164 Ramblewood Ln · Henderson, NC 27537

$159,500

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 50 Days on market

Built 2000 1.06 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).

• Cash flow +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bedroom, 2 bath manufactured home situated on a 1.06-acre lot. Built in 2000, this 1,392 sq. ft. home is currently tenant-occupied on a month-to-month lease, providing immediate rental income with the flexibility to deliver vacant possession for an owner-occupant if desired. Significant upgrades include a new roof installed in October 2021 and a full remodel completed in 2017, which added updated carpet, vinyl flooring, appliances (refrigerator and range), and an upgraded electric furnace with coil. Showings require 48 hours notice per lease terms and must be coordinated with the leasing office; availability is Monday through Friday between 10 AM and 4 PM. Additional financials are available upon request - contact Jessica for more details or to arrange a showing.

Key facts

• 1.06 acre lot
• Built 2000
• Listed 50 days

Property features AI

Finance

• Other: Living area reported as 1,392 sq ft (owner provided)
• HOA & community: No association

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Double-wide manufactured home; One story
• Construction: Vinyl siding; Brick/mortar foundation; Shingle roof
• Exterior features: Property sits on a private-maintained road; Located on a cul-de-sac; Approximately 1.06-acre lot

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $75 ($897/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (14.7% below list).
• Recommended offer: $136k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.3% in Henderson — 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 58/100 on livability (#583 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime F, amenities F, commute F.
• Vance County Schools (rural): math 20% / reading 27% proficiency, ranked #166 of 178 in NC (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Vance County Middle School (math 13% / reading 17%, grade F, #459 of 475 statewide, top 97%, 797 students, 100% FRL); Vance County High School (math 12% / reading 27%, grade F, #499 of 535 statewide, top 94%, 958 students, 100% FRL) — zoned schools average 100% FRL vs 81% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 73 units permitted in Vance County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Vance County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $118k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $136,086 (14.7% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.85% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-21,129
• Equity at exit: $23,782

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-12,442
• Equity at exit: $13,791

Cash invested: $44,660 (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 27537

• Home prices YoY: -7.2%
• Active inventory: 133
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$836
• Tax from tax record: −$97 /mo · $1,170/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $75

Break-even live

Break-even rent $1,266

Max offer price $159,500

Occupancy floor 90%

Sensitivity live

Price	-10% $165	-5% $120	+0% $75	+5% $30	+10% $-16
Rent	-10% $-33	-5% $21	+0% $75	+5% $128	+10% $182
Rate	-1.0pp $155	-0.5pp $115	base $75	+0.5pp $33	+1.0pp $-9

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $159,500 Active 50 DOM
2. 2026-06-18
   days on market $159,500 Active 47 DOM
3. 2026-06-17
   days on market $159,500 Active 46 DOM
4. 2026-06-16
   days on market $159,500 Active 45 DOM
5. 2026-06-15
   days on market $159,500 Active 44 DOM
6. 2026-06-13
   days on market $159,500 Active 42 DOM
7. 2026-06-10
   price $159,500 Active 38 DOM
8. 2026-06-09
   days on market $164,000 Active 38 DOM
9. 2026-06-08
   days on market $164,000 Active 37 DOM
10. 2026-06-07
    days on market $164,000 Active 36 DOM
11. 2026-06-03
    days on market $164,000 Active 32 DOM
12. 2026-06-02
    days on market $164,000 Active 31 DOM
13. 2026-06-01
    days on market $164,000 Active 30 DOM
14. 2026-05-31
    days on market $164,000 Active 29 DOM
15. 2026-05-02
    listed $164,800 Active
16. 2026-04-29
    historical $164,800
17. 2025-12-15
    soldstatus $118,000 Sold 784-char remark

    Show marketing remark (784 chars)

    Spacious 3 bedroom, 2 bath manufactured home situated on a 1.06-acre lot. Built in 2000, this 1,392 sq. ft. home is currently tenant-occupied on a month-to-month lease, providing immediate rental income with the flexibility to deliver vacant possession for an owner-occupant if desired. Significant upgrades include a new roof installed in October 2021 and a full remodel completed in 2017, which added updated carpet, vinyl flooring, appliances (refrigerator and range), and an upgraded electric furnace with coil. Showings require 48 hours notice per lease terms and must be coordinated with the leasing office; availability is Monday through Friday between 10 AM and 4 PM. Additional financials are available upon request - contact Jessica for more details or to arrange a showing.

