652 Cherry St · Wadesboro, NC 28170

$149,999

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 16 Days on market

Built 1923 0.27 ac lot

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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 +25.9/30.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks

Completely renovated and move-in ready, this charming 2-bedroom, 1-bath home offers over 900 sq ft of updated living space with a bright and functional layout. The spacious kitchen is a standout feature, showcasing beautiful new granite countertops, ample cabinet space, and plenty of room for cooking and gathering. Recent upgrades throughout the home provide modern comfort and peace of mind, including a brand-new HVAC system and refreshed finishes from top to bottom. Whether you're a first-time homebuyer, looking to downsize, or searching for a turnkey investment property, this home delivers quality, value, and convenience. Don't miss the opportunity to own a beautifully updated home that's

Key facts

• Spacious kitchen
• Ample cabinet space
• Refreshed finishes

Tags

• SPACIOUS KITCHEN
• NEW GRANITE COUNTERTOPS
• AMPLE CABINET SPACE
• BRAND NEW HVAC SYSTEM
• REFRESHED FINISHES

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Security:
• Utilities: City water; Public sewer
• Home design: Single-family residence (site built); One level; R-6 zoning
• Construction: Fiber cement exterior; Crawl space foundation
• Exterior features: Lot approximately 0.27 acres; Road surfaces include gravel and paved; Publicly maintained road access

Interior

• Kitchen:
• Bedrooms: 2 bedrooms on the main level (both approximately 12' x 12')
• Flooring:
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floor plan with 1 main living/room area
• Laundry & utility: Mud room laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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-, 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 ~2 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

• It's been on market 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $147,749 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.07% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $96,390
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Cherry St	0.13mi	2/1.0 (-1)	927 (+1%)	18mo	$97,000	$105	72
312 Cherry St	0.20mi	2/1.0 (-1)	1,000 (+9%)	19mo	$60,000	$60	55

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: 32.0%
• Equity multiple: 3.50×
• Total profit: $105,085
• Equity at exit: $135,131

10-year hold

• IRR: 27.6%
• Equity multiple: 7.93×
• Total profit: $290,906
• Equity at exit: $291,415

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: 7.8×

Monthly cashflow live

• Estimated rent: $1,612 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $368

Break-even live

Break-even rent $1,146

Max offer price $149,999

Occupancy floor 72%

Sensitivity live

Price	-10% $453	-5% $411	+0% $368	+5% $326	+10% $283
Rent	-10% $241	-5% $304	+0% $368	+5% $432	+10% $496
Rate	-1.0pp $444	-0.5pp $406	base $368	+0.5pp $329	+1.0pp $290

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 12 events

1. 2026-06-21
   pricedays on market $149,999 Active 16 DOM
2. 2026-06-18
   days on market $164,999 Active 14 DOM
3. 2026-06-17
   days on market $164,999 Active 13 DOM
4. 2026-06-16
   days on market $164,999 Active 12 DOM
5. 2026-06-15
   days on market $164,999 Active 11 DOM
6. 2026-06-13
   days on market $164,999 Active 9 DOM
7. 2026-06-12
   days on market $164,999 Active 8 DOM
8. 2026-06-09
   days on market $164,999 Active 5 DOM
9. 2026-06-08
   days on market $164,999 Active 4 DOM
10. 2026-06-07
    days on market $164,999 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $164,999 Active 2 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: $676 · $56/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$554/yr (+$46/mo · 82.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $19,345
• − Mortgage interest: −$8,402
• − Property taxes: −$676
• − Insurance: −$750
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − Depreciation: −$4,364
• Taxable income: $2,058
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $3,924/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

1 event — show timeline

• 2026-06-04 Listed $164,999 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $676 · +4.5% YoY. Source: county tax records.