165 Lakeview Church Rd · Lexington, NC 27299

$214,900

2 bd · 1.0 ba · 1,514 sqft · SingleFamily public records · 12 Days on market

Built 1951 0.41 ac lot Est $307k · 30% 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.0/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0
• 1% rule +0.2/10.0

Listing remarks MLS

MOTIVATED TO SELL! This 3-bedroom, 2-bath home with a partial, unfinished basement is located just minutes from I-85 between Lexington and Salisbury and has incredible potential. Inside, you’ll find a spacious open-concept layout with recently-updated flooring throughout. The living room features a full brick fireplace and beams. The kitchen is generously sized with an eat-at bar, perfect for everyday living. The primary bedroom offers its own fireplace. The primary bathroom includes a dual vanity and a tub/shower combo. Two additional bedrooms are nicely sized, and the secondary bathroom features a walk-in tile shower. Outside, enjoy a double driveway with a one-car garage, plus a detached garage and carport at a separate entrance. A large additional building offers plenty of space for a workshop or storage. The property is full of potential! See Agent Only remarks. Reach out to agent for interior photos.

Key facts

• Full brick fireplace
• Dual vanity
• Walk-in tile shower

Tags

• OPEN-CONCEPT LAYOUT
• FULL BRICK FIREPLACE
• EAT-AT BAR
• PRIMARY BEDROOM FIREPLACE
• DUAL VANITY
• WALK-IN TILE SHOWER

Property features AI

Finance

• Other: Zoned RS
• HOA & community: No HOA

Exterior

• Parking: Attached garage; Detached garage; Detached carport; Two garage spaces; One carport space; Main level garage available
• Utilities: Public water; Septic system installed
• Home design: Single-family residence; Site-built construction; One level
• Construction: Vinyl exterior; Basement and crawl space foundation
• Exterior features: Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Microwave; Oven
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Five total rooms; Unfinished basement; Fireplace
• Laundry & utility: Laundry located in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-408 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (33.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (48.1% below list).
• Recommended offer: $111k (48.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#89 in NC) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: schools D, crime F, amenities D-.
• Davidson County Schools (rural): math 50% / reading 50% proficiency, ranked #62 of 178 in NC (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 990 units permitted in Davidson County in 2024 (54 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Davidson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $111,445 (48.1% 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. Built in 1951 — 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 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.52% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.13%
• DSCR: 0.64
• GRM: 16.1

CMA / ARV

• ARV (on-the-fly): $307,342
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 River Dr	0.14mi	2/1.0	1,334 (-12%)	6mo	$230,000	$172	68
233 Oakview Rd	0.52mi	3/2.0 (+1)	1,427 (-6%)	9mo	$294,000	$206	49
216 Iveys Meadow Ct	0.54mi	3/2.0 (+1)	1,470 (-3%)	22mo	$299,000	$203	42
235 Oakview Rd	0.54mi	3/2.0 (+1)	1,569 (+4%)	22mo	$282,000	$180	42
11341 S Nc Highway 150	0.75mi	2/2.0	1,390 (-8%)	8mo	$90,000	$65	41
240 Ivey Meadow Ct	0.47mi	3/2.0 (+1)	1,340 (-12%)	18mo	$295,000	$220	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.51×
• Total profit: $90,962
• Equity at exit: $193,599

10-year hold

• IRR: 17.2%
• Equity multiple: 5.79×
• Total profit: $288,087
• Equity at exit: $417,503

Cash invested: $60,172 (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 27299

• Home prices YoY: 16.5%
• Active inventory: 61
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $1,114 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $-408

Break-even live

Break-even rent $1,631

Max offer price $142,858

Occupancy floor —

Sensitivity live

Price	-10% $-286	-5% $-347	+0% $-408	+5% $-469	+10% $-529
Rent	-10% $-496	-5% $-452	+0% $-408	+5% $-364	+10% $-320
Rate	-1.0pp $-300	-0.5pp $-353	base $-408	+0.5pp $-464	+1.0pp $-520

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-10
   status $214,900 Pending 12 DOM
2. 2026-06-09
   days on market $214,900 Active 12 DOM
3. 2026-06-08
   days on market $214,900 Active 11 DOM
4. 2026-06-07
   days on market $214,900 Active 10 DOM
5. 2026-06-05
   days on market $214,900 Active 7 DOM
6. 2026-06-03
   days on market $214,900 Active 6 DOM
7. 2026-06-02
   days on market $214,900 Active 5 DOM
8. 2026-06-01
   days on market $214,900 Active 4 DOM
9. 2026-05-31
   days on market $214,900 Active 3 DOM
10. 2026-05-31
    days on market $214,900 Active 2 DOM
11. 2026-05-19
    historical Due Diligence Period 925-char remark

    Show marketing remark (925 chars)

    MOTIVATED TO SELL! This 3-bedroom, 2-bath home with a partial, unfinished basement is located just minutes from I-85 between Lexington and Salisbury and has incredible potential. Inside, you’ll find a spacious open-concept layout with recently-updated flooring throughout. The living room features a full brick fireplace and beams. The kitchen is generously sized with an eat-at bar, perfect for everyday living. The primary bedroom offers its own fireplace. The primary bathroom includes a dual vanity and a tub/shower combo. Two additional bedrooms are nicely sized, and the secondary bathroom features a walk-in tile shower. Outside, enjoy a double driveway with a one-car garage, plus a detached garage and carport at a separate entrance. A large additional building offers plenty of space for a workshop or storage. The property is full of potential! See Agent Only remarks. Reach out to agent for interior photos.

