302 Queens Way · Randleman, NC 27317

$110,000

3 bd · 2.0 ba · 1,904 sqft · Manufactured public records · 1 Days on market

Built 1995 0.56 ac lot Est $209k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* Home being sold as-is * Bring your toolbelt and your vision to this spacious property! This home offers incredible potential, complete with a spacious detached 2-car garage and an additional detached carport. Enjoy peace of mind with major updates already done: a new roof (2023-2024), heat pump serviced in February 2025, and A/C serviced in July 2025. Schedule your showing today!

Key facts

• Detached carport
• Heat pump serviced
• A/c serviced

Tags

• DETACHED 2-CAR GARAGE
• DETACHED CARPORT
• NEW ROOF
• HEAT PUMP SERVICED
• A/C SERVICED

Property features AI

Finance

• Other: Property listed as residential manufactured home (manufactured house); Double wide body type; Building area total 1,902
• HOA & community: No association fees; Subdivision: Bristol Ridge Forest

Exterior

• Parking: Detached garage; Detached carport; Driveway parking; Garage (2 spaces)
• Utilities: Well water; Septic tank; Electric water heater; Electric power
• Home design: Manufactured double-wide home; One story; Built in 1995; Living room fireplace
• Construction: Vinyl siding; Crawl space foundation; Existing structure
• Exterior features: 0.56-acre lot; Well water; Septic tank; Publicly maintained road access; No pool

Interior

• Kitchen: Electric water heater
• Bedrooms: Primary on main
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Primary bedroom located on the main level; Living room with a fireplace
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Cap rate 24.5% vs local median 3.7% in Randleman — 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 67/100 on livability (#242 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Randolph County School System (rural): math 43% / reading 43% proficiency, ranked #94 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 789 units permitted in Randolph County in 2024 (168 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Randolph County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

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: 2.73% ✓
• Cap rate: 24.51%
• Cash-on-cash: 65.06%
• DSCR: 3.89
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $209,440
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
377 Kings Ridge Rd	0.21mi	3/2.0	1,848 (-3%)	4mo	$95,000	$51	82
8359 Us Highway 220 Bus N	0.47mi	3/2.0	1,871 (-2%)	18mo	$205,000	$110	60

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

Projected returns pro-forma

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

5-year hold

• IRR: 64.2%
• Equity multiple: 3.87×
• Total profit: $88,540
• Equity at exit: $16,401

10-year hold

• IRR: 68.6%
• Equity multiple: 7.95×
• Total profit: $214,084
• Equity at exit: $9,511

Cash invested: $30,800 (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 27317

• Home prices YoY: -15.3%
• Active inventory: 77
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$77 /mo · $929/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $1,670

Break-even live

Break-even rent $886

Max offer price $110,000

Occupancy floor 39%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
518 Woods Dr Randleman, NC	4.0	2.0	1800	$3,000	$1.67	14d	1	1.12mi

Listing history 2 events

1. 2026-06-07
   remarks 385-char remark
2. 2026-06-07
   listed $110,000 Pending 1 DOM

ⓘ 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: $929 · $77/mo
• Projected year-2 tax: $929 · $77/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% 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: $36,000
• − Mortgage interest: −$6,162
• − Property taxes: −$929
• − Insurance: −$550
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$3,200
• Taxable income: $19,399
• Est. tax owed @ 24.0%: −$4,656
• After-tax cash flow: $15,383/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: Randolph County School System
• NCES district ID: 3703780
• Math proficiency: 43% ▲ 1.00%
• Reading proficiency: 43% ▲ 2.00%
• Median HH income: $43,490
• Composite: 36.37/100
• National rank: #4686
• State rank: #94 of 178 in NC

Livability — Randleman

• Score: 67/100
• State rank: #242
• US rank: #10980

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,769

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 142,640 people
• By 2030: 140,911 · -1.2%
• By 2040: 135,692 · -4.9%
• By 2050: 128,575 · -9.9%
• By 2075: 111,507 · -21.8%
• By 2100: 93,376 · -34.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 7% Black 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Serbian 7% Slovak 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+57.2) · D 21.0% · R 78.3%
• 2008→2024 swing: -15.0pp toward R · 2008: -42.3pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+56.3 2016: R+56.7 2012: R+50.2 2008: R+42.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.66%
• Current HPI: 241.7323
• 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

• 2026-06-06 Pending — Triad MLS
• 2026-06-05 Listed $110,000 Triad MLS

Property tax history

+5.0%/yr

Latest (2025): $929 · +3.1% YoY. Source: county tax records.