204 E Hargrave St · Wadesboro, NC 28170

$150,000

2 bd · 1.0 ba · 759 sqft · SingleFamily public records · 13 Days on market

Built 1948 0.80 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 +22.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +4.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks MLS

Well maintained Cottage Style 840 sf with open feeling. Walk-in from covered porch to living room with cozy fireplace opening into dining room & kitchen. All appliances remaining in the kitchen. Small hallway off to two bedrooms & bath. This was not a rental house at less since 2015. Seller knows Everything is Working since she just moved out. Central Gas Pack heat & AC was new in 2016. Standing Seam Metal Roof with covered front porch. Utility room with washer/dryer hookups serves as laundry room & pantry. City water, sewer & trash pickup is running around $70/month. Duke Power fpr AC or NC Natural Gas when needed runs about a $100 more in the peak of winter or summer. Current Property Taxes are $565/Year! Very close to IGA Grocery & gas stations. Walking to Wadesboro Town ParK is just around the corner. Picnic tables, walking trail & restrooms. Ansonia Live Theatre, Street Parades & Festivals. Just 2.5 hours to NC Beaches & Mountains for the week-end.

Key facts

• Front porch
• Back deck
• 0.8 acre lot

Tags

• EASY ACCESS TO LOCAL SHOPS
• SEPARATE LAUNDRY ROOM
• FRONT PORCH
• BACK DECK
• PRIVACY-FENCED BACKYARD

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking; 2 open parking spaces
• Utilities: City water; Public sewer; Electricity connected
• Home design: Single-family residence; One story; Site-built construction
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Lot includes paved and dirt road frontage; Publicly maintained road

Interior

• Kitchen: Electric range; Refrigerator; Gas water heater
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: 5 rooms total; Living room fireplace
• Laundry & utility: Laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $254 ($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 $146k (2.8% below list).
• Recommended offer: $146k (2.8% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 6.2% in Wadesboro — 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 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 55 units permitted in Anson 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)).
• Anson County population projected at -24% 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y ago 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 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 52% 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 $145,814 (2.8% below list)

Questions for the listing agent

1. Built in 1948 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.25%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $69,828
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
145 W Burnsville St	0.18mi	1/1.0 (-1)	864 (+14%)	1mo	$79,900	$92	63

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: 29.5%
• Equity multiple: 3.33×
• Total profit: $97,783
• Equity at exit: $135,132

10-year hold

• IRR: 25.6%
• Equity multiple: 7.55×
• Total profit: $275,127
• 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 28170

• Home prices YoY: 5.8%
• Active inventory: 87
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,458 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$49 /mo · $591/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $254

Break-even live

Break-even rent $1,137

Max offer price $150,000

Occupancy floor 78%

Sensitivity live

Price	-10% $339	-5% $296	+0% $254	+5% $211	+10% $169
Rent	-10% $138	-5% $196	+0% $254	+5% $311	+10% $369
Rate	-1.0pp $329	-0.5pp $292	base $254	+0.5pp $215	+1.0pp $175

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 10 events

1. 2026-06-21
   days on market $150,000 Active 13 DOM
2. 2026-06-18
   days on market $150,000 Active 11 DOM
3. 2026-06-17
   days on market $150,000 Active 10 DOM
4. 2026-06-16
   days on market $150,000 Active 9 DOM
5. 2026-06-15
   days on market $150,000 Active 8 DOM
6. 2026-06-13
   days on market $150,000 Active 6 DOM
7. 2026-06-12
   days on market $150,000 Active 5 DOM
8. 2026-06-09
   days on market $150,000 Active 2 DOM
9. 2026-06-07
   remarks 479-char remark
10. 2026-06-07
    listed $150,000 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: $591 · $49/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$639/yr (+$53/mo · 108.3%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,498
• − Mortgage interest: −$8,402
• − Property taxes: −$591
• − Insurance: −$750
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$4,364
• Taxable income: $591
• Est. tax owed @ 24.0%: −$142
• After-tax cash flow: $2,901/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: Anson County Schools
• NCES district ID: 3700180
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,961
• Composite: 21.41/100
• National rank: #8348
• State rank: #159 of 178 in NC

Livability — Wadesboro

• Score: 41/100
• State rank: #728
• US rank: #27112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadesboro, NC
• Population (ZIP): 9,595

Population outlook (Anson County) Hauer SSP2

• Today (2025): 23,572 people
• By 2030: 22,384 · -5.0%
• By 2040: 19,976 · -15.3%
• By 2050: 17,803 · -24.5%
• By 2075: 13,839 · -41.3%
• By 2100: 10,890 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 38% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Russian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Anson

• 2024 margin: Toss-up / Even · D 48.4% · R 50.9%
• 2008→2024 swing: -23.5pp toward R · 2008: 20.9pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+4.2 2016: D+12.6 2012: D+25.0 2008: D+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.62%
• Current HPI: 228.7798
• 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

+219.1% since first listed

14 events — show timeline

• 2026-06-07 Listed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2023-10-25 Sold (Public Records) $135,000 Public Records
• 2023-10-24 Sold (MLS) $135,000 CANOPYMLS as Distributed by MLS Grid
• 2023-09-19 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-09-13 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2015-09-08 Sold (MLS) $32,000 CANOPYMLS as Distributed by MLS Grid
• 2015-08-24 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2014-11-24 Price Changed $39,900 CANOPYMLS as Distributed by MLS Grid
• 2014-09-05 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2014-09-03 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2013-10-24 Price Changed $43,500 CANOPYMLS as Distributed by MLS Grid
• 2013-08-29 Price Changed $46,500 CANOPYMLS as Distributed by MLS Grid
• 2013-08-19 Listed $49,900 CANOPYMLS as Distributed by MLS Grid
• 2005-06-29 Sold (Public Records) $47,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $591 · +4.5% YoY. Source: county tax records.