138 Charles St · Hamlet, NC 28345

$100,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 9 Days on market

Built 1991 1.86 ac lot Est $192k · 48% under

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Why this score? — see what drove the C+ 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling All Investors and Opportunity Seekers! Situated on nearly 2 acres, this 3-bedroom, 2-bathroom doublewide offers approximately 1,300 heated square feet and endless potential. Being sold as-is, this property is ready for someone with vision to bring it back to life. Inside, you'll find a spacious living room, a kitchen and dining combination, and a desirable split-bedroom floor plan that provides privacy for the primary suite. The home's layout offers a solid foundation for updates and improvements. Outside, the possibilities continue with multiple storage buildings and ample land. With nearly 2 acres, there may be potential to divide the property and create an additional homesite,

Key facts

• Nearly 2 acres
• 1.86 acre lot
• Built 1991

Tags

• NEARLY 2 ACRES
• MULTIPLE STORAGE BUILDINGS
• SPLIT-BEDROOM FLOOR PLAN
• KITCHEN AND DINING COMBINATION
• SOLID FOUNDATION FOR UPDATES

Property features AI

Finance

• Other: Zoned R-R; Lot approximately 1.86 acres; Road frontage on city street and state road; Frontage type: see remarks

Exterior

• Parking: Unpaved parking
• Utilities: Water available; Sewer available
• Home design: Manufactured home; Single-story (one level); Entry level is 1
• Construction: Built with block, vinyl siding, and frame materials; Brick/mortar permanent foundation; Metal roof
• Exterior features: Front porch; Side porch; No fencing; Property has a view; Shed(s) and outbuilding on the property

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (other); Cooling present (other)
• Interior features: Total of 6 rooms; Has cooling (other type); Has heating (other type); Includes 2 full bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.8% vs local median 3.8% in Hamlet — 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 70/100 on livability (#124 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime D, amenities F, commute F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairview Heights Elementary (math 43% / reading 42%, grade F, #625 of 1,410 statewide, top 45%, 504 students, 99% FRL); Hamlet Middle (math 22% / reading 34%, grade F, #360 of 475 statewide, top 77%, 425 students, 99% FRL); Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 73 active listings in the ZIP; 54 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richmond County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $44k; list at $100k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $191,808
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Battley Dairy Rd	0.68mi	4/2.0 (+1)	1,450 (+12%)	21mo	$215,000	$148	26

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-2,720
• Equity at exit: $14,910

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $14,952
• Equity at exit: $8,646

Cash invested: $28,000 (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 28345

• Home prices YoY: -22.3%
• Active inventory: 73
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,077 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$73 /mo · $877/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $212

Break-even live

Break-even rent $809

Max offer price $100,000

Occupancy floor 75%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $100,000 Active 9 DOM
2. 2026-06-18
   days on market $100,000 Active 8 DOM
3. 2026-06-17
   days on market $100,000 Active 7 DOM
4. 2026-06-16
   days on market $100,000 Active 6 DOM
5. 2026-06-15
   days on market $100,000 Active 5 DOM
6. 2026-06-14
   days on market $100,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $100,000 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: $877 · $73/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $12,929
• − Mortgage interest: −$5,602
• − Property taxes: −$877
• − Insurance: −$500
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$2,909
• Taxable income: $972
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $2,310/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Hamlet

• Score: 70/100
• State rank: #124
• US rank: #7413

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,224

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Black 34% Hispanic / Latino 4% Native American 4% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.70%
• Current HPI: 197.4677
• 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

+124.7% since first listed

2 events — show timeline

• 2026-06-10 Listed $100,000 Hive MLS
• 2014-10-03 Sold (Public Records) $44,500 Public Records

Property tax history

-1.0%/yr

Latest (2025): $877 · -1.9% YoY. Source: county tax records.