138 Hemlock St · Mocksville, NC 27028

$125,000

2 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 31 Days on market

Built 1939 0.42 ac lot Est $201k · 38% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in the heart of Mocksville! This 2-bedroom, 1,081 sq ft home offers a prime location with close proximity to downtown Mocksville — shops, dining, and amenities all within easy reach. Full of potential and priced to move, this property is being sold as-is and is the perfect opportunity for investors, flippers, or savvy buyers looking to add value. Don’t miss your chance to capitalize on a great location at an investor-friendly price! Use caution when on the property!

Key facts

• Prime location
• 0.42 acre lot
• Built 1939

Tags

• PRIME LOCATION
• CLOSE PROXIMITY TO DOWNTOWN
• SHOPS DINING AMENITIES

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No garage; No designated parking features
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One level
• Construction: Site-built wood construction; Crawl space foundation
• Exterior features: Outbuilding; Paved road frontage; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Oil heating; Window air conditioning units
• Interior features: 7 rooms; Living room fireplace
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.0% in Mocksville — 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 73/100 on livability (#68 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D, amenities F.
• Davie County Schools (rural): math 51% / reading 52% proficiency, ranked #57 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mocksville Elementary (math 46% / reading 44%, grade D-, #568 of 1,410 statewide, top 41%, 548 students, 66% FRL); Davie County High (math 62% / reading 62%, grade B-, #184 of 535 statewide, top 37%, 1,770 students, 42% FRL) — zoned schools average 54% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 219 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 250 units permitted in Davie County in 2024 (65 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Davie County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.
• Current owner paid $22k; list at $125k implies a 468% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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 D-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: 1.45% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.53%
• DSCR: 2.05
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $200,528
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Neely St	0.41mi	3/1.0 (+1)	1,296 (-2%)	10mo	$148,000	$114	63
112 Foster St	0.40mi	3/2.0 (+1)	1,377 (+4%)	9mo	$179,900	$131	58
264 Ken Dwiggins Dr	0.34mi	3/2.0 (+1)	1,220 (-8%)	14mo	$210,000	$172	50
141 E Lexington Rd	0.67mi	2/1.0	1,243 (-6%)	12mo	$245,000	$197	48
378 Pine St	0.40mi	3/2.0 (+1)	1,189 (-10%)	15mo	$180,000	$151	42
248 Wilkesboro St	0.68mi	3/1.5 (+1)	1,268 (-4%)	21mo	$115,000	$91	36
398 Pine St	0.42mi	3/2.0 (+1)	1,196 (-10%)	22mo	$127,000	$106	36
128 Edison St	0.70mi	3/2.0 (+1)	1,140 (-14%)	20mo	$210,000	$184	18

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

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $23,408
• Equity at exit: $18,638

10-year hold

• IRR: 25.1%
• Equity multiple: 3.19×
• Total profit: $76,479
• Equity at exit: $10,808

Cash invested: $35,000 (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 27028

• Home prices YoY: -23.8%
• Active inventory: 219
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,810 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$36 /mo · $436/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $686

Break-even live

Break-even rent $942

Max offer price $125,000

Occupancy floor 57%

Sensitivity live

Price	-10% $757	-5% $722	+0% $686	+5% $651	+10% $616
Rent	-10% $543	-5% $615	+0% $686	+5% $758	+10% $829
Rate	-1.0pp $749	-0.5pp $718	base $686	+0.5pp $654	+1.0pp $621

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Spring St Mocksville, NC	3.0	2.0	1405	$1,750	$1.25	24d	1	0.23mi
275 Milling Rd Mocksville, NC	2.0	2.0	1056	$1,500	$1.42	24d	1	0.61mi
246 Winding Creek Rd Mocksville, NC	3.0	2.0	1441	$1,825	$1.27	15d	1	1.12mi

