247 Loganberry Ln · Hayesville, NC 28904

$199,900

2 bd · 2.0 ba · 912 sqft · Manufactured · 17 Days on market

Built 2024 Good condition 1.07 ac lot Est $225k · 11% under

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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 +15.5/30.0
• ARV discount +12.6/15.0
• Appreciation +5.6/10.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0

Listing remarks

Public Remarks: 2 Bedroom 2 Bath on 1.07+/- acres in a beautiful community is finally here! With all NEWER Appliances. Fiber Optic now available! Nicely Oaks is located near the Ingle's Grocery in Hayesville, and is very close to Chatuge Boat Ramp, Chatuge shores for the avid golfers, 30 min +/- from the Casino in Murphy! This is a must see- beautiful scenery, an abundance of wildlife -This home has beautiful drywall throughout, DuraCraft Cabinets, Frigidaire stainless steel appliances ( * * everything but furniture, microwave & washer & dryer * * ), Craftsman style front door, Ecobee Smart Thermostat, double pane windows & window treatments, w/ 2 in blinds, and c

Key facts

• Newer appliances
• Duracraft cabinets
• Double pane windows

Tags

• NEWER APPLIANCES
• FIBER OPTIC AVAILABLE
• DURACRAFT CABINETS
• CRAFTSMAN STYLE FRONT DOOR
• ECOBEE SMART THERMOSTAT
• DOUBLE PANE WINDOWS

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Shared well water; Septic tank sewer
• Home design: Manufactured home; Single-story; Residential property; Located in Nicely Oaks subdivision; Deed restricted
• Construction: Vinyl siding
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 5 total rooms (bedrooms included in room count)
• Flooring: Vinyl floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric heating; Central air conditioning
• Interior features: Electric water heater; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $80 ($960/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 $185k (7.5% below list).
• Recommended offer: $185k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.5% in Hayesville — 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 67/100 on livability (#209 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: housing C-, crime F, amenities F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 692 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.2% local appreciation)).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $185,000 (7.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.93% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $225,264
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Windswept Ln	0.08mi	2/2.0	912 (0%)	11mo	$224,900	$247	87
167 Loganberry Ln	0.09mi	2/2.0	912 (0%)	14mo	$224,900	$247	84
121 Loganberry Ln	0.13mi	2/2.0	900 (-1%)	16mo	$219,900	$244	78
75 Windswept Ln	0.08mi	2/2.0	900 (-1%)	20mo	$214,900	$239	77
58 Windswept Ln	0.10mi	2/2.0	900 (-1%)	23mo	$229,900	$255	74

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

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.20×
• Total profit: $11,224
• Equity at exit: $70,754

10-year hold

• IRR: 8.1%
• Equity multiple: 2.02×
• Total profit: $56,926
• Equity at exit: $95,999

Cash invested: $55,972 (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 28904

• Home prices YoY: 0.4%
• Active inventory: 692
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $80

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 91%

Sensitivity live

Price	-10% $218	-5% $149	+0% $80	+5% $11	+10% $-58
Rent	-10% $-66	-5% $7	+0% $80	+5% $153	+10% $226
Rate	-1.0pp $181	-0.5pp $131	base $80	+0.5pp $28	+1.0pp $-24

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 Cherrywood Cir Hayesville, NC	2.0	1.0	1100	$1,850	$1.68	15d	1	0.48mi

Listing history 21 events

1. 2026-06-18
   days on market $199,900 Active 17 DOM
2. 2026-06-17
   days on market $199,900 Active 16 DOM
3. 2026-06-16
   days on market $199,900 Active 15 DOM
4. 2026-06-15
   days on market $199,900 Active 14 DOM
5. 2026-06-14
   days on market $199,900 Active 12 DOM
6. 2026-06-13
   days on market $199,900 Active 11 DOM
7. 2026-06-10
   days on market $199,900 Active 9 DOM
8. 2026-06-09
   days on market $199,900 Active 8 DOM
9. 2026-06-08
   days on market $199,900 Active 7 DOM
10. 2026-06-07
    days on market $199,900 Active 6 DOM
11. 2026-06-03
    pricedays on market $199,900 Active 2 DOM
12. 2026-06-02
    days on marketlisting id $209,900 Active 1 DOM
13. 2026-06-01
    days on market $209,900 Active 138 DOM
14. 2026-05-31
    days on market $209,900 Active 137 DOM
15. 2026-05-31
    days on market $209,900 Active 136 DOM
16. 2026-01-14
    listed $209,900 Active
17. 2025-10-02
    historical
18. 2025-08-21
    price $209,900
19. 2025-06-27
    price $214,900
20. 2025-05-31
    price $219,900
21. 2025-04-29
    listed $209,900 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,200
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,815
• Taxable loss: −$2,363
• Est. tax savings @ 24.0%: +$567
• After-tax cash flow: $1,527/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home is in excellent condition with newer appliances and a well-maintained exterior. It's move-in ready with minor updates to enhance curb appeal and safety.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Resale Replace window treatments — Improves home's aesthetic
• Both Install smart home security system — Enhances safety and convenience

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Resale Replace window treatments — Improves home's aesthetic ↑
• Both Install smart home security system — Enhances safety and convenience ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Clay County Schools
• NCES district ID: 3700870
• Math proficiency: 47% ▲ 5.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $37,205
• Composite: 40.31/100
• National rank: #3751
• State rank: #73 of 178 in NC

Livability — Hayesville

• Score: 67/100
• State rank: #209
• US rank: #10111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,614

Population outlook (Clay County) Hauer SSP2

• Today (2025): 10,855 people
• By 2030: 10,820 · -0.3%
• By 2040: 10,527 · -3.0%
• By 2050: 10,099 · -7.0%
• By 2075: 9,094 · -16.2%
• By 2100: 7,834 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 6% Slovak 3% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+50.1) · D 24.6% · R 74.7%
• 2008→2024 swing: -14.5pp toward R · 2008: -35.6pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+49.5 2016: R+51.7 2012: R+42.5 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 338.2524
• 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

+0.0% since first listed

6 events — show timeline

• 2026-01-14 Listed $209,900 MLBOR
• 2025-10-02 Listing Removed — GAMLS
• 2025-08-21 Price Changed $209,900 MLBOR
• 2025-06-27 Price Changed $214,900 MLBOR
• 2025-05-31 Price Changed $219,900 MLBOR
• 2025-04-29 Listed $209,900 GAMLS