226 Saddle Ridge Dr · Lowgap, NC 28623

$75,000

2 bd · 2.0 ba · 597 sqft · Manufactured · 1 Days on market

Built 2015 3,049 sqft 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Appreciation +5.6/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.0/5.0

Listing remarks

Own your own mountain getaway in the beautiful Saddle Ridge Campground in Ennice, NC! This deeded lot comes complete with a well-maintained 2015 Forest River Salem Villa Classic camper, offering the perfect blend of comfort and outdoor living. Designed with space and flexibility in mind, this retreat features 2 bedrooms and 2 full bathrooms, providing plenty of room for family and guests. Step inside to find a welcoming living area, a functional kitchen and comfortable sleeping accommodations for relaxing after a day of exploring the surrounding mountains. Whether you're looking for a weekend escape, a seasonal residence, or a place to gather with friends and family, this property is ready

Key facts

• Deeded lot
• Stocked fishing pond
• Basketball court

Tags

• DEEDED LOT
• HEATED SWIMMING POOL
• STOCKED FISHING POND
• CLUBHOUSE COMMUNITY BUILDING
• PICKLEBALL AND TENNIS COURTS
• BASKETBALL COURT

Property features AI

Finance

• HOA & community: HOA present and membership is mandatory; Community amenities include clubhouse, outdoor pool, pond, and tennis courts

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Community well water; Private sewer
• Home design: Manufactured singlewide home; Single-story
• Construction: Manufactured construction with aluminum exterior; Slab foundation
• Exterior features: Deck; Storage; Shed(s); Private maintained road with concrete/paved surface

Interior

• Kitchen: Gas range, Microwave, Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heat; Electric cooling
• Interior features: Gas Range, Microwave, Refrigerator; One total room (per listing room count)
• Laundry & utility: Laundry features: other (see remarks)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $75k).

Location & tenants

• Location reads 39/100 on livability (#733 in NC) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Alleghany County Schools (rural): math 41% / reading 44% proficiency, ranked #104 of 178 in NC (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glade Creek Elementary (math 47% / reading 42%, grade F, #574 of 1,410 statewide, top 43%, 252 students, 75% FRL); Alleghany High (math 67% / reading 57%, grade B-, #184 of 535 statewide, top 37%, 426 students, 59% FRL).
• Market conditions: 18 active listings in the ZIP; 91 units permitted in Alleghany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($519 loan paydown + $849 appreciation (1.1% local appreciation)).
• Alleghany County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $75,000

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. 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?
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: 1.07% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.14%
• DSCR: 1.45
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.63×
• Total profit: $13,158
• Equity at exit: $26,118

10-year hold

• IRR: 15.8%
• Equity multiple: 2.93×
• Total profit: $40,580
• Equity at exit: $35,110

Cash invested: $21,000 (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 28623

• Home prices YoY: 0.6%
• Active inventory: 18
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $801 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$31 /mo · $370/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $177

Break-even live

Break-even rent $576

Max offer price $75,000

Occupancy floor 73%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $75,000 Active 1 DOM

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $370 · $31/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$245/yr (+$20/mo · 66.2%)

ⓘ 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 2/10 Low 6 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,612
• − Mortgage interest: −$4,201
• − Property taxes: −$370
• − Insurance: −$375
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$2,182
• Taxable income: $946
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $1,902/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.

Schools (NCES district)

• District: Alleghany County Schools
• NCES district ID: 3700120
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $34,855
• Composite: 35.12/100
• National rank: #5014
• State rank: #104 of 178 in NC

Livability — Lowgap

• Score: 39/100
• State rank: #733
• US rank: #27385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,927

Population outlook (Alleghany County) Hauer SSP2

• Today (2025): 10,103 people
• By 2030: 9,631 · -4.7%
• By 2040: 8,468 · -16.2%
• By 2050: 7,334 · -27.4%
• By 2075: 5,239 · -48.1%
• By 2100: 3,962 · -60.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 22% Two or more races 10%
• Hispanic origin (detail): Mexican 19% Cuban 3%
• Common ancestry: Serbian 4% Iranian 2% Slovak 2%
• Foreign-born: 13% · Canada
• Languages at home: 78% English-only · Spanish 22%

Political lean MEDSL · Alleghany

• 2024 margin: Solid R (+52.0) · D 23.7% · R 75.6%
• 2008→2024 swing: -31.0pp toward R · 2008: -21.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.0 2016: R+47.7 2012: R+35.9 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.13%
• Current HPI: 186.4984
• 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

• 2026-06-17 Listed $75,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2025): $370 · -2.3% YoY. Source: county tax records.