5358 Hope Rd · Hickory, NC 28168

$199,000

3 bd · 1.5 ba · 1,318 sqft · Other · 1 Days on market

Built 2024 0.58 ac lot

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 5358 Hope Rd in Vale, NC-a brand-new 2024 manufactured home offering modern comfort, abundant natural light, and a spacious, open layout. Never occupied, this home presents a rare opportunity to own a new construction residence at an exceptional value. Large windows fill the interior with sunlight, creating a bright and inviting atmosphere throughout. Priced to reflect a few remaining finishing touches, including landscaping, kickboard painting/sealing, and completion of sink plumbing, allowing buyers the opportunity to add their own finishing touches while building instant equity. Please note that appliances are not currently installed. Buyer to verify all information. Seller ma

Key facts

• 0.58 acre lot
• Built 2024

Property features AI

Finance

• Other: Not an auction listing
• HOA & community: No HOA; Pets allowed

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: Well water; Septic system
• Home design: Single-family residence; One-story (single level); Site-built property; Residential zoning R-40
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Approximately 0.58-acre lot; Roads are publicly maintained; Gravel road surface (also listed as none)

Interior

• Kitchen: No appliances included
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bath and one half bath on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Six total rooms; No built-in appliances listed
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $199k.

Deal economics

• At list price, monthly cash flow is $-58 ($-699/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (16.2% below list).
• Recommended offer: $167k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.9% in Hickory — 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 71/100 on livability (#92 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 50 active listings in the ZIP; 2,016 units permitted in Catawba County in 2024 (255 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 $6k of value loss. Plan a longer hold.
• Catawba County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,706 (16.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 9.9

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: -18.4%
• Equity multiple: 0.36×
• Total profit: $-35,932
• Equity at exit: $29,672

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-35,966
• Equity at exit: $17,206

Cash invested: $55,720 (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 28168

• Home prices YoY: -12.6%
• Active inventory: 50
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-58

Break-even live

Break-even rent $1,741

Max offer price $190,569

Occupancy floor 98%

Sensitivity live

Price	-10% $79	-5% $10	+0% $-58	+5% $-127	+10% $-196
Rent	-10% $-190	-5% $-124	+0% $-58	+5% $8	+10% $73
Rate	-1.0pp $42	-0.5pp $-8	base $-58	+0.5pp $-110	+1.0pp $-162

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $199,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,005
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,600
• − Management: −$1,600
• − Depreciation: −$5,789
• Taxable loss: −$4,112
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $288/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 of 178 in NC

Livability — Hickory

• Score: 71/100
• State rank: #92
• US rank: #6361

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 84,442
• Population (ZIP): 10,436

Population outlook (Catawba County) Hauer SSP2

• Today (2025): 156,513 people
• By 2030: 155,267 · -0.8%
• By 2040: 151,110 · -3.5%
• By 2050: 145,524 · -7.0%
• By 2075: 134,047 · -14.4%
• By 2100: 119,424 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 7% Two or more races 7% Black 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Scottish 1% Iranian 1%
• Foreign-born: 6% · Canada, Guatemala
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Catawba

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+37.0 2016: R+38.0 2012: R+29.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.82%
• Current HPI: 289.1565
• 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

1 event — show timeline

• 2026-06-18 Listed $199,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $38 · +0.0% YoY. Source: county tax records.