220 Wildwood Dr · Salisbury, NC 28146

$157,000

2 bd · 3.0 ba · 1,131 sqft · Condo public records · 54 Days on market

Built 1983 $153/mo HOA · 10% of rent

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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
• 1% rule +4.6/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

Key facts

• Back porch
• Granite countertops
• Golf course

Tags

• EASTWOOD VILLAGE LOCATION
• GOLF COURSE
• GRANITE COUNTERTOPS
• BACK PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $157k.

Deal economics

• At list price, monthly cash flow is $-46 ($-555/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (4.1% below list).
• Recommended offer: $149k (5.2% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.3% in Salisbury — 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 64/100 on livability (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dole Elementary (math 12% / reading 17%, grade F, #1,331 of 1,410 statewide, top 96%, 414 students, 97% FRL); North Rowan Middle (math 15% / reading 24%, grade F, #433 of 475 statewide, top 91%, 440 students, 89% FRL); North Rowan High (math 2% / reading 37%, grade F, #492 of 535 statewide, top 93%, 589 students, 66% FRL) — zoned schools average 84% FRL vs 54% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 30% district-wide (-13 pts) — the specific schools serving this property underperform the Rowan-Salisbury Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 230 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 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 $5k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $148,833 (5.2% 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. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• GRM: 8.7

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-28,270
• Equity at exit: $23,409

10-year hold

• IRR: -10.4%
• Equity multiple: 0.36×
• Total profit: $-27,938
• Equity at exit: $13,574

Cash invested: $43,960 (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 28146

• Home prices YoY: -23.3%
• Active inventory: 230
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$823
• Tax from tax record: −$194 /mo · $2,333/yr
• Insurance: −$65
• HOA: −$153
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-46

Break-even live

Break-even rent $1,565

Max offer price $148,833

Occupancy floor 98%

Sensitivity live

Price	-10% $43	-5% $-2	+0% $-46	+5% $-91	+10% $-135
Rent	-10% $-165	-5% $-106	+0% $-46	+5% $13	+10% $73
Rate	-1.0pp $33	-0.5pp $-6	base $-46	+0.5pp $-87	+1.0pp $-128

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 Union Heights Blvd Unit B Salisbury, NC	3.0	2.5	1275	$1,825	$1.43	25d	1	0.61mi
808 Crown Point Dr Salisbury, NC	3.0	2.5	1500	$1,830	$1.22	25d	1	0.96mi
718 Park Ave Salisbury, NC	3.0	2.0	1199	$1,700	$1.42	19d	1	0.96mi
816 Crown Point Dr Salisbury, NC	3.0	3.0	1500	$3,500	$2.33	25d	1	0.98mi
823 E Lafayette St Unit 1 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	4d	1	1.01mi
823 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	4d	1	1.01mi
821 E Lafayette St Unit 821 Salisbury, NC	2.0	1.0	900	$1,025	$1.14	6d	1	1.02mi
821 E Lafayette St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	19d	1	1.02mi
1133 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	4d	1	1.04mi
1135 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	4d	1	1.04mi
1157 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	4d	1	1.05mi
1118 Davis St Salisbury, NC	3.0	2.5	1250	$1,500	$1.20	25d	1	1.05mi
1201 Davis St Salisbury, NC	3.0	2.5	1265	$1,500	$1.19	4d	1	1.07mi
1207 Davis St Unit 1 Salisbury, NC	3.0	2.5	1283	$1,550	$1.21	25d	1	1.09mi
1207 Davis St Unit 4 Salisbury, NC	2.0	2.5	1283	$1,550	$1.21	25d	1	1.09mi
1207 Davis St Unit 2 Salisbury, NC	3.0	2.5	1270	$1,600	$1.26	6d	1	1.09mi
1211 Tower Dr Salisbury, NC	3.0	2.5	1296	$1,495	$1.15	25d	1	1.10mi
829 Green St Salisbury, NC	3.0	2.0	1250	$1,600	$1.28	25d	1	1.19mi
1300 Old Concord Rd Salisbury, NC	2.0	1.0	800	$950	$1.19	25d	1	1.23mi
1300 Old Concord Rd Salisbury, NC	2.0	1.0	800	$1,000	$1.25	4d	1	1.23mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	3d	1	1.28mi
1225 Beard St Salisbury, NC	3.0	2.0	1138	$1,495	$1.31	25d	1	1.28mi
201 E Innes St #204 Salisbury, NC	2.0	2.0	912	$1,650	$1.81	25d	1	1.37mi
839 Carpenters Cir Salisbury, NC	3.0	2.0	1188	$1,560	$1.31	25d	1	1.39mi
1101 Kenly St Salisbury, NC	3.0	2.0	1026	$1,599	$1.56	25d	1	1.48mi

