572 Blue Ridge Gem Stone Rd · Spruce Pine, NC 28777

$149,500

2 bd · 2.0 ba · 980 sqft · Manufactured public records · 5 Days on market

Built 1993 1.30 ac lot ↓ 17% 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +0.8/10.0

Listing remarks MLS

Searching for an affordable Mountain Adventure, Tranquility, Comfort, New Lifestyle? Endless Recreational opportunities at your doorstep? Your Gem in the Blue Ridge Mountains is waiting! Located in the heart of the highest mountain range east of the Rockies—property offers great Black Mountain range view! This Inviting 14 x 70 Well-kept single-wide home is nestled on a serene 1.3-acre lot; bright & airy open-concept, Vaulted ceilings, 2 bedrooms, 2 full baths, partially furnished & ready for Your personal touch; central HVAC for year-round comfort, accessibility ramp; Warm and welcoming Living Room offers the perfect place to relax, unwind and feel right at home. Large double windows allow natural light to fill the room. Decorative details, includes crown and chair-rail trim while built-in shelving and cabinetry provide practical storage. The room flows naturally into the kitchen and dining area making it ideal for entertaining, The kitchen/dining area is partially visible through an open doorway, giving the home a connected layout. Kitchen has a classic, vintage style. The cabinetry features a rich, dark wood finish with a polished, glossy surface and gold-toned hardware, providing an elegant yet traditional feel. The cabinets are designed with glass-paneled doors, showcasing a touch of refinement and making it easy to display china or other decorative items. The countertops are a neutral light gray with a marbled pattern. The space is well-organized with plenty of counter space for food preparation and the layout includes essential appliances such as a white electric stove and a microwave, providing functional kitchen basics. Overall, this kitchen embraces a nostalgic style, blending classic cabinetry, functional features and decorative touches for a welcoming space. Located next door to Emerald Village, North Carolina’s #1 gem mining attraction; Convenient to downtown Spruce Pine, the scenic Toe River, the Blue Ridge Parkway & Little Switzerland, 1-hour drive to Asheville; Endless recreational opportunities at your doorstep-Your Launchpad for Mountain Adventures! Perfect full-time residence, cozy vacation retreat or lucrative VRBO investment; Schedule a viewing and start living your dream!

Key facts

• Central hvac
• Living room
• Kitchen dining area

Tags

• 1.3 ACRE LOT
• CENTRAL HVAC
• ACCESSIBILITY RAMP
• LIVING ROOM
• BUILT-IN SHELVING
• KITCHEN DINING AREA

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Shared well water; Septic system; Electricity connected; Propane available; Cable available
• Home design: Manufactured singlewide home; Single-family residence; One story; Crawl space foundation; Facing direction not specified
• Construction: Manufactured construction; Vinyl exterior
• Exterior features: Deck; Private, wooded lot with views; Rolling slope terrain; Gravel road access (private maintained road)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (oil); Central air; Heat pump; Ceiling fans; Electric cooling components
• Interior features: Garden tub; Open floorplan; Ceiling fans; Vaulted ceilings; No interior steps; Main-level ramp access
• Laundry & utility: Washer and dryer hookups inside; Electric dryer hookup; Mud room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (41.8% below list).
• Recommended offer: $87k (41.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 1.7% in Spruce Pine — 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 80/100 on livability (#19 in NC, #1,753 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Mitchell County Schools (rural): math 45% / reading 47% proficiency, ranked #87 of 178 in NC (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gouge Elementary (math 52% / reading 47%, grade D, #417 of 1,410 statewide, top 32%, 227 students, 63% FRL); Harris Middle (math 43% / reading 52%, grade C-, #140 of 475 statewide, top 30%, 236 students, 63% FRL); Mitchell High (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 497 students, 50% FRL).
• Market conditions: 133 active listings in the ZIP; 44 units permitted in Mitchell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Mitchell County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,036 (41.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.58% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• GRM: 14.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 2.66×
• Total profit: $69,459
• Equity at exit: $134,681

10-year hold

• IRR: 18.6%
• Equity multiple: 6.11×
• Total profit: $213,717
• Equity at exit: $290,446

Cash invested: $41,860 (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 28777

• Home prices YoY: 3.7%
• Active inventory: 133
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $870 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $-187

Break-even live

Break-even rent $1,106

Max offer price $116,554

Occupancy floor —

Sensitivity live

Price	-10% $-102	-5% $-144	+0% $-187	+5% $-229	+10% $-271
Rent	-10% $-255	-5% $-221	+0% $-187	+5% $-152	+10% $-118
Rate	-1.0pp $-111	-0.5pp $-148	base $-187	+0.5pp $-225	+1.0pp $-265

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $149,500 Active 5 DOM
2. 2026-06-21
   days on market $149,500 Active 4 DOM
3. 2026-06-18
   days on market $149,500 Active 2 DOM
4. 2026-06-17
   remarks 685-char remark
5. 2026-06-17
   listed $149,500 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: $334 · $28/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$892/yr (+$74/mo · 267.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,444
• − Mortgage interest: −$8,374
• − Property taxes: −$334
• − Insurance: −$748
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$4,349
• Taxable loss: −$5,031
• Est. tax savings @ 24.0%: +$1,208
• After-tax cash flow: $-1,031/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: Mitchell County Schools
• NCES district ID: 3703000
• Math proficiency: 45% ▲ 4.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $37,795
• Composite: 38.3/100
• National rank: #4231
• State rank: #87 of 178 in NC

Livability — Spruce Pine

• Score: 80/100
• State rank: #19
• US rank: #1753

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,368
• Population (ZIP): 10,368

Population outlook (Mitchell County) Hauer SSP2

• Today (2025): 14,295 people
• By 2030: 13,667 · -4.4%
• By 2040: 12,277 · -14.1%
• By 2050: 10,966 · -23.3%
• By 2075: 8,777 · -38.6%
• By 2100: 7,166 · -49.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 6% Slovak 4% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Mitchell

• 2024 margin: Solid R (+55.9) · D 21.7% · R 77.6%
• 2008→2024 swing: -14.3pp toward R · 2008: -41.6pp · 2024: -55.9pp
• All cycles: 2024: R+55.9 2020: R+57.8 2016: R+58.4 2012: R+51.7 2008: R+41.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.17%
• Current HPI: 315.0198
• 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

-16.9% since first listed

8 events — show timeline

• 2026-06-14 Listed $149,500 CANOPYMLS as Distributed by MLS Grid
• 2026-01-12 Sold (Public Records) $169,000 Public Records
• 2026-01-12 Sold (MLS) $169,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-10-22 Price Changed $169,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-21 Price Changed $177,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-22 Price Changed $178,900 CANOPYMLS as Distributed by MLS Grid
• 2025-07-10 Listed $179,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2025): $334 · +1.6% YoY. Source: county tax records.