80 Doe Highlands Dr · Mount Airy, NC 24343

$69,000

1 bd · 1.0 ba · 900 sqft · Condo · 66 Days on market

Built 1972 Good condition $77/sqft · 33% below area Est $103k · 33% under $295/mo HOA · 36% of rent

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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).

• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• Cash flow +6.3/30.0
• Schools +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just off of the Blue Ridge Parkway this adorable "Honeymoon" condo located in Groundhog Mountain Resort. Step inside to an open layout where living, sleeping and relaxation flow together. Enjoy the beautiful Piedmont view or cozy up in front of the wood burning fireplace. The kitchenette is fully functional. The Parkway is an ideal base for hiking, scenic drives, wineries and local attractions. Groundhog Mountain community has Tennis Courts and a community pond. Call for more details!

Key facts

• Tennis courts
• Community pond
• Piedmont view

Tags

• PIEDMONT VIEW
• WOOD BURNING FIREPLACE
• FULLY FUNCTIONAL KITCHENETTE
• TENNIS COURTS
• COMMUNITY POND

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $51k (25.4% below list).
• Meets the 1% rule at list price ($823 rent vs $69k).
• Recommended offer: $51k (25.4% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 3.1% in Mount Airy — 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 62/100 on livability (#473 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Patrick County Public School District (rural): math 69% / reading 77% proficiency, ranked #18 of 131 in VA (top 14%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Meadows of Dan Elementary (math 67% / reading 82%, grade A, #220 of 1,108 statewide, top 22%, 401 students, 21% FRL); Hardin Reynolds Memorial School (math 67% / reading 77%, grade A, #65 of 342 statewide, top 21%, 217 students, 82% FRL); Patrick County High (math 66% / reading 76%, grade B+, #146 of 319 statewide, top 47%, 851 students, 82% FRL) — zoned schools average 62% FRL vs 45% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 units permitted in Patrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Patrick County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $21k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $51,445 (25.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 4.18%
• Cash-on-cash: -7.54%
• DSCR: 0.66
• GRM: 7.0

CMA / ARV

• ARV (median comp): $103,218
• List price: $69,000
• Delta: -33.15%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -29.0%
• Equity multiple: 0.03×
• Total profit: $-18,714
• Equity at exit: $10,288

10-year hold

• IRR: -27.4%
• Equity multiple: -0.32×
• Total profit: $-25,458
• Equity at exit: $5,966

Cash invested: $19,320 (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 24343

• Home prices YoY: -19.2%
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$295
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $-121

Break-even live

Break-even rent $977

Max offer price $51,445

Occupancy floor —

Sensitivity live

Price	-10% $-74	-5% $-97	+0% $-121	+5% $-145	+10% $-169
Rent	-10% $-186	-5% $-154	+0% $-121	+5% $-89	+10% $-56
Rate	-1.0pp $-87	-0.5pp $-104	base $-121	+0.5pp $-139	+1.0pp $-157

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-16
   status $69,000 Pending 66 DOM
2. 2026-06-15
   days on market $69,000 Active 66 DOM
3. 2026-06-14
   days on market $69,000 Active 64 DOM
4. 2026-06-12
   days on market $69,000 Active 63 DOM
5. 2026-06-09
   days on market $69,000 Active 60 DOM
6. 2026-06-08
   days on market $69,000 Active 59 DOM
7. 2026-06-07
   days on market $69,000 Active 58 DOM
8. 2026-06-05
   pricedays on market $69,000 Active 55 DOM
9. 2026-06-03
   days on market $90,000 Active 54 DOM
10. 2026-06-02
    days on market $90,000 Active 53 DOM
11. 2026-06-01
    days on market $90,000 Active 52 DOM
12. 2026-05-31
    days on market $90,000 Active 51 DOM
13. 2026-05-30
    days on market $90,000 Active 50 DOM
14. 2026-04-10
    listed $90,000 Active 499-char remark

    Show marketing remark (499 chars)

    Just off of the Blue Ridge Parkway this adorable "Honeymoon" condo located in Groundhog Mountain Resort. Step inside to an open layout where living, sleeping and relaxation flow together. Enjoy the beautiful Piedmont view or cozy up in front of the wood burning fireplace. The kitchenette is fully functional. The Parkway is an ideal base for hiking, scenic drives, wineries and local attractions. Groundhog Mountain community has Tennis Courts and a community pond. Call for more details!

15. 2022-03-09
    listed $85,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,881
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$791
• − Management: −$791
• − HOA: −$3,540
• − Depreciation: −$2,007
• Taxable loss: −$2,492
• Est. tax savings @ 24.0%: +$598
• After-tax cash flow: $-858/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

Good 75/100 Cosmetic rehab

This charming condo is in good condition with a good layout and modern finishes. It's ready for a new owner to move in and enjoy the beautiful Piedmont view.

Value-add opportunities

• Both Paint the exterior brick — Enhances curb appeal and value
• Both Replace the fireplace screen — Improves safety and aesthetics
• Both Install new window screens — Enhances comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior brick — Enhances curb appeal and value ↑
• Both Replace the fireplace screen — Improves safety and aesthetics ↑
• Both Install new window screens — Enhances comfort and energy efficiency ↑

ⓘ 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: Patrick County Public School District
• NCES district ID: 5102880
• Math proficiency: 69% ▼ -23.00%
• Reading proficiency: 77% ▼ -8.00%
• Median HH income: $36,331
• Composite: 60.52/100
• National rank: #842
• State rank: #18 of 131 in VA

Livability — Mount Airy

• Score: 62/100
• State rank: #473
• US rank: #17188

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 36,241
• Population (ZIP): 8,942

Population outlook (Patrick County) Hauer SSP2

• Today (2025): 16,918 people
• By 2030: 16,097 · -4.9%
• By 2040: 14,317 · -15.4%
• By 2050: 12,476 · -26.3%
• By 2075: 9,051 · -46.5%
• By 2100: 6,138 · -63.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Patrick

• 2024 margin: Solid R (+60.4) · D 19.4% · R 79.9%
• 2008→2024 swing: -29.8pp toward R · 2008: -30.6pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.0 2016: R+55.2 2012: R+38.9 2008: R+30.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.28%
• Current HPI: 161.0491
• 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

+5.9% since first listed

2 events — show timeline

• 2026-04-10 Listed $90,000 SWVAR
• 2022-03-09 Listed $85,000 SWVAR