517 N Carolina Ave · Maiden, NC 28650

$180,000

3 bd · 1.0 ba · 1,289 sqft · SingleFamily public records · 11 Days on market

Built 1940 0.29 ac lot Est $254k · 29% 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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market at no fault of the seller. As you step inside, you'll be greeted by the warmth of the all-brick construction, offering timeless appeal and durability. The interior boasts a functional layout, with ample space for living and entertaining. One of the highlights of this home is the covered rear porch, providing a serene spot to unwind and enjoy the outdoors, rain or shine. Whether you're sipping your morning coffee or hosting a barbecue with friends, this inviting space is sure to be a favorite. Don't miss your chance to make this charming all-brick abode yours!

Key facts

• Fully fenced yard
• Hardwood floors
• Updated bathroom

Tags

• ALL BRICK CONSTRUCTION
• HARDWOOD FLOORS
• COVERED REAR PORCH
• LARGE ENCLOSED UTILITY AREA
• UPDATED BATHROOM
• FULLY FENCED YARD

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached 1-car garage; Main level garage
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: City water; Public sewer
• Home design: Single family residence; One-story (main level entry)
• Construction: Site-built brick exterior; Crawl space foundation
• Exterior features: Back yard fencing; Gravel and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Heat pump; Central air conditioning
• Interior features: 8 total rooms; Gas fireplace; Electric range; Gas water heater
• Laundry & utility: Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/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 $176k (2.1% below list).
• Recommended offer: $176k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 3.1% in Maiden — 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 72/100 on livability (#84 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maiden Elementary (math 53% / reading 41%, grade D-, #497 of 1,410 statewide, top 38%, 499 students, 62% FRL); Maiden Middle School (math 52% / reading 49%, grade C, #108 of 475 statewide, top 23%, 421 students, 53% FRL); Maiden High (math 57% / reading 66%, grade B-, #199 of 535 statewide, top 37%, 870 students, 46% FRL).
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,016 units permitted in Catawba County in 2024 (255 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 $5k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $176,260 (2.1% 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. 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: 0.98% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $253,933
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 N Carolina Ave	0.00mi	3/1.0	1,283 (-0%)	21mo	$180,000	$140	82
508 N 1st Ave	0.14mi	2/1.5 (-1)	1,270 (-2%)	5mo	$230,000	$181	80
304 W Carpenter St	0.43mi	3/2.0	1,190 (-8%)	6mo	$290,000	$244	58
518 W School St	0.39mi	3/2.0	1,384 (+7%)	12mo	$249,900	$181	56
316 Union St	0.56mi	3/2.0	1,460 (+13%)	1mo	$285,500	$196	47
517 W Main St	0.42mi	3/1.5	1,144 (-11%)	19mo	$225,000	$197	44
515 W Main St	0.41mi	3/2.0	1,448 (+12%)	19mo	$315,000	$218	41
403 Forest Dr	0.66mi	3/2.0	1,100 (-15%)	5mo	$245,000	$223	37
301 N 4th Ave	0.56mi	3/2.0	1,101 (-15%)	14mo	$262,500	$238	34

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-12,672
• Equity at exit: $26,839

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $10,091
• Equity at exit: $15,563

Cash invested: $50,400 (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 28650

• Home prices YoY: -12.7%
• Active inventory: 142
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,763 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $260

Break-even live

Break-even rent $1,434

Max offer price $180,000

Occupancy floor 80%

Sensitivity live

Price	-10% $362	-5% $311	+0% $260	+5% $209	+10% $158
Rent	-10% $120	-5% $190	+0% $260	+5% $329	+10% $399
Rate	-1.0pp $350	-0.5pp $305	base $260	+0.5pp $213	+1.0pp $166

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 E Main St Unit B Maiden, NC	2.0	2.5	1250	$1,490	$1.19	0d	1	0.94mi
805 E Main St Maiden, NC	2.0	2.5	1250	$1,650	$1.32	0d	1	0.94mi

Listing history 9 events

1. 2026-06-21
   days on market $180,000 Active 11 DOM
2. 2026-06-18
   days on market $180,000 Active 8 DOM
3. 2026-06-17
   days on market $180,000 Active 7 DOM
4. 2026-06-16
   days on market $180,000 Active 6 DOM
5. 2026-06-15
   remarks 585-char remark
6. 2026-06-15
   days on market $180,000 Active 5 DOM
7. 2026-06-13
   days on market $180,000 Active 3 DOM
8. 2026-06-13
   remarks 373-char remark
9. 2026-06-13
   listed $180,000 Active 2 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: $1,366 · $114/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$110/yr (+$9/mo · 8.0%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,151
• − Mortgage interest: −$10,083
• − Property taxes: −$1,366
• − Insurance: −$900
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$5,236
• Taxable income: $182
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $3,072/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 of 178 in NC

Livability — Maiden

• Score: 72/100
• State rank: #84
• US rank: #5912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maiden, NC
• County: Catawba County · 105,763 people
• City population: 28,768
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 12,746
• Household income: $74,922
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 36.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 3% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 9% Other Asian/Pacific 1%

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: ▼ -41.44%
• Current HPI: 284.0424
• Rent YoY: —
• 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

+185.7% since first listed

14 events — show timeline

• 2026-06-10 Listed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2024-10-01 Sold (Public Records) $180,000 Public Records
• 2024-09-25 Sold (MLS) $180,000 CANOPYMLS as Distributed by MLS Grid
• 2024-08-28 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2024-08-21 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2024-08-08 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2024-07-31 Price Changed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2024-07-13 Price Changed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2024-07-03 Price Changed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2024-07-03 Price Changed $20,000 CANOPYMLS as Distributed by MLS Grid
• 2024-06-19 Listed $205,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-29 Coming Soon $205,000 CANOPYMLS as Distributed by MLS Grid
• 2024-05-29 Sold (Public Records) $175,500 Public Records
• 2016-03-11 Sold (Public Records) $63,000 Public Records

Property tax history

+6.2%/yr

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