7234 Racine Rd · Pleasant Garden, NC 27313

$245,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 24 Days on market

Built 1984 4.81 ac lot Est $278k · 12% under

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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 +13.9/30.0
• ARV discount +12.8/15.0
• DSCR +4.2/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful opportunity on 4.81± acres offering space, privacy, and versatility! This well-maintained property features 3 bedrooms and 2 bathrooms with a comfortable layout, along with a 2-car garage and additional detached carport for extra parking or equipment storage. Enjoy outdoor living year-round in the covered sitting area that can be enclosed with screens or glass overlooking the backyard, complete with an in-ground ionizer pool—perfect for relaxing or entertaining. The property also includes two storage buildings, providing ample space for tools, hobbies, or workshop needs. A rare combination of acreage and amenities—don’t miss your chance to make it yours!

Key facts

• Covered sitting area
• 4.81 acres
• 4.81 acre lot

Tags

• 4.81 ACRES
• COVERED SITTING AREA
• IN-GROUND IONIZER POOL
• TWO STORAGE BUILDINGS

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Manufactured home; Structure type: Manufactured house; Body type: Double wide; Lot approximately 4.81 acres
• HOA & community: Association: High Point (no active association required)

Exterior

• Parking: Attached garage; Detached carport; 2 garage spaces
• Utilities: Well water; Septic tank; Electric water heater
• Home design: Manufactured home (double wide); One-level (single story); Built in 1984; Existing structure
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Fenced lot; In-ground pool; Storage structure on property; Public maintained road

Interior

• Kitchen: Microwave; Dishwasher; Free-standing range
• Bedrooms: Bedrooms on main level
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump (cooling and heating); Electric heating; Propane gas heating; Fireplace with gas log in living room
• Interior features: Primary bedroom located on the main level; Ceiling fan(s); Pantry
• Laundry & utility: Washer hookup; Dryer connection on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $245k.

Deal economics

• At list price, monthly cash flow is $25 ($302/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 $192k (21.5% below list).
• Recommended offer: $192k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Pleasant Garden — 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 71/100 on livability (#117 in NC) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Guilford County Schools (urban): math 39% / reading 45% proficiency, ranked #99 of 178 in NC (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 3,843 units permitted in Guilford County in 2024 (2,397 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.
• Guilford County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $245k implies a 1385% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $192,374 (21.5% below list)

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. 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?
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: 0.79% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $277,536
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914-A Nc Highway 62 E	0.53mi	3/2.0	1,386 (-12%)	3mo	$245,000	$177	54

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-38,192
• Equity at exit: $36,530

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-31,571
• Equity at exit: $21,183

Cash invested: $68,600 (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 27313

• Home prices YoY: -10.8%
• Active inventory: 27
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,924 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $25

Break-even live

Break-even rent $1,892

Max offer price $245,000

Occupancy floor 94%

Sensitivity live

Price	-10% $164	-5% $94	+0% $25	+5% $-44	+10% $-114
Rent	-10% $-127	-5% $-51	+0% $25	+5% $101	+10% $177
Rate	-1.0pp $149	-0.5pp $87	base $25	+0.5pp $-38	+1.0pp $-103

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-13
   status Pending
2. 2026-04-21
   historical Due Diligence Period
3. 2026-04-18
   listed $245,000 Active
4. 1984-03-01
   soldstatus $16,500
5. 1977-09-01
   soldstatus $15,000

ⓘ 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: $1,293 · $108/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$716/yr (+$60/mo · 55.4%)

ⓘ 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 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $23,085
• − Mortgage interest: −$13,724
• − Property taxes: −$1,293
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$7,127
• Taxable loss: −$3,977
• Est. tax savings @ 24.0%: +$955
• After-tax cash flow: $1,256/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: Guilford County Schools
• NCES district ID: 3701920
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $46,315
• Composite: 35.78/100
• National rank: #4842
• State rank: #99 of 178 in NC

Livability — Pleasant Garden

• Score: 71/100
• State rank: #117
• US rank: #7296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 8,009
• Population (ZIP): 8,009

Population outlook (Guilford County) Hauer SSP2

• Today (2025): 584,596 people
• By 2030: 616,851 · +5.5%
• By 2040: 678,451 · +16.1%
• By 2050: 734,788 · +25.7%
• By 2075: 862,985 · +47.6%
• By 2100: 948,704 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Italian 6% Serbian 3% Slovak 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Guilford

• 2024 margin: Strong D (+21.8) · D 60.2% · R 38.4% · Other 1.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 18.4pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+23.1 2016: D+20.0 2012: D+16.5 2008: D+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.90%
• Current HPI: 246.8126
• 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

+1533.3% since first listed

5 events — show timeline

• 2026-05-13 Pending — Triad MLS
• 2026-04-21 Contingent — Triad MLS
• 2026-04-18 Listed $245,000 Triad MLS
• 1984-03-01 Sold (Public Records) $16,500 Public Records
• 1977-09-01 Sold (Public Records) $15,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,293 · +3.2% YoY. Source: county tax records.