1989 Haymeadow Rd · Hays, NC 28635

$125,000

3 bd · 2.0 ba · 1,709 sqft · SingleFamily public records · 45 Days on market

Built 1975 0.30 ac lot

---

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 +22.3/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

1700+ sf brick ranch on irregular flag lot. Located around 8 to 10 miles from North Wilkesboro, NC. Only one bedroom but room for two more. Two full baths. Will need to have some TLC. Priced as "as is" sale.

Key facts

• 0.3 acre lot
• Built 1975
• Listed 44 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Field parking
• Utilities: Public water; Septic sewer; Electric water heater; Oil fuel for heating
• Home design: Single-story house; Stick/site-built residential construction; Existing structure built in 1975
• Construction: Brick construction; One level; Built in 1975; Crawl space foundation; Den fireplace
• Exterior features: Public-maintained road access; Lot approximately 0.3 acres; No pool

Interior

• Kitchen: Electric water heater
• Bedrooms: Primary on main
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Oil-fired heating; No central cooling
• Interior features: Primary bedroom located on the main level; Den with a fireplace
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/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 $121k (3.3% below list).
• Recommended offer: $121k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 2.4% in Hays — 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 66/100 on livability (#265 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools F, amenities F, commute F.
• Wilkes County Schools (rural): math 55% / reading 50% proficiency, ranked #59 of 178 in NC (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 30 active listings in the ZIP; 134 units permitted in Wilkes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $6k appreciation (4.6% local appreciation)).
• Wilkes County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $120,901 (3.3% below list)

Questions for the listing agent

1. It's been on market 45 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 1975 — 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 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?
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: 0.97% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.04%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $293,948
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2296 Haymeadow Rd	0.40mi	3/2.0	1,699 (-1%)	24mo	$274,900	$162	61
2300 Haymeadow Rd	0.42mi	3/2.0	1,503 (-12%)	24mo	$259,000	$172	41

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

Projected returns pro-forma

4.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.11×
• Total profit: $38,972
• Equity at exit: $67,784

10-year hold

• IRR: 18.2%
• Equity multiple: 4.08×
• Total profit: $107,849
• Equity at exit: $114,538

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 28635

• Home prices YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$42 /mo · $505/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $205

Break-even live

Break-even rent $949

Max offer price $125,000

Occupancy floor 78%

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: —

Listing history 16 events

1. 2026-06-19
   days on market $125,000 Active 45 DOM
2. 2026-06-18
   days on market $125,000 Active 44 DOM
3. 2026-06-17
   days on market $125,000 Active 43 DOM
4. 2026-06-16
   days on market $125,000 Active 42 DOM
5. 2026-06-15
   days on market $125,000 Active 41 DOM
6. 2026-06-14
   days on market $125,000 Active 39 DOM
7. 2026-06-12
   pricedays on market $125,000 Active 38 DOM
8. 2026-06-09
   days on market $135,000 Active 35 DOM
9. 2026-06-08
   days on market $135,000 Active 34 DOM
10. 2026-06-07
    days on market $135,000 Active 33 DOM
11. 2026-06-03
    days on market $135,000 Active 29 DOM
12. 2026-06-02
    days on market $135,000 Active 28 DOM
13. 2026-06-01
    days on market $135,000 Active 27 DOM
14. 2026-05-31
    days on market $135,000 Active 26 DOM
15. 2026-05-30
    days on market $135,000 Active 25 DOM
16. 2026-05-05
    listed $135,000 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: $505 · $42/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$520/yr (+$43/mo · 102.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,508
• − Mortgage interest: −$7,002
• − Property taxes: −$505
• − Insurance: −$625
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$3,636
• Taxable income: $418
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $2,364/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: Wilkes County Schools
• NCES district ID: 3704950
• Math proficiency: 55% ▲ 13.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $34,538
• Composite: 43.41/100
• National rank: #3017
• State rank: #59 of 178 in NC

Livability — Hays

• Score: 66/100
• State rank: #265
• US rank: #11516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,107

Population outlook (Wilkes County) Hauer SSP2

• Today (2025): 66,349 people
• By 2030: 64,411 · -2.9%
• By 2040: 59,800 · -9.9%
• By 2050: 54,770 · -17.5%
• By 2075: 45,211 · -31.9%
• By 2100: 36,956 · -44.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 8% Slovak 2% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Wilkes

• 2024 margin: Solid R (+59.6) · D 19.9% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.2pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+56.6 2016: R+55.2 2012: R+42.7 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.60%
• Current HPI: 376.8164
• 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

1 event — show timeline

• 2026-05-05 Listed $135,000 Triad MLS

Property tax history

-4.4%/yr

Latest (2025): $505 · +22.3% YoY. Source: county tax records.