97 Lewis St · Wadesboro, NC 28170

$139,000

2 bd · 1.0 ba · 1,106 sqft · SingleFamily public records · 4 Days on market

Built 1950 0.29 ac lot Est $179k · 22% 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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +6.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks

Opportunity awaits at 97 Lewis Street in Wadesboro. This brick ranch offers 2 bedrooms, 1 full bath, a covered front porch, carport, and a spacious lot. Property is being sold as-is and will require repairs and updates. Ideal for investors, flippers, or buyers looking to renovate and build equity. Cash purchase only. Buyer to verify all information including square footage, schools, zoning, and permitted uses.

Key facts

• Covered front porch
• Spacious lot
• 0.29 acre lot

Tags

• COVERED FRONT PORCH
• SPACIOUS LOT

Property features AI

Exterior

• Parking: Covered off-street parking
• Utilities: Utilities: see remarks
• Home design: Single-family residence; One story, entry level on main floor
• Construction: Brick veneer and vinyl siding over frame construction; Shingle roof; See remarks for foundation details; Built as a single-level home
• Exterior features: Front porch; Paved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Crawl space basement; Has a view; Seven total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 10.2% 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-, crime F, amenities 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.
• Zoned schools: Lilesville Elementary (math 17% / reading 37%, grade F, #1,033 of 1,410 statewide, top 76%, 215 students, 99% FRL); Anson Middle (math 16% / reading 31%, grade F, #402 of 475 statewide, top 85%, 701 students, 100% FRL); Anson High School (math 22% / reading 22%, grade F, #484 of 535 statewide, top 91%, 655 students, 98% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $15k of equity ($961 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $57k; list at $139k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 48% 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 $139,000

Questions for the listing agent

1. Built in 1950 — 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: 1.16% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.11%
• DSCR: 1.63
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $179,172
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
180 NC 742 Hwy	0.10mi	2/2.0	1,152 (+4%)	6mo	$209,000	$181	79
117 Harley St	0.15mi	3/1.5 (+1)	1,048 (-5%)	15mo	$180,000	$172	64
115 Solomon St	0.07mi	3/2.0 (+1)	1,232 (+11%)	6mo	$197,999	$161	64
74 Harley St	0.09mi	3/2.0 (+1)	1,232 (+11%)	6mo	$199,900	$162	63
109 Harley St	0.15mi	3/1.5 (+1)	1,048 (-5%)	19mo	$195,000	$186	62
42 Solomon St	0.08mi	3/2.0 (+1)	1,232 (+11%)	9mo	$189,000	$153	61
1171 Salisbury St	0.42mi	3/2.0 (+1)	1,090 (-1%)	9mo	$187,000	$172	61
39 Solomon St	0.08mi	3/2.0 (+1)	1,232 (+11%)	13mo	$190,000	$154	58
53 Soloman St	0.08mi	3/2.0 (+1)	1,232 (+11%)	13mo	$196,349	$159	57
480 Us Hwy 52 Hwy N	0.06mi	3/2.0 (+1)	1,000 (-10%)	19mo	$168,000	$168	56
103 Harley St	0.11mi	3/2.0 (+1)	1,232 (+11%)	13mo	$189,999	$154	56
952 Salisbury St	0.63mi	2/1.0	1,194 (+8%)	10mo	$160,900	$135	50

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: 34.7%
• Equity multiple: 3.69×
• Total profit: $104,779
• Equity at exit: $125,222

10-year hold

• IRR: 29.8%
• Equity multiple: 8.34×
• Total profit: $285,521
• Equity at exit: $270,046

Cash invested: $38,920 (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 28170

• Home prices YoY: 5.8%
• Active inventory: 87
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$34 /mo · $410/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $457

Break-even live

Break-even rent $1,039

Max offer price $139,000

Occupancy floor 67%

Sensitivity live

Price	-10% $536	-5% $497	+0% $457	+5% $418	+10% $379
Rent	-10% $330	-5% $394	+0% $457	+5% $521	+10% $585
Rate	-1.0pp $527	-0.5pp $493	base $457	+0.5pp $421	+1.0pp $385

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $139,000 Active 4 DOM
2. 2026-06-18
   days on market $139,000 Active 2 DOM
3. 2026-06-17
   remarks 413-char remark
4. 2026-06-17
   listed $139,000 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: $410 · $34/mo
• Projected year-2 tax: $1,140 · $95/mo
• Expected delta: +$729/yr (+$61/mo · 177.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% 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: $19,421
• − Mortgage interest: −$7,786
• − Property taxes: −$410
• − Insurance: −$695
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$4,044
• Taxable income: $3,378
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $4,679/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

• 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

+143.9% since first listed

2 events — show timeline

• 2026-06-16 Listed $139,000 Hive MLS
• 2005-07-18 Sold (Public Records) $57,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $410 · +0.0% YoY. Source: county tax records.