1110 Wall St · Statesville, NC 28677

$140,000

2 bd · 1.0 ba · 712 sqft · SingleFamily public records · 317 Days on market

Built 1946 0.40 ac lot Est $174k · 20% under ↓ 7% since listing

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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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• 1% rule +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

Key facts

• Extra lot
• 0.4 acre lot
• Built 1946

Tags

• EXTRA LOT
• PRIME STATESVILLE LOCATION

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Septic system installed
• Home design: Single-family residential home; Site-built construction; One story; Entry level: main
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Level lot; Front porch; Roads: dirt, gravel, and paved; publicly maintained

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heat pump; Central air; Ceiling fans
• Interior features: Seven total rooms; Front porch
• Laundry & utility: Washer and dryer located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $73 ($878/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 $113k (19.2% below list).
• Recommended offer: $113k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% in Statesville — 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 59/100 on livability (#557 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, 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: Third Creek Elementary (math 28% / reading 25%, grade F, #1,073 of 1,410 statewide, top 77%, 549 students, 89% FRL); Statesville High (math 17% / reading 27%, grade F, #484 of 535 statewide, top 91%, 879 students, 77% FRL) — zoned schools average 83% FRL vs 38% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 52% district-wide (-28 pts) — the specific schools serving this property underperform the Iredell-Statesville Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 471 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,108 (19.2% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $174,440
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 York Ave	0.30mi	2/1.0	726 (+2%)	16mo	$185,000	$255	70
602 York Ave	0.31mi	2/1.0	726 (+2%)	15mo	$178,000	$245	69
1011 Hull St	0.10mi	2/1.0	816 (+15%)	4mo	$150,000	$184	68
1011 Rickert St	0.73mi	2/1.0	680 (-4%)	10mo	$159,900	$235	50

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.46×
• Total profit: $-21,201
• Equity at exit: $20,874

10-year hold

• IRR: -11.9%
• Equity multiple: 0.37×
• Total profit: $-24,789
• Equity at exit: $12,105

Cash invested: $39,200 (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 28677

• Rents YoY: 0.2%
• Active inventory: 471
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $73

Break-even live

Break-even rent $1,039

Max offer price $140,000

Occupancy floor 89%

Sensitivity live

Price	-10% $152	-5% $113	+0% $73	+5% $34	+10% $-6
Rent	-10% $-16	-5% $28	+0% $73	+5% $118	+10% $162
Rate	-1.0pp $144	-0.5pp $109	base $73	+0.5pp $37	+1.0pp $0

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 Foxcroft Ln Statesville, NC	1.0–3.0	1.0–2.0	886	$1,198	$1.35	3d	18	0.89mi
616 Wood St Unit W616 Statesville, NC	1.0	1.0	650	$850	$1.31	21d	1	1.45mi
616 Wood St Statesville, NC	1.0	1.0	650	$850	$1.31	18d	1	1.45mi

Listing history 32 events

1. 2026-06-18
   days on market $140,000 Active 317 DOM
2. 2026-06-17
   days on market $140,000 Active 316 DOM
3. 2026-06-16
   days on market $140,000 Active 315 DOM
4. 2026-06-15
   days on market $140,000 Active 314 DOM
5. 2026-06-13
   days on market $140,000 Active 312 DOM
6. 2026-06-13
   days on market $140,000 Active 311 DOM
7. 2026-06-09
   days on market $140,000 Active 308 DOM
8. 2026-06-08
   days on market $140,000 Active 307 DOM
9. 2026-06-07
   days on market $140,000 Active 306 DOM
10. 2026-06-04
    days on market $140,000 Active 303 DOM
11. 2026-06-03
    days on market $140,000 Active 302 DOM
12. 2026-06-02
    days on market $140,000 Active 301 DOM
13. 2026-06-01
    days on market $140,000 Active 300 DOM
14. 2026-05-31
    days on market $140,000 Active 299 DOM
15. 2026-04-16
    price $140,000
16. 2025-10-06
    price $150,000
17. 2025-10-06
    status Active
18. 2025-07-30
    listed $165,000 Active
19. 2023-10-13
    soldstatus $120,000 Closed 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

