141 10th Ave SE · Hickory, NC 28602

$210,000

3 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 19 Days on market

Built 1940 10,454 sqft lot Est $252k · 17% under

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special | Estate Sale | Pre-Foreclosure Opportunity So much potential with this 3 bedroom 2 bathroom ranch home located in the heart of Hickory. Built in 1940, this home offers approximately 1,536 square feet of living space plus an unfinished basement ready for your vision. Whether you’re an investor, flipper or buyer looking to build equity through renovations, this property offers all of these unique opportunities. Bring your contractor, your creativity and your plans to transform this property into something special. Conveniently located near downtown Hickory, shopping, dining, schools and major highways. * * * Estate Sale and Pre-Foreclosure * * * The seller i

Key facts

• Heart of hickory
• Unfinished basement
• Major highways

Tags

• UNFINISHED BASEMENT
• HEART OF HICKORY
• NEAR DOWNTOWN HICKORY
• SHOPPING DINING SCHOOLS
• MAJOR HIGHWAYS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built; One level; Slab foundation; R-4 zoning
• Construction: Block and hardboard siding
• Exterior features: Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air; Full, unfinished basement; 3 total rooms
• Laundry & utility: Washer and dryer located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $64 ($763/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 $173k (17.6% below list).
• Recommended offer: $173k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Hickory — 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 71/100 on livability (#92 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Hickory City Schools (urban): math 43% / reading 44% proficiency, ranked #95 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Longview Elementary (math 32% / reading 27%, grade F, #975 of 1,410 statewide, top 71%, 318 students, 99% FRL); Northview Middle (math 48% / reading 52%, grade C, #113 of 475 statewide, top 25%, 480 students, 55% FRL); Hickory High (math 44% / reading 56%, grade D+, #309 of 535 statewide, top 58%, 1,014 students, 62% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 211 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Catawba County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,940 (17.6% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.82% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $251,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1177 2nd Street Pl SE	0.27mi	4/3.0 (+1)	1,486 (-3%)	4mo	$219,000	$147	70
932 3rd Street Pl SW	0.35mi	3/2.0	1,420 (-8%)	12mo	$200,000	$141	61
619 1st St SW	0.33mi	3/2.5	1,378 (-10%)	14mo	$240,000	$174	53
634 7th Avenue Pl SE	0.55mi	3/1.5	1,422 (-7%)	10mo	$233,500	$164	52
261 8th Avenue Dr SE	0.31mi	4/2.0 (+1)	1,350 (-12%)	13mo	$220,000	$163	50
331 5th Ave SE	0.41mi	3/1.5	1,334 (-13%)	11mo	$200,000	$150	47
7486 Buff & Allen Rd	0.67mi	3/2.0	1,440 (-6%)	17mo	$150,000	$104	44
514 3rd Avenue Dr SE	0.48mi	3/1.0	1,356 (-12%)	14mo	$245,000	$181	43
425 4th Street Pl SW	0.68mi	3/2.0	1,403 (-9%)	15mo	$228,000	$163	41
642 7th Ave SE	0.61mi	3/2.0	1,375 (-10%)	16mo	$255,000	$185	41
218 5th St SE	0.68mi	3/2.0	1,334 (-13%)	11mo	$225,000	$169	37
1431 2nd Dr SW	0.58mi	3/1.0	1,312 (-15%)	15mo	$235,000	$179	32

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-28,002
• Equity at exit: $31,312

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-10,855
• Equity at exit: $18,157

Cash invested: $58,800 (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 28602

• Home prices YoY: -13.6%
• Rents YoY: 4.2%
• Active inventory: 211
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $64

Break-even live

Break-even rent $1,649

Max offer price $210,000

Occupancy floor 91%

Sensitivity live

Price	-10% $182	-5% $123	+0% $64	+5% $4	+10% $-55
Rent	-10% $-73	-5% $-5	+0% $64	+5% $132	+10% $200
Rate	-1.0pp $169	-0.5pp $117	base $64	+0.5pp $9	+1.0pp $-46

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 8th Avenue Dr SE Hickory, NC	3.0	2.5	1298	$1,665	$1.28	15d	1	0.24mi
133 8th Avenue Dr SE Hickory, NC	3.0	2.5	1298	$1,695	$1.31	15d	1	0.25mi
183 8th Avenue Dr SE Hickory, NC	3.0	2.5	1300	$1,675	$1.29	15d	1	0.25mi
735 8th Avenue Ct SE Hickory, NC	3.0	2.0	1334	$1,795	$1.35	22d	1	0.70mi
1 N Center St Hickory, NC	1.0–2.0	1.0–2.0	991	$2,344	$2.36	15d	6	0.87mi
1620 2nd St SW Hickory, NC	3.0	1.0	1054	$1,350	$1.28	5d	1	1.02mi

Listing history 14 events

1. 2026-06-17
   status $210,000 Pending 19 DOM
2. 2026-06-16
   days on market $210,000 Active Under Contract 19 DOM
3. 2026-06-15
   days on market $210,000 Active Under Contract 18 DOM
4. 2026-06-14
   days on market $210,000 Active Under Contract 16 DOM
5. 2026-06-13
   days on market $210,000 Active Under Contract 15 DOM
6. 2026-06-10
   days on market $210,000 Active Under Contract 13 DOM
7. 2026-06-09
   days on market $210,000 Active Under Contract 12 DOM
8. 2026-06-08
   days on market $210,000 Active Under Contract 11 DOM
9. 2026-06-07
   days on market $210,000 Active Under Contract 10 DOM
10. 2026-06-05
    days on market $210,000 Active Under Contract 7 DOM
11. 2026-06-02
    days on market $210,000 Active Under Contract 5 DOM
12. 2026-05-31
    days on market $210,000 Active Under Contract 3 DOM
13. 2026-05-30
    pricestatusdays on market $210,000 Active Under Contract 2 DOM
14. 2026-05-28
    listed $110,000 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: $1,366 · $114/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$356/yr (+$30/mo · 26.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,753
• − Mortgage interest: −$11,763
• − Property taxes: −$1,366
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$6,109
• Taxable loss: −$2,856
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $1,449/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: Hickory City Schools
• NCES district ID: 3702190
• Math proficiency: 43% ▲ 2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $38,399
• Composite: 36.29/100
• National rank: #4700
• State rank: #95 of 178 in NC

Livability — Hickory

• Score: 71/100
• State rank: #92
• US rank: #6361

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

• Census place: Hickory, NC
• County: Catawba County · 105,763 people
• City population: 84,442
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 31,113
• Household income: $62,048
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 642.0

Population outlook (Catawba County) Hauer SSP2

• Today (2025): 156,513 people
• By 2030: 155,267 · -0.8%
• By 2040: 151,110 · -3.5%
• By 2050: 145,524 · -7.0%
• By 2075: 134,047 · -14.4%
• By 2100: 119,424 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 10% Two or more races 7% Asian 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 3% Italian 3% Iranian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 4%

Political lean MEDSL · Catawba

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+37.0 2016: R+38.0 2012: R+29.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.01%
• Current HPI: 259.947
• Rent YoY: ▲ 4.16%
• 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

• 2026-05-28 Listed $110,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2024): $1,366 · +0.0% YoY. Source: county tax records.