155 Parkertown Rd · Troutman, NC 28115

$225,000

3 bd · 1.5 ba · 1,719 sqft · SingleFamily public records · 59 Days on market

Built 1952 0.29 ac lot Est $308k · 27% under ↓ 18% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.6/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 155 Parkertown Road. This charming 3-bedroom, 1 and 1/2 bath Brick Ranch home offers over 1700 sf of living space. .. .. a large Family Room, a spacious attached Sunroom plus a Detached Garage with extra storage make multiple car parking easy. Recently replaced for peace of mind. .. .Well Pump, Septic Tank, Windows, Hot Water Heater and Roof! Whether you are a first-time home buyer, investor or someone ready to make a house your own, this property is bursting with potential! Great location and convenient to I 77 and both Mooresville and Troutman. NO HOA. Parkertown Elementary School is being built on Parkertown RD. Buyer and Buyer's agent to verify all information. Property

Key facts

• Septic tank
• Well pump
• Hot water heater

Tags

• ATTACHED SUNROOM
• DETACHED GARAGE
• WELL PUMP
• SEPTIC TANK
• HOT WATER HEATER
• LOCATION CONVENIENT TO I 77

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport; Detached 1-car garage; Covered parking (carport); Driveway parking with 4 open spaces; Garage faces front
• Security: Security system
• Utilities: Well water; Septic system installed; Electricity connected
• Home design: Single-family residence; Site-built; One level; Two or more access exits
• Construction: Partial brick and vinyl exterior; Composition roof; Crawl space and slab foundation
• Exterior features: Front porch; Deck; Cleared, level lot; Publicly maintained roads; Road surfaces include asphalt, concrete, dirt, and paved

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Parquet; Hardwood; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (oil); Central air; Ceiling fans
• Interior features: Insulated windows; Ceiling fans in multiple rooms; Living room fireplace; 11 total rooms
• Laundry & utility: Washer and dryer; Laundry area located in the carport

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/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 $217k (3.6% below list).
• Recommended offer: $217k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.2% in Troutman — 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 (#342 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities F, commute F, health & safety 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: Shepherd Elementary (math 59% / reading 55%, grade C+, #249 of 1,410 statewide, top 20%, 711 students, 45% FRL); South Iredell High (math 47% / reading 72%, grade C+, #216 of 535 statewide, top 43%, 1,711 students, 34% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 488 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 59 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1952 — 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 $216,853 (3.6% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $307,701
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
188 Crystal Bay Dr	0.41mi	3/2.0	1,836 (+7%)	1mo	$271,300	$148	66
166 Crystal Bay Dr	0.42mi	3/2.0	1,836 (+7%)	10mo	$275,000	$150	59
125 Equestrian Dr	0.65mi	3/2.5	1,561 (-9%)	1mo	$343,000	$220	50
126 Tradewinds Ct	0.68mi	3/2.0	1,568 (-9%)	6mo	$293,000	$187	46
105 Horsestable Ct	0.58mi	3/2.5	1,584 (-8%)	13mo	$363,500	$229	45
125 Brasington Ln	0.56mi	3/2.0	1,904 (+11%)	11mo	$278,000	$146	45
135 Tradewinds Ct	0.61mi	3/2.0	1,512 (-12%)	6mo	$270,000	$179	44
148 Crystal Bay Dr	0.49mi	3/2.0	1,566 (-9%)	22mo	$335,000	$214	42
115 Tradewinds Ct	0.64mi	3/2.5	1,509 (-12%)	13mo	$242,500	$161	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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-15,518
• Equity at exit: $33,548

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $4,919
• Equity at exit: $19,454

Cash invested: $63,000 (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 28115

• Rents YoY: 1.6%
• Active inventory: 488
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $378

Break-even live

Break-even rent $1,690

Max offer price $225,000

Occupancy floor 78%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
154 Stella Ln Troutman, NC	3.0	2.5	1572	$2,000	$1.27	16d	1	1.37mi
154 Almaden St Troutman, NC	3.0–4.0	2.5	1803	$1,865	$1.03	1d	1	1.42mi
159 Bird Dog Dr Mooresville, NC	3.0	2.5	1749	$2,045	$1.17	16d	1	1.44mi
126 Johns Cardinal Dr Mooresville, NC	4.0	2.5	1934	$2,195	$1.13	10d	1	1.45mi

Listing history 17 events

1. 2026-06-15
   status $225,000 Pending 59 DOM
2. 2026-06-15
   days on market $225,000 Active Under Contract 59 DOM
3. 2026-06-13
   days on market $225,000 Active Under Contract 57 DOM
4. 2026-06-13
   days on market $225,000 Active Under Contract 56 DOM
5. 2026-06-09
   days on market $225,000 Active Under Contract 53 DOM
6. 2026-06-08
   days on market $225,000 Active Under Contract 52 DOM
7. 2026-06-07
   days on market $225,000 Active Under Contract 51 DOM
8. 2026-06-04
   days on market $225,000 Active Under Contract 48 DOM
9. 2026-06-03
   days on market $225,000 Active Under Contract 47 DOM
10. 2026-06-02
    days on market $225,000 Active Under Contract 46 DOM
11. 2026-06-01
    days on market $225,000 Active Under Contract 45 DOM
12. 2026-05-31
    days on market $225,000 Active Under Contract 44 DOM
13. 2026-05-23
    historical Active Under Contract
14. 2026-04-17
    listed $225,000 Active
15. 2025-10-20
    price $250,000
16. 2025-09-22
    price $265,000
17. 2025-08-29
    listed $275,000 Active

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $1,845 · $154/mo
• Expected delta: +$1,112/yr (+$93/mo · 151.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,022
• − Mortgage interest: −$12,603
• − Property taxes: −$733
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$6,545
• Taxable income: $852
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $4,336/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 — Troutman

• Score: 64/100
• State rank: #342
• US rank: #13725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 11,875
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 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: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• 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

-18.2% since first listed

5 events — show timeline

• 2026-05-23 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Listed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-20 Price Changed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-22 Price Changed $265,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-29 Listed $275,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $733 · +0.0% YoY. Source: county tax records.