1345 Old Salisbury Rd · Statesville, NC 28625

$260,000

4 bd · 2.0 ba · 1,389 sqft · SingleFamily public records · 303 Days on market

Built 1965 8,712 sqft lot Est $279k · 7% under

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Why this score? — see what drove the D 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 +13.3/30.0
• ARV discount +10.6/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Rent growth +3.2/5.0
• 1% rule +3.1/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

Key facts

• 8,712 sq ft lot
• Built 1965
• Listed 302 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Residential property; One level
• Construction: Site-built construction; Vinyl exterior; Crawl space foundation; Built on one level
• Exterior features: Storage; Level lot; Concrete road frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Disposal; Electric range / oven; Microwave; Refrigerator
• Bedrooms: 4 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Ceiling fan(s)
• Interior features: Open floorplan; Ten total rooms
• Laundry & utility: Laundry in kitchen; Laundry closet

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-2 ($-24/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (19.3% below list).
• Recommended offer: $210k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: East Iredell Elementary (math 43% / reading 37%, grade F, #688 of 1,410 statewide, top 49%, 682 students, 75% FRL); Statesville High (math 17% / reading 27%, grade F, #484 of 535 statewide, top 91%, 879 students, 77% FRL) — zoned schools average 76% FRL vs 38% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 52% district-wide (-22 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 rising (+2.7%/yr); 287 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 39% 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 $2k of loan paydown is wiped out by about $8k 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 303 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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

• 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 $209,748 (19.3% 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. It's been on market 303 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 6.28%
• Cash-on-cash: -0.03%
• DSCR: 1.00
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $279,189
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1327 Old Salisbury Rd	0.15mi	3/2.0 (-1)	1,195 (-14%)	13mo	$239,900	$201	54
1331 Old Salisbury Rd	0.14mi	3/2.0 (-1)	1,195 (-14%)	16mo	$239,900	$201	52
757 Glover St	0.52mi	3/2.0 (-1)	1,322 (-5%)	20mo	$239,000	$181	46

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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-42,900
• Equity at exit: $38,767

10-year hold

• IRR: -9.0%
• Equity multiple: 0.45×
• Total profit: $-40,139
• Equity at exit: $22,480

Cash invested: $72,800 (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: 10.3×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-2

Break-even live

Break-even rent $2,100

Max offer price $259,649

Occupancy floor 95%

Sensitivity live

Price	-10% $145	-5% $72	+0% $-2	+5% $-76	+10% $-149
Rent	-10% $-168	-5% $-85	+0% $-2	+5% $81	+10% $164
Rate	-1.0pp $129	-0.5pp $64	base $-2	+0.5pp $-69	+1.0pp $-138

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1725 E Cloaninger Ave Unit A Statesville, NC	3.0	2.5	1510	$1,695	$1.12	5d	1	0.49mi
409 Lakeridge Dr Statesville, NC	3.0	2.0	1416	$1,895	$1.34	13d	1	0.88mi
1010 Foxcroft Ln Statesville, NC	1.0–3.0	1.0–2.0	886	$1,357	$1.53	2d	18	0.90mi
375 Brookfield Dr Statesville, NC	3.0	2.0	1162	$1,550	$1.33	5d	1	0.94mi
804 Jost St Unit 70 Statesville, NC	3.0	2.5	1446	$1,923	$1.33	24d	1	1.02mi
548 Greenway Dr Statesville, NC	3.0	2.0	1474	$1,850	$1.26	13d	1	1.37mi
548 Greenway Dr Statesville, NC	3.0	2.0	1474	$1,850	$1.26	11d	1	1.37mi
138 Signal Hill Dr Statesville, NC	3.0	1.0–2.5	900	$1,675	$1.86	24d	1	1.49mi

Listing history 12 events

1. 2025-08-01
   listed $260,000 Active
2. 2025-07-10
   historical $260,000
3. 2022-12-13
   soldstatus $230,000 Closed 851-char remark

   Show marketing remark (851 chars)

   Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

4. 2022-12-13
   soldstatus $230,000

   Show marketing remark (851 chars)

   Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

5. 2022-11-14
   historical
6. 2022-11-10
   historical Active Under Contract 851-char remark

   Show marketing remark (851 chars)

   Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

7. 2022-11-08
   price $225,000 851-char remark

   Show marketing remark (851 chars)

   Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

8. 2022-10-20
   listed $235,000 Active 851-char remark

   Show marketing remark (851 chars)

   Freshly renovated one level home with Hardi plank siding, New roof and gutters, Stainless steel appliances, Tons of modern farmhouse charm has been incorporated into this now 4 bedroom 2 bath home. Large covered front porch with back deck allows you to enjoy the outdoors rain or shine. Beautiful tile installed in bathrooms and kitchen, Barn door to laundry, open shelving , large kitchen sink and quartz counter tops, making this a home you will love to entertain in. Storage Shed and Blink security system will stay with home. Newer water heater, all new luxury vinyl plank flooring, and much more. 1 year home warranty is being offered with acceptable offer. With quick commute to interstate, Downtown Statesville, twin oaks golf course, shopping and dining. Four Bedroom homes are hard to find at this price.... Dont Miss it. BRING ALL OFFERS!

9. 2022-10-04
   price $290,000
10. 2022-09-24
    listed $315,000 Active
11. 2022-09-23
    historical
12. 2022-03-31
    soldstatus $70,000

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $25,170
• − Mortgage interest: −$14,564
• − Property taxes: −$2,246
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$7,564
• Taxable loss: −$4,531
• Est. tax savings @ 24.0%: +$1,088
• After-tax cash flow: $1,064/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

• Census place: Statesville, NC
• County: Iredell County · 182,638 people
• City population: 78,393
• 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

+271.4% since first listed

12 events — show timeline

• 2025-08-01 Listed $260,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-10 Coming Soon $260,000 CANOPYMLS as Distributed by MLS Grid
• 2022-12-13 Sold (Public Records) $230,000 Public Records
• 2022-12-13 Sold (MLS) $230,000 CANOPYMLS as Distributed by MLS Grid
• 2022-11-14 Rental Removed — RENT.
• 2022-11-10 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-11-08 Price Changed $225,000 CANOPYMLS as Distributed by MLS Grid
• 2022-10-20 Listed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2022-10-04 Price Changed $290,000 CANOPYMLS as Distributed by MLS Grid
• 2022-09-24 Listed $315,000 CANOPYMLS as Distributed by MLS Grid
• 2022-09-23 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2022-03-31 Sold (Public Records) $70,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $2,246 · +0.0% YoY. Source: county tax records.