10420 Silver Mine Rd · Charlotte, NC 29707

$205,000

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 416 Days on market

Built 1989 1.92 ac lot

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your chance to purchase a property with so much potential with a lot just right under 2 acres in Indian Land (1.92 acres). Located in a market that is still on the rise and within a close proximity of well-established subdivisions you can have the enjoyment of no HOA restrictions being located outside of these developments. The existing structure does require some remodeling and repair but still leaves room for a reasonable budget for renovating and getting this manufactured home back in proper condition. The primary bedroom bath has been removed but is currently converted into an open closet area. There is also an opportunity for someone looking to do a complete rebuild and possibly a sub dividable lot within a high demand area. Making note only site built & modular homes can be constructed if pre-existing manufacture home is demoed and not plan to rebuilt within a 6 month period. Lancaster Zoning confirmed that a new manufactured home could be grandfathered if it is built within 6 month period. Current owner will have to provide 6 months of active utility bills to get this granted. The MDR zoning for our subject allows for property to be subdivided with a minimum lot size of 10,000 sq ft per lot. The Lancaster zoning confirmed it is possible that a potential of 4-5 lots could potentially go on this property if it could be confirmed for sewer and water requirements for each lot to pass inspections. Just minutes away from Ballantyne as the property is near the SC/Charlotte NC border. Agent, please review agent remarks for pertinent details.

Key facts

• High demand area
• Open closet area
• 2 acres

Tags

• 2 ACRES
• NO HOA RESTRICTIONS
• OPEN CLOSET AREA
• SUBDIVIDABLE LOT
• HIGH DEMAND AREA
• NEAR SC/CHARLOTTE BORDER

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Well water; Septic system; Electricity connected; Cable connected
• Home design: Manufactured singlewide home; Single-story; Pillar/post/pier foundation
• Construction: Vinyl siding; Metal roof; Manufactured construction
• Exterior features: Covered porch and front porch; Deck; Storage shed(s); Fenced front and back yard; Wooded lot with views; Publicly maintained access roads (dirt, gravel, and paved surfaces)

Interior

• Kitchen: Electric range
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: No central heating; Window air conditioning units
• Interior features: Open floorplan; Split bedroom layout; 5 total rooms
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (7.5% below list).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.1% in Charlotte — 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 78/100 on livability (#26 in NC, #2,502 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Lancaster 01 (rural): math 41% / reading 47% proficiency, ranked #26 of 80 in SC (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harrisburg Elementary (math 69% / reading 66%, grade B+, #44 of 597 statewide, top 7%, 1,089 students, 20% FRL); Indian Land High (math 52% / reading 91%, grade B+, #53 of 196 statewide, top 27%, 1,678 students, 26% FRL) — zoned schools average 23% FRL vs 47% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 44% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Lancaster 01 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.5%/yr); 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 976 units permitted in Lancaster County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lancaster County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 416 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% 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 $180,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 416 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.92% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-15,485
• Equity at exit: $30,566

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $6,433
• Equity at exit: $17,725

Cash invested: $57,400 (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 29707

• Home prices YoY: -23.8%
• Rents YoY: 2.5%
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$43 /mo · $510/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $295

