127 Knight N Gail Dr · Mooresville, NC 28115

$268,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 138 Days on market

Built 1999 0.47 ac lot Est $230k · 17% over

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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 +20.7/30.0
• DSCR +6.6/10.0
• Schools +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful Starter Home or Investment Property in Excellent Condition! Huge Master W/Bath & Closet, Open Living Room & Large Kitchen, Split Bedroom Plan, Large Yard & Deck for Entertaining.

Key facts

• Recently updated
• Kitchen w island
• Graded school system

Tags

• GRADED SCHOOL SYSTEM
• RECENTLY UPDATED
• LAMINATE WOOD FLOORING
• KITCHEN W ISLAND
• SEPARATE LAUNDRY ROOM
• LAUNDRY SINK

Property features AI

Finance

• Other: Manufactured homes allowed (per restrictions)
• HOA & community: No HOA dues; Pets allowed

Exterior

• Parking: Driveway
• Utilities: Community well; Septic system installed; Cable available and connected; Electricity connected
• Home design: Manufactured doublewide single-family residence; Completed development; One story; Second living quarters on the main level; RA zoning
• Construction: Manufactured construction; Vinyl and wood exterior; Composition roof; Crawl space foundation; Built as a manufactured home
• Exterior features: Deck; Shed(s); Cleared and wooded lot; Publicly maintained paved roads (asphalt, concrete, paved)

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range; Refrigerator; Kitchen island
• Bedrooms: Three bedrooms on the main level
• Flooring: Laminate; Linoleum; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Insulated and storm windows; Insulated door(s); Kitchen island; Storage; Room count: 3
• Laundry & utility: Main-level laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/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 $247k (7.9% below list).
• Recommended offer: $236k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.9% in Mooresville — 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 73/100 on livability (#66 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: 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: Coddle Creek Elementary (math 71% / reading 68%, grade A-, #95 of 1,410 statewide, top 7%, 696 students, 27% FRL); Lake Norman High (math 78% / reading 71%, grade B+, #92 of 535 statewide, top 18%, 1,986 students, 16% FRL) — zoned schools average 22% FRL vs 38% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 52% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Iredell-Statesville Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 488 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 34% of the median local income ($88k/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 138 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $268k implies a 215% 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 $235,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $229,824
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 Mill Pond Ln	0.43mi	4/2.0 (+1)	1,456 (-4%)	1mo	$194,500	$134	68
131 Smyrna Ln	0.74mi	3/2.0	1,510 (-0%)	13mo	$230,000	$152	54
160 Bluffton Rd	0.71mi	3/2.0	1,676 (+11%)	16mo	$395,000	$236	36

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-24,059
• Equity at exit: $39,960

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-5,745
• Equity at exit: $23,172

Cash invested: $75,040 (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 28115

• Rents YoY: 1.6%
• Active inventory: 488
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,469 medium
• Mortgage (P&I): −$1,405
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $361

Break-even live

Break-even rent $2,012

Max offer price $268,000

Occupancy floor 80%

Sensitivity live

Price	-10% $512	-5% $437	+0% $361	+5% $285	+10% $209
Rent	-10% $166	-5% $263	+0% $361	+5% $458	+10% $556
Rate	-1.0pp $496	-0.5pp $429	base $361	+0.5pp $291	+1.0pp $221

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11111 Mill Spring Ln Concord, NC	1.0–2.0	1.0–2.0	912	$2,000	$2.19	2d	124	0.40mi
136 Madelia Pl Mooresville, NC	4.0	2.5	2053	$2,295	$1.12	2d	1	0.85mi
19020 Potts Park Ln Davidson, NC	1.0–3.0	1.0–2.0	1102	$3,674	$3.33	2d	57	1.09mi

Listing history 26 events

1. 2026-06-18
   days on market $268,000 Active 138 DOM
2. 2026-06-17
   days on market $268,000 Active 137 DOM
3. 2026-06-16
   days on market $268,000 Active 136 DOM
4. 2026-06-15
   days on market $268,000 Active 135 DOM
5. 2026-06-13
   days on market $268,000 Active 133 DOM
6. 2026-06-13
   days on market $268,000 Active 132 DOM
7. 2026-06-09
   days on market $268,000 Active 129 DOM
8. 2026-06-08
   days on market $268,000 Active 128 DOM
9. 2026-06-07
   days on market $268,000 Active 127 DOM
10. 2026-06-04
    days on market $268,000 Active 124 DOM
11. 2026-06-03
    days on market $268,000 Active 123 DOM
12. 2026-06-02
    days on market $268,000 Active 122 DOM
13. 2026-06-01
    days on market $268,000 Active 121 DOM
14. 2026-05-31
    days on market $268,000 Active 120 DOM
15. 2026-05-08
    price $268,000
16. 2026-04-30
    status Active
17. 2026-03-28
    price $278,000
18. 2026-01-30
    listed $288,000 Active
19. 2015-07-02
    soldstatus $85,000 Closed 200-char remark

    Show marketing remark (200 chars)

    Wonderful Starter Home or Investment Property in Excellent Condition! Huge Master W/Bath & Closet, Open Living Room & Large Kitchen, Split Bedroom Plan, Large Yard & Deck for Entertaining.

20. 2015-07-02
    soldstatus $85,000

    Show marketing remark (200 chars)

    Wonderful Starter Home or Investment Property in Excellent Condition! Huge Master W/Bath & Closet, Open Living Room & Large Kitchen, Split Bedroom Plan, Large Yard & Deck for Entertaining.

21. 2015-04-27
    historical Under Contract - Show 200-char remark

    Show marketing remark (200 chars)

    Wonderful Starter Home or Investment Property in Excellent Condition! Huge Master W/Bath & Closet, Open Living Room & Large Kitchen, Split Bedroom Plan, Large Yard & Deck for Entertaining.

22. 2015-03-02
    listed $85,000 Active 200-char remark

    Show marketing remark (200 chars)

    Wonderful Starter Home or Investment Property in Excellent Condition! Huge Master W/Bath & Closet, Open Living Room & Large Kitchen, Split Bedroom Plan, Large Yard & Deck for Entertaining.

23. 2014-06-05
    price $85,000
24. 2014-05-02
    price $90,000
25. 2004-05-21
    soldstatus $99,000
26. 1999-02-01
    soldstatus $111,000

ⓘ 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: $869 · $72/mo
• Projected year-2 tax: $2,198 · $183/mo
• Expected delta: +$1,328/yr (+$111/mo · 152.8%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,623
• − Mortgage interest: −$15,012
• − Property taxes: −$869
• − Insurance: −$1,340
• − Repairs & maintenance: −$2,370
• − Management: −$2,370
• − Depreciation: −$7,796
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $4,360/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 — Mooresville

• Score: 73/100
• State rank: #66
• US rank: #5026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 92,370
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 1%

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: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• 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

+141.4% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $268,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-28 Price Changed $278,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-30 Listed $288,000 CANOPYMLS as Distributed by MLS Grid
• 2015-07-02 Sold (Public Records) $85,000 Public Records
• 2015-07-02 Sold (MLS) $85,000 CANOPYMLS as Distributed by MLS Grid
• 2015-04-27 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-03-02 Listed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2014-06-05 Price Changed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2014-05-02 Price Changed $90,000 CANOPYMLS as Distributed by MLS Grid
• 2004-05-21 Sold (Public Records) $99,000 Public Records
• 1999-02-01 Sold (Public Records) $111,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $869 · +0.0% YoY. Source: county tax records.