5992 Rest Home Rd · Conover, NC 28610

$200,000

3 bd · 2.0 ba · 1,372 sqft · Manufactured public records · 4 Days on market

Built 1994 1.02 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 +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Coming Soon! Nestled on a private, tree-lined 1.02-acre lot, this home offers the perfect blend of peaceful country living and everyday convenience. A welcoming covered front porch leads into the living room featuring hardwood flooring, which flows into the family room complete with a propane gas fireplace. The kitchen offers abundant oak cabinetry and comes equipped with an electric range, refrigerator, and microwave. Split-bedroom floor plan,   primary bedroom with hardwood flooring and a full bath and two additional secondary bedrooms. A convenient laundry area just off the kitchen includes the washer and dryer and provides access to the backyard deck—an ideal spot to relax an

Key facts

• Covered front porch
• Laundry area
• Backyard deck

Tags

• PRIVATE TREE LINED LOT
• COVERED FRONT PORCH
• PROPANE GAS FIREPLACE
• ABUNDANT OAK CABINETRY
• LAUNDRY AREA
• BACKYARD DECK

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; Covered parking for 1 (carport with 1 space)
• Utilities: Well water; Septic system; Cable available
• Home design: Manufactured doublewide single-family residence; One level; Crawl space foundation
• Construction: Vinyl construction; Manufactured construction type
• Exterior features: Deck; Front porch; Private, wooded lot; Asphalt/paved road; publicly maintained

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Forced air; Heat pump; Central air
• Interior features: Walk-in closet(s); Fireplace in family room; 8 total rooms
• Laundry & utility: Washer and dryer included; Laundry room inside on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-9 ($-112/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (25.0% below list).
• Recommended offer: $150k (25.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.4% in Conover — 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 68/100 on livability (#206 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: 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.
• Zoned schools: Oxford Elementary (math 42% / reading 36%, grade F, #746 of 1,410 statewide, top 53%, 588 students, 69% FRL); Bunker Hill High (math 52% / reading 61%, grade C, #261 of 535 statewide, top 49%, 828 students, 56% FRL) — zoned schools average 63% FRL vs 43% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; list at $200k implies a 67% gain — meaningful room to come down on a strong offer.

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 $150,000 (25.0% 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. 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?
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: 0.75% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 11.1

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-33,096
• Equity at exit: $29,821

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-29,963
• Equity at exit: $17,292

Cash invested: $56,000 (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 28610

• Home prices YoY: -8.1%
• Active inventory: 54
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$62 /mo · $746/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-9

Break-even live

Break-even rent $1,512

Max offer price $198,350

Occupancy floor 96%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5327 N Carolina 16 Unit 5327 Claremont, NC	2.0	1.0	964	$1,500	$1.56	13d	1	1.49mi

Listing history 5 events

1. 2026-06-18
   days on market $200,000 Coming Soon 4 DOM
2. 2026-06-17
   days on market $200,000 Coming Soon 3 DOM
3. 2026-06-16
   days on market $200,000 Coming Soon 2 DOM
4. 2026-06-15
   remarks 688-char remark
5. 2026-06-15
   listed $200,000 Coming Soon 1 DOM

ⓘ 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: $746 · $62/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$894/yr (+$74/mo · 119.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $18,000
• − Mortgage interest: −$11,203
• − Property taxes: −$746
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$5,818
• Taxable loss: −$3,648
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $763/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 — Conover

• Score: 68/100
• State rank: #206
• US rank: #10020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,486
• Population (ZIP): 10,920

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 (77%)
• Race & ethnicity: White 77% Black 8% Hispanic / Latino 6% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Italian 4% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 5% Spanish 2% Russian/Polish/Slavic 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: ▼ -24.49%
• Current HPI: 276.485
• 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

+66.7% since first listed

2 events — show timeline

• 2026-06-14 Coming Soon $200,000 CANOPYMLS as Distributed by MLS Grid
• 2019-05-10 Sold (Public Records) $120,000 Public Records

Property tax history

+6.9%/yr

Latest (2024): $746 · +0.0% YoY. Source: county tax records.