7061 Casar Rd · Belwood, NC 28090

$200,999

3 bd · 2.5 ba · 1,512 sqft · Manufactured public records · 2 Days on market

Built 1989 1.09 ac lot

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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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming 3-bedroom, 2.5-bath home offers plenty of space inside and out, situated on 1.09 acres. The property features an attached 2-car garage, a large deck perfect for entertaining, and two outbuildings one smaller storage building and a large all-metal building with endless possibilities. Inside, you'll find fresh paint throughout, new laminate wood flooring, and beautiful LVP flooring in the bathrooms. The updated kitchen showcases new cabinets, countertops, and stainless steel appliances. The spacious primary suite offers a beautiful bathroom complete with a double vanity, soaking tub, and separate walk-in shower giving you the best of both worlds. If you're looking for an afforda

Key facts

• Large deck
• All-metal building
• Two outbuildings

Tags

• LARGE DECK
• TWO OUTBUILDINGS
• ALL-METAL BUILDING
• UPDATED KITCHEN
• NEW CABINETS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached driveway and garage; 2-car garage
• Security: Smoke detector(s)
• Utilities: County water; Septic system installed
• Home design: Manufactured doublewide single-family home; One level; Crawl space foundation; Residential zoning R15
• Construction: Manufactured construction; Vinyl exterior
• Exterior features: Deck; Porch; Road access via dirt, gravel, and paved surfaces; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 3 bedrooms located on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 10 total rooms; Wood-burning fireplace; Smoke detectors installed
• Laundry & utility: Laundry area located in hall

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $201k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/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 $188k (6.6% below list).
• Recommended offer: $188k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.5% in Belwood — 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 63/100 on livability (#382 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools F, amenities F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $87k; list at $201k implies a 131% 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 $187,634 (6.6% 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: 0.93% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.82%
• DSCR: 1.26
• GRM: 8.9

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-15,272
• Equity at exit: $29,970

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $8,749
• Equity at exit: $17,379

Cash invested: $56,280 (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 28090

• Home prices YoY: -3.4%
• Active inventory: 39
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,876 medium
• Mortgage (P&I): −$1,054
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$84
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $273

Break-even live

Break-even rent $1,531

Max offer price $200,999

Occupancy floor 80%

Sensitivity live

Price	-10% $387	-5% $330	+0% $273	+5% $216	+10% $159
Rent	-10% $125	-5% $199	+0% $273	+5% $347	+10% $421
Rate	-1.0pp $374	-0.5pp $324	base $273	+0.5pp $221	+1.0pp $168

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: $50,250
• Closing costs: $6,030
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $200,999 Active 2 DOM
2. 2026-06-18
   status $200,999 Active 1 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $200,999 Coming Soon 1 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: $859 · $72/mo
• Projected year-2 tax: $1,648 · $137/mo
• Expected delta: +$789/yr (+$66/mo · 91.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,516
• − Mortgage interest: −$11,259
• − Property taxes: −$859
• − Insurance: −$1,005
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$5,847
• Taxable loss: −$57
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $3,288/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Belwood

• Score: 63/100
• State rank: #382
• US rank: #15014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,422

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 12% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.65%
• Current HPI: 335.97
• 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

+118.5% since first listed

4 events — show timeline

• 2026-06-16 Coming Soon $200,999 CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Sold (Public Records) $87,000 Public Records
• 2010-03-23 Sold (Public Records) $99,000 Public Records
• 2005-11-23 Sold (Public Records) $92,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $859 · +35.8% YoY. Source: county tax records.