Listing history 20 events

1. 2026-06-18
   days on market $125,000 Active 31 DOM
2. 2026-06-17
   days on market $125,000 Active 30 DOM
3. 2026-06-16
   days on market $125,000 Active 29 DOM
4. 2026-06-15
   days on market $125,000 Active 28 DOM
5. 2026-06-14
   days on market $125,000 Active 26 DOM
6. 2026-06-10
   days on market $125,000 Active 23 DOM
7. 2026-06-09
   days on market $125,000 Active 22 DOM
8. 2026-06-08
   days on market $125,000 Active 21 DOM
9. 2026-06-07
   days on market $125,000 Active 20 DOM
10. 2026-06-03
    days on market $125,000 Active 16 DOM
11. 2026-06-02
    days on market $125,000 Active 15 DOM
12. 2026-06-01
    days on market $125,000 Active 14 DOM
13. 2026-05-31
    days on market $125,000 Active 13 DOM
14. 2026-05-31
    days on market $125,000 Active 12 DOM
15. 2026-05-21
    status Active
16. 2026-05-20
    status Active 499-char remark

    Show marketing remark (499 chars)

    Investor special in the heart of Mocksville! This 2-bedroom, 1,081 sq ft home offers a prime location with close proximity to downtown Mocksville — shops, dining, and amenities all within easy reach. Full of potential and priced to move, this property is being sold as-is and is the perfect opportunity for investors, flippers, or savvy buyers looking to add value. Don’t miss your chance to capitalize on a great location at an investor-friendly price! Use caution when on the property!

17. 2026-04-23
    historical 499-char remark

    Show marketing remark (499 chars)

    Investor special in the heart of Mocksville! This 2-bedroom, 1,081 sq ft home offers a prime location with close proximity to downtown Mocksville — shops, dining, and amenities all within easy reach. Full of potential and priced to move, this property is being sold as-is and is the perfect opportunity for investors, flippers, or savvy buyers looking to add value. Don’t miss your chance to capitalize on a great location at an investor-friendly price! Use caution when on the property!

18. 2026-04-21
    listed $125,000 Active
19. 2026-04-20
    listed $125,000 Active 499-char remark

    Show marketing remark (499 chars)

    Investor special in the heart of Mocksville! This 2-bedroom, 1,081 sq ft home offers a prime location with close proximity to downtown Mocksville — shops, dining, and amenities all within easy reach. Full of potential and priced to move, this property is being sold as-is and is the perfect opportunity for investors, flippers, or savvy buyers looking to add value. Don’t miss your chance to capitalize on a great location at an investor-friendly price! Use caution when on the property!

20. 1984-10-22
    soldstatus $22,000

ⓘ 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: $436 · $36/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$589/yr (+$49/mo · 135.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,724
• − Mortgage interest: −$7,002
• − Property taxes: −$436
• − Insurance: −$625
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$3,636
• Taxable income: $6,550
• Est. tax owed @ 24.0%: −$1,572
• After-tax cash flow: $6,664/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: Davie County Schools
• NCES district ID: 3701170
• Math proficiency: 51% ▲ 2.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $51,331
• Composite: 44.16/100
• National rank: #2860
• State rank: #57 of 178 in NC

Livability — Mocksville

• Score: 73/100
• State rank: #68
• US rank: #5153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mocksville, NC
• County: Davie County · 42,813 people
• City population: 26,566
• Metro: Winston-Salem, NC
• Population (ZIP): 26,566
• Household income: $69,137
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 512.0

Population outlook (Davie County) Hauer SSP2

• Today (2025): 42,613 people
• By 2030: 42,691 · +0.2%
• By 2040: 42,137 · -1.1%
• By 2050: 40,445 · -5.1%
• By 2075: 35,939 · -15.7%
• By 2100: 29,103 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 9% German/W. Germanic 1%

Political lean MEDSL · Davie

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.6% · Other 1.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -38.3pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.5 2016: R+48.1 2012: R+43.7 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.58%
• Current HPI: 191.2464
• Rent YoY: —
• Metro: Winston-Salem, NC
• 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

+468.2% since first listed

6 events — show timeline

• 2026-05-21 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-20 Relisted — Triad MLS
• 2026-04-23 Delisted — Triad MLS
• 2026-04-21 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Listed $125,000 Triad MLS
• 1984-10-22 Sold (Public Records) $22,000 Public Records

Property tax history

-5.4%/yr

Latest (2025): $436 · -48.7% YoY. Source: county tax records.