174 Canyon Loop Unit H243 · Norwood, NC 27306

$95,000

2 bd · 2.0 ba · 627 sqft · SingleFamily · 75 Days on market

Built 1992 Fair condition 4,356 sqft lot Est $118k · 19% under $46/mo HOA · 3% of rent ↓ 8% since listing

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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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +4.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Welcome to 174 Canyon Loop. 2 bedrooms, 2 baths with 2 extra beds for additional sleeping. This unit has turned the camper into sleeping for six. The additional has a new kitchenette and full size bathroom. Easy Breezy windows facing in a great direction to minimize the heat from the sun. Nice view out the windows and the lot backs up to some common area so no one is behind you. Lot is of the larger size at . 10 for plenty of parking. Nice building out back that can accommodate your golf cart. The camper and the addition both have mini splits for your heating and air conditioning needs, approx 3 years old. Full size refrigerator included. 40 gallon elec water heater. What is there is to rem

Key facts

• Full size bathroom
• New kitchenette
• Larger size lot

Tags

• NEW KITCHENETTE
• FULL SIZE BATHROOM
• LARGER SIZE LOT
• FULL SIZE REFRIGERATOR
• 40 GALLON ELEC WATER HEATER

Property features AI

Finance

• HOA & community: Mandatory HOA with annual dues; Annual association fee of $550; Gated community with lake access, outdoor pool, picnic area, playground, recreation area, street lights, tennis courts, and walking trails

Exterior

• Parking: Driveway
• Utilities: County water; County sewer; Electricity connected; Cable available
• Home design: Manufactured home; Single-family residence; One story; RV zoning
• Construction: Vinyl exterior; Metal roof; Pillar/post/pier foundation
• Exterior features: Sloped lot; Gravel and paved road access; Private maintained road; Beach access (public); Community boat ramp and boat slips; Lake access (Lake Tillery)

Interior

• Kitchen: Gas cooktop; Gas oven; Microwave; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Eight total rooms; Storage
• Laundry & utility: No laundry hookups (none listed)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.9% in Norwood — 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 63/100 on livability (#410 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 113 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $657 of loan paydown is wiped out by about $891 of value loss. Plan a longer hold.
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 10.62%
• Cash-on-cash: 15.44%
• DSCR: 1.69
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $117,876
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Larboard Trl	0.19mi	2/1.0	600 (-4%)	6mo	$120,000	$200	75
111 Sunshine Trl Unit A 249/250	0.39mi	2/1.0	608 (-3%)	2mo	$124,900	$205	71
113 Hideaway Trl #94	0.41mi	3/2.0 (+1)	614 (-2%)	3mo	$130,000	$212	70
105 Elm Ct	0.16mi	3/2.0 (+1)	600 (-4%)	16mo	$75,000	$125	67
104 Powder Horn Trl Unit C92	0.40mi	2/1.0	636 (+1%)	13mo	$110,000	$173	64
111 River Ridge Trl	0.41mi	2/1.0	650 (+4%)	12mo	$20,000	$31	60
167 Holly Harbor Trl Unit 169/170	0.24mi	1/1.0 (-1)	665 (+6%)	12mo	$125,000	$188	59
331 Lake Tillery Trl	0.38mi	2/1.0	696 (+11%)	3mo	$105,000	$151	58
158 Arrowood Trl Unit F27	0.27mi	1/1.0 (-1)	600 (-4%)	20mo	$130,000	$217	55
258 Lake Tillery Trl	0.45mi	3/1.0 (+1)	612 (-2%)	19mo	$90,000	$147	50
297/299 Lake Tillery Trl Unit E112/113	0.53mi	2/1.0	704 (+12%)	5mo	$168,000	$239	47
113 Deer Park Rd	0.46mi	2/1.0	700 (+12%)	16mo	$127,000	$181	42

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

Projected returns pro-forma

-0.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.56×
• Total profit: $14,957
• Equity at exit: $23,214

10-year hold

• IRR: 18.3%
• Equity multiple: 2.85×
• Total profit: $49,300
• Equity at exit: $24,618

Cash invested: $26,600 (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 27306

• Home prices YoY: -0.3%
• Active inventory: 113
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,322 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$46
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $342

Break-even live

Break-even rent $889

Max offer price $95,000

Occupancy floor 69%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $46 · $552/yr
• Likely covers: water

Listing history 18 events

1. 2026-06-18
   days on market $95,000 Active 75 DOM
2. 2026-06-17
   days on market $95,000 Active 74 DOM
3. 2026-06-16
   days on market $95,000 Active 73 DOM
4. 2026-06-15
   days on market $95,000 Active 72 DOM
5. 2026-06-14
   days on market $95,000 Active 70 DOM
6. 2026-06-13
   days on market $95,000 Active 69 DOM
7. 2026-06-10
   days on market $95,000 Active 67 DOM
8. 2026-06-09
   days on market $95,000 Active 66 DOM
9. 2026-06-08
   days on market $95,000 Active 65 DOM
10. 2026-06-07
    days on market $95,000 Active 64 DOM
11. 2026-06-05
    days on market $95,000 Active 61 DOM
12. 2026-06-03
    days on market $95,000 Active 60 DOM
13. 2026-06-02
    days on market $95,000 Active 59 DOM
14. 2026-06-01
    days on market $95,000 Active 58 DOM
15. 2026-05-31
    days on market $95,000 Active 57 DOM
16. 2026-05-31
    days on market $95,000 Active 56 DOM
17. 2026-05-11
    price $95,000
18. 2026-04-04
    listed $103,000 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,870
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − HOA: −$552
• − Depreciation: −$2,764
• Taxable income: $2,793
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $3,436/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

Fair 45/100 Cosmetic rehab

The home is in fair condition with cosmetic updates needed, particularly in the interior and landscaping. Simple improvements can significantly enhance its resale and rental value.

Repairs flagged

• Minor Landscaping — Minimal landscaping and gravel driveway need some attention.
• Minor Interior paint — Interior walls appear clean but could benefit from a fresh coat of paint.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and value.
• Both Landscaping — Aesthetic improvements can enhance curb appeal and property value.
• Rental HVAC filters — Regular maintenance ensures the HVAC system runs efficiently and reduces utility costs.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Minimal landscaping and gravel driveway need some attention.	Minor	$500–3,000
Interior paint · Interior walls appear clean but could benefit from a fresh coat of paint.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and value. ↑
• Both Landscaping — Aesthetic improvements can enhance curb appeal and property value. ↑
• Rental HVAC filters — Regular maintenance ensures the HVAC system runs efficiently and reduces utility costs. ↑

ⓘ 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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Norwood

• Score: 63/100
• State rank: #410
• US rank: #15485

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,457

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 26,533 people
• By 2030: 25,724 · -3.0%
• By 2040: 23,842 · -10.1%
• By 2050: 22,077 · -16.8%
• By 2075: 18,754 · -29.3%
• By 2100: 15,537 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Asian 6% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 6% · China, Canada, Philippines
• Languages at home: 92% English-only · Other Asian/Pacific 5% Spanish 2% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+37.8) · D 30.8% · R 68.6%
• 2008→2024 swing: -26.9pp toward R · 2008: -11.0pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+31.8 2016: R+25.9 2012: R+15.2 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.94%
• Current HPI: 334.2599
• 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

-7.8% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $95,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-04 Listed $103,000 CANOPYMLS as Distributed by MLS Grid