2025 Hickory Fork Rd · Walnut Cove, NC 27052

$180,000

3 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 81 Days on market

Built 2002 0.49 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.1/10.0

Listing remarks MLS

Beautiful manufactured home located in a quiet country setting. Move in ready and newly updated with carpet, vinyl, paint, new countertops, new stainless steel appliances and all new fixtures throughout! Master Bath features a garden tub and separate shower. Schedule your showing today!

Key facts

• Updated finishes
• Modern kitchen
• 0.49 acre lot

Tags

• PRIVATE WOODED SETTING
• MINUTES FROM BELLOWS LAKE
• SURROUNDED BY MATURE TREES
• UPDATED FINISHES
• MODERN KITCHEN
• SPACIOUS LIVING AREAS

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway with gravel surface
• Utilities: Well water source; Septic tank for sewer; Electric water heater
• Home design: Manufactured double-wide home; One-story
• Construction: Built in 2002; Aluminum and vinyl siding; Crawl space foundation
• Exterior features: Publicly maintained road access; Well water

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-210 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (38.7% below list).
• Recommended offer: $110k (38.7% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.8% in Walnut Cove — 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 63/100 on livability (#420 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D+, amenities F, commute F.
• Stokes County Schools (rural): math 48% / reading 46% proficiency, ranked #78 of 178 in NC (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 230 units permitted in Stokes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Stokes County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago 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.
• Current owner paid $103k; list at $180k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,314 (38.7% 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 81 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
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. 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: 0.61% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 13.6

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $84,543
• Equity at exit: $162,158

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $259,344
• Equity at exit: $349,700

Cash invested: $50,400 (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 27052

• Home prices YoY: 12.1%
• Active inventory: 63
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $-210

Break-even live

Break-even rent $1,370

Max offer price $142,815

Occupancy floor —

Sensitivity live

Price	-10% $-109	-5% $-160	+0% $-210	+5% $-261	+10% $-312
Rent	-10% $-298	-5% $-254	+0% $-210	+5% $-167	+10% $-123
Rate	-1.0pp $-120	-0.5pp $-165	base $-210	+0.5pp $-257	+1.0pp $-305

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-05-14
   status Pending
2. 2026-04-27
   historical Due Diligence Period
3. 2026-03-21
   status Active
4. 2026-03-21
   status Pending
5. 2026-02-28
   historical Due Diligence Period
6. 2026-02-20
   listed $180,000 Active
7. 2019-10-02
   soldstatus $103,000 Sold 288-char remark

   Show marketing remark (288 chars)

   -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

8. 2019-10-02
   soldstatus $103,000 288-char remark

   Show marketing remark (288 chars)

   -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

9. 2019-10-02
   soldstatus $103,000 288-char remark

   Show marketing remark (288 chars)

   -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

10. 2019-10-02
    soldstatus $103,000

    Show marketing remark (288 chars)

    -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

11. 2019-09-14
    status Pending 288-char remark

    Show marketing remark (288 chars)

    Beautiful manufactured home located in a quiet country setting. Move in ready and newly updated with carpet, vinyl, paint, new countertops, new stainless steel appliances and all new fixtures throughout! Master Bath features a garden tub and separate shower. Schedule your showing today!

12. 2019-08-18
    historical Due Diligence Period 288-char remark

    Show marketing remark (288 chars)

    Beautiful manufactured home located in a quiet country setting. Move in ready and newly updated with carpet, vinyl, paint, new countertops, new stainless steel appliances and all new fixtures throughout! Master Bath features a garden tub and separate shower. Schedule your showing today!

13. 2019-08-06
    listed $119,900 Active 288-char remark

    Show marketing remark (288 chars)

    -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

14. 2019-08-06
    listed $119,900 288-char remark

    Show marketing remark (288 chars)

    -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

15. 2019-08-06
    listed $119,900 288-char remark

    Show marketing remark (288 chars)

    -Beautiful Manufactured Home Located In A Quiet Country Setting. Move In Ready And Newly Updated With Carpet, Vinyl, Paint, New Countertops, New Stainless Steel Appliances And All New Fixtures Throughout! Master Bath Features A Garden Tub And Separate Shower. Schedule Your Showing Today!

16. 2019-02-13
    soldstatus $25,000 Sold
17. 2019-01-24
    status Pending
18. 2019-01-21
    price $34,900
19. 2018-10-31
    price $42,900
20. 2018-10-03
    price $49,900
21. 2018-09-21
    listed $54,900 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: $756 · $63/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$720/yr (+$60/mo · 95.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $13,238
• − Mortgage interest: −$10,083
• − Property taxes: −$756
• − Insurance: −$900
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$5,236
• Taxable loss: −$5,856
• Est. tax savings @ 24.0%: +$1,405
• After-tax cash flow: $-1,121/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: Stokes County Schools
• NCES district ID: 3704380
• Math proficiency: 48% ▲ 5.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $42,284
• Composite: 39.58/100
• National rank: #3928
• State rank: #78 of 178 in NC

Livability — Walnut Cove

• Score: 63/100
• State rank: #420
• US rank: #15677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,599

Population outlook (Stokes County) Hauer SSP2

• Today (2025): 44,106 people
• By 2030: 42,264 · -4.2%
• By 2040: 37,833 · -14.2%
• By 2050: 32,818 · -25.6%
• By 2075: 23,281 · -47.2%
• By 2100: 15,676 · -64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 8% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Stokes

• 2024 margin: Solid R (+59.6) · D 19.8% · R 79.4%
• 2008→2024 swing: -24.6pp toward R · 2008: -35.0pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+57.8 2016: R+55.6 2012: R+42.9 2008: R+35.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.09%
• Current HPI: 260.5894
• 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

+227.9% since first listed

21 events — show timeline

• 2026-05-14 Pending — Triad MLS
• 2026-04-27 Contingent — Triad MLS
• 2026-03-21 Relisted — Triad MLS
• 2026-03-21 Pending — Triad MLS
• 2026-02-28 Contingent — Triad MLS
• 2026-02-20 Listed $180,000 Triad MLS
• 2019-10-02 Sold (Public Records) $103,000 Public Records
• 2019-10-02 Sold (MLS) $103,000 TMLS
• 2019-10-02 Sold (MLS) $103,000 AMLSNC
• 2019-10-02 Sold (MLS) $103,000 Triad MLS
• 2019-09-14 Pending — Triad MLS
• 2019-08-18 Contingent — Triad MLS
• 2019-08-06 Listed $119,900 TMLS
• 2019-08-06 Listed $119,900 AMLSNC
• 2019-08-06 Listed $119,900 Triad MLS
• 2019-02-13 Sold (MLS) $25,000 Triad MLS
• 2019-01-24 Pending — Triad MLS
• 2019-01-21 Price Changed $34,900 Triad MLS
• 2018-10-31 Price Changed $42,900 Triad MLS
• 2018-10-03 Price Changed $49,900 Triad MLS
• 2018-09-21 Listed $54,900 Triad MLS

Property tax history

+4.8%/yr

Latest (2025): $756 · +30.3% YoY. Source: county tax records.