205 Sunrise Ave · Mount Gilead, NC 27306

$235,000

2 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 46 Days on market

Built 1955 0.34 ac lot Est $205k · 15% over

---

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 +12.4/30.0
• Appreciation +4.5/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +0.9/15.0

Listing remarks MLS

Delightful landscaped cottage that feels like home the minute you pull up! Located on a quiet street near downtown Mt. Gilead, you can walk to local shops and get your morning coffee to enjoy on your screened-in porch. The property is in great condition with lots of light, fresh paint, crown molding and baseboards throughout the house. Wonderful trees provide shade in your backyard with a storage building included. Excellent workshop area in the basement and the walk up attic could be converted into extra heated square feet. The home offers 2 bedrooms, dining and living areas. There is an unheated sunroom off the kitchen with views of your mature trees and backyard. You will appreciate the short drive to Lake Tillery. Refrigerator and washer/dryer to convey to new owner.

Key facts

• 0.34 acre lot
• Garage
• Built 1955

Property features AI

Finance

• Other: Zoned: City of Mt Gilead
• HOA & community: No HOA

Exterior

• Parking: Has garage (main level garage present); No additional parking features listed
• Utilities: City water; Public sewer
• Home design: Single-family residence (residential); Site-built construction; Two levels
• Construction: Brick full exterior; Basement and crawl space foundation
• Exterior features: Lot on a publicly maintained, paved road; Road surface includes paved and other

Interior

• Kitchen: Gas cooktop, Gas oven, Dishwasher, Refrigerator
• Bedrooms: 2 bedrooms total — 1 on the main level and 1 on the upper level
• Bathrooms: One full bathroom and one half bathroom (total: 1 full, 1 half)
• Heating & cooling: Forced air heating (natural gas); Heat pump cooling
• Interior features: Finished daylight basement; One room (as listed); Dishwasher, Electric water heater, Gas cooktop, Gas oven, Refrigerator
• Laundry & utility: Laundry features noted as 'Other - See Remarks'

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-39 ($-470/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (26.8% below list).
• Recommended offer: $172k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.8% in Mount Gilead — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#58 in NC, #4,548 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Montgomery County Schools (rural): math 29% / reading 34% proficiency, ranked #143 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mount Gilead Elementary (math 27% / reading 32%, grade F, #975 of 1,410 statewide, top 71%, 213 students, 87% FRL); West Middle (math 20% / reading 31%, grade F, #388 of 475 statewide, top 83%, 309 students, 72% FRL).
• Market conditions: 113 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $42k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $235k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% 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 $172,110 (26.8% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $204,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Julius Chambers Ave	0.19mi	3/2.5 (+1)	1,396 (+9%)	5mo	$188,000	$135	61
519 N Main St	0.39mi	3/2.0 (+1)	1,430 (+12%)	2mo	$229,500	$160	51
108 Circle Dr	0.72mi	3/1.5 (+1)	1,332 (+4%)	10mo	$30,000	$23	45
300 Washington Park Rd	0.61mi	3/2.0 (+1)	1,144 (-11%)	17mo	$229,000	$200	31

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

Projected returns pro-forma

-0.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.70×
• Total profit: $-19,642
• Equity at exit: $57,425

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-949
• Equity at exit: $60,897

Cash invested: $65,800 (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 27306

• Home prices YoY: -0.3%
• Active inventory: 113
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,721 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$69 /mo · $822/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-39

Break-even live

Break-even rent $1,771

Max offer price $228,088

Occupancy floor 97%

Sensitivity live

Price	-10% $94	-5% $27	+0% $-39	+5% $-106	+10% $-172
Rent	-10% $-175	-5% $-107	+0% $-39	+5% $29	+10% $97
Rate	-1.0pp $79	-0.5pp $21	base $-39	+0.5pp $-100	+1.0pp $-162

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $235,000 Active 46 DOM
2. 2026-06-18
   days on market $235,000 Active 43 DOM
3. 2026-06-17
   days on market $235,000 Active 42 DOM
4. 2026-06-16
   pricedays on market $235,000 Active 41 DOM
5. 2026-06-15
   days on market $249,000 Active 40 DOM
6. 2026-06-14
   days on market $249,000 Active 38 DOM
7. 2026-06-13
   days on market $249,000 Active 37 DOM
8. 2026-06-10
   days on market $249,000 Active 35 DOM
9. 2026-06-09
   days on market $249,000 Active 34 DOM
10. 2026-06-09
    price $249,000 Active 33 DOM
11. 2026-06-08
    days on market $255,000 Active 33 DOM
12. 2026-06-07
    days on market $255,000 Active 32 DOM
13. 2026-06-05
    days on market $255,000 Active 29 DOM
14. 2026-06-03
    days on market $255,000 Active 28 DOM
15. 2026-06-02
    days on market $255,000 Active 27 DOM
16. 2026-06-01
    days on market $255,000 Active 26 DOM
17. 2026-05-31
    days on market $255,000 Active 25 DOM
18. 2026-05-31
    pricedays on market $255,000 Active 24 DOM
19. 2026-05-22
    price $259,000
20. 2026-05-05
    listed $277,000 Active
21. 2022-12-12
    soldstatus $125,000 Closed 787-char remark

