122 Clebourne Ln · Reidsville, NC 27320

$194,000

3 bd · 2.0 ba · 1,544 sqft · Manufactured public records · 399 Days on market

Built 1987 0.65 ac lot $45/mo HOA · 2% of rent

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Why this score? — see what drove the D+ 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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.5/10.0
• Schools +3.3/10.0
• 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

Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

Key facts

• 0.65 acre lot
• Built 1987
• Listed 399 days

Property features AI

Finance

• Other: Lot size about 0.65 acre
• HOA & community: Association with Winston-Salem; Monthly association fee of $45

Exterior

• Parking: Driveway
• Utilities: Septic tank sewer; Electric water heater (listed with utilities)
• Home design: Manufactured home (manufactured house); One level; New construction listed as 'New'; Built in 1987; Residential property in Beneja Crossing subdivision
• Construction: Vinyl siding; Shallow crawl space foundation
• Exterior features: No fencing; Public water

Interior

• Kitchen: Kitchen on main
• Bedrooms: Primary on main
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; No fuel heating
• Interior features: Primary bedroom on main level; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $194k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/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 $184k (4.9% below list).
• Recommended offer: $171k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.8% in Reidsville — 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 59/100 on livability (#553 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D-, crime F, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 251 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 399 days — a 12% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 11 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.

Risks & watch-outs

• 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 $170,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 399 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.8

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-17,285
• Equity at exit: $28,926

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $3,068
• Equity at exit: $16,774

Cash invested: $54,320 (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 27320

• Home prices YoY: -30.8%
• Active inventory: 251
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$81
• HOA: −$45
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $223

Break-even live

Break-even rent $1,563

Max offer price $194,000

Occupancy floor 83%

Sensitivity live

Price	-10% $333	-5% $278	+0% $223	+5% $168	+10% $113
Rent	-10% $77	-5% $150	+0% $223	+5% $296	+10% $369
Rate	-1.0pp $320	-0.5pp $272	base $223	+0.5pp $173	+1.0pp $121

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7734 U.S. 29 Unit 7 Browns Summit, NC	4.0	2.0	1600	$1,845	$1.15	15d	1	0.98mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 33 events

1. 2026-01-01
   status Active
2. 2026-01-01
   historical
3. 2025-08-31
   price $194,000
4. 2025-05-22
   price $196,000
5. 2025-04-22
   listed $198,000 Active
6. 2025-04-21
   historical $198,000
7. 2023-08-07
   soldstatus $192,000 Closed 205-char remark

   Show marketing remark (204 chars)

   Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

8. 2023-08-07
   soldstatus $192,000 Closed 204-char remark

   Show marketing remark (204 chars)

   Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

9. 2023-08-07
   soldstatus $192,000 204-char remark

   Show marketing remark (204 chars)

   Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

10. 2023-08-07
    soldstatus $192,000

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

11. 2023-07-19
    status Pending 205-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

12. 2023-06-27
    historical Due Diligence Period 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

13. 2023-06-27
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

14. 2023-06-15
    status Active 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

15. 2023-06-15
    status Active 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

16. 2023-05-26
    historical Due Diligence Period 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

17. 2023-05-26
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

18. 2023-03-27
    status Active 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

19. 2023-03-27
    status Active 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

20. 2023-03-01
    status Pending 205-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

21. 2023-02-07
    historical Due Diligence Period 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

22. 2023-02-07
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

23. 2022-12-15
    status Active 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

24. 2022-12-15
    status Active 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

25. 2022-12-06
    status Pending 205-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

26. 2022-11-19
    status Pending 204-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

27. 2022-11-19
    historical Due Diligence Period 205-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

28. 2022-11-15
    price $189,900 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

29. 2022-11-11
    price $189,900 205-char remark

    Show marketing remark (205 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

30. 2022-10-21
    listed $194,900 Active 205-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

31. 2022-10-21
    listed $194,900 Active 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

32. 2022-10-21
    listed $189,900 204-char remark

    Show marketing remark (204 chars)

    Welcome home to this beautifully renovated, move in ready manufactured home!! Updates include, freshly painted walls, all new flooring, new fixtures throughout and much more! Schedule your showing today!!

33. 2022-03-08
    soldstatus $18,000

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $1,591 · $133/mo
• Expected delta: +$492/yr (+$41/mo · 44.8%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,140
• − Mortgage interest: −$10,867
• − Property taxes: −$1,099
• − Insurance: −$970
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − HOA: −$540
• − Depreciation: −$5,644
• Taxable loss: −$522
• Est. tax savings @ 24.0%: +$125
• After-tax cash flow: $2,799/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Reidsville

• Score: 59/100
• State rank: #553
• US rank: #20359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 38,610
• Population (ZIP): 38,610

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 23% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.42%
• Current HPI: 205.028
• 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

+977.8% since first listed

33 events — show timeline

• 2026-01-01 Relisted — Triad MLS
• 2026-01-01 Delisted — Triad MLS
• 2025-08-31 Price Changed $194,000 Triad MLS
• 2025-05-22 Price Changed $196,000 Triad MLS
• 2025-04-22 Listed $198,000 Triad MLS
• 2025-04-21 Coming Soon $198,000 Triad MLS
• 2023-08-07 Sold (Public Records) $192,000 Public Records
• 2023-08-07 Sold (MLS) $192,000 TMLS
• 2023-08-07 Sold (MLS) $192,000 AMLSNC
• 2023-08-07 Sold (MLS) $192,000 Triad MLS
• 2023-07-19 Pending — Triad MLS
• 2023-06-27 Contingent — Triad MLS
• 2023-06-27 Pending — AMLSNC
• 2023-06-15 Relisted — Triad MLS
• 2023-06-15 Relisted — AMLSNC
• 2023-05-26 Contingent — Triad MLS
• 2023-05-26 Pending — AMLSNC
• 2023-03-27 Relisted — Triad MLS
• 2023-03-27 Relisted — AMLSNC
• 2023-03-01 Pending — Triad MLS
• 2023-02-07 Contingent — Triad MLS
• 2023-02-07 Pending — AMLSNC
• 2022-12-15 Relisted — Triad MLS
• 2022-12-15 Relisted — AMLSNC
• 2022-12-06 Pending — Triad MLS
• 2022-11-19 Pending — AMLSNC
• 2022-11-19 Contingent — Triad MLS
• 2022-11-15 Price Changed $189,900 AMLSNC
• 2022-11-11 Price Changed $189,900 Triad MLS
• 2022-10-21 Listed $189,900 TMLS
• 2022-10-21 Listed $194,900 AMLSNC
• 2022-10-21 Listed $194,900 Triad MLS
• 2022-03-08 Sold (Public Records) $18,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,099 · +0.0% YoY. Source: county tax records.