87 Flat Rock St · Wadesboro, NC 28170

$79,900

2 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 77 Days on market

Built 1949 0.63 ac lot Est $150k · 47% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

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 77 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Septic system installed
• Home design: Single-family residence; Site-built; One story; R-20 zoning
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Lot approximately 0.63 acres; Road surfaces include dirt and paved; Publicly maintained road

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Baseboard heating; No cooling
• Interior features: 5 total rooms; Electric water heater
• Laundry & utility: No laundry room features specified

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$149,742) 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 $80k.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 6.3% 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-, schools F, crime 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.
• Market conditions: 85 active listings in the ZIP; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 77 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

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 $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.01% ✓
• Cap rate: 18.03%
• Cash-on-cash: 41.91%
• DSCR: 2.86
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $149,742
• Comps found: 2

Show comp detail 2 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%)	5mo	$158,000	$141	69
1216 Old Lilesville Rd #20	0.69mi	2/1.0	1,151 (+8%)	20mo	$148,000	$129	38

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: 56.8%
• Equity multiple: 5.17×
• Total profit: $93,259
• Equity at exit: $71,980

10-year hold

• IRR: 50.3%
• Equity multiple: 11.52×
• Total profit: $235,465
• Equity at exit: $155,228

Cash invested: $22,372 (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 28170

• Home prices YoY: 5.8%
• Active inventory: 85
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,602 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $781

Break-even live

Break-even rent $613

Max offer price $79,900

Occupancy floor 46%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $79,900 Active 77 DOM
2. 2026-06-17
   days on market $79,900 Active 76 DOM
3. 2026-06-16
   days on market $79,900 Active 75 DOM
4. 2026-06-15
   days on market $79,900 Active 74 DOM
5. 2026-06-13
   days on market $79,900 Active 72 DOM
6. 2026-06-12
   days on market $79,900 Active 71 DOM
7. 2026-06-09
   days on market $79,900 Active 68 DOM
8. 2026-06-09
   status $79,900 Active 67 DOM
9. 2026-06-08
   days on market $79,900 Active Under Contract 67 DOM
10. 2026-06-07
    days on market $79,900 Active Under Contract 66 DOM
11. 2026-06-07
    statusdays on market $79,900 Active Under Contract 65 DOM
12. 2026-06-04
    days on market $79,900 Active 62 DOM
13. 2026-06-02
    days on market $79,900 Active 61 DOM
14. 2026-06-01
    days on market $79,900 Active 60 DOM
15. 2026-05-31
    days on market $79,900 Active 59 DOM
16. 2026-04-02
    listed $79,900 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: $384 · $32/mo
• Projected year-2 tax: $655 · $55/mo
• Expected delta: +$271/yr (+$23/mo · 70.4%)

ⓘ 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 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: $19,225
• − Mortgage interest: −$4,476
• − Property taxes: −$384
• − Insurance: −$400
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$2,324
• Taxable income: $8,565
• Est. tax owed @ 24.0%: −$2,056
• After-tax cash flow: $7,320/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: 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

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
• Population (ZIP): 9,595

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%

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%

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

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

• 2026-04-02 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.