12040 Mccormick Dr · Maxton, NC 28364

$190,000

3 bd · 2.0 ba · 1,728 sqft · SingleFamily public records · 13 Days on market

Built 1977 0.69 ac lot Est $154k · 24% over

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Why this score? — see what drove the F 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 +10.7/30.0
• Appreciation +7.0/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming 3 bed 2.5 bath home with recently remodeled kitchen and open floor plan. Extra storage and a 3 car carport with lighting and electric. This home is also outfitted with a direct hook up for a generator. The backyard is partially fenced in.

Key facts

• Large granite island
• Updated kitchen
• Side porch

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED KITCHEN
• LARGE GRANITE ISLAND
• SIDE PORCH
• 12 X 24 STORAGE BUILDING
• QUIET NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Carport with 3 spaces; Additional gravel off-street parking
• Utilities: Public water; Sewer available; Septic tank
• Home design: Single family residence; Two levels; Entry level: 2; Two-story
• Construction: Vinyl siding and frame construction; Brick/mortar foundation
• Exterior features: Covered porch and side porch; Storage structure; Workshop; Shingle roof; Has view

Interior

• Kitchen: Electric oven; Self-cleaning oven; Refrigerator; Dishwasher
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric heating; Fireplace(s); Central air conditioning; Heat pump cooling
• Interior features: Window coverings; Partially furnished; Vented exhaust fan; Electric water heater; Gas log fireplace
• Laundry & utility: Washer hookup; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (27.6% below list).
• Recommended offer: $138k (27.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#434 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B+; Watch: amenities F, commute F, employment 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.
• Zoned schools: South Johnson Elementary (math 28% / reading 35%, grade F, #945 of 1,410 statewide, top 68%, 672 students, 100% FRL); Spring Hill Middle (math 25% / reading 29%, grade F, #374 of 475 statewide, top 80%, 643 students, 99% FRL); Scotland High School (math 45% / reading 44%, grade F, #352 of 535 statewide, top 68%, 1,445 students, 98% FRL) — zoned schools average 99% FRL vs 72% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 4 active listings in the ZIP; 70 units permitted in Scotland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.0% local appreciation)).
• Scotland County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $157k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 77% chance of damaging wind over 30y; moderate 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 $137,537 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $153,792
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12081 Hoyle Cir	0.05mi	3/2.0	1,725 (-0%)	22mo	$130,000	$75	79
22580 Hoyl Cir	0.09mi	4/2.0 (+1)	1,600 (-7%)	20mo	$142,000	$89	61
21681 Old Maxton Rd	0.61mi	3/2.0	1,520 (-12%)	19mo	$247,500	$163	36

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

Projected returns pro-forma

4.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.52×
• Total profit: $27,600
• Equity at exit: $96,668

10-year hold

• IRR: 10.6%
• Equity multiple: 2.76×
• Total profit: $93,821
• Equity at exit: $158,376

Cash invested: $53,200 (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 28364

• Home prices YoY: 2.3%
• Active inventory: 4
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$102 /mo · $1,222/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-91

Break-even live

Break-even rent $1,490

Max offer price $173,949

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-37	+0% $-91	+5% $-145	+10% $-198
Rent	-10% $-200	-5% $-145	+0% $-91	+5% $-37	+10% $18
Rate	-1.0pp $5	-0.5pp $-43	base $-91	+0.5pp $-140	+1.0pp $-190

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $190,000 Active 13 DOM
2. 2026-06-18
   days on market $190,000 Active 10 DOM
3. 2026-06-17
   days on market $190,000 Active 9 DOM
4. 2026-06-16
   days on market $190,000 Active 8 DOM
5. 2026-06-15
   days on market $190,000 Active 7 DOM
6. 2026-06-14
   days on market $190,000 Active 5 DOM
7. 2026-06-13
   days on market $190,000 Active 4 DOM
8. 2026-06-10
   days on market $190,000 Active 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $190,000 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: $1,222 · $102/mo
• Projected year-2 tax: $1,558 · $130/mo
• Expected delta: +$336/yr (+$28/mo · 27.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,504
• − Mortgage interest: −$10,643
• − Property taxes: −$1,222
• − Insurance: −$950
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$5,527
• Taxable loss: −$4,479
• Est. tax savings @ 24.0%: +$1,075
• After-tax cash flow: $-15/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 — Maxton

• Score: 63/100
• State rank: #434
• US rank: #16047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maxton, NC
• Population (ZIP): 13,184

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: Highly diverse neighborhood (Simpson 0.96)
• Race & ethnicity: Native American 68% Black 19% White 8% Two or more races 2% Asian 1% Hispanic / Latino 1%
• Common ancestry: Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Other Indo-European 1% Spanish 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: ▲ 4.03%
• Current HPI: 182.0542
• 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

+13.4% since first listed

5 events — show timeline

• 2026-06-08 Listed $190,000 Hive MLS
• 2022-08-04 Sold (Public Records) $161,000 Public Records
• 2022-08-04 Sold (MLS) $157,000 Hive MLS
• 2022-06-19 Pending — Hive MLS
• 2022-06-14 Listed $167,500 Hive MLS

Property tax history

-0.3%/yr

Latest (2025): $1,222 · +0.0% YoY. Source: county tax records.