341 Lake Rd · Rockingham, NC 28379

$69,900

1 bd · 1.0 ba · 960 sqft · SingleFamily public records · 36 Days on market

Built 1946 0.50 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
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming opportunity in Rockingham! This 2-bedroom, 1-bath home sits on approximately 0.50 acres and offers plenty of potential for investors, first-time buyers, or anyone looking for an affordable property with room to improve. The home features approximately 960 sq ft and is located on Lake Rd with convenient access to town, shopping, schools, and major roads. With the right vision and updates, this property could make a great rental, flip, or personal residence. Enjoy a spacious lot, mature surroundings, and a peaceful setting while still being close to local amenities.

Key facts

• Mature surroundings
• Spacious lot
• Peaceful setting

Tags

• SPACIOUS LOT
• MATURE SURROUNDINGS
• PEACEFUL SETTING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: County water; County sewer
• Home design: Single-family residential home; One story; Entry level: Main
• Construction: Site-built construction; Block construction; Crawl space foundation; Built as one-level
• Exterior features: Level lot; Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: No appliances included
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central electric forced-air heating; Central electric air conditioning
• Interior features: 2 total rooms; Living room with a wood-burning fireplace
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/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: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 6.0% in Rockingham — 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 (#403 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: crime F, amenities F, commute F.
• Richmond County Schools (town): math 30% / reading 36% proficiency, ranked #139 of 178 in NC (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: West Rockingham Elementary (math 17% / reading 22%, grade F, #1,242 of 1,410 statewide, top 90%, 285 students, 99% FRL); Richmond Senior High (math 58% / reading 38%, grade D, #329 of 535 statewide, top 62%, 1,286 students, 99% FRL) — zoned schools average 99% FRL vs 70% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 54 units permitted in Richmond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Richmond 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $70k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1946 — 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 D-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. 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?
6. 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.
7. 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.
8. 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: 1.86% ✓
• Cap rate: 16.29%
• Cash-on-cash: 35.71%
• DSCR: 2.59
• GRM: 4.5

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: 31.4%
• Equity multiple: 2.32×
• Total profit: $25,762
• Equity at exit: $10,422

10-year hold

• IRR: 38.5%
• Equity multiple: 4.59×
• Total profit: $70,185
• Equity at exit: $6,044

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 →

ZIP-level market 28379

• Home prices YoY: -32.4%
• Active inventory: 155
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $582

Break-even live

Break-even rent $566

Max offer price $69,900

Occupancy floor 50%

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
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $69,900 Active 36 DOM
2. 2026-06-18
   days on market $69,900 Active 35 DOM
3. 2026-06-17
   days on market $69,900 Active 34 DOM
4. 2026-06-16
   days on market $69,900 Active 33 DOM
5. 2026-06-15
   days on market $69,900 Active 32 DOM
6. 2026-06-14
   days on market $69,900 Active 30 DOM
7. 2026-06-13
   days on market $69,900 Active 29 DOM
8. 2026-06-10
   days on market $69,900 Active 27 DOM
9. 2026-06-09
   days on market $69,900 Active 26 DOM
10. 2026-06-08
    days on market $69,900 Active 25 DOM
11. 2026-06-07
    days on market $69,900 Active 24 DOM
12. 2026-06-05
    days on market $69,900 Active 21 DOM
13. 2026-06-03
    days on market $69,900 Active 20 DOM
14. 2026-06-02
    days on market $69,900 Active 19 DOM
15. 2026-06-01
    days on market $69,900 Active 18 DOM
16. 2026-05-31
    days on market $69,900 Active 17 DOM
17. 2026-05-30
    days on market $69,900 Active 16 DOM
18. 2026-05-14
    listed $69,900 Active
19. 2010-04-20
    soldstatus $44,000
20. 2006-07-20
    soldstatus $45,000

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $614 · $51/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $15,634
• − Mortgage interest: −$3,915
• − Property taxes: −$614
• − Insurance: −$350
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$2,033
• Taxable income: $6,220
• Est. tax owed @ 24.0%: −$1,493
• After-tax cash flow: $5,496/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: Richmond County Schools
• NCES district ID: 3703870
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $32,224
• Composite: 26.97/100
• National rank: #7076
• State rank: #139 of 178 in NC

Livability — Rockingham

• Score: 63/100
• State rank: #403
• US rank: #15356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 24,068
• Population (ZIP): 24,068

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 42,892 people
• By 2030: 41,257 · -3.8%
• By 2040: 37,629 · -12.3%
• By 2050: 33,655 · -21.5%
• By 2075: 23,992 · -44.1%
• By 2100: 14,782 · -65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Black 32% Hispanic / Latino 8% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+20.9) · D 39.2% · R 60.1%
• 2008→2024 swing: -22.4pp toward R · 2008: 1.5pp · 2024: -20.9pp
• All cycles: 2024: R+20.9 2020: R+14.8 2016: R+10.1 2012: D+2.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.10%
• Current HPI: 203.0628
• 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

+55.3% since first listed

3 events — show timeline

• 2026-05-14 Listed $69,900 CANOPYMLS as Distributed by MLS Grid
• 2010-04-20 Sold (Public Records) $44,000 Public Records
• 2006-07-20 Sold (Public Records) $45,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $614 · -1.7% YoY. Source: county tax records.