375 Marshall Johnson Rd · Pilot Mountain, NC 27041

$79,050

3 bd · 2.0 ba · 1,378 sqft · Manufactured public records · 149 Days on market

Built 1993 1.00 ac lot ↓ 9% since listing

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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
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3BR, 2BA DW mobile home on 1ac per tax card. Sold AS IS condition. Use caution when showing/viewing property; soft floor spots inside front door, master bath around toilet, hallway (has a wood board down on floor). Please do not walk out onto rear deck - appears deteriorated and may be unstable.

Key facts

• 1 acre lot
• Built 1993
• Listed 148 days

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Driveway
• Utilities: Well water; Septic tank; Electric water heater
• Home design: Residential manufactured (double wide); One story; Built in 1993; Great room fireplace
• Construction: Masonite exterior; Crawl space foundation; One fireplace located in the great room
• Exterior features: Cleared lot; No fencing; No pool; Private maintained road

Interior

• Kitchen: Dishwasher; Range; Range hood; Electric water heater in kitchen area
• Bedrooms: Bedrooms on main level (multiple rooms listed on main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (electric)
• Interior features: Ceiling fan(s); Primary bedroom located on main level
• Laundry & utility: Washer hookup on main level; Dryer connection on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.2% in Pilot Mountain — 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 65/100 on livability (#309 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, employment F.
• Surry County Schools (rural): math 52% / reading 52% proficiency, ranked #60 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Westfield Elementary (math 52% / reading 52%, grade C-, #354 of 1,410 statewide, top 28%, 176 students, 72% FRL); Pilot Mountain Middle (math 47% / reading 53%, grade C, #113 of 475 statewide, top 25%, 454 students, 57% FRL); East Surry High (math 62% / reading 67%, grade B-, #164 of 535 statewide, top 32%, 594 students, 45% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 55 active listings in the ZIP; 243 units permitted in Surry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Surry County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,564 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.38% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $263,198
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1063 Pell Rd	0.70mi	3/2.0	1,344 (-2%)	2mo	$257,000	$191	61

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

Projected returns pro-forma

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

5-year hold

• IRR: 12.7%
• Equity multiple: 1.51×
• Total profit: $11,226
• Equity at exit: $11,787

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $40,665
• Equity at exit: $6,835

Cash invested: $22,134 (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 27041

• Home prices YoY: -5.0%
• Active inventory: 55
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,091 medium
• Mortgage (P&I): −$415
• Tax from tax record: −$37 /mo · $438/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $378

Break-even live

Break-even rent $613

Max offer price $79,050

Occupancy floor 60%

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: $19,762
• Closing costs: $2,372
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $79,050 Active 149 DOM
2. 2026-06-18
   days on market $79,050 Active 148 DOM
3. 2026-06-17
   days on market $79,050 Active 147 DOM
4. 2026-06-16
   days on market $79,050 Active 146 DOM
5. 2026-06-15
   days on market $79,050 Active 145 DOM
6. 2026-06-14
   days on market $79,050 Active 143 DOM
7. 2026-06-12
   days on market $79,050 Active 142 DOM
8. 2026-06-09
   days on market $79,050 Active 139 DOM
9. 2026-06-08
   days on market $79,050 Active 138 DOM
10. 2026-06-07
    days on market $79,050 Active 137 DOM
11. 2026-06-03
    days on market $79,050 Active 133 DOM
12. 2026-06-02
    days on market $79,050 Active 132 DOM
13. 2026-06-01
    days on market $79,050 Active 131 DOM
14. 2026-05-31
    days on market $79,050 Active 130 DOM
15. 2026-05-30
    days on market $79,050 Active 129 DOM
16. 2026-02-21
    price $85,000
17. 2026-01-21
    listed $93,600 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: $438 · $37/mo
• Projected year-2 tax: $648 · $54/mo
• Expected delta: +$210/yr (+$17/mo · 47.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,090
• − Mortgage interest: −$4,428
• − Property taxes: −$438
• − Insurance: −$395
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,300
• Taxable income: $3,434
• Est. tax owed @ 24.0%: −$824
• After-tax cash flow: $3,709/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: Surry County Schools
• NCES district ID: 3704410
• Math proficiency: 52% ▲ 4.00%
• Reading proficiency: 52% ▲ 2.00%
• Median HH income: $37,488
• Composite: 43.26/100
• National rank: #3054
• State rank: #60 of 178 in NC

Livability — Pilot Mountain

• Score: 65/100
• State rank: #309
• US rank: #12831

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,506

Population outlook (Surry County) Hauer SSP2

• Today (2025): 69,473 people
• By 2030: 66,964 · -3.6%
• By 2040: 60,967 · -12.2%
• By 2050: 54,102 · -22.1%
• By 2075: 38,806 · -44.1%
• By 2100: 24,711 · -64.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 5% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Serbian 4% Lithuanian 3% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 3% Spanish 2%

Political lean MEDSL · Surry

• 2024 margin: Solid R (+53.3) · D 23.0% · R 76.3%
• 2008→2024 swing: -25.4pp toward R · 2008: -28.0pp · 2024: -53.3pp
• All cycles: 2024: R+53.3 2020: R+51.4 2016: R+50.7 2012: R+36.9 2008: R+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.23%
• Current HPI: 212.7113
• 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

-9.2% since first listed

2 events — show timeline

• 2026-02-21 Price Changed $85,000 Triad MLS
• 2026-01-21 Listed $93,600 Triad MLS

Property tax history

+2.0%/yr

Latest (2025): $438 · +23.3% YoY. Source: county tax records.