103 S Wooten St · La Grange, NC 28551

$135,000

3 bd · 1.0 ba · 938 sqft · SingleFamily public records · 67 Days on market

Built 1948 6,098 sqft lot Est $174k · 23% under ↓ 4% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for first-time homebuyers or investors! This home has been a rental property and offers solid potential with a functional layout and comfortable living spaces. Featuring a durable metal roof and updated flooring, this property provides a good foundation for a new owner to make it their own or continue as an income-producing rental. Conveniently located in the heart of La Grange, the home is within walking distance to downtown amenities including shopping, grocery stores, and local dining. Welcome Home!

Key facts

• Metal roof
• Updated flooring
• 6,098 sq ft lot

Tags

• METAL ROOF
• UPDATED FLOORING

Property features AI

Finance

• Other: Zoning: R12; Paved road access; Lot approximately 0.14 acres; Frontage: see remarks

Exterior

• Parking: No parking
• Utilities: Public water; Public sewer; Water connected; Sewer connected
• Home design: Single family residence; One story; Entry level: 1; Has a view
• Construction: Block foundation; Block construction; Concrete construction; Aluminum siding; Vinyl siding; Metal roof; Built as single-family residence
• Exterior features: Front porch; Storage structure; Fenced (other)

Interior

• Kitchen: Refrigerator; Range
• Bedrooms: 5 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Other heating; Central air conditioning
• Interior features: Refrigerator; Range; Gas water heater; Washer hookup; No basement
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.3% in La Grange — 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 66/100 on livability (#278 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: La Grange Elementary (math 32% / reading 32%, grade F, #908 of 1,410 statewide, top 67%, 498 students, 99% FRL); E B Frink Middle (math 35% / reading 35%, grade F, #286 of 475 statewide, top 61%, 540 students, 99% FRL); North Lenoir High (math 52% / reading 36%, grade F, #367 of 535 statewide, top 69%, 975 students, 100% FRL) — zoned schools average 100% FRL vs 65% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% 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 $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.38% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.42%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $174,468
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Wooten St	0.25mi	2/1.0 (-1)	958 (+2%)	4mo	$130,000	$136	77
303 E James St	0.24mi	2/2.0 (-1)	887 (-5%)	2mo	$176,500	$199	69
214 E James St	0.19mi	3/1.0	1,000 (+7%)	14mo	$145,000	$145	68
402 W James St	0.55mi	2/2.0 (-1)	888 (-5%)	1mo	$185,500	$209	56
404 W James St	0.56mi	2/2.0 (-1)	888 (-5%)	1mo	$185,500	$209	55
408 Firetower Rd	0.69mi	3/1.0	1,026 (+9%)	14mo	$175,000	$171	40
215 W James St	0.48mi	2/1.0 (-1)	1,032 (+10%)	20mo	$95,000	$92	39
305 W Queen St	0.64mi	3/2.0	1,064 (+13%)	18mo	$197,400	$186	29

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $19,053
• Equity at exit: $20,129

10-year hold

• IRR: 21.6%
• Equity multiple: 2.83×
• Total profit: $69,198
• Equity at exit: $11,672

Cash invested: $37,800 (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 28551

• Home prices YoY: -16.2%
• Active inventory: 86
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,866 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $643

Break-even live

Break-even rent $1,052

Max offer price $135,000

Occupancy floor 61%

Sensitivity live

Price	-10% $720	-5% $681	+0% $643	+5% $605	+10% $567
Rent	-10% $496	-5% $569	+0% $643	+5% $717	+10% $791
Rate	-1.0pp $711	-0.5pp $677	base $643	+0.5pp $608	+1.0pp $573

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $135,000 Active 67 DOM
2. 2026-06-18
   days on market $135,000 Active 66 DOM
3. 2026-06-17
   days on market $135,000 Active 65 DOM
4. 2026-06-16
   days on market $135,000 Active 64 DOM
5. 2026-06-15
   days on market $135,000 Active 63 DOM
6. 2026-06-14
   days on market $135,000 Active 61 DOM
7. 2026-06-12
   days on market $135,000 Active 60 DOM
8. 2026-06-09
   days on market $135,000 Active 57 DOM
9. 2026-06-08
   days on market $135,000 Active 56 DOM
10. 2026-06-07
    days on market $135,000 Active 55 DOM
11. 2026-06-07
    days on market $135,000 Active 54 DOM
12. 2026-06-04
    days on market $135,000 Active 51 DOM
13. 2026-06-02
    days on market $135,000 Active 50 DOM
14. 2026-06-01
    days on market $135,000 Active 49 DOM
15. 2026-05-31
    days on market $135,000 Active 48 DOM
16. 2026-05-31
    days on market $135,000 Active 47 DOM
17. 2026-05-07
    price $135,000
18. 2026-04-13
    listed $140,000 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: $803 · $67/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$304/yr (+$25/mo · 37.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $22,394
• − Mortgage interest: −$7,562
• − Property taxes: −$803
• − Insurance: −$675
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$3,927
• Taxable income: $5,844
• Est. tax owed @ 24.0%: −$1,402
• After-tax cash flow: $6,315/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: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — La Grange

• Score: 66/100
• State rank: #278
• US rank: #12047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grange, NC
• Population (ZIP): 13,264

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Black 21% Hispanic / Latino 16% Two or more races 8%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 1% Portuguese 1% Slovene 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 12%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.90%
• Current HPI: 216.483
• 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

-3.6% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $135,000 Hive MLS
• 2026-04-13 Listed $140,000 Hive MLS

Property tax history

+1.8%/yr

Latest (2025): $803 · +33.3% YoY. Source: county tax records.