309 Fairchild Way · Albemarle, NC 28001

$290,000

3 bd · 3.0 ba · 1,559 sqft · SingleFamily public records · 55 Days on market

Built 2024 3,484 sqft lot Est $281k · at est. $50/mo HOA · 3% of rent

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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).

• ARV discount +6.0/15.0
• Cash flow +5.7/30.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

Key facts

• 3,484 sq ft lot
• 2 garage spots
• Built 2024

Property features AI

Finance

• HOA & community: Homeowners association managed by Braesael Management; HOA fees $300 semi-annually (approx. $600/year); HOA required

Exterior

• Parking: Attached garage; Driveway; 2-car garage
• Utilities: City water; Public sewer
• Home design: Single-family residence; Two levels; Site built; Vinyl exterior; Slab foundation; R-10 zoning
• Construction: Site built construction; Vinyl siding; Slab foundation
• Exterior features: Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher; Microwave; Oven; Disposal; Electric water heater
• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 2 full bathrooms; 1 half bathroom (main level)
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 10 total rooms
• Laundry & utility: Laundry room on the upper level

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-596 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (36.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (41.5% below list).
• Recommended offer: $170k (41.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#167 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Stanly County Schools (rural): math 38% / reading 42% proficiency, ranked #113 of 178 in NC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Aquadale Elementary (math 47% / reading 42%, grade F, #574 of 1,410 statewide, top 43%, 352 students, 99% FRL); South Stanly High (math 47% / reading 52%, grade D, #311 of 535 statewide, top 60%, 442 students, 48% FRL) — zoned schools average 74% FRL vs 46% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 277 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 367 units permitted in Stanly County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Stanly County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $169,695 (41.5% 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 55 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.59% ✗
• Cap rate: 3.83%
• Cash-on-cash: -8.80%
• DSCR: 0.61
• GRM: 14.2

CMA / ARV

• ARV (on-the-fly): $280,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 J.p. Dr #183	0.12mi	3/2.5	1,528 (-2%)	8mo	$286,000	$187	83
1124 Jeffery Dean Ct	0.10mi	3/2.5	1,605 (+3%)	7mo	$270,000	$168	83
1105 Harry Ct	0.13mi	3/2.5	1,528 (-2%)	13mo	$287,000	$188	78
1105 Harry Ct	0.13mi	3/2.5	1,528 (-2%)	13mo	$287,000	$188	78
2108 Morgan Hills Dr	0.13mi	3/2.5	1,658 (+6%)	13mo	$279,000	$168	71
1025 Freeman View Dr	0.15mi	3/2.5	1,735 (+11%)	4mo	$314,000	$181	69
2405 Morgan Hills Dr #308	0.25mi	3/2.5	1,723 (+10%)	0mo	$309,900	$180	68
625 Fernwood Dr	0.53mi	3/2.0	1,603 (+3%)	1mo	$285,000	$178	66
1022 Jeffery Dean Ct #39	0.14mi	3/2.5	1,755 (+13%)	7mo	$295,000	$168	64
1101 Lorrie Ln #417	0.26mi	3/2.5	1,732 (+11%)	5mo	$322,900	$186	64
742 Aquadale Rd	0.28mi	3/1.5	1,690 (+8%)	12mo	$210,000	$124	57
601 Fernwood Dr	0.46mi	3/2.0	1,709 (+10%)	8mo	$230,000	$135	52

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: -31.9%
• Equity multiple: -0.05×
• Total profit: $-84,954
• Equity at exit: $43,240

10-year hold

• IRR: -36.5%
• Equity multiple: -0.51×
• Total profit: $-122,902
• Equity at exit: $25,074

Cash invested: $81,200 (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 28001

• Home prices YoY: -33.1%
• Active inventory: 277
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$245 /mo · $2,937/yr
• Insurance: −$121
• HOA: −$50
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-596

Break-even live

Break-even rent $2,451

Max offer price $184,754

Occupancy floor —

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Church St Albemarle, NC	3.0	1.0	1172	$1,130	$0.96	2d	1	1.30mi
197 N 2nd St Albemarle, NC	2.0	1.0	1100	$2,365	$2.15	23d	1	1.44mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: water

