142 S Ervin Ave · Newton, NC 28658

$174,999

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 2 Days on market

Built 1955 6,098 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.4/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS AND FIX AND FLIP OPPORTUNITY!! This property features so much potential but needs work to be done. The property currently does not have running water or utilities so please show during the daylight. The property will need to be fully renovated. This property is in need of substantial repairs and is being SOLD AS IS. The right buyer will see the value in this property and restore it to it's greatest potential. This can be a great addition to your investment portfolio or a great opportunity for a new investor.

Key facts

• Fresh flooring
• Updated electrical
• Brand new roof

Tags

• BRAND NEW ROOF
• HVAC SYSTEM
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• FRESH FLOORING
• UPDATED BATHROOM

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site built; One story; R-7A zoning
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Lot approximately 0.14 acres; Road surface: gravel and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Ductless heating; Ductless cooling
• Interior features: Open living area (one main room listed)
• Laundry & utility: No laundry facilities listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (34.3% below list).
• Recommended offer: $115k (34.3% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 2.9% in Newton — 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 73/100 on livability (#77 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D-.
• Newton Conover City Schools (suburban): math 49% / reading 47% proficiency, ranked #74 of 178 in NC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 226 active listings in the ZIP; 1 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y ago; this cycle's ask is 12400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $55k; list at $175k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $115,000 (34.3% 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. Built in 1955 — 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 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?
5. 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?
6. 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?
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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.37%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $104,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 S Caldwell Ave	0.18mi	2/1.0	740 (-0%)	6mo	$115,000	$155	86
142 S Ervin Ave	0.00mi	2/1.0	744 (0%)	18mo	$55,000	$74	85
621 E A St	0.16mi	2/1.0	784 (+5%)	2mo	$154,000	$196	82
125 S Ervin Ave	0.05mi	2/1.0	672 (-10%)	4mo	$100,000	$149	78
216 N Brady Ave	0.50mi	2/1.0	772 (+4%)	2mo	$48,750	$63	69
135 S Ervin Ave	0.03mi	2/1.0	804 (+8%)	21mo	$113,211	$141	68
802 S Davis Ave	0.47mi	2/1.0	768 (+3%)	21mo	$155,000	$202	55
615 E Saunders Ave	0.22mi	2/1.0	850 (+14%)	15mo	$60,000	$71	54
202 N Davis Ave	0.41mi	2/1.0	800 (+8%)	20mo	$62,000	$78	51
10 N Davis Ave	0.23mi	3/1.0 (+1)	850 (+14%)	13mo	$40,000	$47	50
301 N Davis Ave	0.46mi	2/1.0	800 (+8%)	21mo	$70,000	$88	49
300 N Ervin Ave	0.46mi	2/1.0	853 (+15%)	8mo	$180,000	$211	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: -29.1%
• Equity multiple: 0.03×
• Total profit: $-47,503
• Equity at exit: $26,093

10-year hold

• IRR: -29.3%
• Equity multiple: -0.35×
• Total profit: $-65,970
• Equity at exit: $15,131

Cash invested: $49,000 (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 28658

• Home prices YoY: -23.3%
• Active inventory: 226
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-301

Break-even live

Break-even rent $1,531

Max offer price $131,461

Occupancy floor —

Sensitivity live

Price	-10% $-180	-5% $-240	+0% $-301	+5% $-361	+10% $-422
Rent	-10% $-392	-5% $-346	+0% $-301	+5% $-255	+10% $-210
Rate	-1.0pp $-213	-0.5pp $-256	base $-301	+0.5pp $-346	+1.0pp $-392

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 N Frye Ave Unit I Newton, NC	2.0	1.0	730	$1,150	$1.58	13d	1	1.41mi

Listing history 2 events

1. 2026-06-19
   remarks 459-char remark
2. 2026-06-19
   listed $174,999 Coming Soon 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,800
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$5,091
• Taxable loss: −$6,802
• Est. tax savings @ 24.0%: +$1,632
• After-tax cash flow: $-1,978/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: Newton Conover City Schools
• NCES district ID: 3703360
• Math proficiency: 49% ▲ 11.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $39,491
• Composite: 40.13/100
• National rank: #3797
• State rank: #74 of 178 in NC

Livability — Newton

• Score: 73/100
• State rank: #77
• US rank: #5536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, NC
• Population (ZIP): 25,681

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Black 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 3% Tagalog/Filipino 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: ▼ -79.85%
• Current HPI: 262.8541
• Rent YoY: —
• Metro: —
• 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

-98.4% since first listed

12 events — show timeline

• 2025-05-19 Rental Removed $1,400 TENANTCLOUD
• 2025-05-01 Listed for Rent $1,400 TENANTCLOUD
• 2025-05-01 Rental Removed $1,400 RENT.
• 2025-04-17 Listed for Rent $1,400 RENT.
• 2025-03-03 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-02-25 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2024-12-10 Sold (Public Records) $55,000 Public Records
• 2024-12-10 Sold (MLS) $55,000 CANOPYMLS as Distributed by MLS Grid
• 2024-08-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2024-07-22 Listed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2023-10-02 Price Changed $71,900 CANOPYMLS as Distributed by MLS Grid
• 2023-09-16 Listed $89,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

-17.1%/yr

Latest (2024): $60 · +0.0% YoY. Source: county tax records.