329 Vance St · Laurinburg, NC 28352

$50,000

3 bd · 1.5 ba · 1,658 sqft · SingleFamily · 7 Days on market

Built 1958 2.00 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.5/10.0

Listing remarks

Welcome to a prime investment opportunity in the heart of Laurinburg, North Carolina – a city on the rise! Nestled in a rapidly developing neighborhood, this property offers not only the charm of a well-established community but also the potential for great returns as Laurinburg continues to grow and attract both businesses and residents. This property sits in a vibrant, up-and-coming area, offering easy access to key local amenities, schools, parks, and transportation routes. With a mix of residential and commercial developments in the surrounding vicinity, it’s an ideal location for long-term investments. Whether you're looking to build, renovate, or hold for future appreciati

Key facts

• 2 acre lot
• Built 1958
• Listed 7 days

Tags

• INVESTMENT OPPORTUNITY
• EASY ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $746 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 24.2% vs local median 5.1% in Laurinburg — 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 56/100 on livability (#632 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools F, crime F.
• Scotland County Schools (town): math 23% / reading 28% proficiency, ranked #160 of 178 in NC (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 158 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $50,000

Questions for the listing agent

1. Built in 1958 — 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: 2.76% ✓
• Cap rate: 24.19%
• Cash-on-cash: 63.91%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $157,510
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 West Blvd	0.45mi	3/1.5	1,656 (-0%)	7mo	$155,000	$94	73
223 W Vance St	0.43mi	3/1.5	1,580 (-5%)	11mo	$170,000	$108	63
321 Midland Way	0.55mi	3/2.0	1,648 (-1%)	11mo	$156,000	$95	62
322 E Church St	0.35mi	2/1.0 (-1)	1,780 (+7%)	7mo	$90,000	$51	59
421 James St	0.28mi	2/2.0 (-1)	1,478 (-11%)	11mo	$152,200	$103	53
110 First St	0.56mi	2/1.0 (-1)	1,515 (-9%)	9mo	$72,000	$48	45
201 2nd St	0.51mi	2/1.0 (-1)	1,430 (-14%)	3mo	$60,000	$42	44
506 Everett St	0.46mi	3/2.0	1,451 (-12%)	23mo	$170,000	$117	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.0%
• Equity multiple: 3.81×
• Total profit: $39,405
• Equity at exit: $7,455

10-year hold

• IRR: 67.5%
• Equity multiple: 7.82×
• Total profit: $95,544
• Equity at exit: $4,323

Cash invested: $14,000 (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 28352

• Home prices YoY: -3.4%
• Active inventory: 158
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,381 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $746

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 41%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-03-21
   status Pending
2. 2025-03-13
   listed $50,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,574
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$1,455
• Taxable income: $8,667
• Est. tax owed @ 24.0%: −$2,080
• After-tax cash flow: $6,867/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: Scotland County Schools
• NCES district ID: 3704200
• Math proficiency: 23% ▼ -5.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $31,203
• Composite: 20.66/100
• National rank: #8536
• State rank: #160 of 178 in NC

Livability — Laurinburg

• Score: 56/100
• State rank: #632
• US rank: #22962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurinburg, NC
• City population: 24,177
• Population (ZIP): 24,177

Population outlook (Scotland County) Hauer SSP2

• Today (2025): 33,331 people
• By 2030: 32,017 · -3.9%
• By 2040: 29,290 · -12.1%
• By 2050: 26,554 · -20.3%
• By 2075: 19,857 · -40.4%
• By 2100: 13,851 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 37% Native American 11% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Scotland

• 2024 margin: Lean R (+6.9) · D 46.2% · R 53.1%
• 2008→2024 swing: -22.0pp toward R · 2008: 15.1pp · 2024: -6.9pp
• All cycles: 2024: R+6.9 2020: R+1.9 2016: D+7.8 2012: D+16.6 2008: D+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.08%
• Current HPI: 255.331
• 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

2 events — show timeline

• 2025-03-21 Pending — Triad MLS
• 2025-03-13 Listed $50,000 Triad MLS