135 Watson Ave · Taylorsville, NC 28681

$144,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 23 Days on market

Built 1988 0.46 ac lot Est $233k · 38% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.7/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, contractors, and visionary buyers! If you’ve been looking for the perfect project to add to your portfolio, 135 Watson Avenue is the opportunity you've been waiting for. Brimming with untapped potential, this 3-bedroom, 2-bathroom home features a solid 1,620 sq. ft. footprint in the established Winter Haven subdivision. With a little vision, a renovation plan, and some TLC, this property is poised to be transformed into a stunning primary residence or a highly profitable rental/resale asset. Located ideally close to Taylorsville, Hickory and Statesville making either commute easily and timely. Sold strictly as-is; ideal for cash buyers or conventional renovation

Key facts

• 0.46 acre lot
• Built 1988
• Listed 22 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: County water; Septic system installed
• Home design: Manufactured doublewide single-family residence; One story
• Construction: Manufactured construction; Hardboard siding
• Exterior features: Shed(s) on the property; Road access via gravel and paved surfaces; Publicly maintained road

Interior

• Kitchen: Electric oven
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 8 total rooms; Electric water heater; Permanent foundation; One-level living
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $144k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $142k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.0% in Taylorsville — 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 69/100 on livability (#159 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools C-, amenities F, commute F.
• Alexander County Schools (rural): math 52% / reading 55% proficiency, ranked #52 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 135 active listings in the ZIP; 113 units permitted in Alexander County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Alexander County population projected at -18% 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 $40k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($142k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $141,840 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.17% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.65%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $233,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 Carter Loop	0.34mi	3/2.0	1,568 (-3%)	24mo	$226,000	$144	59

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,593
• Equity at exit: $21,471

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $33,455
• Equity at exit: $12,450

Cash invested: $40,320 (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 28681

• Home prices YoY: -11.9%
• Active inventory: 135
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,681 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$121 /mo · $1,457/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $392

Break-even live

Break-even rent $1,185

Max offer price $144,000

Occupancy floor 72%

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $144,000 Active 23 DOM
2. 2026-06-18
   days on market $144,000 Active 22 DOM
3. 2026-06-17
   days on market $144,000 Active 21 DOM
4. 2026-06-16
   days on market $144,000 Active 20 DOM
5. 2026-06-15
   days on market $144,000 Active 19 DOM
6. 2026-06-14
   pricedays on market $144,000 Active 17 DOM
7. 2026-06-13
   days on market $149,000 Active 16 DOM
8. 2026-06-10
   days on market $149,000 Active 14 DOM
9. 2026-06-09
   days on market $149,000 Active 13 DOM
10. 2026-06-08
    days on market $149,000 Active 12 DOM
11. 2026-06-07
    days on market $149,000 Active 11 DOM
12. 2026-06-03
    days on market $149,000 Active 7 DOM
13. 2026-06-02
    days on market $149,000 Active 6 DOM
14. 2026-06-01
    days on market $149,000 Active 5 DOM
15. 2026-05-31
    days on market $149,000 Active 4 DOM
16. 2026-05-30
    days on market $149,000 Active 3 DOM
17. 2026-05-27
    listed $149,000 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: $1,457 · $121/mo
• Projected year-2 tax: $1,457 · $121/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,173
• − Mortgage interest: −$8,066
• − Property taxes: −$1,457
• − Insurance: −$720
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$4,189
• Taxable income: $2,514
• Est. tax owed @ 24.0%: −$603
• After-tax cash flow: $4,095/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: Alexander County Schools
• NCES district ID: 3700090
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $41,189
• Composite: 44.84/100
• National rank: #2732
• State rank: #52 of 178 in NC

Livability — Taylorsville

• Score: 69/100
• State rank: #159
• US rank: #8794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 26,117

Population outlook (Alexander County) Hauer SSP2

• Today (2025): 36,916 people
• By 2030: 36,085 · -2.3%
• By 2040: 33,528 · -9.2%
• By 2050: 30,229 · -18.1%
• By 2075: 23,159 · -37.3%
• By 2100: 15,981 · -56.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 5% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Alexander

• 2024 margin: Solid R (+59.9) · D 19.7% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.4pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+58.0 2016: R+55.9 2012: R+44.6 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.79%
• Current HPI: 227.497
• 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

1 event — show timeline

• 2026-05-27 Listed $149,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+13.9%/yr

Latest (2025): $1,457 · +214.2% YoY. Source: county tax records.