1304 Shannon Dr · Wadesboro, NC 28170

$195,000

3 bd · 2.0 ba · 1,844 sqft · SingleFamily public records · 42 Days on market

Built 1963 2.00 ac lot Est $282k · 31% 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 +17.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.4/10.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks

Nestled on a private, tree-lined lot with mature landscaping, this spacious ranch-style home is full of charm, character, and endless potential! Inside, you’ll find beautiful hardwood floors, multiple oversized living and entertaining areas, and a striking fireplace with brick hearth that creates the perfect cozy centerpiece! Large windows bring in abundant natural light throughout the home, while the flexible floorplan offers plenty of room to make the space your own! The dining area opens to a covered outdoor space through charming French doors, creating an ideal indoor-outdoor flow for relaxing or entertaining guests! Spacious bedrooms, warm wood accents, and generously sized li

Key facts

• 2 acre lot
• Built 1963
• Listed 42 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: City water; Public sewer; Publicly maintained road access; Road surface is stone and paved
• Home design: Single-family residence; One level (single story); Site-built construction
• Construction: Brick (full) and wood exterior; Crawl space foundation
• Exterior features: Covered front porch; Patio; Screened porch

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 7 total rooms; Living room fireplace (gas not specified)
• Laundry & utility: Laundry room located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (10.3% below list).
• Recommended offer: $175k (10.3% below list) — sets the bar for 1% rule.

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: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $175,000 (10.3% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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?
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: 0.90% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $282,132
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 Center St	0.28mi	3/2.5	1,714 (-7%)	1mo	$285,000	$166	72
160 Williamsburg Ln	0.28mi	3/2.0	1,977 (+7%)	9mo	$375,000	$190	68
302 Nottingham Way	0.28mi	4/3.0 (+1)	1,887 (+2%)	21mo	$323,500	$171	57
323 Breslin St	0.61mi	3/2.0	1,792 (-3%)	13mo	$175,000	$98	56
139 Highland Woods Dr	0.63mi	3/2.0	1,987 (+8%)	16mo	$250,000	$126	44
103 Wadesborough Pl	0.50mi	4/3.0 (+1)	2,090 (+13%)	3mo	$319,000	$153	42
600 Burns St	0.62mi	4/3.5 (+1)	1,979 (+7%)	12mo	$295,000	$149	38
503 Breslin St	0.74mi	3/2.0	1,590 (-14%)	11mo	$220,000	$138	33

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: 26.6%
• Equity multiple: 3.12×
• Total profit: $115,589
• Equity at exit: $175,671

10-year hold

• IRR: 23.3%
• Equity multiple: 7.10×
• Total profit: $332,890
• Equity at exit: $378,842

Cash invested: $54,600 (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: 85
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,750 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $148

Break-even live

Break-even rent $1,563

Max offer price $195,000

Occupancy floor 87%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 Marsh Ave Wadesboro, NC	4.0	2.5	2500	$1,750	$0.70	23d	1	1.05mi

Listing history 15 events

1. 2026-06-18
   days on market $195,000 Active 42 DOM
2. 2026-06-17
   days on market $195,000 Active 41 DOM
3. 2026-06-16
   days on market $195,000 Active 40 DOM
4. 2026-06-15
   days on market $195,000 Active 39 DOM
5. 2026-06-13
   days on market $195,000 Active 37 DOM
6. 2026-06-12
   days on market $195,000 Active 36 DOM
7. 2026-06-09
   days on market $195,000 Active 33 DOM
8. 2026-06-08
   days on market $195,000 Active 32 DOM
9. 2026-06-07
   days on market $195,000 Active 31 DOM
10. 2026-06-07
    days on market $195,000 Active 30 DOM
11. 2026-06-04
    days on market $195,000 Active 27 DOM
12. 2026-06-02
    days on market $195,000 Active 26 DOM
13. 2026-06-01
    days on market $195,000 Active 25 DOM
14. 2026-05-31
    days on market $195,000 Active 24 DOM
15. 2026-05-07
    listed $195,000 Active

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $1,599 · $133/mo
• Expected delta: +$32/yr (+$3/mo · 2.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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: $21,000
• − Mortgage interest: −$10,923
• − Property taxes: −$1,567
• − Insurance: −$975
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$5,673
• Taxable loss: −$1,498
• Est. tax savings @ 24.0%: +$359
• After-tax cash flow: $2,136/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

• 2026-05-07 Listed $195,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $1,567 · +4.5% YoY. Source: county tax records.