18. 2025-12-15
    soldstatus $118,000

    Show marketing remark (784 chars)

    Spacious 3 bedroom, 2 bath manufactured home situated on a 1.06-acre lot. Built in 2000, this 1,392 sq. ft. home is currently tenant-occupied on a month-to-month lease, providing immediate rental income with the flexibility to deliver vacant possession for an owner-occupant if desired. Significant upgrades include a new roof installed in October 2021 and a full remodel completed in 2017, which added updated carpet, vinyl flooring, appliances (refrigerator and range), and an upgraded electric furnace with coil. Showings require 48 hours notice per lease terms and must be coordinated with the leasing office; availability is Monday through Friday between 10 AM and 4 PM. Additional financials are available upon request - contact Jessica for more details or to arrange a showing.

19. 2025-11-22
    status Pending 784-char remark

    Show marketing remark (784 chars)

    Spacious 3 bedroom, 2 bath manufactured home situated on a 1.06-acre lot. Built in 2000, this 1,392 sq. ft. home is currently tenant-occupied on a month-to-month lease, providing immediate rental income with the flexibility to deliver vacant possession for an owner-occupant if desired. Significant upgrades include a new roof installed in October 2021 and a full remodel completed in 2017, which added updated carpet, vinyl flooring, appliances (refrigerator and range), and an upgraded electric furnace with coil. Showings require 48 hours notice per lease terms and must be coordinated with the leasing office; availability is Monday through Friday between 10 AM and 4 PM. Additional financials are available upon request - contact Jessica for more details or to arrange a showing.

20. 2025-11-04
    listed $146,999 Active 784-char remark

    Show marketing remark (784 chars)

    Spacious 3 bedroom, 2 bath manufactured home situated on a 1.06-acre lot. Built in 2000, this 1,392 sq. ft. home is currently tenant-occupied on a month-to-month lease, providing immediate rental income with the flexibility to deliver vacant possession for an owner-occupant if desired. Significant upgrades include a new roof installed in October 2021 and a full remodel completed in 2017, which added updated carpet, vinyl flooring, appliances (refrigerator and range), and an upgraded electric furnace with coil. Showings require 48 hours notice per lease terms and must be coordinated with the leasing office; availability is Monday through Friday between 10 AM and 4 PM. Additional financials are available upon request - contact Jessica for more details or to arrange a showing.

21. 2025-10-09
    status Pending
22. 2025-10-09
    historical
23. 2025-10-03
    price $147,500
24. 2025-09-11
    listed $149,900 Active
25. 2025-09-06
    historical
26. 2012-08-09
    soldstatus $24,000
27. 2012-08-09
    soldstatus $24,000
28. 2012-04-24
    listed $32,500
29. 2012-04-24
    listed $32,500

ⓘ 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: $1,170 · $97/mo
• Projected year-2 tax: $1,308 · $109/mo
• Expected delta: +$138/yr (+$12/mo · 11.8%)

ⓘ 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 ≥105°F today · 17 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: $16,330
• − Mortgage interest: −$8,934
• − Property taxes: −$1,170
• − Insurance: −$798
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$4,640
• Taxable loss: −$1,824
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $1,334/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: Vance County Schools
• NCES district ID: 3704650
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 27% ▼ -5.00%
• Median HH income: $34,323
• Composite: 19.29/100
• National rank: #8801
• State rank: #166 of 178 in NC

Livability — Henderson

• Score: 58/100
• State rank: #583
• US rank: #21468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,298
• Population (ZIP): 23,795

Population outlook (Vance County) Hauer SSP2

• Today (2025): 41,985 people
• By 2030: 40,286 · -4.0%
• By 2040: 36,372 · -13.4%
• By 2050: 32,466 · -22.7%
• By 2075: 24,229 · -42.3%
• By 2100: 17,784 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 44% Black 42% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Vance

• 2024 margin: D (+13.3) · D 56.3% · R 42.9%
• 2008→2024 swing: -13.3pp toward R · 2008: 26.6pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+19.2 2016: D+24.6 2012: D+28.3 2008: D+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.06%
• Current HPI: 270.3424
• 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

+407.1% since first listed

15 events — show timeline

• 2026-05-02 Listed $164,800 TMLS
• 2026-04-29 Coming Soon $164,800 TMLS
• 2025-12-15 Sold (Public Records) $118,000 Public Records
• 2025-12-15 Sold (MLS) $118,000 TMLS
• 2025-11-22 Pending — TMLS
• 2025-11-04 Listed $146,999 TMLS
• 2025-10-09 Pending — TMLS
• 2025-10-09 Listing Removed — TMLS
• 2025-10-03 Price Changed $147,500 TMLS
• 2025-09-11 Listed $149,900 TMLS
• 2025-09-06 Coming Soon — TMLS
• 2012-08-09 Sold (MLS) $24,000 AMLSNC
• 2012-08-09 Sold (MLS) $24,000 TMLS
• 2012-04-24 Listed $32,500 AMLSNC
• 2012-04-24 Listed $32,500 TMLS

Property tax history

+5.0%/yr

Latest (2025): $1,170 · +4.1% YoY. Source: county tax records.