1357 Airport Rhodhiss Rd #6 · Rhodhiss, NC 28601

$150,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 49 Days on market

Built 1999 0.74 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Schools +3.8/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all Investors! This 3Bed/2Bath manufactured home located on Lot #6 is currently leased. 1999 Broo MHP with central air and electric heat pump. Selling Units #2-6.

Key facts

• 0.74 acre lot
• Built 1999
• Listed 49 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Septic system installed
• Home design: Manufactured single-family residence; One story (entry level: main)
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Cleared lot; Gravel road access on a privately maintained road; Lot approximately 0.74 acres

Interior

• Kitchen: Appliances listed as 'Other'
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: 7 total rooms; Other appliances included
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/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 $141k (6.2% below list).
• Recommended offer: $141k (6.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#515 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ray Childers Elementary (math 40% / reading 39%, grade F, #694 of 1,410 statewide, top 53%, 457 students, 75% FRL); East Burke High (math 67% / reading 52%, grade C+, #216 of 535 statewide, top 43%, 879 students, 64% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 423 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 422 units permitted in Burke County in 2024 (94 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 $4k of value loss. Plan a longer hold.
• Burke County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $140,713 (6.2% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 0.94% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-8,565
• Equity at exit: $22,365

10-year hold

• IRR: 5.1%
• Equity multiple: 1.39×
• Total profit: $16,370
• Equity at exit: $12,969

Cash invested: $42,000 (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 28601

• Home prices YoY: -27.2%
• Rents YoY: 3.9%
• Active inventory: 423
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,407 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $228

Break-even live

Break-even rent $1,119

Max offer price $150,000

Occupancy floor 79%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2290 Liberty Church Rd Hickory, NC	2.0	1.0	750	$800	$1.07	13d	1	0.29mi

Listing history 17 events

1. 2026-06-19
   days on market $150,000 Active 49 DOM
2. 2026-06-18
   days on market $150,000 Active 48 DOM
3. 2026-06-17
   days on market $150,000 Active 47 DOM
4. 2026-06-16
   days on market $150,000 Active 46 DOM
5. 2026-06-15
   days on market $150,000 Active 45 DOM
6. 2026-06-14
   days on market $150,000 Active 43 DOM
7. 2026-06-13
   days on market $150,000 Active 42 DOM
8. 2026-06-10
   days on market $150,000 Active 40 DOM
9. 2026-06-09
   days on market $150,000 Active 39 DOM
10. 2026-06-08
    days on market $150,000 Active 38 DOM
11. 2026-06-07
    days on market $150,000 Active 37 DOM
12. 2026-06-05
    days on market $150,000 Active 34 DOM
13. 2026-06-02
    days on market $150,000 Active 32 DOM
14. 2026-06-01
    days on market $150,000 Active 31 DOM
15. 2026-05-31
    days on market $150,000 Active 30 DOM
16. 2026-05-30
    days on market $150,000 Active 29 DOM
17. 2026-05-01
    listed $150,000 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: $416 · $35/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$814/yr (+$68/mo · 196.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,886
• − Mortgage interest: −$8,402
• − Property taxes: −$416
• − Insurance: −$750
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$4,364
• Taxable income: $252
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,674/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: Burke County Schools
• NCES district ID: 3700480
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $38,342
• Composite: 37.51/100
• National rank: #4400
• State rank: #89 of 178 in NC

Livability — Rhodhiss

• Score: 60/100
• State rank: #515
• US rank: #18892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Catawba County · 105,763 people
• City population: 282
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 53,329
• Household income: $67,817
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1276.0

Population outlook (Burke County) Hauer SSP2

• Today (2025): 86,552 people
• By 2030: 84,123 · -2.8%
• By 2040: 78,165 · -9.7%
• By 2050: 71,099 · -17.9%
• By 2075: 56,264 · -35.0%
• By 2100: 44,742 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 9% Black 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 4% Slovak 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Burke

• 2024 margin: Solid R (+41.2) · D 29.0% · R 70.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -19.2pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+40.1 2016: R+39.4 2012: R+23.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.98%
• Current HPI: 241.0743
• Rent YoY: ▲ 3.91%
• Metro: Hickory-Lenoir-Morganton, NC
• 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

• 2026-05-01 Listed $150,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+10.8%/yr

Latest (2025): $416 · +0.4% YoY. Source: county tax records.