22480 Patricia St · Wagram, NC 28352

$139,900

2 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 251 Days on market

Built 1947 0.68 ac 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
• DSCR +4.6/10.0
• 1% rule +2.9/10.0
• 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

LOOKING FOR A NICE HOME IN THE COUNTRY WITH NO CITY TAXES IT'S HERE! 3 BEDROOMS, 2 BATHS, LIVING ROOM, DINING ROOM, KITCHEN W/ STOVE. THERE'S A SUN ROOM, COVERED FRONT PORCH AND DETACHED STORAGE BUILDING ALL SITTING ON A LARGE LOT WITH EXTRA ROOM FOR A GARDEN. IT'S CONNECTED TO COUNTY WATER AND HAS A WELL BUT WILL NEED A PUMP. SEPTIC TANK IS LOCATED IN THE FRONT YARD SO EVEN A POOL COULD BE ADDED IN THE BACK YARD. THE PROPERTY IS FENCED BUT WILL NEED SOME REPAIR FROM A TREE FALLING ON A PORTION OF IT. BRICK AND VINYL TRIM FOR LOW MAINTENANCE, ALSL HAS DOUBLE PANE WINDOWS. PROPERTY HAS BEEN TREATED FOR TERMITES AND POWDER POST BEATTLES ON MARCH 5, 2026. IT HAS A CONTRACT ON IT NOW AND IS T

Key facts

• Covered front porch
• Sun room
• Large lot

Tags

• SUN ROOM
• COVERED FRONT PORCH
• DETACHED STORAGE BUILDING
• LARGE LOT
• EXTRA ROOM FOR A GARDEN
• CONNECTED TO COUNTY WATER

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Carport with 2 spaces; Unpaved parking
• Utilities: Public water; Water connected; Septic tank sewer
• Home design: Single-family residence; One level; Residential property
• Construction: Brick and vinyl siding exterior; Shingle roof; Crawl space foundation; Built with additional details in remarks
• Exterior features: Covered porch; Porch; Chain link fencing; Shed(s) / storage; Has a view

Interior

• Kitchen: Range; Electric water heater
• Bedrooms: Total of 7 rooms (includes bedrooms and other rooms)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning; Heat pump cooling
• Interior features: Walk-in closets; Ceiling fans
• Laundry & utility: Washer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $44 ($531/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 $111k (20.8% below list).
• Recommended offer: $111k (20.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#624 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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: Wagram Elementary (math 17% / reading 23%, grade F, #1,233 of 1,410 statewide, top 88%, 501 students, 99% FRL); Spring Hill Middle (math 25% / reading 29%, grade F, #374 of 475 statewide, top 80%, 643 students, 99% FRL); Scotland High School (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,445 students, 98% FRL) — zoned schools average 99% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $967 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 251 days — a 12% lower offer ($123k) 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

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,813 (20.8% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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. 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: 0.79% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.36%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-19,917
• Equity at exit: $20,860

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-13,983
• Equity at exit: $12,096

Cash invested: $39,172 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $44

Break-even live

Break-even rent $1,052

Max offer price $139,900

Occupancy floor 91%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $139,900 Active 251 DOM
2. 2026-06-17
   days on market $139,900 Active 250 DOM
3. 2026-06-16
   days on market $139,900 Active 249 DOM
4. 2026-06-15
   days on market $139,900 Active 248 DOM
5. 2026-06-14
   days on market $139,900 Active 246 DOM
6. 2026-06-13
   days on market $139,900 Active 245 DOM
7. 2026-06-10
   days on market $139,900 Active 243 DOM
8. 2026-06-09
   days on market $139,900 Active 242 DOM
9. 2026-06-08
   days on market $139,900 Active 241 DOM
10. 2026-06-07
    days on market $139,900 Active 240 DOM
11. 2026-06-05
    days on market $139,900 Active 237 DOM
12. 2026-06-03
    days on market $139,900 Active 236 DOM
13. 2026-06-02
    days on market $139,900 Active 235 DOM
14. 2026-06-01
    days on market $139,900 Active 234 DOM
15. 2026-05-31
    days on market $139,900 Active 233 DOM
16. 2026-05-30
    days on market $139,900 Active 232 DOM
17. 2026-02-18
    status Active
18. 2026-01-29
    historical Active Under Contract
19. 2025-10-10
    listed $143,900 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: $470 · $39/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$677/yr (+$56/mo · 143.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $13,298
• − Mortgage interest: −$7,837
• − Property taxes: −$470
• − Insurance: −$700
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$4,070
• Taxable loss: −$1,906
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $989/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 — Wagram

• Score: 56/100
• State rank: #624
• US rank: #22665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

3 events — show timeline

• 2026-02-18 Relisted — Hive MLS
• 2026-01-29 Contingent — Hive MLS
• 2025-10-10 Listed $143,900 Hive MLS

Property tax history

+5.0%/yr

Latest (2025): $470 · +3.1% YoY. Source: county tax records.