130 Gray Fox Dr · Lawndale, NC 28090

$164,900

3 bd · 2.0 ba · 1,736 sqft · Other public records · 66 Days on market

Built 2005 1.20 ac lot

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come enjoy this 3 bed / 2 bath home sitting on over 1 acre of land in upper cleveland county! This home features a separate living room and family room with an open layout into the kitchen and dining area. The master suite contains a large open bathroom with separate tub and tiled shower. If you enjoy cooking/ hosting family and friends, the kitchen has a large center island with great counter space and there are cabinets all around! Outside, there is a large front porch that is the perfect sitting area to relax and enjoy the privacy of your own space. New custom shutters, covered carport, outdoor shed, and level terrain are just some of the great perks of this house! Do not miss your chance to get in to see this one!

Key facts

• 1.2 acre lot
• Built 2005
• Listed 65 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: County water; Septic system installed
• Home design: Single-family manufactured home (CrossMod); One story; Crawl space foundation
• Construction: Off-frame and on-frame modular construction; Vinyl exterior
• Exterior features: Lot is 1.2 acres; Road surfaces include dirt, gravel and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Has a fireplace; One main living area (room count: 1)
• Laundry & utility: Laundry in a utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#669 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, 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.
• 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 $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $155,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.12% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 7.4

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: 1.2%
• Equity multiple: 1.04×
• Total profit: $2,050
• Equity at exit: $24,587

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $38,679
• Equity at exit: $14,258

Cash invested: $46,172 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$71 /mo · $857/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $453

Break-even live

Break-even rent $1,272

Max offer price $164,900

Occupancy floor 70%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $164,900 Active 66 DOM
2. 2026-06-18
   price $164,900 Active 65 DOM
3. 2026-06-18
   days on market $174,900 Active 65 DOM
4. 2026-06-17
   days on market $174,900 Active 64 DOM
5. 2026-06-16
   days on market $174,900 Active 63 DOM
6. 2026-06-15
   days on market $174,900 Active 62 DOM
7. 2026-06-14
   days on market $174,900 Active 60 DOM
8. 2026-06-13
   days on market $174,900 Active 59 DOM
9. 2026-06-10
   days on market $174,900 Active 57 DOM
10. 2026-06-09
    days on market $174,900 Active 56 DOM
11. 2026-06-08
    days on market $174,900 Active 55 DOM
12. 2026-06-07
    days on market $174,900 Active 54 DOM
13. 2026-06-05
    days on market $174,900 Active 51 DOM
14. 2026-06-03
    days on market $174,900 Active 50 DOM
15. 2026-06-02
    days on market $174,900 Active 49 DOM
16. 2026-06-01
    days on market $174,900 Active 48 DOM
17. 2026-05-31
    days on market $174,900 Active 47 DOM
18. 2026-05-30
    days on market $174,900 Active 46 DOM
19. 2026-05-13
    price $174,900
20. 2026-04-14
    listed $184,900 Active
21. 2022-03-01
    soldstatus $182,500 Closed 734-char remark

    Show marketing remark (734 chars)

    Come enjoy this 3 bed / 2 bath home sitting on over 1 acre of land in upper cleveland county! This home features a separate living room and family room with an open layout into the kitchen and dining area. The master suite contains a large open bathroom with separate tub and tiled shower. If you enjoy cooking/ hosting family and friends, the kitchen has a large center island with great counter space and there are cabinets all around! Outside, there is a large front porch that is the perfect sitting area to relax and enjoy the privacy of your own space. New custom shutters, covered carport, outdoor shed, and level terrain are just some of the great perks of this house! Do not miss your chance to get in to see this one!

22. 2022-01-27
    historical Active Under Contract 734-char remark

    Show marketing remark (734 chars)

    Come enjoy this 3 bed / 2 bath home sitting on over 1 acre of land in upper cleveland county! This home features a separate living room and family room with an open layout into the kitchen and dining area. The master suite contains a large open bathroom with separate tub and tiled shower. If you enjoy cooking/ hosting family and friends, the kitchen has a large center island with great counter space and there are cabinets all around! Outside, there is a large front porch that is the perfect sitting area to relax and enjoy the privacy of your own space. New custom shutters, covered carport, outdoor shed, and level terrain are just some of the great perks of this house! Do not miss your chance to get in to see this one!

23. 2021-12-27
    listed $185,000 Active 734-char remark

    Show marketing remark (734 chars)

    Come enjoy this 3 bed / 2 bath home sitting on over 1 acre of land in upper cleveland county! This home features a separate living room and family room with an open layout into the kitchen and dining area. The master suite contains a large open bathroom with separate tub and tiled shower. If you enjoy cooking/ hosting family and friends, the kitchen has a large center island with great counter space and there are cabinets all around! Outside, there is a large front porch that is the perfect sitting area to relax and enjoy the privacy of your own space. New custom shutters, covered carport, outdoor shed, and level terrain are just some of the great perks of this house! Do not miss your chance to get in to see this one!

24. 2021-12-15
    historical $185,000 734-char remark

    Show marketing remark (734 chars)

    Come enjoy this 3 bed / 2 bath home sitting on over 1 acre of land in upper cleveland county! This home features a separate living room and family room with an open layout into the kitchen and dining area. The master suite contains a large open bathroom with separate tub and tiled shower. If you enjoy cooking/ hosting family and friends, the kitchen has a large center island with great counter space and there are cabinets all around! Outside, there is a large front porch that is the perfect sitting area to relax and enjoy the privacy of your own space. New custom shutters, covered carport, outdoor shed, and level terrain are just some of the great perks of this house! Do not miss your chance to get in to see this one!

25. 2007-01-02
    soldstatus $107,000

ⓘ 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: $857 · $71/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$495/yr (+$41/mo · 57.8%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $22,139
• − Mortgage interest: −$9,237
• − Property taxes: −$857
• − Insurance: −$824
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$4,797
• Taxable income: $2,881
• Est. tax owed @ 24.0%: −$691
• After-tax cash flow: $4,740/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 — Lawndale

• Score: 54/100
• State rank: #669
• US rank: #24044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

+63.5% since first listed

7 events — show timeline

• 2026-05-13 Price Changed $174,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-14 Listed $184,900 CANOPYMLS as Distributed by MLS Grid
• 2022-03-01 Sold (MLS) $182,500 CANOPYMLS as Distributed by MLS Grid
• 2022-01-27 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-12-27 Listed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2021-12-15 Coming Soon $185,000 CANOPYMLS as Distributed by MLS Grid
• 2007-01-02 Sold (Public Records) $107,000 Public Records

Property tax history

-0.2%/yr

Latest (2017): $857 · +5.3% YoY. Source: county tax records.