tags

• NEW SIDING
• NEW ROOF
• NEW FLOORING
• NEW PAINT
• NEW CABINETS
• NEW BATH SHOWER COMBO

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-level home (1 story); Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot listed (no detailed lot size provided)

Interior

• Kitchen: Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Refrigerator included; Hardwood and tile flooring; No fireplace; Crawl space basement
• Laundry & utility: Crawl space (utility access)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $106k (10.8% below list).
• Recommended offer: $106k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.1% 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: 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: 158 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 $823 of loan paydown is wiped out by about $4k 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 70 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $119k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $106,110 (10.8% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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 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: 0.89% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $78,625
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 Wilson St	0.27mi	2/1.0	926 (+0%)	4mo	$65,000	$70	84
1115 S Pine St	0.11mi	2/1.0	945 (+2%)	12mo	$100,000	$106	81
1111 Hammond Dr	0.04mi	3/1.0 (+1)	960 (+4%)	13mo	$68,000	$71	76
423 Midland Way	0.38mi	2/1.0	1,005 (+9%)	4mo	$76,500	$76	65
720 Spruce St	0.34mi	2/1.0	862 (-7%)	10mo	$37,000	$43	65
714 S Pine St	0.35mi	3/1.5 (+1)	986 (+7%)	2mo	$138,000	$140	64
907 Biggs St	0.19mi	2/1.0	823 (-11%)	16mo	$53,000	$64	60
519 Atkinson St	0.57mi	2/1.0	850 (-8%)	4mo	$97,000	$114	57
718 Anson Ave	0.56mi	2/1.0	839 (-9%)	7mo	$105,000	$125	53
728 Anson Ave	0.52mi	2/1.0	824 (-11%)	11mo	$100,000	$121	49
514 E Covington St	0.67mi	2/1.0	822 (-11%)	7mo	$70,000	$85	44
522 S Caledonia Rd	0.59mi	3/1.0 (+1)	816 (-12%)	6mo	$56,500	$69	42

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: -9.0%
• Equity multiple: 0.67×
• Total profit: $-11,048
• Equity at exit: $17,743

10-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $832
• Equity at exit: $10,289

Cash invested: $33,320 (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: 158
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$35 /mo · $414/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $130

Break-even live

Break-even rent $896

Max offer price $119,000

Occupancy floor 83%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $119,000 Active 70 DOM
2. 2026-06-17
   days on market $119,000 Active 69 DOM
3. 2026-06-16
   days on market $119,000 Active 68 DOM
4. 2026-06-15
   pricedays on market $119,000 Active 67 DOM
5. 2026-06-14
   days on market $124,000 Active 65 DOM
6. 2026-06-13
   days on market $124,000 Active 64 DOM
7. 2026-06-10
   days on market $124,000 Active 62 DOM
8. 2026-06-09
   days on market $124,000 Active 61 DOM
9. 2026-06-08
   days on market $124,000 Active 60 DOM
10. 2026-06-07
    days on market $124,000 Active 59 DOM
11. 2026-06-05
    days on market $124,000 Active 56 DOM
12. 2026-06-03
    days on market $124,000 Active 55 DOM
13. 2026-06-02
    days on market $124,000 Active 54 DOM
14. 2026-06-01
    days on market $124,000 Active 53 DOM
15. 2026-05-31
    days on market $124,000 Active 52 DOM
16. 2026-05-30
    pricedays on market $124,000 Active 51 DOM
17. 2026-05-19
    price $129,000
18. 2026-05-01
    price $134,000
19. 2026-04-09
    listed $139,000 Active
20. 2025-10-15
    soldstatus $45,000
21. 2005-06-01
    soldstatus $57,500

ⓘ 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: $414 · $35/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: +$562/yr (+$47/mo · 135.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $12,733
• − Mortgage interest: −$6,666
• − Property taxes: −$414
• − Insurance: −$595
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$3,462
• Taxable loss: −$441
• Est. tax savings @ 24.0%: +$106
• After-tax cash flow: $1,667/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

+124.3% since first listed

5 events — show timeline

• 2026-05-19 Price Changed $129,000 LPRMLS
• 2026-05-01 Price Changed $134,000 LPRMLS
• 2026-04-09 Listed $139,000 LPRMLS
• 2025-10-15 Sold (Public Records) $45,000 Public Records
• 2005-06-01 Sold (Public Records) $57,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $414 · +0.0% YoY. Source: county tax records.