7321 Sheriff Watson Rd · Cameron, NC 27332

$140,000

3 bd · 2.0 ba · 988 sqft · Manufactured public records · 54 Days on market

Built 2000 1.31 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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and close to Ft. Liberty. Quiet area with no neighbors to your rear. Friendly neighbors all around. This home was used as a vacation home originally and the new/ current owner barley lived in the home and had to relocate out of state. Furniture conveys with the property at no additional cost. With new financing available FHA/VA financing is acceptable. Home is on a permanent foundation. Home presents with an open concept and bedrooms are on separate ends for privacy. This could make a great rental for a good landlord. So much potential for a family that wants woods and country living.

Key facts

• New lighting
• Over 1 acre lot
• Fresh paint

Tags

• OVER 1 ACRE LOT
• FRESH PAINT
• NEW LIGHTING
• UPDATED VINYL FLOORING
• HVAC SYSTEM
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Located in the SOUTH OAKS subdivision; Public maintained road access; GPS-friendly directions

Exterior

• Parking: No garage
• Utilities: Public water; Septic tank and holding tank for sewer
• Home design: Manufactured home; Residential property; Sloping lot
• Construction: Aluminum siding; Crawl space foundation
• Exterior features: Front and rear porches; Porch; Outdoor storage; Shed(s)

Interior

• Kitchen: Refrigerator; Range; Dishwasher; Eat-in kitchen
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Central electric air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Storage; Window coverings and blinds
• Laundry & utility: Washer hookup; Dryer; Laundry on main level; In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 2.9% in Cameron — 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 68/100 on livability (#199 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Lee County Schools (rural): math 31% / reading 39% proficiency, ranked #131 of 178 in NC (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: J Glenn Edwards Elementary (math 35% / reading 35%, grade F, #825 of 1,410 statewide, top 59%, 532 students, 76% FRL); Southern Lee High School (math 43% / reading 46%, grade F, #352 of 535 statewide, top 68%, 1,234 students, 61% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 458 active listings in the ZIP; solid renter incomes; 602 units permitted in Lee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lee County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $110k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.28% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.77%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.45×
• Total profit: $17,661
• Equity at exit: $20,874

10-year hold

• IRR: 21.5%
• Equity multiple: 2.97×
• Total profit: $77,411
• Equity at exit: $12,105

Cash invested: $39,200 (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 27332

• Home prices YoY: -17.8%
• Rents YoY: 4.9%
• Active inventory: 458
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,793 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$44 /mo · $525/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $580

Break-even live

Break-even rent $1,059

Max offer price $140,000

Occupancy floor 63%

Sensitivity live

Price	-10% $660	-5% $620	+0% $580	+5% $541	+10% $501
Rent	-10% $439	-5% $510	+0% $580	+5% $651	+10% $722
Rate	-1.0pp $651	-0.5pp $616	base $580	+0.5pp $544	+1.0pp $507

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   status $140,000 Pending 54 DOM
2. 2026-06-18
   days on market $140,000 Active 54 DOM
3. 2026-06-17
   days on market $140,000 Active 53 DOM
4. 2026-06-16
   days on market $140,000 Active 52 DOM
5. 2026-06-15
   days on market $140,000 Active 51 DOM
6. 2026-06-14
   days on market $140,000 Active 49 DOM
7. 2026-06-13
   days on market $140,000 Active 48 DOM
8. 2026-06-10
   days on market $140,000 Active 46 DOM
9. 2026-06-09
   days on market $140,000 Active 45 DOM
10. 2026-06-08
    days on market $140,000 Active 44 DOM
11. 2026-06-07
    days on market $140,000 Active 43 DOM
12. 2026-06-05
    days on market $140,000 Active 40 DOM
13. 2026-06-03
    days on market $140,000 Active 39 DOM
14. 2026-06-02
    days on market $140,000 Active 38 DOM
15. 2026-06-01
    days on market $140,000 Active 37 DOM
16. 2026-05-31
    days on market $140,000 Active 36 DOM
17. 2026-05-30
    days on market $140,000 Active 35 DOM
18. 2026-05-23
    status Active
19. 2026-05-14
    status Pending
20. 2026-05-07
    status Active
21. 2026-02-12
    status Pending
22. 2026-01-22
    listed $140,000 Active
23. 2023-10-20
    soldstatus $110,000 Closed 681-char remark

    Show marketing remark (681 chars)

    Move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and close to Ft. Liberty. Quiet area with no neighbors to your rear. Friendly neighbors all around. This home was used as a vacation home originally and the new/ current owner barley lived in the home and had to relocate out of state. Furniture conveys with the property at no additional cost. With new financing available FHA/VA financing is acceptable. Home is on a permanent foundation. Home presents with an open concept and bedrooms are on separate ends for privacy. This could make a great rental for a good landlord. So much potential for a family that wants woods and country living.

24. 2023-10-20
    soldstatus $110,000

    Show marketing remark (681 chars)

    Move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and close to Ft. Liberty. Quiet area with no neighbors to your rear. Friendly neighbors all around. This home was used as a vacation home originally and the new/ current owner barley lived in the home and had to relocate out of state. Furniture conveys with the property at no additional cost. With new financing available FHA/VA financing is acceptable. Home is on a permanent foundation. Home presents with an open concept and bedrooms are on separate ends for privacy. This could make a great rental for a good landlord. So much potential for a family that wants woods and country living.