HOA detail condo

• Monthly dues: $153 · $1,836/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-04-07
   status Pending
2. 2026-03-19
   price $157,000
3. 2026-02-12
   listed $167,000 Active
4. 2023-02-02
   soldstatus $190,000 Closed 555-char remark

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

5. 2023-02-02
   soldstatus $190,000 Closed 555-char remark

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

6. 2023-02-02
   soldstatus $190,000

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

7. 2023-01-13
   status Pending 555-char remark

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

8. 2022-12-22
   historical Due Diligence Period 555-char remark

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

9. 2022-12-16
   historical Active Under Contract 555-char remark

   Show marketing remark (555 chars)

   2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

10. 2022-11-17
    price $194,900 555-char remark

    Show marketing remark (555 chars)

    2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

11. 2022-11-17
    price $194,900 555-char remark

    Show marketing remark (555 chars)

    2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

12. 2022-10-04
    listed $199,900 Active 555-char remark

    Show marketing remark (555 chars)

    2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

13. 2022-10-04
    listed $199,900 Active 555-char remark

    Show marketing remark (555 chars)

    2BR-2BA townhouse located in the highly sought after, Eastwood Village! This property allows you to live with little to no exterior maintenance while viewing the lovely Corbin Hills Golf Course! Property presents a spacious updated kitchen with granite tops and stainless steel appliances; open living room and dining concept with new flooring. Back screened porch overlooks the golf course. Master suite with full bathroom and great closet storage. Guest bedroom is generous in size and features a laundry closet. Call today to see this gem for yourself!

14. 2017-08-25
    soldstatus $80,000
15. 2007-11-30
    soldstatus $89,000
16. 2005-03-08
    soldstatus $85,500

ⓘ 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: $2,333 · $194/mo
• Projected year-2 tax: $2,333 · $194/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $18,074
• − Mortgage interest: −$8,794
• − Property taxes: −$2,333
• − Insurance: −$785
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − HOA: −$1,836
• − Depreciation: −$4,567
• Taxable loss: −$3,133
• Est. tax savings @ 24.0%: +$752
• After-tax cash flow: $197/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 31,292
• Household income: $69,279
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 299.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Italian 3% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.32%
• Current HPI: 273.7508
• Rent YoY: —
• 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

+83.6% since first listed

16 events — show timeline

• 2026-04-07 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $157,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-12 Listed $167,000 CANOPYMLS as Distributed by MLS Grid
• 2023-02-02 Sold (Public Records) $190,000 Public Records
• 2023-02-02 Sold (MLS) $190,000 Triad MLS
• 2023-02-02 Sold (MLS) $190,000 CANOPYMLS as Distributed by MLS Grid
• 2023-01-13 Pending — Triad MLS
• 2022-12-22 Contingent — Triad MLS
• 2022-12-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-11-17 Price Changed $194,900 Triad MLS
• 2022-11-17 Price Changed $194,900 CANOPYMLS as Distributed by MLS Grid
• 2022-10-04 Listed $199,900 Triad MLS
• 2022-10-04 Listed $199,900 CANOPYMLS as Distributed by MLS Grid
• 2017-08-25 Sold (Public Records) $80,000 Public Records
• 2007-11-30 Sold (Public Records) $89,000 Public Records
• 2005-03-08 Sold (Public Records) $85,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,333 · +0.0% YoY. Source: county tax records.