97 Lewis St · Wadesboro, NC 28170

$123,900

2 bd · 1.0 ba · 1,106 sqft · SingleFamily public records · 53 Days on market

Built 1950 Fair condition 0.29 ac lot $112/sqft · 29% below area Est $199k · 38% under

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Why this score? — see what drove the A- 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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.2/10.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• 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

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $124k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $120k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 5.7% 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: 98 active listings in the ZIP; lower-income renter base — watch delinquency; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($857 loan paydown + $12k 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 $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $124k implies a 117% 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 $120,183 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.85%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (median comp): $198,614
• List price: $123,900
• Delta: -37.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

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%)	8mo	$209,000	$181	77
117 Harley St	0.15mi	3/1.5 (+1)	1,048 (-5%)	17mo	$180,000	$172	63
115 Solomon St	0.07mi	3/2.0 (+1)	1,232 (+11%)	8mo	$197,999	$161	63
74 Harley St	0.09mi	3/2.0 (+1)	1,232 (+11%)	8mo	$199,900	$162	62
109 Harley St	0.15mi	3/1.5 (+1)	1,048 (-5%)	20mo	$195,000	$186	60
48 Solomon St	0.08mi	3/2.0 (+1)	1,232 (+11%)	10mo	$189,900	$154	60
42 Solomon St	0.08mi	3/2.0 (+1)	1,232 (+11%)	10mo	$189,000	$153	60
1171 Salisbury St	0.42mi	3/2.0 (+1)	1,090 (-1%)	11mo	$187,000	$172	60
39 Solomon St	0.08mi	3/2.0 (+1)	1,232 (+11%)	15mo	$190,000	$154	56
53 Soloman St	0.08mi	3/2.0 (+1)	1,232 (+11%)	15mo	$196,349	$159	56
103 Harley St	0.11mi	3/2.0 (+1)	1,232 (+11%)	15mo	$189,999	$154	54
952 Salisbury St	0.63mi	2/1.0	1,194 (+8%)	11mo	$160,900	$135	48

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: 36.0%
• Equity multiple: 3.78×
• Total profit: $96,615
• Equity at exit: $111,619

10-year hold

• IRR: 31.0%
• Equity multiple: 8.54×
• Total profit: $261,460
• Equity at exit: $240,710

Cash invested: $34,692 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28170

• Home prices YoY: 5.8%
• Active inventory: 98
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,511 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$34 /mo · $410/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $458

Break-even live

Break-even rent $931

Max offer price $123,900

Occupancy floor 65%

Sensitivity live

Price	-10% $528	-5% $493	+0% $458	+5% $423	+10% $388
Rent	-10% $339	-5% $399	+0% $458	+5% $518	+10% $578
Rate	-1.0pp $521	-0.5pp $490	base $458	+0.5pp $426	+1.0pp $393

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: $30,975
• Closing costs: $3,717
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: Covered off-street parking
• Utilities: Utilities: see remarks
• Home design: Single-family residenceOne story, entry level on main floor
• Construction: Brick veneer and vinyl siding over frame constructionShingle roofSee remarks for foundation detailsBuilt as a single-level home
• Exterior features: Front porchPaved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioningElectric forced-air heating
• Interior features: Crawl space basementHas a viewSeven total rooms

