5028 NC 109 Hwy S · Mount Gilead, NC 27306

$165,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 91 Days on market

Built 1968 0.46 ac lot ↓ 8% 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 +16.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Appreciation +4.5/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

* * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

Key facts

• 0.46 acre lot
• Parking
• Built 1968

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport; Carport provides 1 covered space; No main-level garage
• Utilities: County water; Septic system installed; Electric service for heating and cooling
• Home design: Single-family residence; Residential zoning (Residential 2); One story; Crawl space foundation; Site-built construction; Vinyl exterior
• Construction: Site-built; vinyl siding
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Dishwasher; One main living room (room count: 1)
• Laundry & utility: Laundry located in the carport

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $94 ($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 $156k (5.3% below list).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#58 in NC, #4,548 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mount Gilead Elementary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 213 students, 87% FRL); Montgomery Central High (math 42% / reading 39%, grade F, #387 of 535 statewide, top 73%, 893 students, 73% FRL).
• Market conditions: 113 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.87×
• Total profit: $-5,945
• Equity at exit: $40,319

10-year hold

• IRR: 3.7%
• Equity multiple: 1.36×
• Total profit: $16,555
• Equity at exit: $42,757

Cash invested: $46,200 (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 27306

• Home prices YoY: -0.3%
• Active inventory: 113
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $94

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 89%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $165,000 Active 91 DOM
2. 2026-06-17
   days on market $165,000 Active 90 DOM
3. 2026-06-16
   days on market $165,000 Active 89 DOM
4. 2026-06-15
   days on market $165,000 Active 88 DOM
5. 2026-06-14
   days on market $165,000 Active 86 DOM
6. 2026-06-13
   days on market $165,000 Active 85 DOM
7. 2026-06-10
   days on market $165,000 Active 83 DOM
8. 2026-06-09
   days on market $165,000 Active 82 DOM
9. 2026-06-08
   days on market $165,000 Active 81 DOM
10. 2026-06-07
    days on market $165,000 Active 80 DOM
11. 2026-06-05
    days on market $165,000 Active 77 DOM
12. 2026-06-03
    days on market $165,000 Active 76 DOM
13. 2026-06-02
    days on market $165,000 Active 75 DOM
14. 2026-06-01
    days on market $165,000 Active 74 DOM
15. 2026-05-31
    days on market $165,000 Active 73 DOM
16. 2026-05-31
    days on market $165,000 Active 72 DOM
17. 2026-03-20
    listed $165,000 Active
18. 2026-03-13
    historical $165,000
19. 2023-12-28
    soldstatus $149,900 Closed 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

20. 2023-12-07
    historical Active Under Contract 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

21. 2023-12-01
    price $149,900 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

22. 2023-11-06
    status Active 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

23. 2023-09-22
    historical Active Under Contract 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

24. 2023-09-11
    price $159,900 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

25. 2023-07-28
    listed $179,900 Active 403-char remark

    Show marketing remark (403 chars)

    * * Property back on market at no fault of property/seller. * * This recently renovated, 3 bedroom, 1 bath property is ready for you to make it your home. Renovation included new roof, new HVAC, windows, vinyl siding & hot water heater. Each room has been updated with new flooring & fresh paint & trim. Conveniently located along Highway 109 S with surrounding area being lots of farmland.

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% 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: $18,750
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − Depreciation: −$4,800
• Taxable loss: −$1,592
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $1,512/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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Mount Gilead

• Score: 74/100
• State rank: #58
• US rank: #4548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,457

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 26,533 people
• By 2030: 25,724 · -3.0%
• By 2040: 23,842 · -10.1%
• By 2050: 22,077 · -16.8%
• By 2075: 18,754 · -29.3%
• By 2100: 15,537 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Asian 6% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 6% · China, Canada, Philippines
• Languages at home: 92% English-only · Other Asian/Pacific 5% Spanish 2% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+37.8) · D 30.8% · R 68.6%
• 2008→2024 swing: -26.9pp toward R · 2008: -11.0pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+31.8 2016: R+25.9 2012: R+15.2 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.94%
• Current HPI: 334.2599
• 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

-8.3% since first listed

9 events — show timeline

• 2026-03-20 Listed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-13 Coming Soon $165,000 CANOPYMLS as Distributed by MLS Grid
• 2023-12-28 Sold (MLS) $149,900 CANOPYMLS as Distributed by MLS Grid
• 2023-12-07 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-12-01 Price Changed $149,900 CANOPYMLS as Distributed by MLS Grid
• 2023-11-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-09-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-09-11 Price Changed $159,900 CANOPYMLS as Distributed by MLS Grid
• 2023-07-28 Listed $179,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.3%/yr

Latest (2025): $243 · +0.0% YoY. Source: county tax records.