500 Stephens Rd · Eden, NC 27326

$94,900

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 126 Days on market

Built 1995 2.96 ac lot ↓ 13% since listing

---

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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks

Double wide manufactured home on over 2 acres in Ruffin. This home offers 2 bedrooms and 2 full bathrooms. The open-concept features a spacious living room with tile hearth for a wood stove, flowing into the dining area. The kitchen is open to the living space and offers abundant counter space. There is a wooden front porch and a large covered back deck overlooking the yard. Also includes a large wooden storage building. Offer Instructions are in the Agent Only Section.

Key facts

• Wood stove
• Tile hearth
• Over 2 acres

Tags

• DOUBLE WIDE MANUFACTURED HOME
• OVER 2 ACRES
• SPACIOUS LIVING ROOM
• TILE HEARTH
• WOOD STOVE
• ABUNDANT COUNTER SPACE

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Driveway; See remarks for additional parking details
• Utilities: Well water; Septic tank (details referenced in remarks); Electric water heater
• Home design: Manufactured home (double wide); Single-story; Built in 1995; Existing structure
• Construction: Vinyl siding; Construction details referenced in remarks; Crawl space foundation
• Exterior features: Exterior details referenced in remarks; No pool

Interior

• Kitchen: Dishwasher; Electric water heater; Some appliance details noted in remarks
• Bedrooms: Bedrooms located on the main level
• Flooring: Carpet; Laminate; Vinyl; Additional flooring details noted in remarks
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump for heating and cooling; Electric heating components; Additional heating details noted in remarks
• Interior features: Primary bedroom on the main level; Ceiling fan(s); Some details listed in remarks
• Laundry & utility: Washer hookup; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.3% in Eden — 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 67/100 on livability (#224 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Rockingham County Schools (rural): math 38% / reading 40% proficiency, ranked #120 of 178 in NC (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary (math 37% / reading 42%, grade F, #694 of 1,410 statewide, top 53%, 308 students, 68% FRL); Rockingham County Middle (math 45% / reading 48%, grade D+, #146 of 475 statewide, top 31%, 753 students, 51% FRL); Rockingham County High (math 67% / reading 50%, grade C, #235 of 535 statewide, top 45%, 882 students, 42% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 21 active listings in the ZIP; 344 units permitted in Rockingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rockingham County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($84k) 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 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?
5. Crime grade is D 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?
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: 1.03% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.67%
• DSCR: 1.34
• GRM: 8.1

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-4,574
• Equity at exit: $14,150

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $9,876
• Equity at exit: $8,205

Cash invested: $26,572 (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 27326

• Home prices YoY: -2.8%
• Active inventory: 21
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $170

Break-even live

Break-even rent $760

Max offer price $94,900

Occupancy floor 78%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $94,900 Active 126 DOM
2. 2026-06-17
   days on market $94,900 Active 125 DOM
3. 2026-06-16
   days on market $94,900 Active 124 DOM
4. 2026-06-15
   days on market $94,900 Active 123 DOM
5. 2026-06-14
   days on market $94,900 Active 121 DOM
6. 2026-06-13
   days on market $94,900 Active 120 DOM
7. 2026-06-10
   days on market $94,900 Active 118 DOM
8. 2026-06-09
   days on market $94,900 Active 117 DOM
9. 2026-06-08
   days on market $94,900 Active 116 DOM
10. 2026-06-07
    days on market $94,900 Active 115 DOM
11. 2026-06-03
    days on market $94,900 Active 111 DOM
12. 2026-06-02
    days on market $94,900 Active 110 DOM
13. 2026-06-01
    days on market $94,900 Active 109 DOM
14. 2026-05-31
    days on market $94,900 Active 108 DOM
15. 2026-05-31
    days on market $94,900 Active 107 DOM
16. 2026-04-27
    price $104,900
17. 2026-03-23
    price $119,900
18. 2026-02-12
    listed $134,900 Active
19. 2024-05-09
    price $100,000
20. 2024-05-04
    price $120,000

ⓘ 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: $778 · $65/mo
• Expected delta: +$22/yr (+$2/mo · 2.9%)

ⓘ 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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,699
• − Mortgage interest: −$5,316
• − Property taxes: −$756
• − Insurance: −$474
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,761
• Taxable income: $520
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $1,915/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: Rockingham County Schools
• NCES district ID: 3703990
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $38,914
• Composite: 32.6/100
• National rank: #5673
• State rank: #120 of 178 in NC

Livability — Eden

• Score: 67/100
• State rank: #224
• US rank: #10535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 22,926
• Population (ZIP): 3,387

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 87,103 people
• By 2030: 83,763 · -3.8%
• By 2040: 76,082 · -12.7%
• By 2050: 68,106 · -21.8%
• By 2075: 52,531 · -39.7%
• By 2100: 39,871 · -54.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 21% Two or more races 8%
• Common ancestry: Serbian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 5% Korean 1%

Political lean MEDSL · Rockingham

• 2024 margin: Solid R (+35.9) · D 31.7% · R 67.6%
• 2008→2024 swing: -19.9pp toward R · 2008: -16.0pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+32.0 2016: R+30.0 2012: R+21.3 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.70%
• Current HPI: 231.4044
• 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

-12.6% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $104,900 Triad MLS
• 2026-03-23 Price Changed $119,900 Triad MLS
• 2026-02-12 Listed $134,900 Triad MLS
• 2024-05-09 Price Changed $100,000 Triad MLS
• 2024-05-04 Price Changed $120,000 Triad MLS

Property tax history

+3.5%/yr

Latest (2025): $756 · +0.0% YoY. Source: county tax records.