232 Shelby Rd · Lawndale, NC 28090

$20,000

2 bd · 1.0 ba · 1,120 sqft · Manufactured public records · 51 Days on market

Built 1994 1.00 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Older singlewide on 1 acre lot in Lawndale. Singlewide hasn't been lived in for a few years. No driveway. Court ordered ten day upset sale. Guideline for upset sales will be in documents. Call listing agent with any questions.

Key facts

• 1 acre lot
• Built 1994
• Listed 50 days

Property features AI

Finance

• Other: Zoning: R
• HOA & community: No HOA

Exterior

• Parking: Two open parking spaces; Parking described as: Other (see remarks)
• Utilities: County water; Septic system installed; Publicly maintained paved road access
• Home design: Manufactured singlewide residential home; One story; Crawl space foundation
• Construction: Manufactured construction; Construction materials: Other (see remarks); Roof: Other (see remarks)
• Exterior features: Exterior features: Other (see remarks)

Interior

• Kitchen: No appliances included
• Bedrooms: Two bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: Six total rooms; Vinyl flooring
• Laundry & utility: No laundry hookups/features specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#669 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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.
7. 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.
8. 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: 9.02% ✓
• Cap rate: 83.54%
• Cash-on-cash: 275.88%
• DSCR: 13.27
• GRM: 0.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 15.07×
• Total profit: $78,783
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 32.12×
• Total profit: $174,297
• Equity at exit: $1,729

Cash invested: $5,600 (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 28090

• Home prices YoY: -3.4%
• Active inventory: 39
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $1,287

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 24%

Sensitivity live

Price	-10% $1,301	-5% $1,294	+0% $1,287	+5% $1,281	+10% $1,274
Rent	-10% $1,145	-5% $1,216	+0% $1,287	+5% $1,359	+10% $1,430
Rate	-1.0pp $1,297	-0.5pp $1,293	base $1,287	+0.5pp $1,282	+1.0pp $1,277

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $20,000 Active 51 DOM
2. 2026-06-18
   days on market $20,000 Active 50 DOM
3. 2026-06-17
   days on market $20,000 Active 49 DOM
4. 2026-06-16
   days on market $20,000 Active 48 DOM
5. 2026-06-15
   days on market $20,000 Active 47 DOM
6. 2026-06-14
   days on market $20,000 Active 45 DOM
7. 2026-06-13
   days on market $20,000 Active 44 DOM
8. 2026-06-10
   days on market $20,000 Active 42 DOM
9. 2026-06-09
   days on market $20,000 Active 41 DOM
10. 2026-06-08
    days on market $20,000 Active 40 DOM
11. 2026-06-07
    days on market $20,000 Active 39 DOM
12. 2026-06-05
    days on market $20,000 Active 36 DOM
13. 2026-06-03
    days on market $20,000 Active 35 DOM
14. 2026-06-02
    days on market $20,000 Active 34 DOM
15. 2026-06-01
    days on market $20,000 Active 33 DOM
16. 2026-05-31
    days on market $20,000 Active 32 DOM
17. 2026-05-30
    days on market $20,000 Active 31 DOM
18. 2026-04-29
    listed $20,000 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,655
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$582
• Taxable income: $16,088
• Est. tax owed @ 24.0%: −$3,861
• After-tax cash flow: $11,588/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Lawndale

• Score: 54/100
• State rank: #669
• US rank: #24044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawndale, NC
• Population (ZIP): 7,422

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 12% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.65%
• Current HPI: 335.97
• 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

• 2026-04-29 Listed $20,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-6.9%/yr

Latest (2025): $40 · -15.4% YoY. Source: county tax records.