434 Mcalpin Ln · Taylorsville, NC 28681

$200,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured · 1 Days on market

Built 2007 1.18 ac lot

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Why this score? — see what drove the D- 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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to peaceful country living! This well-maintained 3-bedroom, 2-bathroom double-wide manufactured home sits on a spacious 1.18-acre lot, offering plenty of room to enjoy the outdoors, garden, entertain, or simply relax in a private setting. Inside, you'll find a comfortable and functional floor plan with generous living spaces, a welcoming kitchen, and a primary suite featuring its own private bathroom. The additional bedrooms provide flexibility for family, guests, or a home office. The property offers the convenience of private utilities, with the well and septic system professionally serviced approximately two years ago, providing added peace of mind for the next owner. Whethe

Key facts

• Welcoming kitchen
• Spacious lot
• Private utilities

Tags

• SPACIOUS LOT
• PRIVATE SETTING
• GENEROUS LIVING SPACES
• WELCOMING KITCHEN
• PRIVATE BATHROOM
• PRIVATE UTILITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-55 ($-665/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (16.0% below list).
• Recommended offer: $168k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.0% in Taylorsville — 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 69/100 on livability (#159 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools C-, amenities F, commute F.
• Alexander County Schools (rural): math 52% / reading 55% proficiency, ranked #52 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 135 active listings in the ZIP; 113 units permitted in Alexander County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Alexander County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $167,946 (16.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.19%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-35,911
• Equity at exit: $29,821

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-35,709
• Equity at exit: $17,292

Cash invested: $56,000 (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 28681

• Home prices YoY: -11.9%
• Active inventory: 135
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,679 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-55

Break-even live

Break-even rent $1,750

Max offer price $191,986

Occupancy floor 98%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $200,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $20,154
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$5,818
• Taxable loss: −$4,092
• Est. tax savings @ 24.0%: +$982
• After-tax cash flow: $318/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: Alexander County Schools
• NCES district ID: 3700090
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $41,189
• Composite: 44.84/100
• National rank: #2732
• State rank: #52 of 178 in NC

Livability — Taylorsville

• Score: 69/100
• State rank: #159
• US rank: #8794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 26,117

Population outlook (Alexander County) Hauer SSP2

• Today (2025): 36,916 people
• By 2030: 36,085 · -2.3%
• By 2040: 33,528 · -9.2%
• By 2050: 30,229 · -18.1%
• By 2075: 23,159 · -37.3%
• By 2100: 15,981 · -56.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 5% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Alexander

• 2024 margin: Solid R (+59.9) · D 19.7% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.4pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+58.0 2016: R+55.9 2012: R+44.6 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.79%
• Current HPI: 227.497
• 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