20. 2023-10-13
    soldstatus $120,000

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

21. 2023-10-04
    status Pending 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

22. 2023-09-26
    status Active 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

23. 2023-09-18
    price $124,900 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

24. 2023-09-05
    historical Active Under Contract 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

25. 2023-09-01
    listed $124,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Motivated seller offering $3,000 in seller assist! Great opportunity for First Time Home Buyers or Investors. Welcome home with No HOA & Move-In Ready Bungalow with lots of updates including fresh exterior & new interior paint with vinyl flooring throughout. Bathroom has updated toilet, vanity and a decorative black and white wall covering. Kitchen offers a new sink and electric SmartThings SS/black oven/stove combo with Wi-Fi capability & the refrigerator conveys! New stackable, space saving washer & dryer included! Side door-reinforced landing with steps. Ample parking for cars, trucks, large recreational vehicles & watercrafts; the seller parks a truck, work van & camper. The .19 wooded adjacent lot is also included. Significant location next to I-77, Hwy 70, Hwy 21 and minutes to I-40. Just a couple of miles to all downtown Statesville has to offer including shopping, food, entertainment & more. Septic tank was pumped in 2022. Selling home as is. Priced to sell and won't last long.

26. 2022-07-26
    soldstatus $62,500 Closed 91-char remark

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

27. 2022-07-26
    soldstatus $63,000

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

28. 2022-06-30
    historical Active Under Contract 91-char remark

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

29. 2022-05-20
    price $95,000 91-char remark

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

30. 2022-05-09
    listed $100,000 Active 91-char remark

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

31. 2022-05-07
    historical $100,000 91-char remark

    Show marketing remark (91 chars)

    Nice two-bedroom, one bath with a bonus room. HVAC three years old. Repairing septic field.

32. 2018-11-27
    soldstatus $150,000

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$813/yr (+$68/mo · 242.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,573
• − Mortgage interest: −$7,842
• − Property taxes: −$335
• − Insurance: −$700
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$4,073
• Taxable loss: −$1,549
• Est. tax savings @ 24.0%: +$372
• After-tax cash flow: $1,249/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 — Statesville

• Score: 59/100
• State rank: #557
• US rank: #20505

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 78,393
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 38,819
• Household income: $62,406
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 1174.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 21% Hispanic / Latino 14% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 3% Slovak 2% Scandinavian 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Arabic 1% Other Indo-European 1%

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: ▼ -298.76%
• Current HPI: 243.0445
• Rent YoY: ▲ 0.20%
• 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

-6.7% since first listed

18 events — show timeline

• 2026-04-16 Price Changed $140,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-07-30 Listed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2023-10-13 Sold (Public Records) $120,000 Public Records
• 2023-10-13 Sold (MLS) $120,000 CANOPYMLS as Distributed by MLS Grid
• 2023-10-04 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-09-26 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-09-18 Price Changed $124,900 CANOPYMLS as Distributed by MLS Grid
• 2023-09-05 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-09-01 Listed $124,000 CANOPYMLS as Distributed by MLS Grid
• 2022-07-26 Sold (Public Records) $63,000 Public Records
• 2022-07-26 Sold (MLS) $62,500 CANOPYMLS as Distributed by MLS Grid
• 2022-06-30 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-05-20 Price Changed $95,000 CANOPYMLS as Distributed by MLS Grid
• 2022-05-09 Listed $100,000 CANOPYMLS as Distributed by MLS Grid
• 2022-05-07 Coming Soon $100,000 CANOPYMLS as Distributed by MLS Grid
• 2018-11-27 Sold (Public Records) $150,000 Public Records

Property tax history

+7.7%/yr

Latest (2023): $335 · +102.7% YoY. Source: county tax records.