201 W Mccubbins St · Salisbury, NC 28144

$178,500

2 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 127 Days on market

Built 1900 4,791 sqft lot Est $229k · 22% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the Market at no fault of seller. Beautifully renovated home in the heart of Salisbury offering strong value and opportunity. This turn-key property features all-new flooring and appliances, epoxy countertops, upgraded 200-amp electrical, new siding, windows, doors, and trim. Major systems including roof have been updated. Off-street parking for up to four vehicles. Conveniently located near Catawba College, Rowan Regional Medical Center, the VA Medical Center, major distribution centers, and with easy access to I-85, shopping, dining, and entertainment. Ideal for owner-occupants or investors seeking a solid rental or long-term hold at an improved price point. Schedule your showing

Key facts

• 4,791 sq ft lot
• Built 1900
• Listed 127 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; Parking spaces
• Utilities: City water; Public sewer
• Home design: Single-family residence; Residential property; One story; Entry level: Main
• Construction: Site-built construction; Vinyl exterior; Crawl space foundation; Built as one-level
• Exterior features: Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Five total rooms; Microwave, Oven, Refrigerator
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $-19 ($-231/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (21.5% below list).
• Recommended offer: $140k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Salisbury — 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 64/100 on livability (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Koontz Elementary (math 8% / reading 17%, grade F, #1,362 of 1,410 statewide, top 97%, 515 students, 94% FRL); Knox Middle (math 12% / reading 21%, grade F, #449 of 475 statewide, top 96%, 514 students, 95% FRL); Salisbury High (math 27% / reading 47%, grade F, #414 of 535 statewide, top 79%, 959 students, 66% FRL) — zoned schools average 85% FRL vs 54% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 291 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 32% of the median local income ($53k/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 $5k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $118k; list at $178k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,122 (21.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $229,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 W Mccubbins St	0.00mi	2/1.0	1,311 (+5%)	0mo	$170,000	$130	92
513 Lincolnton Rd	0.29mi	3/2.0 (+1)	1,232 (-2%)	3mo	$220,000	$179	72
102 Crawford St	0.22mi	3/2.0 (+1)	1,304 (+4%)	4mo	$245,000	$188	71
7 Cooper St	0.32mi	3/2.0 (+1)	1,200 (-4%)	3mo	$237,000	$198	67
719 S Jackson St	0.09mi	3/2.0 (+1)	1,386 (+11%)	6mo	$276,500	$199	64
406 S Shaver St	0.55mi	3/1.5 (+1)	1,282 (+2%)	3mo	$137,050	$107	61
915 Lincolnton Rd	0.74mi	2/1.5	1,239 (-1%)	3mo	$207,000	$167	60
406 Grace St	0.62mi	3/2.0 (+1)	1,250 (-0%)	5mo	$229,000	$183	58
1013 Locke St	0.56mi	3/2.0 (+1)	1,326 (+6%)	3mo	$242,500	$183	53
9 Cooper St	0.32mi	3/2.5 (+1)	1,399 (+12%)	4mo	$260,000	$186	51
1418 Crosby St	0.62mi	2/1.5	1,125 (-10%)	2mo	$178,000	$158	51
120 Mitchell St	0.47mi	3/2.0 (+1)	1,110 (-11%)	3mo	$214,900	$194	48

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-30,198
• Equity at exit: $26,615

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-28,059
• Equity at exit: $15,433

Cash invested: $49,980 (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 28144

• Active inventory: 291
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$936
• Tax from tax record: −$116 /mo · $1,390/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-19

Break-even live

Break-even rent $1,426

Max offer price $175,094

Occupancy floor 96%

Sensitivity live

Price	-10% $82	-5% $31	+0% $-19	+5% $-70	+10% $-120
Rent	-10% $-130	-5% $-75	+0% $-19	+5% $36	+10% $91
Rate	-1.0pp $71	-0.5pp $26	base $-19	+0.5pp $-66	+1.0pp $-113