    Show marketing remark (787 chars)

    Delightful landscaped cottage that feels like home the minute you pull up! Located on a quiet street near downtown Mt. Gilead, you can walk to local shops and get your morning coffee to enjoy on your screened-in porch. The property is in great condition with lots of light, fresh paint, crown molding and baseboards throughout the house. Wonderful trees provide shade in your backyard with a storage building included. Excellent workshop area in the basement and the walk up attic could be converted into extra heated square feet. The home offers 2 bedrooms, dining and living areas. There is an unheated sunroom off the kitchen with views of your mature trees and backyard. You will appreciate the short drive to Lake Tillery. Refrigerator and washer/dryer to convey to new owner.

22. 2022-10-21
    historical Active Under Contract 787-char remark

    Show marketing remark (787 chars)

    Delightful landscaped cottage that feels like home the minute you pull up! Located on a quiet street near downtown Mt. Gilead, you can walk to local shops and get your morning coffee to enjoy on your screened-in porch. The property is in great condition with lots of light, fresh paint, crown molding and baseboards throughout the house. Wonderful trees provide shade in your backyard with a storage building included. Excellent workshop area in the basement and the walk up attic could be converted into extra heated square feet. The home offers 2 bedrooms, dining and living areas. There is an unheated sunroom off the kitchen with views of your mature trees and backyard. You will appreciate the short drive to Lake Tillery. Refrigerator and washer/dryer to convey to new owner.

23. 2022-10-05
    listed $129,000 Active 787-char remark

    Show marketing remark (787 chars)

    Delightful landscaped cottage that feels like home the minute you pull up! Located on a quiet street near downtown Mt. Gilead, you can walk to local shops and get your morning coffee to enjoy on your screened-in porch. The property is in great condition with lots of light, fresh paint, crown molding and baseboards throughout the house. Wonderful trees provide shade in your backyard with a storage building included. Excellent workshop area in the basement and the walk up attic could be converted into extra heated square feet. The home offers 2 bedrooms, dining and living areas. There is an unheated sunroom off the kitchen with views of your mature trees and backyard. You will appreciate the short drive to Lake Tillery. Refrigerator and washer/dryer to convey to new owner.

ⓘ 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: $822 · $69/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$1,105/yr (+$92/mo · 134.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,653
• − Mortgage interest: −$13,164
• − Property taxes: −$822
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$6,836
• Taxable loss: −$4,648
• Est. tax savings @ 24.0%: +$1,116
• After-tax cash flow: $646/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: Montgomery County Schools
• NCES district ID: 3703060
• Math proficiency: 29% ▼ -6.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $34,706
• Composite: 25.97/100
• National rank: #7328
• State rank: #143 of 178 in NC

Livability — Mount Gilead

• Score: 74/100
• State rank: #58
• US rank: #4548

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Gilead, NC
• Population (ZIP): 5,457

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 26,533 people
• By 2030: 25,724 · -3.0%
• By 2040: 23,842 · -10.1%
• By 2050: 22,077 · -16.8%
• By 2075: 18,754 · -29.3%
• By 2100: 15,537 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 26% Asian 6% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 1% Iranian 1%
• Foreign-born: 6% · China, Canada, Philippines
• Languages at home: 92% English-only · Other Asian/Pacific 5% Spanish 2% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+37.8) · D 30.8% · R 68.6%
• 2008→2024 swing: -26.9pp toward R · 2008: -11.0pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+31.8 2016: R+25.9 2012: R+15.2 2008: R+11.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.94%
• Current HPI: 334.2599
• 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

+100.8% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $259,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-05 Listed $277,000 CANOPYMLS as Distributed by MLS Grid
• 2022-12-12 Sold (MLS) $125,000 CANOPYMLS as Distributed by MLS Grid
• 2022-10-21 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-10-05 Listed $129,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-0.5%/yr

Latest (2025): $822 · +0.0% YoY. Source: county tax records.