151 Monte Vista Rd · Statesville, NC 28625

$258,500

3 bd · 2.0 ba · 1,482 sqft · SingleFamily public records · 103 Days on market

Built 1997 0.45 ac lot Est $296k · 13% under ↓ 2% since listing

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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).

• Cash flow +13.9/30.0
• ARV discount +13.3/15.0
• Schools +4.5/10.0
• DSCR +4.2/10.0
• Rent growth +3.2/5.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming ranch home featuring one level floor plan, open living and dining areas. The inviting living room offers a cozy fireplace, perfect for relaxing and entertaining. Recently remodeled kitchen boasts new appliances, providing a fresh, modern feel. Covered porch and large garage add room for a 'work area". A wonderful opportunity for first-time homeowners or downsizing seniors seeking comfort, functionality, and value. This property needs some work but has great potential - Needs some paint, carpet and wooden floor refinished.

Key facts

• Covered porch
• New appliances
• One level floor plan

Tags

• ONE LEVEL FLOOR PLAN
• OPEN LIVING AND DINING AREAS
• COZY FIREPLACE
• RECENTLY REMODELED KITCHEN
• NEW APPLIANCES
• COVERED PORCH

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Development status: Completed; Zoning: R-10; Lot approximately 0.45 acres (dimensions 100x200), elevation ~1000
• HOA & community: No HOA dues

Exterior

• Parking: Attached 1-car garage; Driveway with 2 open parking spaces; Has garage and open parking
• Utilities: County water; Septic system installed
• Home design: Single family residence; Site built; 1 story with F.R.O.G. (finished room over garage)
• Construction: Aluminum and block construction; Composition roof; Crawl space foundation
• Exterior features: Front porch; Patio; Outbuilding; Steep slope lot; Concrete / paved public road access

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop / electric range / oven; Microwave; Refrigerator; Plumbed for ice maker
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans; Gas for cooling system listed
• Interior features: 6 total rooms; Ceiling fan(s); Gas log fireplace with insert
• Laundry & utility: In-unit laundry; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $258k.

Deal economics

• At list price, monthly cash flow is $26 ($318/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (22.0% below list).
• Recommended offer: $202k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.7% in Statesville — 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 59/100 on livability (#557 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: N B Mills Elementary (math 17% / reading 22%, grade F, #1,242 of 1,410 statewide, top 90%, 411 students, 98% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); Statesville High (math 17% / reading 27%, grade F, #484 of 535 statewide, top 91%, 879 students, 77% FRL) — zoned schools average 61% FRL vs 38% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.7%/yr); 289 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 38% of the median local income ($64k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,597 (22.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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. 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: 0.78% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $296,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Bass Ln	0.09mi	3/2.0	1,540 (+4%)	16mo	$335,000	$218	76
136 Monte Vista Rd	0.07mi	2/2.0 (-1)	1,457 (-2%)	16mo	$291,000	$200	76
242 Bradley Farm Rd	0.37mi	3/2.0	1,586 (+7%)	0mo	$364,900	$230	71
301 Monticello Rd	0.23mi	3/2.0	1,503 (+1%)	22mo	$296,000	$197	69
177 Monticello Rd	0.42mi	3/2.0	1,586 (+7%)	2mo	$360,000	$227	67
116 Miller Farm Rd	0.34mi	3/2.5	1,439 (-3%)	13mo	$275,000	$191	67
342 Monticello Rd	0.39mi	3/2.0	1,562 (+5%)	14mo	$319,000	$204	61
155 Timberbrook Ln	0.23mi	3/2.5	1,683 (+14%)	17mo	$263,000	$156	51
126 Flatrock Ln	0.67mi	3/2.0	1,386 (-6%)	17mo	$245,000	$177	44
129 Sara Ln	0.63mi	3/2.0	1,688 (+14%)	8mo	$335,000	$198	41

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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-40,874
• Equity at exit: $38,543

10-year hold

• IRR: -8.1%
• Equity multiple: 0.50×
• Total profit: $-36,159
• Equity at exit: $22,350

Cash invested: $72,380 (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 28625

• Home prices YoY: -22.3%
• Rents YoY: 2.7%
• Active inventory: 289
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,016 medium
• Mortgage (P&I): −$1,356
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $26

Break-even live

Break-even rent $1,982

Max offer price $258,500

Occupancy floor 94%

Sensitivity live

Price	-10% $173	-5% $100	+0% $26	+5% $-47	+10% $-120
Rent	-10% $-133	-5% $-53	+0% $26	+5% $106	+10% $186
Rate	-1.0pp $157	-0.5pp $92	base $26	+0.5pp $-41	+1.0pp $-109

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: $64,625
• Closing costs: $7,755
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 Old Wilkesboro Rd Statesville, NC	1.0–2.0	1.0–2.0	900	$1,043	$1.16	14d	1	0.87mi
1378 Melviney St Statesville, NC	4.0	3.0	1723	$2,150	$1.25	25d	1	1.46mi

Listing history 17 events

1. 2026-06-21
   days on market $258,500 Active 103 DOM
2. 2026-06-18
   days on market $258,500 Active 100 DOM
3. 2026-06-17
   days on market $258,500 Active 99 DOM
4. 2026-06-16
   days on market $258,500 Active 98 DOM
5. 2026-06-15
   days on market $258,500 Active 97 DOM
6. 2026-06-13
   days on market $258,500 Active 95 DOM
7. 2026-06-13
   days on market $258,500 Active 94 DOM
8. 2026-06-09
   days on market $258,500 Active 91 DOM
9. 2026-06-08
   days on market $258,500 Active 90 DOM
10. 2026-06-07
    days on market $258,500 Active 89 DOM
11. 2026-06-04
    days on market $258,500 Active 86 DOM
12. 2026-06-03
    days on market $258,500 Active 85 DOM
13. 2026-06-02
    days on market $258,500 Active 84 DOM
14. 2026-06-01
    days on market $258,500 Active 83 DOM
15. 2026-05-31
    days on market $258,500 Active 82 DOM
16. 2026-04-01
    price $268,500
17. 2026-03-09
    listed $275,000 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: $1,234 · $103/mo
• Projected year-2 tax: $2,120 · $177/mo
• Expected delta: +$886/yr (+$74/mo · 71.8%)

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $24,192
• − Mortgage interest: −$14,480
• − Property taxes: −$1,234
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − Depreciation: −$7,520
• Taxable loss: −$4,206
• Est. tax savings @ 24.0%: +$1,009
• After-tax cash flow: $1,327/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Statesville

• Score: 59/100
• State rank: #557
• US rank: #20505

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 78,393
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 39,574
• Household income: $64,060
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 905.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 11% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Asian/Pacific 2%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.88%
• Current HPI: 237.0011
• Rent YoY: ▲ 2.72%
• 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

-2.4% since first listed

2 events — show timeline

• 2026-04-01 Price Changed $268,500 CANOPYMLS as Distributed by MLS Grid
• 2026-03-09 Listed $275,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $1,234 · +0.0% YoY. Source: county tax records.