115 Hollywood Trl Unit A79 · Norwood, NC 27306

$122,000

2 bd · 2.5 ba · 432 sqft · SingleFamily · 288 Days on market

Built 1987 2,178 sqft lot Est $115k · 6% over $43/mo HOA · 3% of rent ↓ 2% since listing

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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 +18.4/30.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• ARV discount +4.7/15.0
• Appreciation +4.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this unique unit here in the park. This a 2 bedroom, 2 1/2 baths unit with a fabulous outdoor kitchen setup and a second sleeping/bathroom space. Included in the outdoor kitchen - Blackstone Gas Griddle, Blackstone Prep Area, covered with elec and fan. Move over to the covered bar side and you have 4 stools, a beverage refrigerator, Microwave, Ninja Foodie Grill, Panini Maker, Oster French Door Oven. Power and a TV are already there. There is a covered swing, fenced yard for the pets and a pet washing station. Inside is a great living room freshly painted with new flooring. Most furnishing to remain. U shaped couch makes a comfortable queen bed. The kitchen has an ice maker, gre

Key facts

• Fenced yard
• Covered bar side
• Dog washing station

Tags

• OUTDOOR KITCHEN SETUP
• BLACKSTONE GAS GRIDDLE
• COVERED BAR SIDE
• BEVERAGE REFRIGERATOR
• DOG WASHING STATION
• FENCED YARD

Property features AI

Finance

• Other: Lake access includes public beach, community boat ramp and community boat slips; Located on a privately maintained gravel/paved road; Zoned RV
• HOA & community: Mandatory HOA with annual fee of $520; Community amenities: lake access, outdoor pool, picnic area, playground, recreation area, street lights, walking trails

Exterior

• Parking: Driveway parking
• Security: Gated community
• Utilities: County water; County sewer
• Home design: Manufactured home; Single-family residence; One level; Entry facing the community (unit in gated community)
• Construction: Wood construction; Metal roof; Pillar/post/pier foundation
• Exterior features: Outdoor kitchen; Fenced yard (wood)

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Propane heating; Wall furnace; Ceiling fans; Window air conditioning units; Electric cooling
• Interior features: 7 total rooms; Bar fridge
• Laundry & utility: No laundry hookups inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 $843 of loan paydown is wiped out by about $1k 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.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($107k) 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 $107,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 288 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.04% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.02%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $114,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Hide A Way Trl	0.01mi	2/1.0	470 (+9%)	3mo	$77,500	$165	76
201 Deer Park Rd	0.20mi	1/1.0 (-1)	408 (-6%)	6mo	$90,000	$221	66
104 Oak Trl	0.37mi	1/1.0 (-1)	450 (+4%)	7mo	$55,000	$122	59
103 Holly Harbor Trl Unit 348A	0.31mi	1/1.0 (-1)	400 (-7%)	5mo	$150,000	$375	58
111/113 Shawnee Trl Unit D140/141	0.41mi	1/1.0 (-1)	420 (-3%)	9mo	$165,000	$393	58
108 Sailors Ct Unit 108 B	0.22mi	1/1.0 (-1)	396 (-8%)	9mo	$123,563	$312	57
286 Lake Tillery Trl	0.59mi	2/1.0	456 (+6%)	2mo	$100,000	$219	55
110 Shawnee Trl	0.41mi	1/1.0 (-1)	402 (-7%)	8mo	$125,000	$311	51
149 Deer Park Rd Unit D26/27	0.41mi	2/1.0	374 (-13%)	2mo	$105,000	$281	51
135 Muskhogean Way	0.39mi	1/1.0 (-1)	380 (-12%)	2mo	$81,500	$214	49
140 Landlubber Trl Unit H73	0.33mi	2/1.0	376 (-13%)	10mo	$100,000	$266	49
146 Larboard Trl	0.27mi	1/1.0 (-1)	484 (+12%)	11mo	$79,000	$163	48

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,509
• Equity at exit: $29,812

10-year hold

• IRR: 5.6%
• Equity multiple: 1.54×
• Total profit: $18,550
• Equity at exit: $31,615

Cash invested: $34,160 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$640
• Tax est. 1.5%: −$152 /mo · $1,830/yr
• Insurance: −$51
• HOA: −$43
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $114

Break-even live

Break-even rent $1,122

Max offer price $122,000

Occupancy floor 86%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $43 · $516/yr
• Likely covers: gas

Listing history 18 events

1. 2026-06-18
   days on market $122,000 Active 288 DOM
2. 2026-06-17
   days on market $122,000 Active 287 DOM
3. 2026-06-16
   days on market $122,000 Active 286 DOM
4. 2026-06-15
   days on market $122,000 Active 285 DOM
5. 2026-06-14
   days on market $122,000 Active 283 DOM
6. 2026-06-13
   days on market $122,000 Active 282 DOM
7. 2026-06-10
   days on market $122,000 Active 280 DOM
8. 2026-06-09
   pricedays on market $122,000 Active 279 DOM
9. 2026-06-08
   days on market $126,000 Active 278 DOM
10. 2026-06-07
    days on market $126,000 Active 277 DOM
11. 2026-06-05
    days on market $126,000 Active 274 DOM
12. 2026-06-03
    days on market $126,000 Active 273 DOM
13. 2026-06-02
    days on market $126,000 Active 272 DOM
14. 2026-06-01
    days on market $126,000 Active 271 DOM
15. 2026-05-31
    days on market $126,000 Active 270 DOM
16. 2026-05-31
    days on market $126,000 Active 269 DOM
17. 2026-04-28
    price $126,000
18. 2025-09-03
    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 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: $15,199
• − Mortgage interest: −$6,834
• − Property taxes: −$1,830
• − Insurance: −$610
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − HOA: −$516
• − Depreciation: −$3,549
• Taxable loss: −$572
• Est. tax savings @ 24.0%: +$137
• After-tax cash flow: $1,511/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: 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

-2.3% since first listed

2 events — show timeline

• 2026-04-28 Price Changed $126,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-03 Listed $129,000 CANOPYMLS as Distributed by MLS Grid