220 Mt Harmony Church Rd · Polkville, NC 28090

$239,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 52 Days on market

Built 2000 1.90 ac lot ↓ 20% since listing

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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 +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +4.0/10.0
• 1% rule +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tons of potential with this 5+ acre parcel in tranquil rural setting in Lawndale. Property features a 3 bedroom 2 bath manufactured home w/wood-burning fireplace, spacious eat-in kitchen w/island, mudroom/laundry and huge covered front porch. Several large rooms have been added onto the home, including a walk-in cold storage. Areas are fully insulated, wired & climate-controlled with mini-splits and just need the finishing touches. Stocked spring-fed pond w/covered pier for hours of fishing enjoyment or just observing the wildlife. Several areas of cleared pasture and clear-cut trail down to the back of the lot.

Key facts

• Walk-in cold storage
• Covered pier
• 1.9 acre lot

Tags

• WOOD-BURNING FIREPLACE
• SPACIOUS EAT-IN KITCHEN
• HUGE COVERED FRONT PORCH
• WALK-IN COLD STORAGE
• STOCKED SPRING-FED POND
• COVERED PIER

Property features AI

Finance

• Other: Subject to restrictive covenants (Duncan Acres) — see provided covenants for details
• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Public water; Septic system installed; Electricity connected
• Home design: Manufactured doublewide single-family residence; One story; Completed development
• Construction: Manufactured construction; Metal and vinyl exterior materials; Metal roof; Crawl space foundation; Built as a manufactured home
• Exterior features: Covered front porch; Level lot with wooded areas and pond(s); Publicly maintained road access; Driveway access; Road surface is gravel and paved

Interior

• Kitchen: Electric range; Exhaust hood; Dishwasher; Refrigerator; Freezer
• Bedrooms: Three bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Ductless heat pump system; Electric heating and cooling
• Interior features: Kitchen island; 9 total rooms; Wood-burning fireplace in the living room
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $61 ($734/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 $188k (21.5% below list).
• Recommended offer: $188k (21.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#660 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union Elementary (math 42% / reading 37%, grade F, #694 of 1,410 statewide, top 53%, 423 students, 80% FRL); Burns Middle (math 53% / reading 54%, grade C+, #87 of 475 statewide, top 19%, 734 students, 70% FRL); Burns High (math 42% / reading 59%, grade D+, #306 of 535 statewide, top 57%, 934 students, 60% FRL).
• Market conditions: 39 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($232k) 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: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,504 (21.5% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.78% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 10.6

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-34,946
• Equity at exit: $35,636

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-25,877
• Equity at exit: $20,664

Cash invested: $66,920 (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 28090

• Home prices YoY: -3.4%
• Active inventory: 39
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,875 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $61

Break-even live

Break-even rent $1,798

Max offer price $239,000

Occupancy floor 92%

Sensitivity live

Price	-10% $196	-5% $129	+0% $61	+5% $-6	+10% $-74
Rent	-10% $-87	-5% $-13	+0% $61	+5% $135	+10% $209
Rate	-1.0pp $182	-0.5pp $122	base $61	+0.5pp $-1	+1.0pp $-64

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $239,000 Active 52 DOM
2. 2026-06-19
   days on market $239,000 Active 50 DOM
3. 2026-06-18
   days on market $239,000 Active 49 DOM
4. 2026-06-17
   days on market $239,000 Active 48 DOM
5. 2026-06-16
   days on market $239,000 Active 47 DOM
6. 2026-06-15
   days on market $239,000 Active 46 DOM
7. 2026-06-14
   days on market $239,000 Active 44 DOM
8. 2026-06-13
   days on market $239,000 Active 43 DOM
9. 2026-06-10
   days on market $239,000 Active 41 DOM
10. 2026-06-09
    days on market $239,000 Active 40 DOM
11. 2026-06-08
    days on market $239,000 Active 39 DOM
12. 2026-06-07
    days on market $239,000 Active 38 DOM
13. 2026-06-05
    days on market $239,000 Active 35 DOM
14. 2026-06-03
    days on market $239,000 Active 34 DOM
15. 2026-06-02
    days on market $239,000 Active 33 DOM
16. 2026-06-01
    days on market $239,000 Active 32 DOM
17. 2026-05-31
    days on market $239,000 Active 31 DOM
18. 2026-05-30
    days on market $239,000 Active 30 DOM
19. 2026-05-21
    price $259,000 628-char remark

    Show marketing remark (628 chars)

    Tons of potential with this 5+ acre parcel in tranquil rural setting in Lawndale. Property features a 3 bedroom 2 bath manufactured home w/wood-burning fireplace, spacious eat-in kitchen w/island, mudroom/laundry and huge covered front porch. Several large rooms have been added onto the home, including a walk-in cold storage. Areas are fully insulated, wired & climate-controlled with mini-splits and just need the finishing touches. Stocked spring-fed pond w/covered pier for hours of fishing enjoyment or just observing the wildlife. Several areas of cleared pasture and clear-cut trail down to the back of the lot.

20. 2026-04-29
    listed $239,000 Active
21. 2026-04-21
    price $299,000 628-char remark

    Show marketing remark (628 chars)

    Tons of potential with this 5+ acre parcel in tranquil rural setting in Lawndale. Property features a 3 bedroom 2 bath manufactured home w/wood-burning fireplace, spacious eat-in kitchen w/island, mudroom/laundry and huge covered front porch. Several large rooms have been added onto the home, including a walk-in cold storage. Areas are fully insulated, wired & climate-controlled with mini-splits and just need the finishing touches. Stocked spring-fed pond w/covered pier for hours of fishing enjoyment or just observing the wildlife. Several areas of cleared pasture and clear-cut trail down to the back of the lot.

22. 2026-03-23
    listed $325,000 Active 628-char remark

    Show marketing remark (628 chars)

    Tons of potential with this 5+ acre parcel in tranquil rural setting in Lawndale. Property features a 3 bedroom 2 bath manufactured home w/wood-burning fireplace, spacious eat-in kitchen w/island, mudroom/laundry and huge covered front porch. Several large rooms have been added onto the home, including a walk-in cold storage. Areas are fully insulated, wired & climate-controlled with mini-splits and just need the finishing touches. Stocked spring-fed pond w/covered pier for hours of fishing enjoyment or just observing the wildlife. Several areas of cleared pasture and clear-cut trail down to the back of the lot.

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$1,154/yr (+$96/mo · 143.1%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,500
• − Mortgage interest: −$13,388
• − Property taxes: −$806
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$6,953
• Taxable loss: −$3,441
• Est. tax savings @ 24.0%: +$826
• After-tax cash flow: $1,560/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Polkville

• Score: 55/100
• State rank: #660
• US rank: #23688

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 92
• Population (ZIP): 7,422

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 12% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.65%
• Current HPI: 335.97
• 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

-20.3% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $259,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-29 Listed $239,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-21 Price Changed $299,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-23 Listed $325,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.1%/yr

Latest (2025): $806 · +29.9% YoY. Source: county tax records.