Break-even live

Break-even rent $1,523

Max offer price $205,000

Occupancy floor 79%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1241 Columbia Cir Fort Mill, SC	1.0–3.0	1.0–2.5	1456	$2,347	$1.61	1d	26	0.97mi
2278 Capital Club Way Fort Mill, SC	3.0	2.5	1204	$2,081	$1.73	1d	25	1.07mi
2545 Jessamine Grove Dr Indian Land, SC	2.0	2.0	1071	$2,420	$2.26	1d	6	1.28mi
12600 District South Dr Charlotte, NC	1.0–3.0	1.0–2.0	1099	$1,968	$1.79	1d	19	1.36mi
12315 Bluestem Ln Charlotte, NC	2.0	2.5	1118	$1,725	$1.54	24d	1	1.44mi
12311 Bluestem Ln Charlotte, NC	2.0	1.5	982	$1,395	$1.42	22d	1	1.44mi
15510 Asterwind Ct #15510 Charlotte, NC	2.0	2.5	1100	$1,700	$1.55	24d	1	1.45mi
15708 Greythorne Dr Charlotte, NC	1.0–3.0	1.0–2.0	1110	$1,900	$1.71	2d	21	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $205,000 Active 416 DOM
2. 2026-06-17
   days on market $205,000 Active 415 DOM
3. 2026-06-16
   days on market $205,000 Active 414 DOM
4. 2026-06-15
   days on market $205,000 Active 413 DOM
5. 2026-06-13
   days on market $205,000 Active 411 DOM
6. 2026-06-09
   days on market $205,000 Active 407 DOM
7. 2026-06-08
   days on market $205,000 Active 406 DOM
8. 2026-06-07
   days on market $205,000 Active 405 DOM
9. 2026-06-04
   days on market $205,000 Active 402 DOM
10. 2026-06-03
    days on market $205,000 Active 401 DOM
11. 2026-06-02
    days on market $205,000 Active 400 DOM
12. 2026-06-01
    days on market $205,000 Active 399 DOM
13. 2026-05-31
    days on market $205,000 Active 398 DOM
14. 2025-08-14
    listed $205,000 Active 1578-char remark

    Show marketing remark (1578 chars)

    Here is your chance to purchase a property with so much potential with a lot just right under 2 acres in Indian Land (1.92 acres). Located in a market that is still on the rise and within a close proximity of well-established subdivisions you can have the enjoyment of no HOA restrictions being located outside of these developments. The existing structure does require some remodeling and repair but still leaves room for a reasonable budget for renovating and getting this manufactured home back in proper condition. The primary bedroom bath has been removed but is currently converted into an open closet area. There is also an opportunity for someone looking to do a complete rebuild and possibly a sub dividable lot within a high demand area. Making note only site built & modular homes can be constructed if pre-existing manufacture home is demoed and not plan to rebuilt within a 6 month period. Lancaster Zoning confirmed that a new manufactured home could be grandfathered if it is built within 6 month period. Current owner will have to provide 6 months of active utility bills to get this granted. The MDR zoning for our subject allows for property to be subdivided with a minimum lot size of 10,000 sq ft per lot. The Lancaster zoning confirmed it is possible that a potential of 4-5 lots could potentially go on this property if it could be confirmed for sewer and water requirements for each lot to pass inspections. Just minutes away from Ballantyne as the property is near the SC/Charlotte NC border. Agent, please review agent remarks for pertinent details.

15. 2025-04-28
    listed $205,000 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: $510 · $43/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$1,171/yr (+$98/mo · 229.4%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,754
• − Mortgage interest: −$11,483
• − Property taxes: −$510
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$5,964
• Taxable income: $131
• Est. tax owed @ 24.0%: −$31
• After-tax cash flow: $3,508/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: Lancaster 01
• NCES district ID: 4502580
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $44,165
• Composite: 37.23/100
• National rank: #4462
• State rank: #26 of 80 in SC

Livability — Charlotte

• Score: 78/100
• State rank: #26
• US rank: #2502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lancaster County
• City population: 920,422
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 37,629
• Household income: $118,295
• Rent vs Own: 9.6% rent · 90.4% own
• Severe rent burden: 273.0

Population outlook (Lancaster County) Hauer SSP2

• Today (2025): 105,572 people
• By 2030: 114,865 · +8.8%
• By 2040: 132,268 · +25.3%
• By 2050: 148,252 · +40.4%
• By 2075: 182,540 · +72.9%
• By 2100: 202,237 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 10% Hispanic / Latino 8% Two or more races 6% Asian 6%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Romanian 6% Slovak 3% Serbian 2%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 7% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · Lancaster

• 2024 margin: Strong R (+24.8) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -9.9pp toward R · 2008: -14.9pp · 2024: -24.8pp
• All cycles: 2024: R+24.8 2020: R+22.8 2016: R+25.5 2012: R+18.0 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.64%
• Current HPI: 268.0255
• Rent YoY: ▲ 2.50%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+0.0% since first listed

2 events — show timeline

• 2025-08-14 Listed $205,000 CANOPYMLS as Distributed by MLS Grid
• 2025-04-28 Listed $205,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $510 · +12.9% YoY. Source: county tax records.