104 Nickel Plate Dr · Mocksville, NC 27028

$299,000

4 bd · 2.5 ba · 2,164 sqft · SingleFamily · 90 Days on market

Built 2025 7,840 sqft lot Est $316k · 5% under $80/mo HOA · 3% of rent ↓ 9% since listing

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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 +11.8/30.0
• ARV discount +9.9/15.0
• Schools +4.4/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

The Penwell is a two-story floor plan at Hudson Glen located Mocksville, NC, It offers 4 bedrooms, 2.5 bathrooms, 2,164 sq. ft. , and a 2-car garage. Upon entry, you'll find an inviting foyer leading to a flex room, powder room, and an open living area that connects seamlessly with the kitchen and breakfast area. The kitchen includes a walk-in pantry, stainless steel appliances, and a functional island perfect for cooking and entertaining. Upstairs, the primary bedroom offers a spacious walk-in closet and an en-suite bathroom with a walk-in shower, dual vanity, and water closet. Three additional bedrooms share a full bathroom. The conveniently located laundry room completes the second floor

Key facts

• Walk-in closet
• Functional island
• Flex room

Tags

• FLEX ROOM
• WALK-IN PANTRY
• STAINLESS STEEL APPLIANCES
• FUNCTIONAL ISLAND
• WALK-IN CLOSET
• EN-SUITE BATHROOM

Property features AI

Finance

• Other: No pool; No guest house
• HOA & community: HOA (Greensboro) with $80 monthly fee; Subdivision: Hudson Glen

Exterior

• Parking: Attached front-load garage with 2 spaces; Driveway; Garage door opener
• Security: Security system; Carbon monoxide detector(s)
• Utilities: Public water; Public sewer; Electric water heater
• Home design: Residential stick/site-built house; Two stories; New construction (2025); New / built as new
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Garden; Cleared, level lot

Interior

• Kitchen: Microwave; Convection oven; Dishwasher; Disposal; Free-standing range; Cooktop
• Bedrooms: Second level bedroom (17ft x 15ft 4in); Second level bedroom (13ft 2in x 14ft); Second level bedroom (10ft 4in x 12ft); Second level bedroom (12ft 5in x 13ft 3in)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Zoned heating; Electric heating fuel; Central air conditioning
• Interior features: Great room; Deadbolt(s); Kitchen island; Pantry; Attic access with pulldown stairs
• Laundry & utility: Laundry room with washer hookup and dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-82 ($-982/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (12.6% below list).
• Recommended offer: $261k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.0% in Mocksville — 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 73/100 on livability (#68 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D, amenities F.
• Davie County Schools (rural): math 51% / reading 52% proficiency, ranked #57 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cornatzer Elementary (math 57% / reading 52%, grade C, #302 of 1,410 statewide, top 23%, 350 students, 58% FRL); William Ellis Middle (math 48% / reading 59%, grade C+, #87 of 475 statewide, top 19%, 452 students, 31% FRL); Davie County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 1,770 students, 42% FRL).
• Market conditions: 221 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 250 units permitted in Davie County in 2024 (65 in 5+ unit buildings).
• At $2,613/mo this rent would consume 45% of the median local household income ($69k/yr) (locally 512% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Davie County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $261,332 (12.6% 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. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.87% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.17%
• DSCR: 0.95
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $315,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
194 Big Laurel Dr	0.11mi	4/2.5	2,164 (0%)	6mo	$319,000	$147	90
190 Big Laurel Dr	0.11mi	3/2.5 (-1)	2,164 (0%)	6mo	$315,000	$146	85
157 Chessie Rd	0.13mi	4/2.5	2,164 (0%)	11mo	$312,500	$144	85
168 Chessie Rd	0.27mi	4/2.5	2,164 (0%)	3mo	$288,000	$133	85
149 Big Laurel Dr	0.12mi	4/2.5	2,164 (0%)	12mo	$315,000	$146	84
189 Big Laurel Dr	0.22mi	4/2.5	2,164 (0%)	7mo	$313,000	$145	84
173 Big Laurel Dr	0.12mi	4/2.5	1,991 (-8%)	7mo	$295,000	$148	75
166 Chessie Rd	0.14mi	4/2.5	1,991 (-8%)	7mo	$290,000	$146	74
185 Big Laurel Dr	0.21mi	4/2.5	1,991 (-8%)	7mo	$290,000	$146	71
109 Marbrook Dr	0.66mi	3/2.5 (-1)	2,028 (-6%)	1mo	$393,000	$194	53
127 Elberon Ct	0.56mi	3/2.5 (-1)	2,337 (+8%)	8mo	$437,000	$187	49
176 Marbrook Dr	0.50mi	4/3.5	2,406 (+11%)	8mo	$407,000	$169	48