Listing history 44 events

1. 2026-08-08
   days on market $123,900 Active 53 DOM
2. 2026-08-07
   days on market $123,900 Active 52 DOM
3. 2026-08-06
   days on market $123,900 Active 51 DOM
4. 2026-08-05
   days on market $123,900 Active 50 DOM
5. 2026-08-04
   days on market $123,900 Active 49 DOM
6. 2026-08-03
   days on market $123,900 Active 48 DOM
7. 2026-07-31
   days on market $123,900 Active 45 DOM
8. 2026-07-30
   days on market $123,900 Active 44 DOM
9. 2026-07-29
   days on market $123,900 Active 43 DOM
10. 2026-07-27
    days on market $123,900 Active 41 DOM
11. 2026-07-25
    days on market $123,900 Active 39 DOM
12. 2026-07-24
    days on market $123,900 Active 38 DOM
13. 2026-07-23
    days on market $123,900 Active 37 DOM
14. 2026-07-22
    days on market $123,900 Active 36 DOM
15. 2026-07-21
    days on market $123,900 Active 35 DOM
16. 2026-07-20
    days on market $123,900 Active 34 DOM
17. 2026-07-18
    days on market $123,900 Active 32 DOM
18. 2026-07-17
    days on market $123,900 Active 30 DOM
19. 2026-07-15
    days on market $123,900 Active 29 DOM
20. 2026-07-14
    days on market $123,900 Active 28 DOM
21. 2026-07-13
    days on market $123,900 Active 27 DOM
22. 2026-07-12
    days on market $123,900 Active 26 DOM
23. 2026-07-12
    days on market $123,900 Active 25 DOM
24. 2026-07-10
    days on market $123,900 Active 24 DOM
25. 2026-07-09
    days on market $123,900 Active 23 DOM
26. 2026-07-07
    days on market $123,900 Active 21 DOM
27. 2026-07-06
    days on market $123,900 Active 20 DOM
28. 2026-07-05
    days on market $123,900 Active 19 DOM
29. 2026-07-05
    days on market $123,900 Active 18 DOM
30. 2026-07-03
    days on market $123,900 Active 17 DOM
31. 2026-07-02
    days on market $123,900 Active 16 DOM
32. 2026-07-01
    days on market $123,900 Active 15 DOM
33. 2026-06-30
    days on market $123,900 Active 14 DOM
34. 2026-06-29
    days on market $123,900 Active 13 DOM
35. 2026-06-28
    days on market $123,900 Active 12 DOM
36. 2026-06-28
    price $123,900 Active 11 DOM
37. 2026-06-27
    days on market $139,000 Active 11 DOM
38. 2026-06-26
    days on market $139,000 Active 10 DOM
39. 2026-06-22
    days on market $139,000 Active 6 DOM
40. 2026-06-21
    days on market $139,000 Active 5 DOM
41. 2026-06-21
    days on market $139,000 Active 4 DOM
42. 2026-06-18
    days on market $139,000 Active 2 DOM
43. 2026-06-17
    remarks 413-char remark
44. 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: $1,016 · $85/mo
• Expected delta: +$606/yr (+$50/mo · 147.6%)

ⓘ 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 ≥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: $18,134
• − Mortgage interest: −$6,940
• − Property taxes: −$410
• − Insurance: −$620
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$3,604
• Taxable income: $3,658
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $4,621/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $27,650–$49,770 screening

This single-family home requires moderate repairs and updates to its roof, exterior, and interior. Painting, updating fixtures, and landscaping can significantly enhance its value for both resale and rental purposes.

Components & finishes AI

Roof asphalt shingle · failing

Deferred maintenance Est. $10,000–$30,000 screening

• Major Roof (roof) — Significant damage to shingles and flashing around chimney

Repairs flagged

• Major roof — Shingles are visibly damaged
• Moderate exterior walls — Brick siding shows wear
• Minor flooring — Carpeted floors appear worn
• Minor interior walls — Paint appears chipped and faded
• Minor bathrooms — Bathroom fixtures appear dated

Value-add opportunities

• Both Painting and updating fixtures in the bathroom — Fresh paint and updated fixtures can improve both resale and rental value ↑
• Both Landscaping and trimming overgrown areas — A well-maintained exterior can enhance curb appeal and attract potential buyers ↑
• Both Re-roofing the house — A new roof can significantly increase the home's value and reduce maintenance costs ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 24/100

Zoned Schools

Elementary Lilesville Elementary F NC #1,033/1,410 Nat'l #28,475/41,679 Middle Anson Middle F NC #402/475 Nat'l #10,902/14,009 High Anson High School F NC #484/535 Nat'l #13,673/17,239

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

F Composite livability gradescore 41/100

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

• County: Anson · 23,572 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 9,595
• Household income: $36,139
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 10% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Parking: Covered off-street parking
• Utilities: Utilities: see remarks
• Home design: Single-family residenceOne story, entry level on main floor
• Construction: Brick veneer and vinyl siding over frame constructionShingle roofSee remarks for foundation detailsBuilt as a single-level home
• Exterior features: Front porchPaved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioningElectric forced-air heating
• Interior features: Crawl space basementHas a viewSeven total rooms

Price history

+117.4% since first listed

3 events — show timeline

• 2026-06-27 Price Changed $123,900 Hive MLS
• 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.