3889 Needmore Rd · Cleveland, NC 27054

$59,000

3 bd · 1.0 ba · 0 sqft · Other public records · 6 Days on market

Built 1972 0.85 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

3 bedroom / 1 bathroom manufactured home (built 1972, approx. 849 sq ft) on 0.85 acres in rural Woodleaf, NC. Interior photos available upon request. Privately accessible via shared driveway through front parcel. Approved 3-bedroom septic system on file with Rowan County (1995). Shared well with adjacent parcel. Sold strictly AS-IS — Cash or hard money only. Buyer to verify all systems, square footage, condition, and acceptable use. Adjoining parcels also available (MLS# 4378677 home / MLS# 4378679 vacant land).

Key facts

• 0.85 acre lot
• Built 1972
• Listed 6 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No main-level garage; Parking features: Other (see remarks)
• Utilities: Shared well water; Septic system installed
• Home design: Manufactured singlewide residential home; One story; Crawl space foundation
• Construction: Manufactured construction; Exterior materials include aluminum and other (see remarks)
• Exterior features: Lot includes multiple road surfaces: asphalt, dirt, gravel and paved; Private maintained road (and other - see remarks)

Interior

• Kitchen: Kitchen appliances listed as other (see remarks)
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: One living room (1 total room); Appliances: Other (see remarks)
• Laundry & utility: Laundry features listed as other (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).

Location & tenants

• Location reads 63/100 on livability (#428 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, employment D+, amenities F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $59,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 1.76% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.83%
• DSCR: 2.33
• GRM: 4.7

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: 46.9%
• Equity multiple: 4.53×
• Total profit: $58,302
• Equity at exit: $53,152

10-year hold

• IRR: 40.8%
• Equity multiple: 10.15×
• Total profit: $151,153
• Equity at exit: $114,624

Cash invested: $16,520 (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 27054

• Home prices YoY: 7.7%
• Active inventory: 13
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,036 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $411

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 55%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-06
   listed $59,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,431
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$1,716
• Taxable income: $4,241
• Est. tax owed @ 24.0%: −$1,018
• After-tax cash flow: $3,910/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Cleveland

• Score: 63/100
• State rank: #428
• US rank: #15829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,372

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 11% Hispanic / Latino 2%
• Common ancestry: Serbian 18% Portuguese 12% Slovak 5%
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 4%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.55%
• Current HPI: 300.4799
• 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

2 events — show timeline

• 2026-05-12 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-06 Listed $59,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+11.4%/yr

Latest (2018): $96 · +0.0% YoY. Source: county tax records.