624 Blue St · Troy, NC 27371

$75,000

2 bd · 1.0 ba · 742 sqft · SingleFamily public records · 82 Days on market

Built 1950 6,098 sqft 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

2-bedroom, 1-bath home with strong investment potential. Property is being sold as-is and will require significant repairs and updates. Ideal for investors or buyers looking for a rehab project to convert into a long-term rental or hold property. With the right vision and improvements, this home offers an opportunity to build equity and create steady cash flow. Great candidate for a fix-and-hold strategy. Sold as-is. All offers welcomed.

Key facts

• 6,098 sq ft lot
• Built 1950
• Listed 82 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential home; Site-built construction; One story; R1 zoning
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: No appliances listed for the kitchen
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (on main level)
• Heating & cooling: Central heating; Propane heating available; Central air conditioning; Window unit(s) for cooling
• Interior features: 2 total rooms; No built-in appliances listed
• Laundry & utility: No laundry facilities (none listed)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#181 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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: Troy Elementary (287 students, 76% FRL); Montgomery Central High (math 42% / reading 39%, grade F, #387 of 535 statewide, top 73%, 893 students, 73% FRL).
• Market conditions: 48 active listings in the ZIP; 138 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($519 loan paydown + $8k appreciation (10.0% local appreciation)).
• Montgomery County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.45%
• DSCR: 2.04
• GRM: 5.8

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: 41.9%
• Equity multiple: 4.19×
• Total profit: $66,951
• Equity at exit: $67,566

10-year hold

• IRR: 36.1%
• Equity multiple: 9.41×
• Total profit: $176,548
• Equity at exit: $145,709

Cash invested: $21,000 (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 27371

• Home prices YoY: 13.6%
• Active inventory: 48
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$18 /mo · $220/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $410

Break-even live

Break-even rent $561

Max offer price $75,000

Occupancy floor 57%

Sensitivity live

Price	-10% $453	-5% $432	+0% $410	+5% $389	+10% $368
Rent	-10% $325	-5% $368	+0% $410	+5% $453	+10% $496
Rate	-1.0pp $448	-0.5pp $429	base $410	+0.5pp $391	+1.0pp $371

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-16
   statusdays on market $75,000 Pending 82 DOM
2. 2026-06-15
   days on market $75,000 Active 81 DOM
3. 2026-06-14
   days on market $75,000 Active 79 DOM
4. 2026-06-13
   days on market $75,000 Active 78 DOM
5. 2026-06-10
   days on market $75,000 Active 76 DOM
6. 2026-06-09
   days on market $75,000 Active 75 DOM
7. 2026-06-08
   days on market $75,000 Active 74 DOM
8. 2026-06-07
   days on market $75,000 Active 73 DOM
9. 2026-06-05
   days on market $75,000 Active 70 DOM
10. 2026-06-03
    days on market $75,000 Active 69 DOM
11. 2026-06-02
    days on market $75,000 Active 68 DOM
12. 2026-06-01
    days on market $75,000 Active 67 DOM
13. 2026-05-31
    days on market $75,000 Active 66 DOM
14. 2026-05-31
    days on market $75,000 Active 65 DOM
15. 2026-04-14
    status Active
16. 2026-03-20
    listed $75,000 Active

ⓘ 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: $220 · $18/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$395/yr (+$33/mo · 180.0%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,960
• − Mortgage interest: −$4,201
• − Property taxes: −$220
• − Insurance: −$375
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$2,182
• Taxable income: $3,909
• Est. tax owed @ 24.0%: −$938
• After-tax cash flow: $3,986/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 — Troy

• Score: 68/100
• State rank: #181
• US rank: #9235

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NC
• Population (ZIP): 7,842

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: Predominantly White (76%)
• Race & ethnicity: White 76% Black 14% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% 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: ▲ 39.24%
• Current HPI: 328.2084
• 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

• 2026-04-14 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-20 Listed $75,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2025): $220 · +0.0% YoY. Source: county tax records.