278 Bob Hardin Rd · Rutherfordton, NC 28139

$129,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 9 Days on market

Built 2015 Good condition 0.50 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on market 5/29 - Buyer couldn’t secure financing. Affordable 3BR/2BA SWMH on half acre lot in convenient Rutherfordton location. Hard to find home that is in move in condition at this price point! Home is a 2015 Clayton that was moved to this site and set on permanent foundation. Larger than normal SWMH with 1,216 square feet. Upgraded model with lots of great features. Newer LVP flooring throughout. Bathroom in Primary Bedroom has a walk-in shower, double sinks, built-ins, and walk-in closet. Since the home was moved to this site most lenders will not do the loan, please check with your lender. Call for more details.

Key facts

• Double sinks
• Permanent foundation
• Newer lvp flooring

Tags

• HALF ACRE LOT
• MOVE IN CONDITION
• PERMANENT FOUNDATION
• NEWER LVP FLOORING
• WALK IN SHOWER
• DOUBLE SINKS

Property features AI

Finance

• Other: Deed restrictions
• HOA & community: No HOA

Exterior

• Parking: Driveway; Shared driveway
• Utilities: Public water; Septic system installed
• Home design: Manufactured singlewide home; Single-family residence; One level; Entry level: Main
• Construction: Manufactured construction; Vinyl exterior; Crawl space / permanent foundation; Builder: Clayton
• Exterior features: Sloped lot; Publicly maintained road access; Gravel and paved road surface

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms, all on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Open floorplan; Built-in features; Walk-in closet(s); Insulated windows
• Laundry & utility: Laundry room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $129k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 11.1% vs local median 3.0% in Rutherfordton — 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 73/100 on livability (#67 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Rutherford County Schools (rural): math 43% / reading 44% proficiency, ranked #98 of 178 in NC (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rutherfordton Elementary School (math 37% / reading 47%, grade F, #633 of 1,410 statewide, top 48%, 390 students, 99% FRL); R-S Central High School (math 62% / reading 42%, grade D+, #292 of 535 statewide, top 56%, 758 students, 100% FRL) — zoned schools average 99% FRL vs 60% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 312 active listings in the ZIP; 193 units permitted in Rutherford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rutherford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D 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?
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: 1.39% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.28%
• DSCR: 1.77
• GRM: 6.0

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: 8.6%
• Equity multiple: 1.34×
• Total profit: $12,242
• Equity at exit: $19,234

10-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $53,416
• Equity at exit: $11,154

Cash invested: $36,120 (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 28139

• Home prices YoY: -21.6%
• Active inventory: 312
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,787 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $520

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 66%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   days on market $129,000 Active 9 DOM
2. 2026-06-01
   days on market $129,000 Active 8 DOM
3. 2026-05-31
   days on market $129,000 Active 7 DOM
4. 2026-05-30
   remarks 630-char remark
5. 2026-05-30
   statusdays on market $129,000 Active 6 DOM
6. 2026-05-20
   listed $129,000 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,440
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$3,753
• Taxable income: $4,451
• Est. tax owed @ 24.0%: −$1,068
• After-tax cash flow: $5,172/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

Good 80/100 Cosmetic rehab

This home is in excellent condition with upgrades throughout, including a well-maintained exterior and interior. It is move-in ready and would benefit from some landscaping and curb appeal improvements to maximize its value.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental.
• Both Painting exterior — Fresh paint can improve the home's appearance and value.
• Both Landscaping and curb appeal — Well-maintained landscaping and curb appeal can attract more buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior — Fresh paint can improve the home's appearance and value. ↑
• Both Landscaping and curb appeal — Well-maintained landscaping and curb appeal can attract more buyers and renters. ↑

ⓘ 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: Rutherford County Schools
• NCES district ID: 3704080
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,490
• Composite: 36.11/100
• National rank: #4753
• State rank: #98 of 178 in NC

Livability — Rutherfordton

• Score: 73/100
• State rank: #67
• US rank: #5114

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,887

Population outlook (Rutherford County) Hauer SSP2

• Today (2025): 63,695 people
• By 2030: 61,670 · -3.2%
• By 2040: 57,212 · -10.2%
• By 2050: 52,763 · -17.2%
• By 2075: 44,493 · -30.1%
• By 2100: 38,127 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Rutherford

• 2024 margin: Solid R (+47.8) · D 25.8% · R 73.6%
• 2008→2024 swing: -16.0pp toward R · 2008: -31.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.8 2016: R+47.9 2012: R+33.5 2008: R+31.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.65%
• Current HPI: 249.7007
• 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

1 event — show timeline

• 2026-05-20 Listed $129,000 CANOPYMLS as Distributed by MLS Grid