5624 R & R Farm Rd · Valdese, NC 28612

$115,000

3 bd · 2.0 ba · 1,078 sqft · Manufactured public records · 87 Days on market

Built 1993 2.87 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Schools +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Take a look at this one level mobile home with a split bedroom floor plan on 2.87 acres! Centrally located, this home has a large eat-in kitchen with lots of cabinet space and a nice sized living room. Off the kitchen is the laundry room and door to a large back deck. This home has a split bedroom floor plan with the huge owners suite on the left. The owners suite has a jetted tub and two closets. On the opposite end of the home are the two additional bedrooms and hall bathroom. This home sits on 2.87 private acres.

Key facts

• Large eat-in kitchen
• Quiet cul-de-sac
• Spacious living area

Tags

• PRIVATE WOODED ACRES
• QUIET CUL-DE-SAC
• SPLIT-BEDROOM FLOOR PLAN
• SPACIOUS LIVING AREA
• LARGE EAT-IN KITCHEN
• ABUNDANT CABINET SPACE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: Well water; Septic system
• Home design: Manufactured singlewide home; Residential single-family property; R-3 zoning
• Construction: Vinyl exterior; Manufactured construction; One story
• Exterior features: Private-maintained road access; Gravel and dirt driveway/road

Interior

• Kitchen: No appliances included
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: One-level living; Crawl space foundation; Utility room for laundry
• Laundry & utility: Laundry in utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $155 ($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 $106k (8.0% below list).
• Recommended offer: $106k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 2.6% in Valdese — 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 66/100 on livability (#279 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George Hildebrand Elementary (math 37% / reading 42%, grade F, #694 of 1,410 statewide, top 53%, 318 students, 81% FRL); East Burke High (math 67% / reading 52%, grade C+, #216 of 535 statewide, top 43%, 879 students, 64% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 422 units permitted in Burke County in 2024 (94 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Burke County population projected at -18% 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $105,780 (8.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.4%
• Equity multiple: 3.25×
• Total profit: $72,446
• Equity at exit: $103,601

10-year hold

• IRR: 24.7%
• Equity multiple: 7.38×
• Total profit: $205,475
• Equity at exit: $223,420

Cash invested: $32,200 (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 28612

• Home prices YoY: 24.4%
• Active inventory: 155
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$30 /mo · $357/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $155

Break-even live

Break-even rent $862

Max offer price $115,000

Occupancy floor 80%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $115,000 Active 87 DOM
2. 2026-06-18
   days on market $115,000 Active 86 DOM
3. 2026-06-17
   days on market $115,000 Active 85 DOM
4. 2026-06-16
   days on market $115,000 Active 84 DOM
5. 2026-06-15
   days on market $115,000 Active 83 DOM
6. 2026-06-14
   days on market $115,000 Active 81 DOM
7. 2026-06-13
   days on market $115,000 Active 80 DOM
8. 2026-06-10
   days on market $115,000 Active 78 DOM
9. 2026-06-09
   days on market $115,000 Active 77 DOM
10. 2026-06-08
    days on market $115,000 Active 76 DOM
11. 2026-06-07
    days on market $115,000 Active 75 DOM
12. 2026-06-05
    days on market $115,000 Active 72 DOM
13. 2026-06-02
    days on market $115,000 Active 70 DOM
14. 2026-06-01
    days on market $115,000 Active 69 DOM
15. 2026-05-31
    days on market $115,000 Active 68 DOM
16. 2026-05-30
    days on market $115,000 Active 67 DOM
17. 2026-05-11
    price $115,000
18. 2026-04-23
    price $139,900
19. 2026-03-24
    listed $149,900 Active
20. 2025-02-16
    listed $174,900 Active
21. 2024-07-18
    soldstatus $84,000 Closed 521-char remark

    Show marketing remark (521 chars)

    Take a look at this one level mobile home with a split bedroom floor plan on 2.87 acres! Centrally located, this home has a large eat-in kitchen with lots of cabinet space and a nice sized living room. Off the kitchen is the laundry room and door to a large back deck. This home has a split bedroom floor plan with the huge owners suite on the left. The owners suite has a jetted tub and two closets. On the opposite end of the home are the two additional bedrooms and hall bathroom. This home sits on 2.87 private acres.

22. 2024-07-18
    soldstatus $84,000

    Show marketing remark (521 chars)

    Take a look at this one level mobile home with a split bedroom floor plan on 2.87 acres! Centrally located, this home has a large eat-in kitchen with lots of cabinet space and a nice sized living room. Off the kitchen is the laundry room and door to a large back deck. This home has a split bedroom floor plan with the huge owners suite on the left. The owners suite has a jetted tub and two closets. On the opposite end of the home are the two additional bedrooms and hall bathroom. This home sits on 2.87 private acres.

23. 2024-06-17
    historical Active Under Contract 521-char remark

    Show marketing remark (521 chars)

    Take a look at this one level mobile home with a split bedroom floor plan on 2.87 acres! Centrally located, this home has a large eat-in kitchen with lots of cabinet space and a nice sized living room. Off the kitchen is the laundry room and door to a large back deck. This home has a split bedroom floor plan with the huge owners suite on the left. The owners suite has a jetted tub and two closets. On the opposite end of the home are the two additional bedrooms and hall bathroom. This home sits on 2.87 private acres.

24. 2024-06-11
    listed $89,000 Active 521-char remark

    Show marketing remark (521 chars)

    Take a look at this one level mobile home with a split bedroom floor plan on 2.87 acres! Centrally located, this home has a large eat-in kitchen with lots of cabinet space and a nice sized living room. Off the kitchen is the laundry room and door to a large back deck. This home has a split bedroom floor plan with the huge owners suite on the left. The owners suite has a jetted tub and two closets. On the opposite end of the home are the two additional bedrooms and hall bathroom. This home sits on 2.87 private acres.

ⓘ 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: $357 · $30/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$586/yr (+$49/mo · 164.3%)

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,694
• − Mortgage interest: −$6,442
• − Property taxes: −$357
• − Insurance: −$575
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$3,345
• Taxable loss: −$56
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $1,873/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: Burke County Schools
• NCES district ID: 3700480
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $38,342
• Composite: 37.51/100
• National rank: #4400
• State rank: #89 of 178 in NC

Livability — Valdese

• Score: 66/100
• State rank: #279
• US rank: #12070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,182

Population outlook (Burke County) Hauer SSP2

• Today (2025): 86,552 people
• By 2030: 84,123 · -2.8%
• By 2040: 78,165 · -9.7%
• By 2050: 71,099 · -17.9%
• By 2075: 56,264 · -35.0%
• By 2100: 44,742 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Asian 3% Black 2% Two or more races 2%
• Common ancestry: Romanian 5% Portuguese 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Burke

• 2024 margin: Solid R (+41.2) · D 29.0% · R 70.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -19.2pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+40.1 2016: R+39.4 2012: R+23.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 64.39%
• Current HPI: 328.6
• 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

+29.2% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $139,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-24 Listed $149,900 CANOPYMLS as Distributed by MLS Grid
• 2025-02-16 Listed $174,900 CANOPYMLS as Distributed by MLS Grid
• 2024-07-18 Sold (Public Records) $84,000 Public Records
• 2024-07-18 Sold (MLS) $84,000 CANOPYMLS as Distributed by MLS Grid
• 2024-06-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2024-06-11 Listed $89,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+12.0%/yr

Latest (2025): $357 · +0.6% YoY. Source: county tax records.