12. 2026-05-19
    historical Active Under Contract

    Show marketing remark (925 chars)

    MOTIVATED TO SELL! This 3-bedroom, 2-bath home with a partial, unfinished basement is located just minutes from I-85 between Lexington and Salisbury and has incredible potential. Inside, you’ll find a spacious open-concept layout with recently-updated flooring throughout. The living room features a full brick fireplace and beams. The kitchen is generously sized with an eat-at bar, perfect for everyday living. The primary bedroom offers its own fireplace. The primary bathroom includes a dual vanity and a tub/shower combo. Two additional bedrooms are nicely sized, and the secondary bathroom features a walk-in tile shower. Outside, enjoy a double driveway with a one-car garage, plus a detached garage and carport at a separate entrance. A large additional building offers plenty of space for a workshop or storage. The property is full of potential! See Agent Only remarks. Reach out to agent for interior photos.

13. 2026-05-05
    listed $199,000 Active 925-char remark

    Show marketing remark (925 chars)

    MOTIVATED TO SELL! This 3-bedroom, 2-bath home with a partial, unfinished basement is located just minutes from I-85 between Lexington and Salisbury and has incredible potential. Inside, you’ll find a spacious open-concept layout with recently-updated flooring throughout. The living room features a full brick fireplace and beams. The kitchen is generously sized with an eat-at bar, perfect for everyday living. The primary bedroom offers its own fireplace. The primary bathroom includes a dual vanity and a tub/shower combo. Two additional bedrooms are nicely sized, and the secondary bathroom features a walk-in tile shower. Outside, enjoy a double driveway with a one-car garage, plus a detached garage and carport at a separate entrance. A large additional building offers plenty of space for a workshop or storage. The property is full of potential! See Agent Only remarks. Reach out to agent for interior photos.

14. 2026-05-05
    listed $199,000 Active

    Show marketing remark (925 chars)

    MOTIVATED TO SELL! This 3-bedroom, 2-bath home with a partial, unfinished basement is located just minutes from I-85 between Lexington and Salisbury and has incredible potential. Inside, you’ll find a spacious open-concept layout with recently-updated flooring throughout. The living room features a full brick fireplace and beams. The kitchen is generously sized with an eat-at bar, perfect for everyday living. The primary bedroom offers its own fireplace. The primary bathroom includes a dual vanity and a tub/shower combo. Two additional bedrooms are nicely sized, and the secondary bathroom features a walk-in tile shower. Outside, enjoy a double driveway with a one-car garage, plus a detached garage and carport at a separate entrance. A large additional building offers plenty of space for a workshop or storage. The property is full of potential! See Agent Only remarks. Reach out to agent for interior photos.

15. 2026-03-19
    price $229,900
16. 2026-02-22
    price $234,900
17. 2023-02-03
    soldstatus $195,000 Closed
18. 2023-02-03
    soldstatus $195,000
19. 2022-12-20
    status Pending Accepting Backup Offers
20. 2022-12-13
    listed $197,500 Active
21. 2019-11-27
    soldstatus $93,000 Sold
22. 2019-11-27
    soldstatus $93,000
23. 2019-11-20
    status Pending
24. 2019-11-14
    historical Due Diligence Period
25. 2019-11-07
    listed $100,000 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: $861 · $72/mo
• Projected year-2 tax: $1,762 · $147/mo
• Expected delta: +$901/yr (+$75/mo · 104.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,373
• − Mortgage interest: −$12,038
• − Property taxes: −$861
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$6,252
• Taxable loss: −$8,991
• Est. tax savings @ 24.0%: +$2,158
• After-tax cash flow: $-2,736/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: Davidson County Schools
• NCES district ID: 3701140
• Math proficiency: 50% ▲ 2.00%
• Reading proficiency: 50% ▲ 2.00%
• Median HH income: $49,696
• Composite: 42.76/100
• National rank: #3157
• State rank: #62 of 178 in NC

Livability — Lexington

• Score: 72/100
• State rank: #89
• US rank: #6051

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 79,578
• Population (ZIP): 5,144

Population outlook (Davidson County) Hauer SSP2

• Today (2025): 167,156 people
• By 2030: 167,216 · +0.0%
• By 2040: 164,524 · -1.6%
• By 2050: 157,229 · -5.9%
• By 2075: 138,084 · -17.4%
• By 2100: 112,729 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 3% Russian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Davidson

• 2024 margin: Solid R (+47.1) · D 25.9% · R 73.0% · Other 1.1%
• 2008→2024 swing: -13.5pp toward R · 2008: -33.5pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+47.5 2016: R+49.4 2012: R+40.9 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.13%
• Current HPI: 311.427
• 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

+99.0% since first listed

15 events — show timeline

• 2026-05-19 Contingent — Triad MLS
• 2026-05-19 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-05-05 Listed $199,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-05 Listed $199,000 Triad MLS
• 2026-03-19 Price Changed $229,900 Triad MLS
• 2026-02-22 Price Changed $234,900 Triad MLS
• 2023-02-03 Sold (Public Records) $195,000 Public Records
• 2023-02-03 Sold (MLS) $195,000 Triad MLS
• 2022-12-20 Pending — Triad MLS
• 2022-12-13 Listed $197,500 Triad MLS
• 2019-11-27 Sold (Public Records) $93,000 Public Records
• 2019-11-27 Sold (MLS) $93,000 Triad MLS
• 2019-11-20 Pending — Triad MLS
• 2019-11-14 Contingent — Triad MLS
• 2019-11-07 Listed $100,000 Triad MLS

Property tax history

+4.5%/yr

Latest (2025): $861 · +0.0% YoY. Source: county tax records.