123 Stonewood Rd · Pleasant Hill, NC 28621

$59,000

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 80 Days on market

Built 1952 6,098 sqft lot ↓ 12% since listing

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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
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

Key facts

• Great natural light
• Ample cabinetry
• Spacious footprint

Tags

• INVESTMENT OPPORTUNITY
• SPACIOUS FOOTPRINT
• AMPLE CABINETRY
• GREAT NATURAL LIGHT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Shared well water; Shared septic
• Home design: Single-family residence; Residential property; One story; Entry level: Main; Zoning: R1
• Construction: Site-built construction; Asbestos construction material; Crawl space foundation; Shingle roof not specified
• Exterior features: Porch; Cleared lot; Asphalt/paved road; publicly maintained

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Attic with pull-down stairs; Total of 4 rooms
• Laundry & utility: No laundry features specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#519 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Wilkes High School (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 495 students, 48% FRL).
• Market conditions: 72 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wilkes County population projected at -18% 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $21k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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?
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: 1.65% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.36%
• DSCR: 2.31
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.8%
• Equity multiple: 1.98×
• Total profit: $16,175
• Equity at exit: $8,797

10-year hold

• IRR: 31.7%
• Equity multiple: 3.86×
• Total profit: $47,193
• Equity at exit: $5,101

Cash invested: $16,520 (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 28621

• Home prices YoY: -31.9%
• Active inventory: 72
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$32 /mo · $383/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $404

Break-even live

Break-even rent $463

Max offer price $59,000

Occupancy floor 54%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $59,000 Active 80 DOM
2. 2026-06-18
   days on market $59,000 Active 79 DOM
3. 2026-06-17
   days on market $59,000 Active 78 DOM
4. 2026-06-16
   days on market $59,000 Active 77 DOM
5. 2026-06-15
   days on market $59,000 Active 76 DOM
6. 2026-06-14
   days on market $59,000 Active 74 DOM
7. 2026-06-12
   days on market $59,000 Active 73 DOM
8. 2026-06-09
   days on market $59,000 Active 70 DOM
9. 2026-06-08
   days on market $59,000 Active 69 DOM
10. 2026-06-07
    days on market $59,000 Active 68 DOM
11. 2026-06-03
    days on market $59,000 Active 64 DOM
12. 2026-06-02
    days on market $59,000 Active 63 DOM
13. 2026-06-01
    days on market $59,000 Active 62 DOM
14. 2026-05-31
    days on market $59,000 Active 61 DOM
15. 2026-05-30
    days on market $59,000 Active 60 DOM
16. 2026-05-08
    status Active

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

17. 2026-05-08
    status Active 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

18. 2026-05-08
    status Active 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

19. 2026-05-05
    status Pending 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

20. 2026-04-24
    historical Due Diligence Period 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

21. 2026-04-24
    historical Active Under Contract

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

22. 2026-04-24
    historical Active Under Contract 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

23. 2026-04-14
    price $59,000 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

24. 2026-04-14
    price $59,000

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

25. 2026-04-14
    price $59,000 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

26. 2026-04-07
    price $69,900 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

27. 2026-04-07
    price $69,900

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

28. 2026-04-07
    price $69,900 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

29. 2026-03-31
    listed $79,900 Active

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

30. 2026-03-31
    listed $79,900 Active 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

31. 2026-03-31
    listed $79,900 Active 409-char remark

    Show marketing remark (409 chars)

    Great investment opportunity! This property is a blank canvas ready for your personal touch. This 2-bed, 1-bath home features a classic and functional layout with wood and vinyl flooring throughout. The kitchen offers a spacious footprint with ample cabinetry, and the bedrooms are generously sized with great natural light. Sold as is, don't miss your chance to revitalize this Elkin gem! Agent is the Owner.

32. 2026-03-27
    soldstatus $50,000
33. 2023-06-30
    soldstatus $32,000
34. 2007-03-28
    soldstatus $67,000

ⓘ 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: $383 · $32/mo
• Projected year-2 tax: $484 · $40/mo
• Expected delta: +$101/yr (+$8/mo · 26.3%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $11,699
• − Mortgage interest: −$3,305
• − Property taxes: −$383
• − Insurance: −$295
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,716
• Taxable income: $4,127
• Est. tax owed @ 24.0%: −$991
• After-tax cash flow: $3,860/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: Wilkes County Schools
• NCES district ID: 3704950
• Math proficiency: 55% ▲ 13.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $34,538
• Composite: 43.41/100
• National rank: #3017
• State rank: #59 of 178 in NC

Livability — Pleasant Hill

• Score: 60/100
• State rank: #519
• US rank: #19067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasant Hill, NC
• Population (ZIP): 9,977

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 66,349 people
• By 2030: 64,411 · -2.9%
• By 2040: 59,800 · -9.9%
• By 2050: 54,770 · -17.5%
• By 2075: 45,211 · -31.9%
• By 2100: 36,956 · -44.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 17% Two or more races 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 10% Vietnamese 1%

Political lean MEDSL · Wilkes

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.2pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+56.6 2016: R+55.2 2012: R+42.7 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.12%
• Current HPI: 249.5244
• 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

-11.9% since first listed

19 events — show timeline

• 2026-05-08 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Relisted — Triad MLS
• 2026-05-08 Relisted — HCMLS
• 2026-05-05 Pending — Triad MLS
• 2026-04-24 Contingent — Triad MLS
• 2026-04-24 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Contingent — HCMLS
• 2026-04-14 Price Changed $59,000 HCMLS
• 2026-04-14 Price Changed $59,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $59,000 Triad MLS
• 2026-04-07 Price Changed $69,900 Triad MLS
• 2026-04-07 Price Changed $69,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $69,900 HCMLS
• 2026-03-31 Listed $79,900 HCMLS
• 2026-03-31 Listed $79,900 Triad MLS
• 2026-03-31 Listed $79,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-27 Sold (Public Records) $50,000 Public Records
• 2023-06-30 Sold (Public Records) $32,000 Public Records
• 2007-03-28 Sold (Public Records) $67,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $383 · +60.1% YoY. Source: county tax records.