178 Wildwood Acres Cir · Mooresville, NC 28115

$275,000

3 bd · 2.0 ba · 1,620 sqft · SingleFamily public records · 61 Days on market

Built 1992 0.75 ac lot Est $262k · at est.

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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 +20.0/30.0
• DSCR +6.3/10.0
• ARV discount +5.3/15.0
• Schools +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3 bed/ 2 bath modular home on approximately 0.75 acres tucked near a cul-de-sac. Bright, open layout with a spacious living room and cozy gas fireplace. Kitchen features a large island, ample cabinet space, and room for dining! Split bedroom floor plan offers privacy, with a spacious primary suite including a garden tub and separate shower. Two additional bedrooms share a full bath on the opposite side. Laundry room conveniently located off the kitchen. Enjoy the outdoors on the large back deck overlooking your large backyard. Newer HVAC and plenty of space to spread out. Convenient location near shopping and dining!

Key facts

• Cozy gas fireplace
• Large island
• Ample cabinet space

Tags

• CUL-DE-SAC
• SPACIOUS LIVING ROOM
• COZY GAS FIREPLACE
• LARGE ISLAND
• AMPLE CABINET SPACE
• SPLIT BEDROOM FLOOR PLAN

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Well water; Septic system
• Home design: Residential single-family home; Off-frame modular construction; One story; Crawl space foundation
• Construction: Vinyl siding; Composition roof
• Exterior features: Deck; Front porch; Wooded lot; Gravel, paved, and other road surfaces; Private maintained road

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Refrigerator; Kitchen island
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning (electric)
• Interior features: Built-in features; Garden tub; Kitchen island; Split bedroom plan; Storage
• Laundry & utility: Laundry room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/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 $252k (8.5% below list).
• Recommended offer: $252k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 2.9% in Mooresville — 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 (#66 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Coddle Creek Elementary (math 71% / reading 68%, grade A-, #95 of 1,410 statewide, top 7%, 696 students, 27% FRL); Lake Norman High (math 78% / reading 71%, grade B+, #92 of 535 statewide, top 18%, 1,986 students, 16% FRL) — zoned schools average 22% FRL vs 38% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 52% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Iredell-Statesville Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 488 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 34% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $275k implies a 237% gain — meaningful room to come down on a strong offer.

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 $251,760 (8.5% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.92% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $262,440
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 Mill Pond Ln	0.52mi	4/2.0 (+1)	1,456 (-10%)	0mo	$194,500	$134	54
105 Timberview Ln	0.40mi	3/2.0	1,788 (+10%)	14mo	$290,000	$162	52
119 Martingale Ave	0.61mi	3/2.0	1,809 (+12%)	2mo	$425,000	$235	50

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-26,774
• Equity at exit: $41,003

10-year hold

• IRR: -2.1%
• Equity multiple: 0.87×
• Total profit: $-10,306
• Equity at exit: $23,777

Cash invested: $77,000 (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 28115

• Rents YoY: 1.6%
• Active inventory: 488
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,518 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $337

Break-even live

Break-even rent $2,091

Max offer price $275,000

Occupancy floor 82%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11111 Mill Spring Ln Concord, NC	1.0–2.0	1.0–2.0	912	$2,000	$2.19	1d	124	0.51mi
136 Madelia Pl Mooresville, NC	4.0	2.5	2053	$2,295	$1.12	1d	1	0.98mi
19020 Potts Park Ln Davidson, NC	1.0–3.0	1.0–2.0	1102	$3,674	$3.33	1d	57	1.03mi

Listing history 19 events

1. 2026-06-18
   days on market $275,000 Active 61 DOM
2. 2026-06-17
   days on market $275,000 Active 60 DOM
3. 2026-06-16
   days on market $275,000 Active 59 DOM
4. 2026-06-15
   days on market $275,000 Active 58 DOM
5. 2026-06-13
   days on market $275,000 Active 56 DOM
6. 2026-06-13
   days on market $275,000 Active 55 DOM
7. 2026-06-09
   days on market $275,000 Active 52 DOM
8. 2026-06-08
   days on market $275,000 Active 51 DOM
9. 2026-06-07
   days on market $275,000 Active 50 DOM
10. 2026-06-04
    days on market $275,000 Active 47 DOM
11. 2026-06-03
    days on market $275,000 Active 46 DOM
12. 2026-06-02
    days on market $275,000 Active 45 DOM
13. 2026-06-01
    days on market $275,000 Active 44 DOM
14. 2026-05-31
    days on market $275,000 Active 43 DOM
15. 2026-05-14
    price $275,000
16. 2026-04-29
    price $280,000
17. 2026-04-18
    listed $295,000 Active
18. 2017-05-30
    soldstatus $81,500
19. 1990-07-01
    soldstatus $10,000

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $2,255 · $188/mo
• Expected delta: +$1,110/yr (+$92/mo · 96.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,211
• − Mortgage interest: −$15,404
• − Property taxes: −$1,145
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,417
• − Management: −$2,417
• − Depreciation: −$8,000
• Taxable loss: −$547
• Est. tax savings @ 24.0%: +$131
• After-tax cash flow: $4,173/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Mooresville

• Score: 73/100
• State rank: #66
• US rank: #5026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 92,370
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+2650.0% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $280,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-18 Listed $295,000 CANOPYMLS as Distributed by MLS Grid
• 2017-05-30 Sold (Public Records) $81,500 Public Records
• 1990-07-01 Sold (Public Records) $10,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,145 · +0.0% YoY. Source: county tax records.