223 E Vance St · Laurinburg, NC 28352

$122,900

3 bd · 1.0 ba · 1,521 sqft · SingleFamily public records · 530 Days on market

Built 1956 8,712 sqft lot Est $143k · 14% under

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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 +25.7/30.0
• ARV discount +13.8/15.0
• DSCR +8.5/10.0
• 1% rule +6.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.5/10.0

Listing remarks MLS

Great investment property.

Key facts

• High ceilings
• Spacious layout
• 8,712 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• WOOD BURNING FIREPLACES
• SPACIOUS LAYOUT
• HIGH CEILINGS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Wood siding; Has home warranty
• Exterior features: Covered front porch; Porch; Partial fencing in back yard; Cleared, level lot

Interior

• Kitchen: Kitchen island; Eat-in kitchen; Water heater (appliance listed)
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Ceiling fan cooling
• Interior features: Ceiling fans; Eat-in kitchen; High ceilings; Kitchen island; Storage; Wood-burning fireplace (2 total)
• Laundry & utility: Washer hookup in unit; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $108k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.1% in Laurinburg — 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 56/100 on livability (#632 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• Scotland County Schools (town): math 23% / reading 28% proficiency, ranked #160 of 178 in NC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Scotland High School (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,445 students, 98% FRL) — zoned schools average 98% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 44% at this address vs 26% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Scotland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 158 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 530 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $26k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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 $108,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 530 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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. 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?
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: 1.10% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $142,974
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 Pine St	0.03mi	4/1.0 (+1)	1,322 (-13%)	1mo	$25,000	$19	71
223 W Vance St	0.30mi	3/1.5	1,580 (+4%)	11mo	$170,000	$108	68
421 James St	0.25mi	2/2.0 (-1)	1,478 (-3%)	11mo	$152,200	$103	66
218 West Blvd	0.32mi	3/1.5	1,656 (+9%)	7mo	$155,000	$94	62
110 First St	0.63mi	2/1.0 (-1)	1,515 (-0%)	9mo	$72,000	$48	57
201 2nd St	0.59mi	2/1.0 (-1)	1,430 (-6%)	3mo	$60,000	$42	55
506 Everett St	0.35mi	3/2.0	1,451 (-5%)	23mo	$170,000	$117	52
321 Midland Way	0.45mi	3/2.0	1,648 (+8%)	11mo	$156,000	$95	52
613 Mcnair Ave	0.52mi	3/2.0	1,301 (-14%)	12mo	$62,000	$48	38

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,269
• Equity at exit: $18,325

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $22,835
• Equity at exit: $10,626

Cash invested: $34,412 (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 28352

• Home prices YoY: -3.4%
• Active inventory: 158
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,352 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $293

Break-even live

Break-even rent $981

Max offer price $122,900

Occupancy floor 73%

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $122,900 Active 530 DOM
2. 2026-06-17
   days on market $122,900 Active 529 DOM
3. 2026-06-16
   days on market $122,900 Active 528 DOM
4. 2026-06-15
   days on market $122,900 Active 527 DOM
5. 2026-06-14
   days on market $122,900 Active 525 DOM
6. 2026-06-13
   days on market $122,900 Active 524 DOM
7. 2026-06-10
   days on market $122,900 Active 522 DOM
8. 2026-06-09
   days on market $122,900 Active 521 DOM
9. 2026-06-08
   days on market $122,900 Active 520 DOM
10. 2026-06-07
    days on market $122,900 Active 519 DOM
11. 2026-06-05
    days on market $122,900 Active 516 DOM
12. 2026-06-03
    days on market $122,900 Active 515 DOM
13. 2026-06-02
    days on market $122,900 Active 514 DOM
14. 2026-06-01
    days on market $122,900 Active 513 DOM
15. 2026-05-31
    days on market $122,900 Active 512 DOM
16. 2026-05-30
    days on market $122,900 Active 511 DOM
17. 2026-03-21
    status Active
18. 2026-03-21
    price $122,900
19. 2026-03-07
    status Pending
20. 2026-01-17
    price $125,900
21. 2025-12-20
    price $129,900
22. 2025-10-13
    price $134,500
23. 2025-09-19
    price $135,000
24. 2025-07-26
    price $139,000
25. 2025-06-13
    price $144,900
26. 2025-03-21
    price $148,900
27. 2024-12-20
    listed $149,000 Active
28. 2022-09-21
    soldstatus $145,000
29. 2017-06-28
    soldstatus $18,000 26-char remark

    Show marketing remark (26 chars)

    Great investment property.

30. 2014-08-26
    listed $22,500 26-char remark

    Show marketing remark (26 chars)

    Great investment property.

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$57/yr (+$5/mo · 6.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,224
• − Mortgage interest: −$6,884
• − Property taxes: −$951
• − Insurance: −$614
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$3,575
• Taxable income: $1,604
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $3,133/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: Scotland County Schools
• NCES district ID: 3704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $31,203
• Composite: 20.66/100
• National rank: #8536
• State rank: #160 of 178 in NC

Livability — Laurinburg

• Score: 56/100
• State rank: #632
• US rank: #22962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurinburg, NC
• Population (ZIP): 24,177

Population outlook (Scotland County) Hauer SSP2

• Today (2025): 33,331 people
• By 2030: 32,017 · -3.9%
• By 2040: 29,290 · -12.1%
• By 2050: 26,554 · -20.3%
• By 2075: 19,857 · -40.4%
• By 2100: 13,851 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 37% Native American 11% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Scotland

• 2024 margin: Lean R (+6.9) · D 46.2% · R 53.1%
• 2008→2024 swing: -22.0pp toward R · 2008: 15.1pp · 2024: -6.9pp
• All cycles: 2024: R+6.9 2020: R+1.9 2016: D+7.8 2012: D+16.6 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.08%
• Current HPI: 255.331
• 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

+446.2% since first listed

14 events — show timeline

• 2026-03-21 Relisted — LPRMLS
• 2026-03-21 Price Changed $122,900 LPRMLS
• 2026-03-07 Pending — LPRMLS
• 2026-01-17 Price Changed $125,900 LPRMLS
• 2025-12-20 Price Changed $129,900 LPRMLS
• 2025-10-13 Price Changed $134,500 LPRMLS
• 2025-09-19 Price Changed $135,000 LPRMLS
• 2025-07-26 Price Changed $139,000 LPRMLS
• 2025-06-13 Price Changed $144,900 LPRMLS
• 2025-03-21 Price Changed $148,900 LPRMLS
• 2024-12-20 Listed $149,000 LPRMLS
• 2022-09-21 Sold (Public Records) $145,000 Public Records
• 2017-06-28 Sold (MLS) $18,000 Hive MLS
• 2014-08-26 Listed $22,500 Hive MLS

Property tax history

+1.5%/yr

Latest (2024): $951 · -0.9% YoY. Source: county tax records.