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: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 W McCubbins St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	4d	1	0.14mi
201 E Innes St #204 Salisbury, NC	2.0	2.0	912	$1,650	$1.81	25d	1	0.64mi
1039 Old Plank Rd Salisbury, NC	2.0	1.0	923	$1,290	$1.40	25d	1	0.74mi
839 Carpenters Cir Salisbury, NC	3.0	2.0	1188	$1,560	$1.31	25d	1	0.83mi
718 Park Ave Salisbury, NC	3.0	2.0	1199	$1,700	$1.42	19d	1	1.12mi
321 Woodson St Salisbury, NC	1.0–3.0	1.0–2.5	1091	$1,370	$1.26	14d	13	1.14mi
706 N Main St Salisbury, NC	3.0	2.0	1176	$1,700	$1.45	19d	1	1.15mi
100 Emerson Ln Salisbury, NC	2.0–3.0	2.0	1101	$684	$0.62	25d	1	1.30mi
821 E Lafayette St Unit 821 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	6d	1	1.34mi
821 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	19d	1	1.34mi
823 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	4d	1	1.35mi
823 E Lafayette St Unit 1 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	4d	1	1.35mi
919 N Church St Salisbury, NC	3.0	1.0	1600	$1,549	$0.97	25d	1	1.36mi
918 N Main St Salisbury, NC	3.0	2.5	1548	$1,750	$1.13	25d	1	1.37mi
210 Sunset Dr Salisbury, NC	1.0–2.0	1.0–2.0	1018	$1,475	$1.45	25d	1	1.38mi
200 Hamilton Dr Salisbury, NC	3.0	1.0–2.0	750	$1,305	$1.74	0d	15	1.38mi
202 N Merritt Ave Salisbury, NC	3.0	1.5	1591	$1,495	$0.94	21d	1	1.42mi
808 Crown Point Dr Salisbury, NC	3.0	2.5	1500	$1,830	$1.22	25d	1	1.45mi
816 Crown Point Dr Salisbury, NC	3.0	3.0	1500	$3,500	$2.33	25d	1	1.46mi
237 Century Dr Salisbury, NC	3.0	2.5	1500	$1,475	$0.98	6d	1	1.48mi
829 Green St Salisbury, NC	3.0	2.0	1250	$1,600	$1.28	25d	1	1.49mi

Listing history 19 events

1. 2026-05-02
   status Pending
2. 2026-04-09
   price $178,500
3. 2026-04-02
   status Active
4. 2026-04-02
   price $189,000
5. 2026-02-11
   status Pending
6. 2026-01-23
   price $178,000
7. 2026-01-23
   price $178,000
8. 2026-01-14
   price $179,900
9. 2026-01-14
   price $179,900
10. 2025-11-07
    listed $189,000 Active
11. 2025-11-07
    historical $189,000
12. 2025-06-09
    status Active
13. 2025-04-30
    status Active
14. 2025-03-09
    historical Active Under Contract
15. 2025-02-28
    price $190,000
16. 2025-02-28
    status Active
17. 2024-10-29
    listed $200,000 Active
18. 2024-08-02
    listed $215,000 Active
19. 2024-05-06
    soldstatus $118,500

ⓘ 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: $1,390 · $116/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$74/yr (+$6/mo · 5.3%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,815
• − Mortgage interest: −$9,999
• − Property taxes: −$1,390
• − Insurance: −$892
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$5,193
• Taxable loss: −$3,349
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $572/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 27,977
• Household income: $52,568
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1438.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 35% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.00%
• Current HPI: 276.1097
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+50.6% since first listed

19 events — show timeline

• 2026-05-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $178,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $189,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-11 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $178,000 Triad MLS
• 2026-01-23 Price Changed $178,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-14 Price Changed $179,900 Triad MLS
• 2026-01-14 Price Changed $179,900 CANOPYMLS as Distributed by MLS Grid
• 2025-11-07 Listed $189,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-07 Coming Soon $189,000 CANOPYMLS as Distributed by MLS Grid
• 2025-06-09 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-04-30 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-03-09 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-02-28 Price Changed $190,000 CANOPYMLS as Distributed by MLS Grid
• 2025-02-28 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2024-10-29 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2024-08-02 Listed $215,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-06 Sold (Public Records) $118,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,390 · +66.0% YoY. Source: county tax records.