792 Main St S · Mocksville, NC 27028

$45,900

3 bd · 1.0 ba · 1,538 sqft · SingleFamily public records · 13 Days on market

Built 1923 7,405 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE OFFERS. Submit all offers by 5:00pm on Monday 10/7/24. Build on this lot or refurbish this 1923 home with 4 bedrooms on a full basement. Home does have water damage from roof leaks from 20+ years vacant. Water/Sewer are available on street. No electricity or HVAC. Town of Mocksville in process of abandoning the unused 40' alley to right of property and should give this home an additional 20' of acreage on the right for a driveway. All personal property to remain with home (no cleanout). This home was a show piece of style and architecture in the early 1920's when South Main Street was extended. NOTE: ENTER AT YOUR OWN RISK as floors are soft in places and stairs have broken treads.

Key facts

• 7,405 sq ft lot
• Built 1923
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Cap rate 42.5% vs local median 4.0% in Mocksville — 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 73/100 on livability (#68 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D, amenities F.
• Davie County Schools (rural): math 51% / reading 52% proficiency, ranked #57 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mocksville Elementary (math 46% / reading 44%, grade D-, #568 of 1,410 statewide, top 41%, 548 students, 66% FRL); South Davie Middle (math 38% / reading 40%, grade F, #238 of 475 statewide, top 51%, 547 students, 67% FRL); Davie County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 1,770 students, 42% FRL) — zoned schools average 59% FRL vs 37% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 219 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 250 units permitted in Davie County in 2024 (65 in 5+ unit buildings).
• This rent runs 38% of the median local income ($69k/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 $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Davie County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $36k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,900

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 4.83% ✓
• Cap rate: 42.52%
• Cash-on-cash: 129.37%
• DSCR: 6.76
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $287,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 Applegate Ct	0.48mi	3/2.0	1,666 (+8%)	1mo	$312,500	$188	59
209 Charleston Ridge Dr	0.60mi	3/2.0	1,641 (+7%)	1mo	$362,000	$221	56
163 New Hampshire Ct	0.60mi	3/2.0	1,637 (+6%)	3mo	$310,000	$189	55
145 Charleston Ridge Dr	0.68mi	3/2.0	1,535 (-0%)	12mo	$310,000	$202	54
142 Council St	0.24mi	4/2.5 (+1)	1,710 (+11%)	8mo	$265,997	$156	52
136 Council St	0.23mi	4/2.5 (+1)	1,710 (+11%)	9mo	$272,997	$160	52
173 New Hampshire Ct	0.58mi	3/2.0	1,414 (-8%)	11mo	$265,000	$187	46
173 New Hampshire Ct #28	0.58mi	3/2.0	1,414 (-8%)	11mo	$265,000	$187	46
115 New Hampshire Ct #35	0.62mi	3/2.0	1,726 (+12%)	6mo	$254,000	$147	42
115 New Hampshire Ct	0.62mi	3/2.0	1,726 (+12%)	6mo	$254,000	$147	42
204 New Hampshire Ct	0.59mi	3/2.0	1,754 (+14%)	12mo	$329,000	$188	36
216 New Hampshire Ct	0.61mi	3/2.0	1,760 (+14%)	12mo	$320,000	$182	33

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: —
• Equity multiple: 7.29×
• Total profit: $80,870
• Equity at exit: $6,844

10-year hold

• IRR: —
• Equity multiple: 15.34×
• Total profit: $184,306
• Equity at exit: $3,969

Cash invested: $12,852 (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 27028

• Home prices YoY: -23.8%
• Active inventory: 219
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,217 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,386

Break-even live

Break-even rent $463

Max offer price $45,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,412	-5% $1,399	+0% $1,386	+5% $1,373	+10% $1,360
Rent	-10% $1,210	-5% $1,298	+0% $1,386	+5% $1,473	+10% $1,561
Rate	-1.0pp $1,409	-0.5pp $1,397	base $1,386	+0.5pp $1,374	+1.0pp $1,362

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 Winding Creek Rd Mocksville, NC	3.0	2.0	1441	$1,825	$1.27	15d	1	0.39mi
204 Spring St Mocksville, NC	3.0	2.0	1405	$1,750	$1.25	24d	1	1.45mi

Listing history 4 events

1. 2024-10-16
   status Pending
2. 2024-10-14
   historical Due Diligence Period
3. 2024-10-02
   listed $45,900 Active
4. 2001-07-16
   soldstatus $36,000

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,601
• − Mortgage interest: −$2,571
• − Property taxes: −$1,270
• − Insurance: −$230
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$1,335
• Taxable income: $16,938
• Est. tax owed @ 24.0%: −$4,065
• After-tax cash flow: $12,561/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: Davie County Schools
• NCES district ID: 3701170
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $51,331
• Composite: 44.16/100
• National rank: #2860
• State rank: #57 of 178 in NC

Livability — Mocksville

• Score: 73/100
• State rank: #68
• US rank: #5153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mocksville, NC
• County: Davie County · 42,813 people
• City population: 26,566
• Metro: Winston-Salem, NC
• Population (ZIP): 26,566
• Household income: $69,137
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 512.0

Population outlook (Davie County) Hauer SSP2

• Today (2025): 42,613 people
• By 2030: 42,691 · +0.2%
• By 2040: 42,137 · -1.1%
• By 2050: 40,445 · -5.1%
• By 2075: 35,939 · -15.7%
• By 2100: 29,103 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 1%

Political lean MEDSL · Davie

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.6% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.3pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.5 2016: R+48.1 2012: R+43.7 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.58%
• Current HPI: 191.2464
• Rent YoY: —
• Metro: Winston-Salem, 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

+27.5% since first listed

4 events — show timeline

• 2024-10-16 Pending — Triad MLS
• 2024-10-14 Contingent — Triad MLS
• 2024-10-02 Listed $45,900 Triad MLS
• 2001-07-16 Sold (Public Records) $36,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,270 · +151.6% YoY. Source: county tax records.