316 Meadow Creek Church Rd · Locust, NC 28097

$150,000

2 bd · 2.0 ba · 2,186 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.50 ac lot

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Why this score? — see what drove the B- 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 +23.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* HIGHEST AND BEST OFFERS BY MONDAY 5/3/2026 AT 12PM * Looking for your next flip or a high-potential rental? This is the one! Nestled in the growing and highly sought-after area of Locust, this property is a true "diamond in the rough" priced well below market value to SELL FAST and accommodate your vision and renovations. Home is being SOLD AS IS. Originally house was built with 2 bedrooms, but now has 4 Bedrooms

Key facts

• 0.5 acre lot
• 2 parking spots
• Built 1955

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport; 2-car carport spaces; Has carport
• Utilities: Well water; Septic system
• Home design: Single-family residential property; Site-built construction; One story; Crawl space foundation
• Construction: Vinyl exterior
• Exterior features: Shed(s) on the property; Publicly maintained road access; Road surfaces are gravel and paved

Interior

• Kitchen: Electric cooktop
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Electric cooktop; 2 total rooms
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.4% vs local median 2.6% in Locust — 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 (#458 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools 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.
• Market conditions: 166 active listings in the ZIP; 367 units permitted in Stanly County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Stanly County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $150,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $424,084
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Old Hickory Rd	0.56mi	3/2.0 (+1)	1,940 (-11%)	1mo	$485,000	$250	49
218 Old Hickory Rd	0.35mi	3/2.5 (+1)	2,024 (-7%)	22mo	$550,000	$272	46
146 Kerri Dawn Ln	0.70mi	3/2.5 (+1)	2,033 (-7%)	5mo	$359,900	$177	44
207 Kerri Dawn Ln	0.63mi	3/3.0 (+1)	2,416 (+10%)	2mo	$450,000	$186	42
134 Kerri Dawn Ln	0.71mi	3/2.5 (+1)	1,975 (-10%)	5mo	$370,000	$187	40
101 Old Hickory Rd	0.36mi	3/2.0 (+1)	2,500 (+14%)	21mo	$450,000	$180	37
130 Kerri Dawn Ln	0.72mi	3/2.5 (+1)	1,885 (-14%)	19mo	$365,000	$194	20
225 Simpson Rd	0.69mi	3/2.0 (+1)	1,883 (-14%)	23mo	$435,000	$231	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.35×
• Total profit: $98,831
• Equity at exit: $135,132

10-year hold

• IRR: 25.9%
• Equity multiple: 7.61×
• Total profit: $277,584
• Equity at exit: $291,417

Cash invested: $42,000 (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 28097

• Home prices YoY: 7.0%
• Active inventory: 166
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,617 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$160 /mo · $1,916/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $269

Break-even live

Break-even rent $1,277

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-04
   status Pending
2. 2026-05-01
   listed $150,000 Active

ⓘ 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: $1,916 · $160/mo
• Projected year-2 tax: $1,916 · $160/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,409
• − Mortgage interest: −$8,402
• − Property taxes: −$1,916
• − Insurance: −$750
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$4,364
• Taxable income: $871
• Est. tax owed @ 24.0%: −$209
• After-tax cash flow: $3,018/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 — Locust

• Score: 62/100
• State rank: #458
• US rank: #16792

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Locust, NC
• Population (ZIP): 7,976

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 26.92%
• Current HPI: 409.27
• 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

2 events — show timeline

• 2026-05-04 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Listed $150,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $1,916 · +19.7% YoY. Source: county tax records.