25. 2023-10-05
    status Pending 681-char remark

    Show marketing remark (681 chars)

    Move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and close to Ft. Liberty. Quiet area with no neighbors to your rear. Friendly neighbors all around. This home was used as a vacation home originally and the new/ current owner barley lived in the home and had to relocate out of state. Furniture conveys with the property at no additional cost. With new financing available FHA/VA financing is acceptable. Home is on a permanent foundation. Home presents with an open concept and bedrooms are on separate ends for privacy. This could make a great rental for a good landlord. So much potential for a family that wants woods and country living.

26. 2023-09-30
    listed $118,000 Active 681-char remark

    Show marketing remark (681 chars)

    Move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and close to Ft. Liberty. Quiet area with no neighbors to your rear. Friendly neighbors all around. This home was used as a vacation home originally and the new/ current owner barley lived in the home and had to relocate out of state. Furniture conveys with the property at no additional cost. With new financing available FHA/VA financing is acceptable. Home is on a permanent foundation. Home presents with an open concept and bedrooms are on separate ends for privacy. This could make a great rental for a good landlord. So much potential for a family that wants woods and country living.

27. 2022-07-15
    soldstatus $90,000 Closed 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

28. 2022-07-15
    soldstatus $90,000 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

29. 2022-07-15
    soldstatus $90,000

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

30. 2022-06-06
    status Pending 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

31. 2022-06-03
    listed $90,000
32. 2022-05-26
    price $90,000 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

33. 2022-04-28
    status Active 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

34. 2022-04-04
    status Pending 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

35. 2022-04-02
    listed $100,000 Active 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

36. 2022-03-30
    historical $100,000 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

37. 2022-03-30
    listed $90,000 522-char remark

    Show marketing remark (522 chars)

    Back on the market, no fault of seller. This house is move-in ready, well maintained, located on over a 1-acre lot in the south part of Sanford and it's only $100,000. This home was used as a snow-bird residence with owners who lived in New York and stayed in this home 3 months out of the year. First time home buyers and investors should check this one out as market rents are around $1100/month in the area. Furniture conveys with the property. Could qualify for FHA/VA financing as a "permanent foundation. "

38. 2006-03-13
    soldstatus $28,500
39. 2000-08-03
    soldstatus $19,000

ⓘ 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: $525 · $44/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$623/yr (+$52/mo · 118.6%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $21,519
• − Mortgage interest: −$7,842
• − Property taxes: −$525
• − Insurance: −$700
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$4,073
• Taxable income: $4,936
• Est. tax owed @ 24.0%: −$1,185
• After-tax cash flow: $5,780/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: Lee County Schools
• NCES district ID: 3702560
• Math proficiency: 31% ▼ -6.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $45,300
• Composite: 29.87/100
• National rank: #6403
• State rank: #131 of 178 in NC

Livability — Cameron

• Score: 68/100
• State rank: #199
• US rank: #9798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 76,725 people
• City population: 26,068
• Metro: Sanford, NC
• Population (ZIP): 36,947
• Household income: $78,447
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 632.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 63,008 people
• By 2030: 64,443 · +2.3%
• By 2040: 66,898 · +6.2%
• By 2050: 68,310 · +8.4%
• By 2075: 70,920 · +12.6%
• By 2100: 70,402 · +11.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 19% Black 16% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 4% Cuban 2%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 82% English-only · Spanish 15%

Political lean MEDSL · Lee

• 2024 margin: R (+17.5) · D 40.8% · R 58.3%
• 2008→2024 swing: -9.1pp toward R · 2008: -8.4pp · 2024: -17.5pp
• All cycles: 2024: R+17.5 2020: R+14.9 2016: R+13.2 2012: R+10.2 2008: R+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.61%
• Current HPI: 252.2719
• Rent YoY: ▲ 4.87%
• Metro: Sanford, 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

+636.8% since first listed

22 events — show timeline

• 2026-05-23 Relisted — LPRMLS
• 2026-05-14 Pending — LPRMLS
• 2026-05-07 Relisted — LPRMLS
• 2026-02-12 Pending — LPRMLS
• 2026-01-22 Listed $140,000 LPRMLS
• 2023-10-20 Sold (Public Records) $110,000 Public Records
• 2023-10-20 Sold (MLS) $110,000 LPRMLS
• 2023-10-05 Pending — LPRMLS
• 2023-09-30 Listed $118,000 LPRMLS
• 2022-07-15 Sold (Public Records) $90,000 Public Records
• 2022-07-15 Sold (MLS) $90,000 AMLSNC
• 2022-07-15 Sold (MLS) $90,000 TMLS
• 2022-06-06 Pending — TMLS
• 2022-06-03 Listed $90,000 LPRMLS
• 2022-05-26 Price Changed $90,000 TMLS
• 2022-04-28 Relisted — TMLS
• 2022-04-04 Pending — TMLS
• 2022-04-02 Listed $100,000 TMLS
• 2022-03-30 Coming Soon $100,000 TMLS
• 2022-03-30 Listed $90,000 AMLSNC
• 2006-03-13 Sold (Public Records) $28,500 Public Records
• 2000-08-03 Sold (Public Records) $19,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $525 · +2.0% YoY. Source: county tax records.