274 Cardinal Rd · Murphy, NC 28906

$126,000

2 bd · 2.0 ba · 988 sqft · SingleFamily public records · 9 Days on market

Built 1987 0.88 ac lot ↓ 16% since listing

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Why this score? — see what drove the C+ 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your ideas and make this mountain property your own! This 2 bedroom, 2 bath home is conveniently located just minutes from town and offers plenty of potential for investors, contractors, or buyers looking for a fixer-upper project. Featuring a full basement, and a 2-car garage in the basement, there's plenty of room for storage, workshop space, or future improvements. Ample parking adds even more convenience for vehicles, trailers, or equipment. With good bones, a great location, and endless possibilities, this property is ready for someone to give it new life.

Key facts

• Ample parking
• Great location
• Full basement

Tags

• FULL BASEMENT
• AMPLE PARKING
• GREAT LOCATION

Property features AI

Finance

• Financial info: Annual tax amount available separately

Exterior

• Parking: Attached 2-car garage; Total of 2 parking spaces; Gravel parking surface
• Utilities: Utilities: Other
• Home design: Single-family residence; One level / single-story; Entry level: 1
• Construction: Slab foundation; Construction materials: See remarks; Roof: See remarks; Built details not specified
• Exterior features: Front porch; No fencing; Property has a view; Lot approximately 0.88 acres; Deed-restricted zoning

Interior

• Bedrooms: Total of 4 rooms (bedroom count not explicitly provided)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating (type listed as Other); Has cooling (type listed as Other)
• Interior features: Unspecified interior features (referenced as 'Other')

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $126k).
• Cap rate 9.3% vs local median 2.6% in Murphy — 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 66/100 on livability (#292 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, amenities F, commute F.
• Cherokee County Schools (rural): math 42% / reading 47% proficiency, ranked #90 of 178 in NC (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Murphy Elementary (math 52% / reading 47%, grade D, #417 of 1,410 statewide, top 32%, 536 students, 99% FRL); Murphy Middle (math 42% / reading 48%, grade D, #160 of 475 statewide, top 35%, 316 students, 64% FRL); Murphy High (math 42% / reading 57%, grade D, #311 of 535 statewide, top 60%, 489 students, 55% FRL) — zoned schools average 73% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1119 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $871 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cherokee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.71%
• DSCR: 1.48
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $320,112
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Lakeside View Trl	0.56mi	2/2.0	960 (-3%)	8mo	$274,000	$285	62
164 Shadow Ln	0.69mi	2/2.0	1,056 (+7%)	3mo	$345,000	$327	54
164 Shadow Ln	0.72mi	2/2.0	1,056 (+7%)	3mo	$345,000	$327	53
236 Dream Maker Ln	0.52mi	2/1.0	1,008 (+2%)	20mo	$300,000	$298	52
55 Lakeside View Trl	0.65mi	2/2.0	864 (-13%)	11mo	$309,000	$358	39
55 Lakeside View Trl	0.65mi	2/2.0	864 (-13%)	13mo	$279,900	$324	38
118 Willow St	0.72mi	2/1.0	900 (-9%)	23mo	$229,000	$254	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-385
• Equity at exit: $18,787

10-year hold

• IRR: 9.4%
• Equity multiple: 1.72×
• Total profit: $25,382
• Equity at exit: $10,894

Cash invested: $35,280 (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 28906

• Home prices YoY: -18.3%
• Active inventory: 1119
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$661
• Tax from tax record: −$78 /mo · $933/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $315

Break-even live

Break-even rent $1,001

Max offer price $126,000

Occupancy floor 72%

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: $31,500
• Closing costs: $3,780
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Wade Decker Rd Murphy, NC	3.0	1.5	1100	$1,400	$1.27	2d	1	0.67mi

Listing history 8 events

1. 2026-06-18
   days on market $126,000 Active 9 DOM
2. 2026-06-17
   days on market $126,000 Active 8 DOM
3. 2026-06-16
   days on market $126,000 Active 7 DOM
4. 2026-06-15
   days on market $126,000 Active 6 DOM
5. 2026-06-13
   days on market $126,000 Active 4 DOM
6. 2026-06-12
   days on market $126,000 Active 3 DOM
7. 2026-06-09
   remarks 573-char remark

   Show marketing remark (573 chars)

   Bring your ideas and make this mountain property your own! This 2 bedroom, 2 bath home is conveniently located just minutes from town and offers plenty of potential for investors, contractors, or buyers looking for a fixer-upper project. Featuring a full basement, and a 2-car garage in the basement, there's plenty of room for storage, workshop space, or future improvements. Ample parking adds even more convenience for vehicles, trailers, or equipment. With good bones, a great location, and endless possibilities, this property is ready for someone to give it new life.

8. 2026-06-09
   listed $126,000 Active 1 DOM

   Show marketing remark (573 chars)

   Bring your ideas and make this mountain property your own! This 2 bedroom, 2 bath home is conveniently located just minutes from town and offers plenty of potential for investors, contractors, or buyers looking for a fixer-upper project. Featuring a full basement, and a 2-car garage in the basement, there's plenty of room for storage, workshop space, or future improvements. Ample parking adds even more convenience for vehicles, trailers, or equipment. With good bones, a great location, and endless possibilities, this property is ready for someone to give it new life.

ⓘ 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: $933 · $78/mo
• Projected year-2 tax: $1,033 · $86/mo
• Expected delta: +$100/yr (+$8/mo · 10.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,800
• − Mortgage interest: −$7,058
• − Property taxes: −$933
• − Insurance: −$630
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,665
• Taxable income: $1,825
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $3,342/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: Cherokee County Schools
• NCES district ID: 3700780
• Math proficiency: 42% ▲ 1.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $36,424
• Composite: 36.91/100
• National rank: #4542
• State rank: #90 of 178 in NC

Livability — Murphy

• Score: 66/100
• State rank: #292
• US rank: #12327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,712

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 25,672 people
• By 2030: 24,504 · -4.5%
• By 2040: 21,955 · -14.5%
• By 2050: 19,592 · -23.7%
• By 2075: 15,128 · -41.1%
• By 2100: 11,203 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Slovak 4% Serbian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+57.5) · D 20.8% · R 78.2% · Other 1.0%
• 2008→2024 swing: -18.9pp toward R · 2008: -38.6pp · 2024: -57.5pp
• All cycles: 2024: R+57.5 2020: R+55.1 2016: R+57.0 2012: R+46.2 2008: R+38.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 211.1795
• 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

-16.0% since first listed

8 events — show timeline

• 2026-06-09 Listed $126,000 Hive MLS
• 2026-06-09 Listed $126,000 NEGBOR
• 2013-07-01 Sold (Public Records) $120,000 Public Records
• 2013-07-01 Sold (MLS) $120,000 MLBOR
• 2013-07-01 Sold (MLS) $120,000 NEGBOR
• 2013-01-08 Listed $124,800 MLBOR
• 2013-01-08 Listed $124,800 NEGBOR
• 2006-02-17 Sold (Public Records) $150,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $933 · +0.0% YoY. Source: county tax records.