87 Flat Rock St · Wadesboro, NC 28170

$69,900

2 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 123 Days on market

Built 1949 Fair condition 0.63 ac lot Garage $66/sqft · 56% below area ↓ 13% since listing

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Livability +2.1/5.0
• Schools +1.7/10.0

Listing remarks

Attention investors! There aren't many homes this affordable available in today's real estate market, so don't overlook this one. This two bedroom/one bath home would make a great addition to a rental portfolio. It was previously rented for $750/month and could easily be tenant ready. This could also be a perfect home for someone looking for home ownership at a lower price point. The bedrooms are spacious, the kitchen is open and large enough for a dining area, and there is a living room and bonus room that could be used for office, playroom, etc. The bonus room could potentially be used as a bedroom--it just doesn't have a closet. Take a look today!

Key facts

• 0.63 acre lot
• Built 1949
• Listed 123 days

🏷️ Possibly a rental listed for sale. The $69,900 price doesn't fit this home's estimated sale value (~$168,662) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.2% vs local median 5.7% in Wadesboro — 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 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, crime F, amenities F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wadesboro Primary (math 5% / reading 5%, grade F, #1,405 of 1,410 statewide, top 100%, 290 students, 99% FRL); Anson Middle (math 16% / reading 31%, grade F, #402 of 475 statewide, top 85%, 701 students, 100% FRL); Anson High School (math 22% / reading 22%, grade F, #484 of 535 statewide, top 91%, 655 students, 98% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 98 active listings in the ZIP; lower-income renter base — watch delinquency; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Anson County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 123 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.14% ✓
• Cap rate: 19.24%
• Cash-on-cash: 46.23%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (median comp): $168,662
• List price: $69,900
• Delta: -58.56%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1913 Country Club Rd	0.36mi	2/1.0	1,123 (+6%)	7mo	$158,000	$141	68
327 Breslin St	1.09mi	3/1.0 (+1)	1,064 (+0%)	5mo	$166,920	$157	56
810 Demingwood St	0.85mi	2/1.0	1,047 (-1%)	9mo	$120,000	$115	55
1216 Old Lilesville Rd #20	0.69mi	2/1.0	1,151 (+8%)	22mo	$148,000	$129	36
322 Breslin St	1.09mi	3/1.0 (+1)	1,236 (+16%)	4mo	$215,000	$174	32
718 Demingwood St	0.90mi	3/1.0 (+1)	1,135 (+7%)	20mo	$145,000	$128	32
1014 Stuart Dr	0.63mi	3/1.5 (+1)	1,256 (+18%)	12mo	$179,500	$143	28

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

Projected returns pro-forma

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

5-year hold

• IRR: 60.4%
• Equity multiple: 5.40×
• Total profit: $86,082
• Equity at exit: $62,971

10-year hold

• IRR: 53.9%
• Equity multiple: 12.02×
• Total profit: $215,709
• Equity at exit: $135,800

Cash invested: $19,572 (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 →

Active competition Active MLS

• For sale now: 4 active
• Median asking: $179,950 ($166/sqft)
• Median days on market: 100 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -4.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28170

• Home prices YoY: 5.8%
• Active inventory: 98
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,496 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $754

Break-even live

Break-even rent $541

Max offer price $69,900

Occupancy floor 45%

Sensitivity live

Price	-10% $794	-5% $774	+0% $754	+5% $734	+10% $714
Rent	-10% $636	-5% $695	+0% $754	+5% $813	+10% $872
Rate	-1.0pp $789	-0.5pp $772	base $754	+0.5pp $736	+1.0pp $717

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: $17,475
• Closing costs: $2,097
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City waterSeptic system installed
• Home design: Single-family residential homeSite-built constructionOne storyCrawl space foundationR-20 zoning
• Construction: Vinyl exterior
• Exterior features: Lot is approximately 0.63 acresRoads are dirt and pavedPublicly maintained road access

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heatingNo central cooling
• Interior features: Five total roomsElectric water heater
• Laundry & utility: No laundry room features specified

