6237 Burnhurst Ln · Denver, NC 28037

$150,000

3 bd · 2.0 ba · 920 sqft · Manufactured public records · 28 Days on market

Built 1996 0.51 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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.8/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special situated on a flat half-acre lot with mature privacy trees. 3 bed, 2 bath with plenty of potential for renovation, rental income, or a fix-and-flip opportunity. Peaceful setting with room to expand, garden, or create your ideal outdoor space. Great opportunity for investors or buyers looking to add value! Enjoy no city taxes and low Lincoln County taxes! Half mile from HWY 16 for easy commute to Charlotte, Hickory, or Huntersville. Four miles HWY 150 for plenty of public boat access on beautiful Lake Norman! Seller has never occupied property; therefore, disclosure information is limited. Property is sold as-is in current condition. Personal property in shed included. Manuf

Key facts

• Mature privacy trees
• Flat half-acre lot
• Public boat access

Tags

• FLAT HALF-ACRE LOT
• MATURE PRIVACY TREES
• PUBLIC BOAT ACCESS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Well water; Septic system
• Home design: Manufactured doublewide single-family residence; One level; Completed development; R-T zoning
• Construction: Manufactured construction; Vinyl exterior; Crawl space foundation; Shingle roof
• Exterior features: Back yard fencing; Level lot; Private maintained, paved asphalt road; Shed(s) on the property

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Seven total rooms; Exhaust fan
• Laundry & utility: Laundry in a common area on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 2.1% in Denver — 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 66/100 on livability (#255 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D, amenities F, commute F.
• Lincoln County Schools (rural): math 57% / reading 55% proficiency, ranked #42 of 178 in NC (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.3%/yr); 373 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 697 units permitted in Lincoln County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Lincoln County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $150k implies a 131% gain — meaningful room to come down on a strong offer.

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 $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.19% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.19%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,063
• Equity at exit: $22,365

10-year hold

• IRR: 8.0%
• Equity multiple: 1.53×
• Total profit: $22,161
• Equity at exit: $12,969

Cash invested: $42,000 (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 28037

• Home prices YoY: -22.3%
• Rents YoY: -0.3%
• Active inventory: 373
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,781 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $497

Break-even live

Break-even rent $1,152

Max offer price $150,000

Occupancy floor 67%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5508 Wrenn Dr Unit 5508 Denver, NC	2.0	1.0	860	$1,500	$1.74	23d	1	1.37mi

Listing history 15 events

1. 2026-06-18
   days on market $150,000 Active 28 DOM
2. 2026-06-17
   days on market $150,000 Active 27 DOM
3. 2026-06-16
   days on market $150,000 Active 26 DOM
4. 2026-06-15
   days on market $150,000 Active 25 DOM
5. 2026-06-13
   days on market $150,000 Active 23 DOM
6. 2026-06-09
   days on market $150,000 Active 19 DOM
7. 2026-06-08
   days on market $150,000 Active 18 DOM
8. 2026-06-07
   days on market $150,000 Active 17 DOM
9. 2026-06-04
   days on market $150,000 Active 14 DOM
10. 2026-06-03
    days on market $150,000 Active 13 DOM
11. 2026-06-02
    days on market $150,000 Active 12 DOM
12. 2026-06-01
    days on market $150,000 Active 11 DOM
13. 2026-05-31
    days on market $150,000 Active 10 DOM
14. 2026-05-21
    listed $150,000 Active
15. 1997-01-24
    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: $733 · $61/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$497/yr (+$41/mo · 67.7%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,372
• − Mortgage interest: −$8,402
• − Property taxes: −$733
• − Insurance: −$750
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − Depreciation: −$4,364
• Taxable income: $3,703
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $5,073/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: Lincoln County Schools
• NCES district ID: 3702680
• Math proficiency: 57% ▲ 7.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $49,203
• Composite: 47.7/100
• National rank: #2242
• State rank: #42 of 178 in NC

Livability — Denver

• Score: 66/100
• State rank: #255
• US rank: #11212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Denver, NC
• County: Lincoln County · 69,118 people
• City population: 28,768
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 28,768
• Household income: $111,703
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 546.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 86,972 people
• By 2030: 89,467 · +2.9%
• By 2040: 93,107 · +7.1%
• By 2050: 94,304 · +8.4%
• By 2075: 95,190 · +9.4%
• By 2100: 90,096 · +3.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 4% Black 2%
• Common ancestry: Slovak 4% Romanian 3% Iranian 3%
• Foreign-born: 3% · Canada, Guatemala
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+45.7) · D 26.8% · R 72.5%
• 2008→2024 swing: -12.4pp toward R · 2008: -33.3pp · 2024: -45.7pp
• All cycles: 2024: R+45.7 2020: R+45.9 2016: R+47.7 2012: R+38.9 2008: R+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.60%
• Current HPI: 263.1328
• Rent YoY: ▼ -0.26%
• 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

+130.8% since first listed

2 events — show timeline

• 2026-05-21 Listed $150,000 CANOPYMLS as Distributed by MLS Grid
• 1997-01-24 Sold (Public Records) $65,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $733 · +0.3% YoY. Source: county tax records.