503 Lincoln St · Wadesboro, NC 28170

$20,000

3 bd · 1.0 ba · 2,776 sqft · SingleFamily public records · 18 Days on market

Built 1928 1.00 ac lot

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks

DO NOT ENTER HOME - ENTER AT OWN RISK. This home needs demolished - LAND VALUE ONLY. Agent has ownership interest. Cash only

Key facts

• 1 acre lot
• Built 1928
• Listed 18 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No main-level garage; Parking described as 'Other - see remarks'
• Utilities: Public water (tap fee may be required) or none; Public sewer (tap fee may be required) or none
• Home design: Single-family residential home; Site-built construction; One level (single-story); Crawl space foundation
• Construction: Site-built construction; Construction materials listed as N/A
• Exterior features: One-acre lot; Roads are dirt and paved; Publicly maintained road access

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No heating; No cooling
• Interior features: One-room count living area; No built-in appliances listed
• Laundry & utility: No laundry room or hookups listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• Cap rate 81.9% vs local median 6.3% in Wadesboro — 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 41/100 on livability (#728 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime F.
• Anson County Schools (rural): math 20% / reading 32% proficiency, ranked #159 of 178 in NC (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 55 units permitted in Anson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (10.0% local appreciation)).
• Anson County population projected at -24% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% 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 $19,700 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 8.75% ✓
• Cap rate: 81.92%
• Cash-on-cash: 270.10%
• DSCR: 13.02
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $249,840
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 W Wade St	0.38mi	3/2.0	2,381 (-14%)	1mo	$215,000	$90	54
165 Mimosa Ter	0.56mi	3/3.5	2,738 (-1%)	11mo	$300,000	$110	52
500 White Store Rd	0.72mi	4/2.0 (+1)	2,592 (-7%)	8mo	$77,000	$30	40
511 Woodland Dr #25	0.70mi	3/2.0	2,546 (-8%)	24mo	$172,500	$68	30

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.28×
• Total profit: $91,188
• Equity at exit: $18,018

10-year hold

• IRR: —
• Equity multiple: 37.69×
• Total profit: $205,437
• Equity at exit: $38,856

Cash invested: $5,600 (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 28170

• Home prices YoY: 5.8%
• Active inventory: 85
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,750 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$9 /mo · $106/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $1,260

Break-even live

Break-even rent $154

Max offer price $20,000

Occupancy floor 23%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
91 Marsh Ave Wadesboro, NC	4.0	2.5	2500	$1,750	$0.70	23d	1	1.12mi

Listing history 14 events

1. 2026-06-18
   days on market $20,000 Active 18 DOM
2. 2026-06-17
   days on market $20,000 Active 17 DOM
3. 2026-06-16
   days on market $20,000 Active 16 DOM
4. 2026-06-15
   days on market $20,000 Active 15 DOM
5. 2026-06-13
   days on market $20,000 Active 13 DOM
6. 2026-06-12
   days on market $20,000 Active 12 DOM
7. 2026-06-09
   days on market $20,000 Active 9 DOM
8. 2026-06-08
   days on market $20,000 Active 8 DOM
9. 2026-06-07
   days on market $20,000 Active 7 DOM
10. 2026-06-07
    days on market $20,000 Active 6 DOM
11. 2026-06-04
    days on market $20,000 Active 3 DOM
12. 2026-06-02
    days on market $20,000 Active 2 DOM
13. 2026-05-31
    remarks 124-char remark
14. 2026-05-31
    listed $20,000 Active 1 DOM

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $106 · $9/mo
• Projected year-2 tax: $164 · $14/mo
• Expected delta: +$58/yr (+$5/mo · 54.9%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,000
• − Mortgage interest: −$1,120
• − Property taxes: −$106
• − Insurance: −$100
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$582
• Taxable income: $15,732
• Est. tax owed @ 24.0%: −$3,776
• After-tax cash flow: $11,350/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: Anson County Schools
• NCES district ID: 3700180
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $34,961
• Composite: 21.41/100
• National rank: #8348
• State rank: #159 of 178 in NC

Livability — Wadesboro

• Score: 41/100
• State rank: #728
• US rank: #27112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadesboro, NC
• Population (ZIP): 9,595

Population outlook (Anson County) Hauer SSP2

• Today (2025): 23,572 people
• By 2030: 22,384 · -5.0%
• By 2040: 19,976 · -15.3%
• By 2050: 17,803 · -24.5%
• By 2075: 13,839 · -41.3%
• By 2100: 10,890 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 38% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Russian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Anson

• 2024 margin: Toss-up / Even · D 48.4% · R 50.9%
• 2008→2024 swing: -23.5pp toward R · 2008: 20.9pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+4.2 2016: D+12.6 2012: D+25.0 2008: D+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.62%
• Current HPI: 228.7798
• 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

1 event — show timeline

• 2026-05-31 Listed $20,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $106 · +4.5% YoY. Source: county tax records.