140 Silvermere Dr · Catawba, NC 28625

$94,000

3 bd · 2.0 ba · 1,550 sqft · Manufactured public records · 1 Days on market

Built 2020 0.78 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice, level building lot in quiet cul-de-sac of country subdivision in West Iredell School district. Clear lot, easy grading, plenty of room for septic and well. Excellent lot for a new mfg home or modular. Call agent for more info, plats ,ect.

Key facts

• 0.78 acre lot
• Built 2020

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $94k.

Deal economics

• At list price, monthly cash flow is $849 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Cap rate 17.1% vs local median 3.9% in Catawba — 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 61/100 on livability (#494 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B; Watch: crime F, amenities F, commute F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sharon Elementary (math 62% / reading 62%, grade B, #179 of 1,410 statewide, top 14%, 237 students, 61% FRL); West Iredell High (math 32% / reading 42%, grade F, #414 of 535 statewide, top 79%, 844 students, 61% FRL) — zoned schools average 61% FRL vs 38% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.7%/yr); 287 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 36% of the median local income ($64k/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 $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $17k; list at $94k implies a 453% gain — meaningful room to come down on a strong offer.

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 $94,000

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. 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?
3. 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.
4. 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.
5. 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: 2.03% ✓
• Cap rate: 17.13%
• Cash-on-cash: 38.72%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.72% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.46×
• Total profit: $38,350
• Equity at exit: $14,016

10-year hold

• IRR: 41.3%
• Equity multiple: 4.84×
• Total profit: $100,988
• Equity at exit: $8,127

Cash invested: $26,320 (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 28625

• Home prices YoY: -22.3%
• Rents YoY: 2.7%
• Active inventory: 287
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,909 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$127 /mo · $1,521/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $849

Break-even live

Break-even rent $834

Max offer price $94,000

Occupancy floor 51%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Taylor Made Dr Statesville, NC	4.0	2.0	1855	$2,150	$1.16	1d	1	1.23mi

Listing history 14 events

1. 2026-04-23
   status Pending
2. 2026-04-23
   status Active
3. 2025-11-16
   status Pending
4. 2025-11-14
   listed $94,000 Active
5. 2025-08-09
   status Pending
6. 2025-08-09
   status Active
7. 2025-05-20
   status Pending
8. 2025-05-20
   listed $94,700 Active
9. 2020-05-06
   soldstatus $17,000
10. 2020-05-05
    soldstatus $17,000 Closed 260-char remark

    Show marketing remark (260 chars)

    Very nice, level building lot in quiet cul-de-sac of country subdivision in West Iredell School district. Clear lot, easy grading, plenty of room for septic and well. Excellent lot for a new mfg home or modular. Call agent for more info, plats ,ect.

11. 2020-01-22
    historical Under Contract - Show 260-char remark

    Show marketing remark (260 chars)

    Very nice, level building lot in quiet cul-de-sac of country subdivision in West Iredell School district. Clear lot, easy grading, plenty of room for septic and well. Excellent lot for a new mfg home or modular. Call agent for more info, plats ,ect.

12. 2019-11-13
    listed $19,900 Active 260-char remark

    Show marketing remark (260 chars)

    Very nice, level building lot in quiet cul-de-sac of country subdivision in West Iredell School district. Clear lot, easy grading, plenty of room for septic and well. Excellent lot for a new mfg home or modular. Call agent for more info, plats ,ect.

13. 2007-08-03
    soldstatus $121,000
14. 1999-12-01
    soldstatus $17,000

ⓘ 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: $1,521 · $127/mo
• Projected year-2 tax: $1,521 · $127/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $22,907
• − Mortgage interest: −$5,265
• − Property taxes: −$1,521
• − Insurance: −$470
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$2,735
• Taxable income: $9,251
• Est. tax owed @ 24.0%: −$2,220
• After-tax cash flow: $7,970/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Catawba

• Score: 61/100
• State rank: #494
• US rank: #18075

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 39,574
• Household income: $64,060
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 905.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 11% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Asian/Pacific 2%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.88%
• Current HPI: 237.0011
• Rent YoY: ▲ 2.72%
• 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

+452.9% since first listed

14 events — show timeline

• 2026-04-23 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-11-16 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-11-14 Listed $94,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-09 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-08-09 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-05-20 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-05-20 Listed $94,700 CANOPYMLS as Distributed by MLS Grid
• 2020-05-06 Sold (Public Records) $17,000 Public Records
• 2020-05-05 Sold (MLS) $17,000 CANOPYMLS as Distributed by MLS Grid
• 2020-01-22 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2019-11-13 Listed $19,900 CANOPYMLS as Distributed by MLS Grid
• 2007-08-03 Sold (Public Records) $121,000 Public Records
• 1999-12-01 Sold (Public Records) $17,000 Public Records

Property tax history

+45.0%/yr

Latest (2025): $1,521 · +0.0% YoY. Source: county tax records.