9002 School St · Sharpsburg, NC 27803

$149,900

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 20 Days on market

Built 1996 10,019 sqft lot Est $126k · 19% over

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Why this score? — see what drove the D 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 +20.3/30.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• Rent growth +3.9/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

Key facts

• 0.23 acre lot
• Built 1996
• Listed 20 days

Property features AI

Finance

• Other: Zoned MHP
• HOA & community: No association; Not a senior community

Exterior

• Utilities: Public water; Public sewer
• Home design: Modular double-wide home; One story
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Chain link fencing; Publicly maintained road access

Interior

• Bedrooms: Three bedrooms, all on the main level
• Flooring: Luxury vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Luxury vinyl flooring; No built-in appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $191 ($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 $138k (7.8% below list).
• Recommended offer: $138k (7.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#595 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D, amenities F, commute F.
• Nash-Rocky Mount Schools (rural): math 20% / reading 32% proficiency, ranked #155 of 178 in NC (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Nash Central Middle (math 26% / reading 38%, grade F, #317 of 475 statewide, top 68%, 551 students, 66% FRL); Nash Central High (math 27% / reading 36%, grade F, #449 of 535 statewide, top 85%, 921 students, 64% FRL).
• Market conditions: Rents rising fast (+5.5%/yr); 171 active listings in the ZIP; 500 units permitted in Nash County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Nash County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $150k implies a 408% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $138,194 (7.8% 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. Crime grade is D 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $125,928
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8957 Taylor Woods Cir	0.07mi	3/2.0	1,219 (+3%)	11mo	$110,000	$90	83
5117 Doe Run Ct	0.29mi	3/2.0	1,296 (+9%)	11mo	$137,500	$106	62

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

Projected returns pro-forma

-3.0% appreciation · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-8,581
• Equity at exit: $22,351

10-year hold

• IRR: 6.8%
• Equity multiple: 1.56×
• Total profit: $23,431
• Equity at exit: $12,961

Cash invested: $41,972 (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 27803

• Rents YoY: 5.5%
• Active inventory: 171
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$52 /mo · $621/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $191

Break-even live

Break-even rent $1,140

Max offer price $149,900

Occupancy floor 81%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-30
   statusdays on market $149,900 Pending 20 DOM
2. 2026-05-15
   status Active 614-char remark

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

3. 2026-05-15
   status Active

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

4. 2026-04-24
   status Pending 614-char remark

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

5. 2026-04-24
   status Pending

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

6. 2026-04-24
   price $154,900 614-char remark

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

7. 2026-04-24
   price $154,900

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

8. 2026-04-20
   listed $140,900 Active 614-char remark

   Show marketing remark (614 chars)

   Excellent opportunity at 9002 School St in Rocky Mount offering a well-located property with strong potential for a variety of uses. Situated in an established area with convenient access to major thoroughfares, this site benefits from steady local traffic and proximity to surrounding residential neighborhoods and commercial amenities. The property provides flexibility for investors, developers, or owner-users seeking to expand or establish a presence in a growing market. With its strategic location and versatile potential, this is a valuable opportunity to secure property in a steadily developing corridor.

9. 2026-04-19
   listed $140,900 Active
10. 2001-12-20
    soldstatus $29,500

ⓘ 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: $621 · $52/mo
• Projected year-2 tax: $1,229 · $102/mo
• Expected delta: +$609/yr (+$51/mo · 98.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $16,583
• − Mortgage interest: −$8,397
• − Property taxes: −$621
• − Insurance: −$750
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$4,361
• Taxable loss: −$198
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $2,345/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: Nash-Rocky Mount Schools
• NCES district ID: 3703270
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $41,553
• Composite: 22.04/100
• National rank: #8198
• State rank: #155 of 178 in NC

Livability — Sharpsburg

• Score: 57/100
• State rank: #595
• US rank: #21689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Nash County · 50,768 people
• City population: 70,300
• Metro: Rocky Mount, NC
• Population (ZIP): 20,055
• Household income: $60,124
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 641.0

Population outlook (Nash County) Hauer SSP2

• Today (2025): 91,107 people
• By 2030: 89,193 · -2.1%
• By 2040: 84,959 · -6.7%
• By 2050: 80,517 · -11.6%
• By 2075: 72,941 · -19.9%
• By 2100: 63,602 · -30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 46% Black 44% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Iranian 1% Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Nash

• 2024 margin: Toss-up / Even · D 48.7% · R 50.5%
• 2008→2024 swing: -0.4pp no change · 2008: -1.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.2 2016: R+0.2 2012: D+0.9 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.95%
• Current HPI: 190.0204
• Rent YoY: ▲ 5.51%
• Metro: Rocky Mount, NC
• 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

+425.1% since first listed

9 events — show timeline

• 2026-05-15 Relisted — Hive MLS
• 2026-05-15 Relisted — TMLS
• 2026-04-24 Pending — Hive MLS
• 2026-04-24 Pending — TMLS
• 2026-04-24 Price Changed $154,900 TMLS
• 2026-04-24 Price Changed $154,900 Hive MLS
• 2026-04-20 Listed $140,900 Hive MLS
• 2026-04-19 Listed $140,900 TMLS
• 2001-12-20 Sold (Public Records) $29,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $621 · +5.1% YoY. Source: county tax records.