26 Cold Spring Rd · Burnsville, NC 28714

$90,000

3 bd · 3.5 ba · 3,306 sqft · SingleFamily public records · 29 Days on market

Built 1954 ↓ 51% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, contractors, and buyers with vision! This unique creek side mountain property presents an exceptional opportunity to restore and transform an existing home into a beautiful and distinctive residence. The home is currently being offered under land value, but with the right renovations, the property has significant potential. The home is not located in a flood plain and sustained no damage from Hurricane Helene. Please note that the property currently does not have a bridge providing access to the house across the creek, and construction of a bridge will be required. Estimated renovation costs, including bridge construction, are approximately $150,000 & acirc; &

Key facts

• Built 1954
• Listed 29 days

Tags

• CREEK SIDE MOUNTAIN PROPERTY
• NOT LOCATED IN A FLOOD PLAIN
• SCENIC CREEK SIDE SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.4% vs local median 2.3% in Burnsville — 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 74/100 on livability (#64 in NC, #4,938 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, commute F, employment F.
• Yancey County Schools (rural): math 55% / reading 52% proficiency, ranked #56 of 178 in NC (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 310 active listings in the ZIP; 100 units permitted in Yancey County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Yancey County population projected at -20% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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.
• Current owner paid $60k; list at $90k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.24% ✓
• Cap rate: 19.44%
• Cash-on-cash: 46.95%
• DSCR: 3.09
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.3%
• Equity multiple: 2.77×
• Total profit: $44,729
• Equity at exit: $13,419

10-year hold

• IRR: 47.5%
• Equity multiple: 5.58×
• Total profit: $115,483
• Equity at exit: $7,782

Cash invested: $25,200 (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 28714

• Home prices YoY: -9.3%
• Active inventory: 310
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,020 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$38
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $930

Break-even live

Break-even rent $843

Max offer price $90,000

Occupancy floor 49%

Sensitivity live

Price	-10% $981	-5% $956	+0% $930	+5% $905	+10% $879
Rent	-10% $771	-5% $851	+0% $930	+5% $1,010	+10% $1,090
Rate	-1.0pp $976	-0.5pp $953	base $930	+0.5pp $907	+1.0pp $883

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $90,000 Active 29 DOM
2. 2026-06-17
   days on market $90,000 Active 28 DOM
3. 2026-06-16
   days on market $90,000 Active 27 DOM
4. 2026-06-15
   days on market $90,000 Active 26 DOM
5. 2026-06-14
   days on market $90,000 Active 24 DOM
6. 2026-06-13
   days on market $90,000 Active 23 DOM
7. 2026-06-10
   days on market $90,000 Active 21 DOM
8. 2026-06-09
   days on market $90,000 Active 20 DOM
9. 2026-06-08
   days on market $90,000 Active 19 DOM
10. 2026-06-07
    days on market $90,000 Active 18 DOM
11. 2026-06-03
    days on market $90,000 Active 14 DOM
12. 2026-06-02
    days on market $90,000 Active 13 DOM
13. 2026-06-01
    days on market $90,000 Active 12 DOM
14. 2026-05-31
    days on market $90,000 Active 11 DOM
15. 2026-05-30
    days on market $90,000 Active 10 DOM
16. 2026-05-21
    listed $90,000 Active
17. 2025-11-01
    status Active
18. 2025-10-24
    status Pending
19. 2025-10-24
    historical
20. 2025-10-09
    price $150,000
21. 2025-10-09
    price $190,000
22. 2025-09-26
    price $179,000
23. 2025-09-18
    listed $199,000 Active
24. 2024-06-17
    price $193,000
25. 2024-05-13
    price $250,000
26. 2020-03-17
    soldstatus $60,000 Closed
27. 2020-03-17
    soldstatus $60,000
28. 2020-02-26
    historical Under Contract - Show
29. 2020-01-18
    status Active
30. 2020-01-17
    historical
31. 2019-11-10
    listed $89,000 Active
32. 2013-08-21
    soldstatus
33. 2013-08-09
    historical
34. 2013-04-09
    listed $54,900
35. 2006-11-13
    soldstatus $185,000

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $1,209 · $101/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 10/10 Extreme FEMA zone X (unshaded) · 100% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 11 d/yr ≥82°F today · 30 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,245
• − Mortgage interest: −$5,041
• − Property taxes: −$1,209
• − Insurance: −$1,116
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$2,618
• Taxable income: $10,381
• Est. tax owed @ 24.0%: −$2,491
• After-tax cash flow: $8,673/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: Yancey County Schools
• NCES district ID: 3705070
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 52% ▲ 5.00%
• Median HH income: $37,576
• Composite: 44.52/100
• National rank: #2795
• State rank: #56 of 178 in NC

Livability — Burnsville

• Score: 74/100
• State rank: #64
• US rank: #4938

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,621

Population outlook (Yancey County) Hauer SSP2

• Today (2025): 16,797 people
• By 2030: 16,215 · -3.5%
• By 2040: 14,830 · -11.7%
• By 2050: 13,469 · -19.8%
• By 2075: 10,583 · -37.0%
• By 2100: 7,497 · -55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 6% Italian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Yancey

• 2024 margin: Solid R (+34.4) · D 32.3% · R 66.8%
• 2008→2024 swing: -28.7pp toward R · 2008: -5.8pp · 2024: -34.4pp
• All cycles: 2024: R+34.4 2020: R+33.7 2016: R+32.5 2012: R+13.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.39%
• Current HPI: 297.9461
• 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

-51.4% since first listed

20 events — show timeline

• 2026-05-21 Listed $90,000 FSBO.com
• 2025-11-01 Relisted — Hive MLS
• 2025-10-24 Pending — Hive MLS
• 2025-10-24 Listing Removed — Hive MLS
• 2025-10-09 Price Changed $150,000 Hive MLS
• 2025-10-09 Price Changed $190,000 Hive MLS
• 2025-09-26 Price Changed $179,000 Hive MLS
• 2025-09-18 Listed $199,000 Hive MLS
• 2024-06-17 Price Changed $193,000 Triad MLS
• 2024-05-13 Price Changed $250,000 Triad MLS
• 2020-03-17 Sold (Public Records) $60,000 Public Records
• 2020-03-17 Sold (MLS) $60,000 CANOPYMLS as Distributed by MLS Grid
• 2020-02-26 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2020-01-18 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2020-01-17 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2019-11-10 Listed $89,000 CANOPYMLS as Distributed by MLS Grid
• 2013-08-21 Sold (MLS) — HARMLS
• 2013-08-09 Listing Removed — HARMLS
• 2013-04-09 Listed $54,900 HARMLS
• 2006-11-13 Sold (Public Records) $185,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,209 · +0.0% YoY. Source: county tax records.