792 Academy St · Franklinville, NC 27248

$169,900

2 bd · 1.0 ba · 969 sqft · SingleFamily public records · 34 Days on market

Built 1938 1.00 ac lot Est $177k · at est.

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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 +16.7/30.0
• ARV discount +9.4/15.0
• Appreciation +7.0/10.0
• DSCR +5.2/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

Key facts

• 1 acre lot
• 2 garage spots
• Built 1938

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Detached carport; Driveway and garage with garage door opener; 2 garage spaces
• Security: Deadbolt locks
• Utilities: Public water; Septic tank; Electric water heater; Propane gas for heating
• Home design: Residential stick/site-built house; One story; Built in 1938; Living room fireplace
• Construction: Block construction
• Exterior features: 1 acre lot (dimensions subject to survey); Public maintained road; Storage structure; No pool

Interior

• Kitchen: Free-standing range
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Propane (heating fuel)
• Interior features: Ceiling fans; Deadbolt locks; Attic access only; Primary bedroom on main level; Crawl space
• Laundry & utility: Washer hookup; Dryer connection; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $145k (14.5% below list).
• Recommended offer: $145k (14.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#451 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Randolph County School System (rural): math 43% / reading 43% proficiency, ranked #94 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.0% local appreciation)).
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $170k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,309 (14.5% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.86% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $177,327
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Academy St	0.68mi	2/1.0	941 (-3%)	23mo	$172,000	$183	44

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

Projected returns pro-forma

4.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.77×
• Total profit: $36,783
• Equity at exit: $86,629

10-year hold

• IRR: 14.1%
• Equity multiple: 3.31×
• Total profit: $110,060
• Equity at exit: $142,080

Cash invested: $47,572 (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 27248

• Home prices YoY: 1.6%
• Active inventory: 22
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$80 /mo · $961/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $106

Break-even live

Break-even rent $1,319

Max offer price $169,900

Occupancy floor 88%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-10
   status $169,900 Pending 34 DOM
2. 2026-06-09
   days on market $169,900 Due Diligence Period 34 DOM
3. 2026-06-08
   days on market $169,900 Due Diligence Period 33 DOM
4. 2026-06-07
   days on market $169,900 Due Diligence Period 32 DOM
5. 2026-06-05
   days on market $169,900 Due Diligence Period 29 DOM
6. 2026-06-03
   days on market $169,900 Due Diligence Period 28 DOM
7. 2026-06-02
   days on market $169,900 Due Diligence Period 27 DOM
8. 2026-06-01
   days on market $169,900 Due Diligence Period 26 DOM
9. 2026-05-31
   days on market $169,900 Due Diligence Period 25 DOM
10. 2026-05-31
    days on market $169,900 Due Diligence Period 24 DOM
11. 2026-05-19
    historical Due Diligence Period
12. 2026-05-16
    price $169,900
13. 2026-05-07
    listed $179,900 Active
14. 2026-05-06
    historical $179,900
15. 2020-05-01
    soldstatus $97,000 Closed 389-char remark

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

16. 2020-05-01
    soldstatus $97,000

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

17. 2020-03-29
    status Pending 389-char remark

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

18. 2020-03-24
    status Active 389-char remark

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

19. 2020-03-10
    status Pending 389-char remark

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

20. 2020-03-09
    listed $99,500 Active 389-char remark

    Show marketing remark (389 chars)

    Your chance to own a cute home on an acre of land with detached garage. Spacious kitchen with concrete countertops, new flooring in bathroom & fresh paint. Would make the perfect first time home, don't miss this chance to own a solid home. And did I mention it comes furnished, that's right move right in now! There is also an outbuilding that remains so there is opportunity galore!

ⓘ 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: $961 · $80/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$432/yr (+$36/mo · 44.9%)

ⓘ 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 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,437
• − Mortgage interest: −$9,517
• − Property taxes: −$961
• − Insurance: −$850
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$4,943
• Taxable loss: −$1,623
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $1,662/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: Randolph County School System
• NCES district ID: 3703780
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 43% ▲ 2.00%
• Median HH income: $43,490
• Composite: 36.37/100
• National rank: #4686
• State rank: #94 of 178 in NC

Livability — Franklinville

• Score: 62/100
• State rank: #451
• US rank: #16600

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,975

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Black 3% Two or more races 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.05%
• Current HPI: 258.7062
• 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

+70.8% since first listed

10 events — show timeline

• 2026-05-19 Contingent — Triad MLS
• 2026-05-16 Price Changed $169,900 Triad MLS
• 2026-05-07 Listed $179,900 Triad MLS
• 2026-05-06 Coming Soon $179,900 Triad MLS
• 2020-05-01 Sold (Public Records) $97,000 Public Records
• 2020-05-01 Sold (MLS) $97,000 TMLS
• 2020-03-29 Pending — TMLS
• 2020-03-24 Relisted — TMLS
• 2020-03-10 Pending — TMLS
• 2020-03-09 Listed $99,500 TMLS

Property tax history

+8.2%/yr

Latest (2025): $961 · +0.0% YoY. Source: county tax records.