8800 Spring Meadow Dr · Rhodhiss, NC 28601

$135,000

3 bd · 1.0 ba · 2,052 sqft · Manufactured · 10 Days on market

Built 1998 Fair condition 0.83 ac lot

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +3.8/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this spacious 3-bedroom, 1-bath home offering 2,052 square feet of living space on a generous 0.83-acre lot. Built in 1998, this property features a versatile flex room that can easily serve as a home office, playroom, hobby space, or guest area to fit your needs. Outside, you'll find two storage sheds in the backyard, providing ample space for tools, equipment, or workshop projects. The HVAC system is 6 years old and the water heater is only 6 months old. The only appliance that will stay with the home is the oven. This home is ready for a new owner to bring their vision and personal touches. With solid bones, a functional layout, and plenty of outdoor space, it's a

Key facts

• Generous lot
• Flex room
• Outdoor space

Tags

• FLEX ROOM
• STORAGE SHEDS
• OUTDOOR SPACE
• GENEROUS LOT

Property features AI

Finance

• Other: Property located in Burke County, NC (postal code 28601)
• HOA & community: No homeowners association

Exterior

• Utilities: Private well water; Septic tank
• Home design: Manufactured double-wide home; Single-story (one level)
• Construction: Steel siding; Brick/mortar foundation; Shingle roof; Built as a manufactured house
• Exterior features: Lot is about 0.83 acres; Publicly maintained road access; Directions: Take a left on Spring Meadow Dr and the home is on the left.

Interior

• Kitchen: Includes dishwasher, electric oven, microwave, refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating system specified; Central air conditioning
• Interior features: Dishwasher; Electric oven; Microwave; Refrigerator; Washer/Dryer; Laundry room; Carpet and tile flooring
• Laundry & utility: Laundry room; Washer/Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).

Location & tenants

• Location reads 60/100 on livability (#515 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime F, amenities F.
• Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.9%/yr); 423 active listings in the ZIP; 422 units permitted in Burke County in 2024 (94 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Burke County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,684
• Equity at exit: $20,129

10-year hold

• IRR: 8.1%
• Equity multiple: 1.64×
• Total profit: $24,328
• Equity at exit: $11,672

Cash invested: $37,800 (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 28601

• Home prices YoY: -27.2%
• Rents YoY: 3.9%
• Active inventory: 423
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,514 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $263

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $357	-5% $310	+0% $263	+5% $217	+10% $170
Rent	-10% $144	-5% $203	+0% $263	+5% $323	+10% $383
Rate	-1.0pp $331	-0.5pp $298	base $263	+0.5pp $228	+1.0pp $193

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-13
   statusdays on market $135,000 Pending 10 DOM
2. 2026-06-10
   days on market $135,000 Active 8 DOM
3. 2026-06-09
   days on market $135,000 Active 7 DOM
4. 2026-06-08
   days on market $135,000 Active 6 DOM
5. 2026-06-07
   days on market $135,000 Active 5 DOM
6. 2026-06-05
   days on market $135,000 Active 2 DOM
7. 2026-06-03
   remarks 699-char remark
8. 2026-06-03
   listed $135,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,171
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,927
• Taxable income: $1,074
• Est. tax owed @ 24.0%: −$258
• After-tax cash flow: $2,902/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include exterior siding, kitchen cabinets, and bathroom fixtures.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major kitchen cabinets — Outdated and worn
• Major bathroom fixtures — Basic and outdated
• Moderate HVAC system — 6-year-old system

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace worn carpet — Fresh carpet improves comfort and appearance
• Resale Replace outdated kitchen cabinets — Modern cabinets increase appeal and functionality
• Resale Replace outdated bathroom fixtures — Modern fixtures improve functionality and appearance
• Both Replace HVAC system — Modern HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
kitchen cabinets · Outdated and worn	Major	$15,000–50,000
bathroom fixtures · Basic and outdated	Major	$15,000–50,000
HVAC system · 6-year-old system	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$48,000–165,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace worn carpet — Fresh carpet improves comfort and appearance ↑
• Resale Replace outdated kitchen cabinets — Modern cabinets increase appeal and functionality ↑
• Resale Replace outdated bathroom fixtures — Modern fixtures improve functionality and appearance ↑
• Both Replace HVAC system — Modern HVAC system improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Burke County Schools
• NCES district ID: 3700480
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $38,342
• Composite: 37.51/100
• National rank: #4400
• State rank: #89 of 178 in NC

Livability — Rhodhiss

• Score: 60/100
• State rank: #515
• US rank: #18892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Catawba County · 105,763 people
• City population: 282
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 53,329
• Household income: $67,817
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1276.0

Population outlook (Burke County) Hauer SSP2

• Today (2025): 86,552 people
• By 2030: 84,123 · -2.8%
• By 2040: 78,165 · -9.7%
• By 2050: 71,099 · -17.9%
• By 2075: 56,264 · -35.0%
• By 2100: 44,742 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 9% Black 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 4% Slovak 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Burke

• 2024 margin: Solid R (+41.2) · D 29.0% · R 70.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -19.2pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+40.1 2016: R+39.4 2012: R+23.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.98%
• Current HPI: 241.0743
• Rent YoY: ▲ 3.91%
• Metro: Hickory-Lenoir-Morganton, 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

1 event — show timeline

• 2026-06-02 Listed $135,000 TMLS