42 Collie Rd · Castalia, NC 27816

$139,900

3 bd · 2.0 ba · 1,137 sqft · Manufactured public records · 13 Days on market

Built 1981 1.00 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 +17.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +5.3/10.0
• 1% rule +3.4/10.0
• Schools +3.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention investors! This tenant-occupied manufactured home sits on approximately one acre in a private, rural location and offers excellent potential for rental income, renovation, or resale. The property includes a metal outbuilding and plenty of outdoor space with a peaceful country feel. Home is being sold as-is and will require repairs and improvements. Interior photos are unavailable due to tenant occupancy. With existing occupancy and upside potential, this property is worth a look for investors seeking their next project or portfolio addition.

Key facts

• Brick foundation
• Metal outbuilding
• Manufactured home

Tags

• MANUFACTURED HOME
• BRICK FOUNDATION
• PRIVATE RURAL LOCATION
• METAL OUTBUILDING
• OUTDOOR SPACE

Property features AI

Finance

• Other: Lot is approximately 1.0 acre (dimensions ~208 x 200 x 202 x 201); Vegetation includes brush, cleared areas, and grassed areas; Public maintained road access
• HOA & community: No association

Exterior

• Parking: Detached covered parking; Two garage spaces; Driveway and on-site open/outside parking
• Utilities: Public water; Septic tank (septic connected); Electricity connected
• Home design: Manufactured home; One story; Living area approximately 1,177
• Construction: Shingle roof; Unknown construction materials; Other foundation
• Exterior features: Covered front porch; Covered patio/porch options

Interior

• Bedrooms: Three bedrooms, all on the main level
• Flooring: See remarks
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central electric air conditioning
• Interior features: Flooring: see remarks

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 $97 ($1k/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 $118k (15.7% below list).
• Recommended offer: $118k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.1% in Castalia — 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 53/100 on livability (#678 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Franklin County Schools (rural): math 34% / reading 37% proficiency, ranked #128 of 178 in NC (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 948 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($967 loan paydown + $6k appreciation (4.5% local appreciation)).
• Franklin County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $117,894 (15.7% 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. 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.
4. 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.
5. 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: 0.84% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.97%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.47% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.87×
• Total profit: $34,166
• Equity at exit: $74,831

10-year hold

• IRR: 15.0%
• Equity multiple: 3.55×
• Total profit: $99,960
• Equity at exit: $125,611

Cash invested: $39,172 (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 27816

• Home prices YoY: 2.5%
• Active inventory: 60
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,179 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $97

Break-even live

Break-even rent $1,056

Max offer price $139,900

Occupancy floor 87%

Sensitivity live

Price	-10% $176	-5% $136	+0% $97	+5% $57	+10% $18
Rent	-10% $4	-5% $50	+0% $97	+5% $143	+10% $190
Rate	-1.0pp $167	-0.5pp $132	base $97	+0.5pp $61	+1.0pp $24

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $139,900 Active 13 DOM
2. 2026-06-18
   days on market $139,900 Active 11 DOM
3. 2026-06-17
   days on market $139,900 Active 10 DOM
4. 2026-06-16
   days on market $139,900 Active 9 DOM
5. 2026-06-15
   days on market $139,900 Active 8 DOM
6. 2026-06-13
   days on market $139,900 Active 6 DOM
7. 2026-06-12
   days on market $139,900 Active 5 DOM
8. 2026-06-09
   days on market $139,900 Active 2 DOM
9. 2026-06-07
   remarks 581-char remark

   Show marketing remark (557 chars)

   Attention investors! This tenant-occupied manufactured home sits on approximately one acre in a private, rural location and offers excellent potential for rental income, renovation, or resale. The property includes a metal outbuilding and plenty of outdoor space with a peaceful country feel. Home is being sold as-is and will require repairs and improvements. Interior photos are unavailable due to tenant occupancy. With existing occupancy and upside potential, this property is worth a look for investors seeking their next project or portfolio addition.

10. 2026-06-07
    listed $139,900 Active 1 DOM

    Show marketing remark (557 chars)

    Attention investors! This tenant-occupied manufactured home sits on approximately one acre in a private, rural location and offers excellent potential for rental income, renovation, or resale. The property includes a metal outbuilding and plenty of outdoor space with a peaceful country feel. Home is being sold as-is and will require repairs and improvements. Interior photos are unavailable due to tenant occupancy. With existing occupancy and upside potential, this property is worth a look for investors seeking their next project or portfolio addition.

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: +$636/yr (+$53/mo · 124.4%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,147
• − Mortgage interest: −$7,837
• − Property taxes: −$511
• − Insurance: −$700
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$4,070
• Taxable loss: −$1,233
• Est. tax savings @ 24.0%: +$296
• After-tax cash flow: $1,458/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: Franklin County Schools
• NCES district ID: 3701530
• Math proficiency: 34% ▬ 0.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $44,630
• Composite: 30.25/100
• National rank: #6286
• State rank: #128 of 178 in NC

Livability — Castalia

• Score: 53/100
• State rank: #678
• US rank: #24650

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,964

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 69,848 people
• By 2030: 72,480 · +3.8%
• By 2040: 76,682 · +9.8%
• By 2050: 78,993 · +13.1%
• By 2075: 82,888 · +18.7%
• By 2100: 80,784 · +15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 37% Hispanic / Latino 10% Two or more races 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Franklin

• 2024 margin: R (+13.6) · D 42.7% · R 56.3%
• 2008→2024 swing: -12.9pp toward R · 2008: -0.7pp · 2024: -13.6pp
• All cycles: 2024: R+13.6 2020: R+13.4 2016: R+11.7 2012: R+4.2 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.47%
• Current HPI: 184.5793
• 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

+179.8% since first listed

3 events — show timeline

• 2026-06-07 Listed $139,900 Hive MLS
• 2026-06-06 Listed $139,900 TMLS
• 2002-07-24 Sold (Public Records) $50,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $511 · +0.0% YoY. Source: county tax records.