121 Ashe St · Coats, NC 27521

$224,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 271 Days on market

Built 1999 0.38 ac lot Est $200k · 12% over

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Why this score? — see what drove the F 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 +11.9/30.0
• DSCR +3.5/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This 4 bedroom mobile home shows like new. New flooring and paint. New kitchen is a must see. Bar area is great for more seating. Love the split bedroom plan. Owner's suite has large closet. Nice laundry area. Corner fireplace in living room is cozy for those evening relaxation. Large deck for cookouts. Outbuilding to convey.

Key facts

• Large deck
• Outbuilding
• Large closet

Tags

• SPLIT BEDROOM PLAN
• LARGE CLOSET
• LAUNDRY AREA
• CORNER FIREPLACE
• LARGE DECK
• OUTBUILDING

Property features AI

Finance

• HOA & community: No homeowners association; Not a senior community

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home (double wide); Single-story
• Construction: Vinyl siding; Asbestos shingle roof
• Exterior features: Lot is approximately 0.38 acres; Publicly maintained road access

Interior

• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $224k.

Deal economics

• At list price, monthly cash flow is $-56 ($-670/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (26.9% below list).
• Recommended offer: $164k (26.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.2% in Coats — 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 (#430 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Harnett County Schools (rural): math 31% / reading 39% proficiency, ranked #130 of 178 in NC (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coats-Erwin Middle (math 27% / reading 38%, grade F, #312 of 475 statewide, top 66%, 606 students, 68% FRL); Triton High (math 41% / reading 49%, grade D-, #350 of 535 statewide, top 66%, 1,287 students, 63% FRL).
• Market conditions: 47 active listings in the ZIP; 2,080 units permitted in Harnett County in 2024 (12 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Harnett County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $82k; list at $224k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% 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 $163,839 (26.9% 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 271 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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: 0.73% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 Maple St	0.10mi	3/2.0	1,232 (-5%)	8mo	$190,000	$154	81

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-39,952
• Equity at exit: $33,399

10-year hold

• IRR: -10.5%
• Equity multiple: 0.37×
• Total profit: $-39,763
• Equity at exit: $19,367

Cash invested: $62,720 (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 27521

• Home prices YoY: -16.1%
• Active inventory: 47
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,638 medium
• Mortgage (P&I): −$1,175
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-56

Break-even live

Break-even rent $1,709

Max offer price $214,133

Occupancy floor 98%

Sensitivity live

Price	-10% $71	-5% $8	+0% $-56	+5% $-119	+10% $-183
Rent	-10% $-185	-5% $-121	+0% $-56	+5% $9	+10% $74
Rate	-1.0pp $57	-0.5pp $1	base $-56	+0.5pp $-114	+1.0pp $-173

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $224,000 Active 271 DOM
2. 2026-06-17
   days on market $224,000 Active 270 DOM
3. 2026-06-16
   days on market $224,000 Active 269 DOM
4. 2026-06-15
   days on market $224,000 Active 268 DOM
5. 2026-06-14
   days on market $224,000 Active 266 DOM
6. 2026-06-10
   days on market $224,000 Active 263 DOM
7. 2026-06-09
   days on market $224,000 Active 262 DOM
8. 2026-06-08
   days on market $224,000 Active 261 DOM
9. 2026-06-07
   days on market $224,000 Active 260 DOM
10. 2026-06-05
    days on market $224,000 Active 257 DOM
11. 2026-06-03
    days on market $224,000 Active 256 DOM
12. 2026-06-02
    days on market $224,000 Active 255 DOM
13. 2026-06-01
    days on market $224,000 Active 254 DOM
14. 2026-05-31
    days on market $224,000 Active 253 DOM
15. 2026-05-30
    days on market $224,000 Active 252 DOM
16. 2026-03-19
    price $224,000
17. 2025-11-24
    price $229,900
18. 2025-09-19
    listed $234,900 Active
19. 2008-04-15
    soldstatus $82,000
20. 2002-02-28
    historical
21. 2001-02-27
    listed $71,500

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $1,837 · $153/mo
• Expected delta: +$851/yr (+$71/mo · 86.3%)

ⓘ 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 6/10 Major 73% 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: $19,661
• − Mortgage interest: −$12,547
• − Property taxes: −$986
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$6,516
• Taxable loss: −$4,655
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $447/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: Harnett County Schools
• NCES district ID: 3702010
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $45,400
• Composite: 29.88/100
• National rank: #6397
• State rank: #130 of 178 in NC

Livability — Coats

• Score: 63/100
• State rank: #430
• US rank: #15847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coats, NC
• County: Harnett County · 125,715 people
• City population: 6,549
• Metro: Fayetteville, NC
• Population (ZIP): 6,549
• Household income: $61,590
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 163.0

Population outlook (Harnett County) Hauer SSP2

• Today (2025): 153,758 people
• By 2030: 166,581 · +8.3%
• By 2040: 192,741 · +25.4%
• By 2050: 218,332 · +42.0%
• By 2075: 275,422 · +79.1%
• By 2100: 313,511 · +103.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 18% Black 14% Native American 9% Two or more races 5%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Italian 3% Serbian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Harnett

• 2024 margin: Strong R (+25.1) · D 36.9% · R 62.0% · Other 1.1%
• 2008→2024 swing: -8.4pp toward R · 2008: -16.7pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+22.4 2016: R+24.1 2012: R+19.4 2008: R+16.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.32%
• Current HPI: 220.9205
• Rent YoY: —
• Metro: Fayetteville, NC
• 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

+213.3% since first listed

6 events — show timeline

• 2026-03-19 Price Changed $224,000 TMLS
• 2025-11-24 Price Changed $229,900 TMLS
• 2025-09-19 Listed $234,900 TMLS
• 2008-04-15 Sold (Public Records) $82,000 Public Records
• 2002-02-28 Listing Removed — TMLS
• 2001-02-27 Listed $71,500 TMLS

Property tax history

-1.7%/yr

Latest (2025): $986 · +0.0% YoY. Source: county tax records.