Listing history 23 events

1. 2026-06-18
   days on market $290,000 Active 55 DOM
2. 2026-06-17
   days on market $290,000 Active 54 DOM
3. 2026-06-16
   days on market $290,000 Active 53 DOM
4. 2026-06-15
   days on market $290,000 Active 52 DOM
5. 2026-06-13
   days on market $290,000 Active 50 DOM
6. 2026-06-09
   days on market $290,000 Active 46 DOM
7. 2026-06-08
   days on market $290,000 Active 45 DOM
8. 2026-06-07
   pricedays on market $290,000 Active 44 DOM
9. 2026-06-04
   days on market $295,000 Active 41 DOM
10. 2026-06-03
    days on market $295,000 Active 40 DOM
11. 2026-06-02
    days on market $295,000 Active 39 DOM
12. 2026-06-01
    days on market $295,000 Active 38 DOM
13. 2026-05-31
    days on market $295,000 Active 37 DOM
14. 2026-04-24
    listed $295,000 Active
15. 2026-04-21
    historical $295,000
16. 2026-03-26
    price $300,000
17. 2026-03-14
    listed $309,900 Active
18. 2026-03-11
    historical
19. 2024-06-21
    soldstatus $279,170 Closed 901-char remark

    Show marketing remark (901 chars)

    Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

20. 2024-05-03
    status Pending 901-char remark

    Show marketing remark (901 chars)

    Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

21. 2024-05-01
    price $281,170 901-char remark

    Show marketing remark (901 chars)

    Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

22. 2024-04-22
    price $279,170 901-char remark

    Show marketing remark (901 chars)

    Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

23. 2024-04-17
    listed $280,170 Active 901-char remark

    Show marketing remark (901 chars)

    Brand new, energy-efficient home available NOW! Work from home or designate a homework space in the second-story study. Down the hall, the spacious primary suite boasts dual sinks and a walk-in closet. Downstairs, the open-concept layout is accented with a convenient powder room and back patio. Morgan Hills offers a series of two-story, energy-efficient homes in Albemarle,NC. Enjoy hiking, fishing and water sports at nearby Uwharrie National Forest or Lake Tillery before ending the day at one of the many stunning wineries. Just minutes away, downtown Albemarle is home to plenty of local shops and dining options, perfect for the whole family. Schedule a tour today of our model home to see all the benefits of a new home in Albermarle. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

ⓘ 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: $2,937 · $245/mo
• Projected year-2 tax: $2,937 · $245/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $20,363
• − Mortgage interest: −$16,245
• − Property taxes: −$2,937
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − HOA: −$600
• − Depreciation: −$8,436
• Taxable loss: −$12,562
• Est. tax savings @ 24.0%: +$3,015
• After-tax cash flow: $-4,134/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: Stanly County Schools
• NCES district ID: 3704320
• Math proficiency: 38% ▼ -1.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $43,802
• Composite: 33.9/100
• National rank: #5343
• State rank: #113 of 178 in NC

Livability — Albemarle

• Score: 68/100
• State rank: #167
• US rank: #8957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albemarle, NC
• City population: 26,187
• Population (ZIP): 26,187

Population outlook (Stanly County) Hauer SSP2

• Today (2025): 60,082 people
• By 2030: 59,485 · -1.0%
• By 2040: 57,407 · -4.5%
• By 2050: 54,051 · -10.0%
• By 2075: 45,384 · -24.5%
• By 2100: 34,694 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Hispanic / Latino 5% Two or more races 3% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 3% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Stanly

• 2024 margin: Solid R (+50.9) · D 24.2% · R 75.1%
• 2008→2024 swing: -14.2pp toward R · 2008: -36.7pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+51.1 2016: R+50.2 2012: R+40.4 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.68%
• Current HPI: 221.8601
• 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

+5.3% since first listed

10 events — show timeline

• 2026-04-24 Listed $295,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $295,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-26 Price Changed $300,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-14 Listed $309,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-11 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2024-06-21 Sold (MLS) $279,170 Triad MLS
• 2024-05-03 Pending — Triad MLS
• 2024-05-01 Price Changed $281,170 Triad MLS
• 2024-04-22 Price Changed $279,170 Triad MLS
• 2024-04-17 Listed $280,170 Triad MLS

Property tax history

+145.3%/yr

Latest (2025): $2,937 · +11.8% YoY. Source: county tax records.