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-53,572
• Equity at exit: $44,582

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-52,998
• Equity at exit: $25,852

Cash invested: $83,720 (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 27028

• Home prices YoY: -23.8%
• Active inventory: 221
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,613 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$80
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $-82

Break-even live

Break-even rent $2,717

Max offer price $287,164

Occupancy floor 98%

Sensitivity live

Price	-10% $125	-5% $22	+0% $-82	+5% $-185	+10% $-288
Rent	-10% $-288	-5% $-185	+0% $-82	+5% $21	+10% $125
Rate	-1.0pp $69	-0.5pp $-6	base $-82	+0.5pp $-159	+1.0pp $-238

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 W Carmel Cove Dr Mocksville, NC	4.0	3.0	2405	$2,350	$0.98	25d	1	1.37mi
204 Spring St Mocksville, NC	3.0	2.0	1405	$1,750	$1.25	25d	1	1.49mi

HOA detail

• Monthly dues: $80 · $960/yr
• Likely covers: water

Listing history 8 events

1. 2026-04-30
   status Pending
2. 2026-04-10
   status Active
3. 2026-01-26
   status Pending
4. 2026-01-06
   price $299,000
5. 2025-12-30
   price $305,000
6. 2025-12-01
   price $309,000
7. 2025-11-18
   price $315,000
8. 2025-11-17
   listed $328,140 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,360
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,509
• − Management: −$2,509
• − HOA: −$960
• − Depreciation: −$8,698
• Taxable loss: −$6,045
• Est. tax savings @ 24.0%: +$1,451
• After-tax cash flow: $469/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: Davie County Schools
• NCES district ID: 3701170
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $51,331
• Composite: 44.16/100
• National rank: #2860
• State rank: #57 of 178 in NC

Livability — Mocksville

• Score: 73/100
• State rank: #68
• US rank: #5153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Davie County · 42,813 people
• City population: 26,566
• Metro: Winston-Salem, NC
• Population (ZIP): 26,566
• Household income: $69,137
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 512.0

Population outlook (Davie County) Hauer SSP2

• Today (2025): 42,613 people
• By 2030: 42,691 · +0.2%
• By 2040: 42,137 · -1.1%
• By 2050: 40,445 · -5.1%
• By 2075: 35,939 · -15.7%
• By 2100: 29,103 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 1%

Political lean MEDSL · Davie

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.6% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.3pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.5 2016: R+48.1 2012: R+43.7 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.58%
• Current HPI: 191.2464
• Rent YoY: —
• Metro: Winston-Salem, NC
• 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

-8.9% since first listed

8 events — show timeline

• 2026-04-30 Pending — Triad MLS
• 2026-04-10 Relisted — Triad MLS
• 2026-01-26 Pending — Triad MLS
• 2026-01-06 Price Changed $299,000 Triad MLS
• 2025-12-30 Price Changed $305,000 Triad MLS
• 2025-12-01 Price Changed $309,000 Triad MLS
• 2025-11-18 Price Changed $315,000 Triad MLS
• 2025-11-17 Listed $328,140 Triad MLS