52 Mockingbird Ln · Hayesville, NC 28904

$179,900

2 bd · 1.5 ba · 1,140 sqft · SingleFamily public records · 4 Days on market

Built 1989 1.00 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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Appreciation +5.6/10.0
• 1% rule +5.4/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Another townhouse in Hayesville with terrific mountain views. Immaculate condition. Single owner has updated and maintained the interior with new bathroom fixtures, vanities and shower stall. This end unit offers more privacy. Small area for garden. Furnishings are negotiable.

Key facts

• Shower stall
• End unit
• Vanities

Tags

• UPDATED BATHROOM FIXTURES
• VANITIES
• SHOWER STALL
• END UNIT
• SMALL AREA FOR GARDEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 7.9% vs local median 2.5% in Hayesville — 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 67/100 on livability (#209 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing C-, crime F, amenities F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 694 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.2% local appreciation)).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $179,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $360,240
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
Lot 4 Lakeside Ests	0.37mi	2/2.0	1,084 (-5%)	20mo	$325,000	$300	56
Lot 12 Lakeside Ests	0.63mi	2/2.0	1,042 (-9%)	16mo	$329,360	$316	41

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

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.41×
• Total profit: $20,432
• Equity at exit: $63,675

10-year hold

• IRR: 11.7%
• Equity multiple: 2.46×
• Total profit: $73,538
• Equity at exit: $86,394

Cash invested: $50,372 (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 28904

• Home prices YoY: 0.4%
• Active inventory: 694
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,870 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $234

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 82%

Sensitivity live

Price	-10% $359	-5% $296	+0% $234	+5% $172	+10% $110
Rent	-10% $86	-5% $160	+0% $234	+5% $308	+10% $382
Rate	-1.0pp $325	-0.5pp $280	base $234	+0.5pp $188	+1.0pp $140

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 Cherrywood Cir Hayesville, NC	2.0	1.0	1100	$1,850	$1.68	15d	1	0.21mi
248 Avery Scroggs Rd Hayesville, NC	2.0	2.0	1064	$2,000	$1.88	15d	1	1.28mi

Listing history 2 events

1. 2026-04-14
   status Pending
2. 2026-04-10
   listed $179,900 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,442
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$5,233
• Taxable loss: −$57
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $2,824/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: Clay County Schools
• NCES district ID: 3700870
• Math proficiency: 47% ▲ 5.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $37,205
• Composite: 40.31/100
• National rank: #3751
• State rank: #73 of 178 in NC

Livability — Hayesville

• Score: 67/100
• State rank: #209
• US rank: #10111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,614

Population outlook (Clay County) Hauer SSP2

• Today (2025): 10,855 people
• By 2030: 10,820 · -0.3%
• By 2040: 10,527 · -3.0%
• By 2050: 10,099 · -7.0%
• By 2075: 9,094 · -16.2%
• By 2100: 7,834 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 6% Slovak 3% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+50.1) · D 24.6% · R 74.7%
• 2008→2024 swing: -14.5pp toward R · 2008: -35.6pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+49.5 2016: R+51.7 2012: R+42.5 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 338.2524
• 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

2 events — show timeline

• 2026-04-14 Pending — NEGBOR
• 2026-04-10 Listed $179,900 NEGBOR

Property tax history

-0.4%/yr

Latest (2025): $261 · +65.6% YoY. Source: county tax records.