441 Reddie Rd · Mayodan, NC 27048

$59,000

3 bd · 2.0 ba · 920 sqft · Manufactured · 21 Days on market

Built 1985 1.76 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Almost 2 acres of beautiful, private land ready for your vision! This 3-bedroom, 2-bath home offers a starting point, but the true value is in the expansive, tree-lined property. Whether you're looking to renovate, build new, or create your own private retreat, this property gives you the space and freedom to make it happen. A rare opportunity to own acreage with endless potential! When driving to the house, turn left at the black mailbox labeled #451 then turn left up the driveway.

Key facts

• Private land
• Expansive property
• Tree-lined property

Tags

• PRIVATE LAND
• EXPANSIVE PROPERTY
• TREE-LINED PROPERTY

Property features AI

Finance

• Other: Located on a public maintained road
• HOA & community: No homeowners association

Exterior

• Parking: Driveway parking; Field/gravel parking area
• Utilities: Well water; Septic tank sewer; Electric service
• Home design: Manufactured home (single wide); One story; Built in 1985; Living room with fireplace
• Construction: Vinyl siding; Crawl space foundation; Shipped/installed as an existing manufactured house
• Exterior features: Partially wooded, secluded lot; No pool; No fencing indicated

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Bedrooms on main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (electric); Window air conditioning units
• Interior features: Ceiling fan(s); Primary bedroom on main level
• Laundry & utility: Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 3.7% in Mayodan — 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 60/100 on livability (#523 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: crime C-, schools F, amenities F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 72 active listings in the ZIP; 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $58,115 (1.5% 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. 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?
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: 1.76% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.24%
• DSCR: 2.52
• GRM: 4.7

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: 29.6%
• Equity multiple: 2.24×
• Total profit: $20,445
• Equity at exit: $8,797

10-year hold

• IRR: 36.9%
• Equity multiple: 4.41×
• Total profit: $56,386
• Equity at exit: $5,101

Cash invested: $16,520 (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 27048

• Home prices YoY: -19.0%
• Active inventory: 72
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,040 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$16 /mo · $198/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $471

Break-even live

Break-even rent $444

Max offer price $59,000

Occupancy floor 50%

Sensitivity live

Price	-10% $505	-5% $488	+0% $471	+5% $455	+10% $438
Rent	-10% $389	-5% $430	+0% $471	+5% $513	+10% $554
Rate	-1.0pp $501	-0.5pp $486	base $471	+0.5pp $456	+1.0pp $441

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-02
   status Pending
2. 2026-04-18
   historical Due Diligence Period
3. 2026-04-10
   listed $59,000 Active

ⓘ 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: $198 · $16/mo
• Projected year-2 tax: $484 · $40/mo
• Expected delta: +$286/yr (+$24/mo · 144.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% 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: $12,484
• − Mortgage interest: −$3,305
• − Property taxes: −$198
• − Insurance: −$295
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$1,716
• Taxable income: $4,973
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $4,464/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Mayodan

• Score: 60/100
• State rank: #523
• US rank: #19383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,409

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 13% Hispanic / Latino 9% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Slovak 3% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.69%
• Current HPI: 220.1941
• 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

3 events — show timeline

• 2026-05-02 Pending — Triad MLS
• 2026-04-18 Contingent — Triad MLS
• 2026-04-10 Listed $59,000 Triad MLS

Property tax history

-0.5%/yr

Latest (2025): $198 · +3.7% YoY. Source: county tax records.