6553 Hwy 194 Hwy · Lansing, NC 28693

$150,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 142 Days on market

Built 1971 1.00 ac lot Est $272k · 45% under

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• Appreciation +6.2/10.0
• 1% rule +5.0/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great opportunity for first-time homebuyers or investors. Single-wide manufactured home with stick-built addition featuring 2 bedrooms and 1 full bath inside, with attached garage. Outside you have 1 acre to enjoy with your own outbuilding. Enjoy river views from your covered front porch, in a peaceful setting. Just a short drive to downtown West Jefferson shopping, dining, and local amenities. Ideal as a primary residence, rental, or mountain getaway. Addition appears to be unpermitted, no permits located. Ring cameras currently in use.

Key facts

• Covered front porch
• Outbuilding
• Manufactured home

Tags

• MANUFACTURED HOME
• STICK-BUILT ADDITION
• 1 ACRE
• OUTBUILDING
• RIVER VIEWS
• COVERED FRONT PORCH

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Private well water; Private sewer
• Home design: Single-family residence; One-level (1 story)
• Construction: Wood siding; Asphalt shingle roof; Crawl space foundation; Built as a one-level home
• Exterior features: Covered patio/porch; Outbuilding; Gravel road access; Private maintained road; Private road frontage; Has view

Interior

• Kitchen: Electric cooktop; Electric range; Microwave; Refrigerator; Electric water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Ductless cooling; Ductless heating; Kerosene heating
• Interior features: High-speed internet
• Laundry & utility: Washer; Dryer; Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 1.7% in Lansing — 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 60/100 on livability (#514 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Ashe County Schools (rural): math 53% / reading 55% proficiency, ranked #53 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Blue Ridge Elementary (math 46% / reading 53%, grade D, #417 of 1,410 statewide, top 32%, 360 students, 71% FRL); Ashe County Middle (math 58% / reading 57%, grade B, #64 of 475 statewide, top 14%, 440 students, 64% FRL); Ashe County High (math 57% / reading 57%, grade C, #248 of 535 statewide, top 48%, 792 students, 54% FRL) — zoned schools average 63% FRL vs 46% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 19 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 190 units permitted in Ashe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.3% local appreciation)).
• Ashe County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; list at $150k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.00% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $272,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
950 Campbell Rd	0.74mi	3/1.0 (+1)	1,188 (-1%)	10mo	$270,000	$227	50

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

Projected returns pro-forma

2.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.77×
• Total profit: $32,389
• Equity at exit: $61,911

10-year hold

• IRR: 16.3%
• Equity multiple: 3.25×
• Total profit: $94,407
• Equity at exit: $91,313

Cash invested: $42,000 (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 28693

• Home prices YoY: 1.5%
• Active inventory: 19
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$28 /mo · $338/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $308

Break-even live

Break-even rent $1,110

Max offer price $150,000

Occupancy floor 74%

Sensitivity live

Price	-10% $393	-5% $350	+0% $308	+5% $265	+10% $223
Rent	-10% $189	-5% $248	+0% $308	+5% $367	+10% $426
Rate	-1.0pp $383	-0.5pp $346	base $308	+0.5pp $269	+1.0pp $229

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Robert Roten Rd Warrensville, NC	3.0	1.0	1092	$1,500	$1.37	14d	1	0.94mi

Listing history 18 events

1. 2026-06-19
   days on market $150,000 Active 142 DOM
2. 2026-06-18
   days on market $150,000 Active 141 DOM
3. 2026-06-17
   days on market $150,000 Active 140 DOM
4. 2026-06-16
   days on market $150,000 Active 139 DOM
5. 2026-06-15
   days on market $150,000 Active 138 DOM
6. 2026-06-14
   days on market $150,000 Active 136 DOM
7. 2026-06-12
   days on market $150,000 Active 135 DOM
8. 2026-06-09
   days on market $150,000 Active 132 DOM
9. 2026-06-08
   days on market $150,000 Active 131 DOM
10. 2026-06-07
    days on market $150,000 Active 130 DOM
11. 2026-06-03
    days on market $150,000 Active 126 DOM
12. 2026-06-02
    days on market $150,000 Active 125 DOM
13. 2026-06-01
    days on market $150,000 Active 124 DOM
14. 2026-05-31
    days on market $150,000 Active 123 DOM
15. 2026-05-30
    days on market $150,000 Active 122 DOM
16. 2026-05-04
    price $150,000
17. 2026-01-28
    listed $160,000 Active
18. 2008-03-14
    soldstatus $82,500

ⓘ 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: $338 · $28/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$892/yr (+$74/mo · 263.8%)

ⓘ 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 2/10 Low 8 d/yr ≥88°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,000
• − Mortgage interest: −$8,402
• − Property taxes: −$338
• − Insurance: −$750
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$4,364
• Taxable income: $1,266
• Est. tax owed @ 24.0%: −$304
• After-tax cash flow: $3,389/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: Ashe County Schools
• NCES district ID: 3700210
• Math proficiency: 53% ▲ 1.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $36,597
• Composite: 44.82/100
• National rank: #2737
• State rank: #53 of 178 in NC

Livability — Lansing

• Score: 60/100
• State rank: #514
• US rank: #18836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,250

Population outlook (Ashe County) Hauer SSP2

• Today (2025): 25,812 people
• By 2030: 24,852 · -3.7%
• By 2040: 22,518 · -12.8%
• By 2050: 20,113 · -22.1%
• By 2075: 15,295 · -40.7%
• By 2100: 11,065 · -57.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 6% Scotch-Irish 3% Lithuanian 3%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Ashe

• 2024 margin: Solid R (+44.5) · D 27.4% · R 71.8%
• 2008→2024 swing: -21.2pp toward R · 2008: -23.3pp · 2024: -44.5pp
• All cycles: 2024: R+44.5 2020: R+46.1 2016: R+44.7 2012: R+32.9 2008: R+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.34%
• Current HPI: 161.697
• 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

+81.8% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $150,000 HCMLS
• 2026-01-28 Listed $160,000 HCMLS
• 2008-03-14 Sold (Public Records) $82,500 Public Records

Property tax history

-1.3%/yr

Latest (2025): $338 · +3.5% YoY. Source: county tax records.