104 Buck Haven Ct · Fallston, NC 28090

$169,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 450 Days on market

Built 2001 0.50 ac lot ↓ 3% since listing

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 2-bath home on a 1/2-acre lot in the Fallston area features a freshly painted interior with decorator colors. It has new flooring, a renovated kitchen and bathrooms. The open floor plan includes a separate laundry room and new light fixtures throughout. This is a must see! Schedule your showing today. Buyers agents welcome!

Key facts

• Open floor plan
• Renovated bathrooms
• Renovated kitchen

Tags

• FRESHLY PAINTED INTERIOR
• RENOVATED KITCHEN
• RENOVATED BATHROOMS
• OPEN FLOOR PLAN
• SEPARATE LAUNDRY ROOM
• NEW LIGHT FIXTURES

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: County water; Septic system installed
• Home design: Manufactured doublewide single-family residence; One story; Crawl space foundation
• Construction: Vinyl exterior; Manufactured construction
• Exterior features: Half-acre lot; Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 9 total rooms
• Laundry & utility: Dedicated laundry room on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#532 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A; Watch: housing D+, crime F, amenities F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burns High (math 42% / reading 59%, grade D+, #306 of 535 statewide, top 57%, 934 students, 60% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 39 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cleveland County population projected at -15% 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 $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 450 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 450 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.7

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $910
• Equity at exit: $25,198

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $37,021
• Equity at exit: $14,612

Cash invested: $47,320 (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 28090

• Home prices YoY: -3.4%
• Active inventory: 39
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,833 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $445

Break-even live

Break-even rent $1,269

Max offer price $169,000

Occupancy floor 71%

Sensitivity live

Price	-10% $541	-5% $493	+0% $445	+5% $398	+10% $350
Rent	-10% $301	-5% $373	+0% $445	+5% $518	+10% $590
Rate	-1.0pp $531	-0.5pp $488	base $445	+0.5pp $402	+1.0pp $357

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $169,000 Active 450 DOM
2. 2026-06-18
   days on market $169,000 Active 449 DOM
3. 2026-06-17
   days on market $169,000 Active 448 DOM
4. 2026-06-16
   days on market $169,000 Active 447 DOM
5. 2026-06-15
   days on market $169,000 Active 446 DOM
6. 2026-06-14
   days on market $169,000 Active 444 DOM
7. 2026-06-13
   days on market $169,000 Active 443 DOM
8. 2026-06-10
   days on market $169,000 Active 441 DOM
9. 2026-06-09
   days on market $169,000 Active 440 DOM
10. 2026-06-08
    days on market $169,000 Active 439 DOM
11. 2026-06-07
    days on market $169,000 Active 438 DOM
12. 2026-06-05
    days on market $169,000 Active 435 DOM
13. 2026-06-03
    days on market $169,000 Active 434 DOM
14. 2026-06-02
    days on market $169,000 Active 433 DOM
15. 2026-06-01
    days on market $169,000 Active 432 DOM
16. 2026-05-31
    days on market $169,000 Active 431 DOM
17. 2026-05-30
    days on market $169,000 Active 430 DOM
18. 2026-03-17
    price $169,000
19. 2025-03-26
    listed $175,000 Active

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$838/yr (+$70/mo · 152.9%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,991
• − Mortgage interest: −$9,467
• − Property taxes: −$548
• − Insurance: −$845
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$4,916
• Taxable income: $2,697
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $4,698/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Fallston

• Score: 59/100
• State rank: #532
• US rank: #19660

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 306
• Population (ZIP): 7,422

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 12% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.65%
• Current HPI: 335.97
• 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

-3.4% since first listed

2 events — show timeline

• 2026-03-17 Price Changed $169,000 CANOPYMLS as Distributed by MLS Grid
• 2025-03-26 Listed $175,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $548 · +24.3% YoY. Source: county tax records.