Listing history 50 events

1. 2026-08-03
   days on market $69,900 Active 123 DOM
2. 2026-07-31
   days on market $69,900 Active 120 DOM
3. 2026-07-30
   days on market $69,900 Active 119 DOM
4. 2026-07-29
   days on market $69,900 Active 118 DOM
5. 2026-07-27
   days on market $69,900 Active 116 DOM
6. 2026-07-25
   days on market $69,900 Active 114 DOM
7. 2026-07-24
   days on market $69,900 Active 113 DOM
8. 2026-07-23
   days on market $69,900 Active 112 DOM
9. 2026-07-22
   days on market $69,900 Active 111 DOM
10. 2026-07-21
    days on market $69,900 Active 110 DOM
11. 2026-07-20
    days on market $69,900 Active 109 DOM
12. 2026-07-18
    days on market $69,900 Active 107 DOM
13. 2026-07-17
    days on market $69,900 Active 105 DOM
14. 2026-07-15
    days on market $69,900 Active 104 DOM
15. 2026-07-14
    days on market $69,900 Active 103 DOM
16. 2026-07-13
    days on market $69,900 Active 102 DOM
17. 2026-07-12
    days on market $69,900 Active 101 DOM
18. 2026-07-12
    days on market $69,900 Active 100 DOM
19. 2026-07-10
    days on market $69,900 Active 99 DOM
20. 2026-07-09
    price $69,900 Active 98 DOM
21. 2026-07-09
    days on market $74,900 Active 98 DOM
22. 2026-07-07
    days on market $74,900 Active 96 DOM
23. 2026-07-06
    days on market $74,900 Active 95 DOM
24. 2026-07-05
    days on market $74,900 Active 94 DOM
25. 2026-07-05
    days on market $74,900 Active 93 DOM
26. 2026-07-03
    days on market $74,900 Active 92 DOM
27. 2026-07-02
    days on market $74,900 Active 91 DOM
28. 2026-07-01
    days on market $74,900 Active 90 DOM
29. 2026-06-30
    days on market $74,900 Active 89 DOM
30. 2026-06-29
    days on market $74,900 Active 88 DOM
31. 2026-06-28
    days on market $74,900 Active 87 DOM
32. 2026-06-27
    days on market $74,900 Active 86 DOM
33. 2026-06-26
    days on market $74,900 Active 85 DOM
34. 2026-06-23
    price $74,900 Active 81 DOM
35. 2026-06-22
    days on market $79,900 Active 81 DOM
36. 2026-06-21
    days on market $79,900 Active 80 DOM
37. 2026-06-21
    days on market $79,900 Active 79 DOM
38. 2026-06-18
    days on market $79,900 Active 77 DOM
39. 2026-06-17
    days on market $79,900 Active 76 DOM
40. 2026-06-16
    days on market $79,900 Active 75 DOM
41. 2026-06-15
    days on market $79,900 Active 74 DOM
42. 2026-06-13
    days on market $79,900 Active 72 DOM
43. 2026-06-12
    days on market $79,900 Active 71 DOM
44. 2026-06-09
    days on market $79,900 Active 68 DOM
45. 2026-06-09
    status $79,900 Active 67 DOM
46. 2026-06-08
    days on market $79,900 Active Under Contract 67 DOM
47. 2026-06-07
    days on market $79,900 Active Under Contract 66 DOM
48. 2026-06-07
    statusdays on market $79,900 Active Under Contract 65 DOM
49. 2026-06-04
    days on market $79,900 Active 62 DOM
50. 2026-06-02
    days on market $79,900 Active 61 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: $384 · $32/mo
• Projected year-2 tax: $573 · $48/mo
• Expected delta: +$189/yr (+$16/mo · 49.1%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $17,951
• − Mortgage interest: −$3,915
• − Property taxes: −$384
• − Insurance: −$350
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$2,033
• Taxable income: $8,396
• Est. tax owed @ 24.0%: −$2,015
• After-tax cash flow: $7,033/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $26,550–$47,790 screening

This home requires moderate renovations, including roof repair, siding replacement, and landscaping improvements. Fresh paint and HVAC upgrades can significantly enhance its value.

Components & finishes AI

Roof asphalt shingle · good Flooring wood

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical system.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.
• Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Repairs flagged

• Major Roof — Signs of aging and potential for leaks
• Moderate Siding — Wear and tear visible
• Major Landscaping — Overgrown and unkempt
• Moderate Floors — Worn and in need of refinishing

Value-add opportunities

• Both Paint — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both HVAC — Upgrading HVAC can improve comfort and energy efficiency ↑
• Both Landscaping — Well-maintained landscaping can enhance curb appeal and property value ↑
• Both Flooring — Refinishing worn floors can improve aesthetics and increase value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 17/100

Zoned Schools

Elementary Wadesboro Primary F NC #1,405/1,410 Nat'l #40,579/41,679 Middle Anson Middle F NC #402/475 Nat'l #10,902/14,009 High Anson High School F NC #484/535 Nat'l #13,673/17,239

Schools (NCES district)

• District: Anson County Schools
• NCES district ID: 3700180
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,961
• Composite: 21.41/100
• National rank: #8348
• State rank: #159 of 178 in NC

F Composite livability gradescore 41/100

Livability — Wadesboro

• Score: 41/100
• State rank: #728
• US rank: #27112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadesboro, NC
• County: Anson · 23,572 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 9,595
• Household income: $36,139
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 10% of renters

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Population outlook (Anson County) Hauer SSP2

• Today (2025): 23,572 people
• By 2030: 22,384 · -5.0%
• By 2040: 19,976 · -15.3%
• By 2050: 17,803 · -24.5%
• By 2075: 13,839 · -41.3%
• By 2100: 10,890 · -53.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 38% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Russian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Korean 1%

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Political lean MEDSL · Anson

• 2024 margin: Toss-up / Even · D 48.4% · R 50.9%
• 2008→2024 swing: -23.5pp toward R · 2008: 20.9pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+4.2 2016: D+12.6 2012: D+25.0 2008: D+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.62%
• Current HPI: 228.7798
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

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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

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City waterSeptic system installed
• Home design: Single-family residential homeSite-built constructionOne storyCrawl space foundationR-20 zoning
• Construction: Vinyl exterior
• Exterior features: Lot is approximately 0.63 acresRoads are dirt and pavedPublicly maintained road access

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heatingNo central cooling
• Interior features: Five total roomsElectric water heater
• Laundry & utility: No laundry room features specified

Price history

-12.5% since first listed

5 events — show timeline

• 2026-07-09 Price Changed $69,900 CANOPYMLS as Distributed by MLS Grid
• 2026-06-22 Price Changed $74,900 CANOPYMLS as Distributed by MLS Grid
• 2026-06-08 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-06-04 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Listed $79,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $384 · +4.5% YoY. Source: county tax records.