115 Church St · Burnsville, NC 28714

$215,000

3 bd · 1.5 ba · 1,298 sqft · SingleFamily public records · 2 Days on market

Built 1951 0.61 ac lot Est $335k · 36% under

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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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• Schools +4.5/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Builder and renovation opportunity near downtown Burnsville. This mid-century home has reached the stage where it needs a comprehensive rehabilitation, but it offers the location, lot size, and underlying structure that make restoration projects worthwhile. The home is vacant, accessible, and ready for evaluation by contractors, investors, and experienced remodelers. Situated on a generous in-town parcel within walking distance of Burnsville's historic town center, the property lies within the footprint of the former Stanley McCormick School campus, an important part of Burnsville's educational history. Several historic buildings from that era remain nearby, lending the neighborhood a disti

Key facts

• Builder opportunity
• Lot size
• Vacant

Tags

• BUILDER OPPORTUNITY
• RENOVATION OPPORTUNITY
• LOT SIZE
• UNDERLYING STRUCTURE
• VACANT
• ACCESSIBLE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached garage (1 car, main level)
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; One level; R-10 zoning; Completed development
• Construction: Wood and other exterior materials; Basement foundation
• Exterior features: Cleared lot; Located on a cul-de-sac; Roads are dirt and paved; publicly maintained

Interior

• Kitchen: Electric oven
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Oil heating; No central air
• Interior features: 8 total rooms; Partial basement; Fireplace
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/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 $187k (13.0% below list).
• Recommended offer: $187k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.3% in Burnsville — 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 74/100 on livability (#64 in NC, #4,938 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, commute F, employment F.
• Yancey County Schools (rural): math 55% / reading 52% proficiency, ranked #56 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 310 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 100 units permitted in Yancey County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Yancey County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,099 (13.0% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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?
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: 0.87% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $334,884
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Love Fox Rd	0.53mi	4/1.0 (+1)	1,152 (-11%)	10mo	$297,000	$258	42

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-22,000
• Equity at exit: $32,057

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,907
• Equity at exit: $18,589

Cash invested: $60,200 (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 28714

• Home prices YoY: -9.3%
• Active inventory: 310
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,871 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $203

Break-even live

Break-even rent $1,614

Max offer price $215,000

Occupancy floor 84%

Sensitivity live

Price	-10% $325	-5% $264	+0% $203	+5% $142	+10% $81
Rent	-10% $55	-5% $129	+0% $203	+5% $277	+10% $351
Rate	-1.0pp $311	-0.5pp $258	base $203	+0.5pp $147	+1.0pp $91

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 W Main St Burnsville, NC	2.0	1.0	1057	$1,800	$1.70	22d	1	0.24mi
481 Charlie Brown Rd Burnsville, NC	4.0	2.0	1650	$2,250	$1.36	14d	1	1.24mi

Listing history 3 events

1. 2026-06-18
   days on market $215,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $215,000 Active 1 DOM

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$1,069/yr (+$89/mo · 154.0%)

ⓘ 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 3/10 Moderate 8 d/yr ≥89°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,452
• − Mortgage interest: −$12,043
• − Property taxes: −$694
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − Depreciation: −$6,255
• Taxable loss: −$1,207
• Est. tax savings @ 24.0%: +$290
• After-tax cash flow: $2,728/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: Yancey County Schools
• NCES district ID: 3705070
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 52% ▲ 5.00%
• Median HH income: $37,576
• Composite: 44.52/100
• National rank: #2795
• State rank: #56 of 178 in NC

Livability — Burnsville

• Score: 74/100
• State rank: #64
• US rank: #4938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnsville, NC
• Population (ZIP): 16,621

Population outlook (Yancey County) Hauer SSP2

• Today (2025): 16,797 people
• By 2030: 16,215 · -3.5%
• By 2040: 14,830 · -11.7%
• By 2050: 13,469 · -19.8%
• By 2075: 10,583 · -37.0%
• By 2100: 7,497 · -55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 6% Italian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Yancey

• 2024 margin: Solid R (+34.4) · D 32.3% · R 66.8%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.8pp · 2024: -34.4pp
• All cycles: 2024: R+34.4 2020: R+33.7 2016: R+32.5 2012: R+13.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.39%
• Current HPI: 297.9461
• 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

• 2026-06-16 Listed $215,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.5%/yr

Latest (2025): $694 · +0.0% YoY. Source: county tax records.