214 Sunset St NW · Lenoir, NC 28645

$109,900

3 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 47 Days on market

Built 1963 0.69 ac lot ↓ 21% since listing

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 2-bath home located in Lenoir. This inviting property features a spacious living area, modern kitchen with updated appliances, and a cozy dining space. The primary bedroom includes an ensuite bath for added convenience. Enjoy outdoor living with a large backyard and patio, appropriate for entertaining. Situated in a peaceful neighborhood with easy access to local amenities and schools. A great opportunity to make this house your new home.

Key facts

• Large backyard
• Cozy dining space
• Ensuite bath

Tags

• MODERN KITCHEN
• LARGE BACKYARD
• COZY DINING SPACE
• ENSUITE BATH
• PEACEFUL NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No HOA; Pets allowed

Exterior

• Parking: Attached carport with space for 1 vehicle; Has carport
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story (one level); Zoned R3
• Construction: Asbestos and shingle/shake exterior materials; Pillar/post/pier foundation
• Exterior features: Paved, publicly maintained road access; No waterfront

Interior

• Kitchen: Other appliances included
• Bedrooms: Three bedrooms (all on the main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Oil-fired heat; No central air
• Interior features: Fireplace in the living room; One main-level room listed
• Laundry & utility: Laundry area located inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.7% in Lenoir — 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 70/100 on livability (#139 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D, schools F.
• Caldwell County Schools (suburban): math 38% / reading 46% proficiency, ranked #106 of 178 in NC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 217 units permitted in Caldwell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Caldwell County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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. 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: 1.26% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $241,636
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1820 Cline Pl	0.56mi	3/1.5	1,141 (-9%)	3mo	$220,000	$193	55
132 Wayside Pl NE	0.60mi	3/1.0	1,226 (-2%)	18mo	$220,000	$179	53
1011 Old North Rd NW	0.59mi	3/1.0	1,322 (+6%)	13mo	$165,000	$125	52
1206 Plaza St NW	0.68mi	3/2.0	1,178 (-6%)	14mo	$225,000	$191	42
409 Scarlett Oak Ct NE	0.62mi	4/2.0 (+1)	1,350 (+8%)	9mo	$305,000	$226	42
1292 Wexford Vlg	0.52mi	2/2.0 (-1)	1,139 (-9%)	12mo	$262,500	$230	42
1265 Wexford Village Cir NE	0.60mi	3/2.0	1,425 (+14%)	10mo	$299,000	$210	37
927 Old North Rd NW	0.63mi	3/1.0	1,125 (-10%)	22mo	$209,900	$187	35
1281 Wexford Village Cir NE	0.56mi	3/2.0	1,402 (+12%)	21mo	$327,900	$234	32
430 Folk St NW	0.69mi	2/2.0 (-1)	1,065 (-15%)	15mo	$190,000	$178	21

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: 6.2%
• Equity multiple: 1.24×
• Total profit: $7,430
• Equity at exit: $16,386

10-year hold

• IRR: 15.6%
• Equity multiple: 2.26×
• Total profit: $38,922
• Equity at exit: $9,502

Cash invested: $30,772 (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 28645

• Home prices YoY: -17.4%
• Active inventory: 465
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,387 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$77 /mo · $921/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $397

Break-even live

Break-even rent $885

Max offer price $109,900

Occupancy floor 66%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1421 Piedmont Dr NW Lenoir, NC	2.0	1.0	994	$1,200	$1.21	21d	1	0.98mi
229 Wilson St NW Unit 3A 3 bedrooms 2 full bath Lenoir, NC	3.0	2.0	1150	$1,600	$1.39	13d	1	1.13mi
229 Wilson St NW Unit 2A Lenoir, NC	2.0	2.0	900	$1,350	$1.50	13d	1	1.13mi

Listing history 17 events

1. 2026-06-19
   days on market $109,900 Active 47 DOM
2. 2026-06-18
   days on market $109,900 Active 46 DOM
3. 2026-06-17
   days on market $109,900 Active 45 DOM
4. 2026-06-16
   days on market $109,900 Active 44 DOM
5. 2026-06-15
   status $109,900 Active 43 DOM
6. 2026-06-13
   statusdays on market $109,900 Pending 43 DOM
7. 2026-06-10
   days on market $109,900 Active 41 DOM
8. 2026-06-09
   days on market $109,900 Active 40 DOM
9. 2026-06-08
   days on market $109,900 Active 39 DOM
10. 2026-06-07
    days on market $109,900 Active 38 DOM
11. 2026-06-03
    days on market $109,900 Active 34 DOM
12. 2026-06-02
    days on market $109,900 Active 33 DOM
13. 2026-05-31
    days on market $109,900 Active 31 DOM
14. 2026-05-30
    days on market $109,900 Active 30 DOM
15. 2026-05-13
    price $114,900
16. 2026-05-08
    price $119,900
17. 2026-04-30
    listed $144,900 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: $921 · $77/mo
• Projected year-2 tax: $921 · $77/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,638
• − Mortgage interest: −$6,156
• − Property taxes: −$921
• − Insurance: −$550
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$3,197
• Taxable income: $3,153
• Est. tax owed @ 24.0%: −$757
• After-tax cash flow: $4,002/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: Caldwell County Schools
• NCES district ID: 3700580
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,165
• Composite: 34.9/100
• National rank: #5079
• State rank: #106 of 178 in NC

Livability — Lenoir

• Score: 70/100
• State rank: #139
• US rank: #7940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lenoir, NC
• Population (ZIP): 46,237

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 77,603 people
• By 2030: 74,714 · -3.7%
• By 2040: 67,732 · -12.7%
• By 2050: 59,938 · -22.8%
• By 2075: 43,232 · -44.3%
• By 2100: 28,894 · -62.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 8% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+52.6) · D 23.4% · R 76.0%
• 2008→2024 swing: -22.9pp toward R · 2008: -29.7pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+51.1 2016: R+50.6 2012: R+35.7 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.03%
• Current HPI: 265.0987
• 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

-20.7% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $114,900 CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $119,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Listed $144,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+15.4%/yr

Latest (2025): $921 · +136.4% YoY. Source: county tax records.