205 Granite Dr · Lucama, NC 27851

$100,000

3 bd · 2.0 ba · 1,826 sqft · Manufactured public records

Built 2007 0.52 ac lot Est $99k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.7/10.0
• ARV discount +6.9/15.0
• Appreciation +6.9/10.0
• Schools +3.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Double wide on half an acre in Lucama. Lots of room in this open-floor-plan home. Great Room with fireplace, Formal Dining Area, Kitchen, and Den along with 3 Bedrooms and 2 Baths.

Key facts

• 0.52 acre lot
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 57/100 on livability (#599 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Wilson County Schools (rural): math 38% / reading 40% proficiency, ranked #119 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lucama Elementary (math 62% / reading 52%, grade C+, #249 of 1,410 statewide, top 20%, 362 students, 99% FRL); Springfield Middle (math 49% / reading 57%, grade C+, #93 of 475 statewide, top 19%, 445 students, 56% FRL); James Hunt High (math 67% / reading 58%, grade B-, #179 of 535 statewide, top 34%, 1,069 students, 60% FRL).
• Zoned-school proficiency averages 58% at this address vs 39% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Wilson County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 16 active listings in the ZIP; 580 units permitted in Wilson County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($691 loan paydown + $4k appreciation (3.8% local appreciation)).
• Wilson County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $100,000

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. 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?
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: 1.27% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $98,604
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Granite Dr	0.00mi	3/2.0	1,862 (+2%)	0mo	$100,000	$54	96

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

Projected returns pro-forma

3.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.28×
• Total profit: $35,832
• Equity at exit: $49,672

10-year hold

• IRR: 22.0%
• Equity multiple: 4.40×
• Total profit: $95,225
• Equity at exit: $80,432

Cash invested: $28,000 (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 27851

• Home prices YoY: 1.6%
• Active inventory: 16
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$134 /mo · $1,613/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $304

Break-even live

Break-even rent $887

Max offer price $100,000

Occupancy floor 71%

Sensitivity live

Price	-10% $360	-5% $332	+0% $304	+5% $275	+10% $247
Rent	-10% $203	-5% $253	+0% $304	+5% $354	+10% $404
Rate	-1.0pp $354	-0.5pp $329	base $304	+0.5pp $278	+1.0pp $251

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-03
   remarks 180-char remark
2. 2026-06-03
   listed $100,000 Pending

ⓘ 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: $1,613 · $134/mo
• Projected year-2 tax: $1,613 · $134/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $15,251
• − Mortgage interest: −$5,602
• − Property taxes: −$1,613
• − Insurance: −$500
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$2,909
• Taxable income: $2,188
• Est. tax owed @ 24.0%: −$525
• After-tax cash flow: $3,118/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: Wilson County Schools
• NCES district ID: 3705020
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $39,342
• Composite: 32.64/100
• National rank: #5665
• State rank: #119 of 178 in NC

Livability — Lucama

• Score: 57/100
• State rank: #599
• US rank: #21804

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

• Census place: Lucama, NC
• Population (ZIP): 5,366

Population outlook (Wilson County) Hauer SSP2

• Today (2025): 82,765 people
• By 2030: 82,492 · -0.3%
• By 2040: 81,054 · -2.1%
• By 2050: 78,610 · -5.0%
• By 2075: 71,865 · -13.2%
• By 2100: 62,792 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 23% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 1% German 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Wilson

• 2024 margin: Toss-up / Even · D 49.8% · R 49.4%
• 2008→2024 swing: -5.7pp toward R · 2008: 6.1pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+2.9 2016: D+5.6 2012: D+7.3 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.82%
• Current HPI: 239.7454
• 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

• 2026-06-02 Listing Removed — Hive MLS
• 2026-06-01 Listed $100,000 Hive MLS

Property tax history

+2.8%/yr

Latest (2025): $1,613 · +66.7% YoY. Source: county tax records.