80 Spruce Ct · Rougemont, NC 27583

$175,000

4 bd · 2.0 ba · 1,464 sqft · Manufactured public records · 14 Days on market

Built 1988 0.92 ac lot Est $218k · 20% under

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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 +22.3/30.0
• ARV discount +15.0/15.0
• Appreciation +9.3/10.0
• DSCR +7.1/10.0
• 1% rule +4.5/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks

Welcome to this 4-bedroom, 2-bathroom manufactured home situated on nearly an Acre lot in the convenient, yet rural community of Timberlake, NC. The generous lot size provides ample outdoor space and opportunities for landscaping, recreation, or future expansion. New light fixtures, switches, outlets, carpet and luxury vinyl flooring throughout were updated last year, along with the owner's suite's shower / bath tub. Newer Trane HVAC heat pump was also recently installed. 46' x 12' Oversized back deck has aged a little and is currently unsafe to walk on as it is in need of repairs. Fenced in backyard with lots of shady mature hardwoods offers a great place to relax or entertain! Please do

Key facts

• Future expansion
• New light fixtures
• Acre lot

Tags

• ACRE LOT
• OUTDOOR SPACE
• LANDSCAPING OPPORTUNITIES
• RECREATION OPPORTUNITIES
• FUTURE EXPANSION
• NEW LIGHT FIXTURES

Property features AI

Finance

• Other: Lot size approximately 0.92 acre; Living area listed as 1,410
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: Shared well water; Septic tank
• Home design: Manufactured double-wide home; One story
• Construction: Brick construction; Shingle roof
• Exterior features: Deck; Back yard with chain-link fence; Private gravel road frontage; Private maintained road

Interior

• Kitchen: Electric range; Free-standing range; Range hood; Refrigerator
• Bedrooms: 4 bedrooms (all on the main level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air (heat pump)
• Interior features: Breakfast bar; Laminate counters; Gas log fireplace (propane)
• Laundry & utility: Indoor laundry room; Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/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 $166k (4.9% below list).
• Recommended offer: $166k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 2.3% in Rougemont — 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 48/100 on livability (#717 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools D+, amenities F, commute F.
• Person County Schools (rural): math 39% / reading 42% proficiency, ranked #110 of 178 in NC (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 113 units permitted in Person County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (8.7% local appreciation)).
• Person County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.7% appreciation + 3.0% rent growth), your $49k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $47k; list at $175k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,468 (4.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.95% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $218,136
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Spruce Ct	0.18mi	3/2.0 (-1)	1,473 (+1%)	1mo	$220,000	$149	84

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

Projected returns pro-forma

8.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.99×
• Total profit: $97,573
• Equity at exit: $140,727

10-year hold

• IRR: 23.7%
• Equity multiple: 6.51×
• Total profit: $269,949
• Equity at exit: $287,103

Cash invested: $49,000 (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 27583

• Home prices YoY: 3.0%
• Active inventory: 38
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $287

Break-even live

Break-even rent $1,302

Max offer price $175,000

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $175,000 Active 14 DOM
2. 2026-06-17
   days on market $175,000 Active 13 DOM
3. 2026-06-16
   days on market $175,000 Active 12 DOM
4. 2026-06-16
   price $175,000 Active 11 DOM
5. 2026-06-15
   days on market $185,000 Active 11 DOM
6. 2026-06-13
   days on market $185,000 Active 9 DOM
7. 2026-06-12
   days on market $185,000 Active 8 DOM
8. 2026-06-09
   days on market $185,000 Active 5 DOM
9. 2026-06-08
   days on market $185,000 Active 4 DOM
10. 2026-06-07
    days on market $185,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $185,000 Active 1 DOM

ⓘ 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: $453 · $38/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$982/yr (+$82/mo · 216.7%)

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,976
• − Mortgage interest: −$9,803
• − Property taxes: −$453
• − Insurance: −$875
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$5,091
• Taxable income: $558
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $3,306/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: Person County Schools
• NCES district ID: 3703630
• Math proficiency: 39% ▬ 0.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $43,729
• Composite: 34.3/100
• National rank: #5242
• State rank: #110 of 178 in NC

Livability — Rougemont

• Score: 48/100
• State rank: #717
• US rank: #26120

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,633

Population outlook (Person County) Hauer SSP2

• Today (2025): 38,577 people
• By 2030: 37,847 · -1.9%
• By 2040: 35,740 · -7.4%
• By 2050: 32,683 · -15.3%
• By 2075: 24,979 · -35.2%
• By 2100: 15,779 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 9% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Serbian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Person

• 2024 margin: Strong R (+23.7) · D 37.7% · R 61.4%
• 2008→2024 swing: -15.2pp toward R · 2008: -8.5pp · 2024: -23.7pp
• All cycles: 2024: R+23.7 2020: R+21.6 2016: R+17.3 2012: R+11.0 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.65%
• Current HPI: 301.7122
• 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

+290.9% since first listed

2 events — show timeline

• 2026-06-03 Listed $185,000 TMLS
• 1994-05-12 Sold (Public Records) $47,324 Public Records

Property tax history

-1.6%/yr

Latest (2024): $453 · +0.0% YoY. Source: county tax records.