930 Church St · Salisbury, NC 28144

$70,000

2 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 2 Days on market

Built 1952 0.34 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom / 1 bathroom brick ranch in Salisbury. The home features hardwood floors, spacious living room with fireplace, a formal dining area, and kitchen open to den. Unfinished partial basement with exterior entry. Sunroom off of kitchen. Patio at basement entry. HUD case 387-142853. Sold (IE) FHA insurable w/ repair escrow, subject to buyer appraisal. Property owned by US Dept. of Housing and Urban Development. Sold AS/IS without repairs or warranties. Seller, its agents & /or assigns make no representations or warranties as to property condition. Pre-1978 properties includes Lead Based Paint Addendum. Buyer & their agent to verify all information including schools, HLA, &

Key facts

• Formal dining area
• Kitchen open to den
• Hardwood floors

Tags

• HARDWOOD FLOORS
• SPACIOUS LIVING ROOM
• FORMAL DINING AREA
• KITCHEN OPEN TO DEN
• SUNROOM OFF OF KITCHEN
• PATIO AT BASEMENT ENTRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 16.6% vs local median 3.2% in Salisbury — 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 (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities D-.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 291 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 35% of the median local income ($53k/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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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: property tax is 3.4% of price; 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 $70,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is F 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. 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.
7. 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.
8. 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: 2.16% ✓
• Cap rate: 16.63%
• Cash-on-cash: 36.91%
• DSCR: 2.64
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $269,892
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
930 Church St	0.00mi	2/1.0	1,428 (0%)	0mo	$110,000	$77	100
117 E Steele St	0.19mi	2/2.0	1,333 (-7%)	4mo	$268,000	$201	72
112 E Steele St	0.17mi	2/2.0	1,238 (-13%)	1mo	$305,000	$246	65
227 W 11th St	0.16mi	3/2.0 (+1)	1,277 (-11%)	4mo	$225,000	$176	62
806 N Craige St	0.44mi	3/2.0 (+1)	1,505 (+5%)	4mo	$270,000	$179	58
1460 N Jackson St	0.50mi	3/2.0 (+1)	1,296 (-9%)	1mo	$275,000	$212	51
431 N Caldwell St	0.55mi	3/2.0 (+1)	1,236 (-13%)	4mo	$233,500	$189	40
427 N Caldwell St	0.56mi	3/2.0 (+1)	1,236 (-13%)	4mo	$233,500	$189	39
1550 N Lee St	0.55mi	3/2.0 (+1)	1,246 (-13%)	6mo	$248,000	$199	39
423 N Caldwell St	0.57mi	3/2.0 (+1)	1,236 (-13%)	4mo	$233,500	$189	39
829 Green St	0.69mi	2/2.5	1,250 (-12%)	6mo	$125,000	$100	36
1200 Grady St	0.70mi	3/2.0 (+1)	1,243 (-13%)	2mo	$175,000	$141	35

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: 32.9%
• Equity multiple: 2.39×
• Total profit: $27,147
• Equity at exit: $10,437

10-year hold

• IRR: 39.9%
• Equity multiple: 4.75×
• Total profit: $73,454
• Equity at exit: $6,052

Cash invested: $19,600 (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 28144

• Active inventory: 291
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$367
• Tax from tax record: −$198 /mo · $2,376/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $603

Break-even live

Break-even rent $752

Max offer price $70,000

Occupancy floor 55%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 N Church St Salisbury, NC	3.0	1.0	1600	$1,549	$0.97	23d	1	0.04mi
918 N Main St Salisbury, NC	3.0	2.5	1548	$1,750	$1.13	23d	1	0.07mi
706 N Main St Salisbury, NC	3.0	2.0	1176	$1,700	$1.45	17d	1	0.25mi
119 W 15th St Unit 119 Salisbury, NC	2.0	1.5	950	$1,200	$1.26	4d	1	0.58mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	23d	1	0.62mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	2d	1	0.62mi
829 Green St Salisbury, NC	3.0	2.0	1250	$1,600	$1.28	23d	1	0.68mi
1200 Grady St Unit Labs Salisbury, NC	3.0	2.0	1242	$1,395	$1.12	4d	1	0.70mi
1101 Kenly St Salisbury, NC	3.0	2.0	1026	$1,599	$1.56	23d	1	0.76mi
821 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	17d	1	0.78mi
821 E Lafayette St Unit 821 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	4d	1	0.78mi
823 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	2d	1	0.78mi
823 E Lafayette St Unit 1 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	2d	1	0.78mi
201 E Innes St #204 Salisbury, NC	2.0	2.0	912	$1,650	$1.81	23d	1	0.81mi
718 Park Ave Salisbury, NC	3.0	2.0	1199	$1,700	$1.42	17d	1	0.83mi
321 Woodson St Salisbury, NC	1.0–3.0	1.0–2.5	1091	$1,370	$1.26	12d	13	0.87mi
406 Mahaley Ave Apt 1 Salisbury, NC	2.0	1.0	900	$1,195	$1.33	23d	1	1.05mi
304 Mahaley Ave Salisbury, NC	1.0	1.0	950	$900	$0.95	12d	1	1.16mi
202 N Merritt Ave Salisbury, NC	3.0	1.5	1591	$1,495	$0.94	20d	1	1.18mi
322 W McCubbins St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	3d	1	1.38mi

Listing history 7 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   listed $70,000 Active
3. 2021-06-08
   historical Active Under Contract
4. 2021-06-02
   historical
5. 2021-05-24
   listed $70,000 Active
6. 2020-08-19
   soldstatus $105,305
7. 2009-03-17
   soldstatus $65,000

ⓘ 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: $2,376 · $198/mo
• Projected year-2 tax: $2,376 · $198/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $18,184
• − Mortgage interest: −$3,921
• − Property taxes: −$2,376
• − Insurance: −$350
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$2,036
• Taxable income: $6,592
• Est. tax owed @ 24.0%: −$1,582
• After-tax cash flow: $5,653/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 27,977
• Household income: $52,568
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1438.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 35% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.00%
• Current HPI: 276.1097
• Rent YoY: —
• 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

+7.7% since first listed

7 events — show timeline

• 2026-04-24 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-22 Listed $70,000 CANOPYMLS as Distributed by MLS Grid
• 2021-06-08 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2021-06-02 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2021-05-24 Listed $70,000 CANOPYMLS as Distributed by MLS Grid
• 2020-08-19 Sold (Public Records) $105,305 Public Records
• 2009-03-17 Sold (Public Records) $65,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,376 · +0.0% YoY. Source: county tax records.