722 E F St · Newton, NC 28658

$115,000

3 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 38 Days on market

Built 1960 0.61 ac lot Est $196k · 41% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity with serious upside in the heart of Newton! Located at 722 E F St this complete fixer upper is a blank canvas ready for your vision and creativity. Whether you are looking to renovate flip or build long term value this property offers the kind of potential that is getting harder to find. Situated on approximately 0.28 acres and being sold together with the adjoining 0.33 acre lot you get added space, flexibility and future possibilities for expansion redevelopment or even a second build. Opportunities with this much land and versatility are rare at this price point in this location. The home does need significant repairs and is being sold AS IS, the price has been set a

Key facts

• 0.33 acre lot
• 0.61 acre lot
• Built 1960

Tags

• APPROXIMATELY 0.28 ACRES
• 0.33 ACRE LOT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Other parking — front yard or street parking
• Utilities: City water; Public sewer
• Home design: Single-family residential property; Site-built construction; One story; Basement entry level; Zoned R-20; Has additional parcels
• Construction: Partial brick and block construction; Composition roof; Basement foundation; Built on site
• Exterior features: Cleared lot; Located in a flood fringe area; Sloped lot; Road surface includes dirt and paved; Publicly maintained road; Front yard or street parking available

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Tile; Wood
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 6 total rooms; Basement with interior and exterior entry; No built-in appliances listed
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.9% in Newton — 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 (#77 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Newton Conover City Schools (suburban): math 49% / reading 47% proficiency, ranked #74 of 178 in NC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Newton Elementary (math 37% / reading 32%, grade F, #835 of 1,410 statewide, top 62%, 350 students, 75% FRL); Newton-Conover High (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 758 students, 59% FRL).
• Market conditions: 224 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 $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $115k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $196,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Overlook Dr	0.11mi	2/1.0 (-1)	1,000 (-2%)	5mo	$207,000	$207	83
608 E E St	0.24mi	3/2.0	1,018 (-0%)	10mo	$195,000	$192	76
400 S Forney Ave	0.35mi	3/1.0	1,021 (-0%)	15mo	$135,000	$132	71
127 S Caldwell Ave	0.46mi	3/1.0	1,000 (-2%)	11mo	$102,000	$102	66
306 E Herman St	0.40mi	3/1.0	955 (-7%)	17mo	$107,000	$112	56
614 S Ashe Ave	0.68mi	2/1.0 (-1)	984 (-4%)	1mo	$167,500	$170	56
1242 E I St #27	0.37mi	3/2.0	1,128 (+10%)	15mo	$220,000	$195	48
215 E K St	0.46mi	3/1.5	1,148 (+12%)	13mo	$220,000	$192	45
18 S Coulter Ave	0.56mi	2/2.0 (-1)	952 (-7%)	11mo	$190,000	$200	44
415 E D St	0.39mi	2/1.0 (-1)	1,140 (+12%)	16mo	$95,000	$83	44
1051 S Brady Ave	0.54mi	2/1.5 (-1)	930 (-9%)	12mo	$205,000	$220	43
306 S Main Ave	0.69mi	3/1.0	1,130 (+11%)	16mo	$174,000	$154	37

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $9,053
• Equity at exit: $17,147

10-year hold

• IRR: 16.5%
• Equity multiple: 2.35×
• Total profit: $43,628
• Equity at exit: $9,943

Cash invested: $32,200 (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 28658

• Home prices YoY: -23.3%
• Active inventory: 224
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$104 /mo · $1,242/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $434

Break-even live

Break-even rent $1,025

Max offer price $115,000

Occupancy floor 67%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 S Caldwell Ave Newton, NC	2.0	1.5	918	$1,575	$1.72	5d	1	0.27mi

Listing history 20 events

1. 2026-06-19
   days on market $115,000 Active 38 DOM
2. 2026-06-18
   days on market $115,000 Active 37 DOM
3. 2026-06-17
   days on market $115,000 Active 36 DOM
4. 2026-06-16
   days on market $115,000 Active 35 DOM
5. 2026-06-15
   days on market $115,000 Active 34 DOM
6. 2026-06-14
   days on market $115,000 Active 32 DOM
7. 2026-06-13
   days on market $115,000 Active 31 DOM
8. 2026-06-10
   days on market $115,000 Active 29 DOM
9. 2026-06-09
   days on market $115,000 Active 28 DOM
10. 2026-06-08
    days on market $115,000 Active 27 DOM
11. 2026-06-07
    days on market $115,000 Active 26 DOM
12. 2026-06-05
    days on market $115,000 Active 23 DOM
13. 2026-06-02
    days on market $115,000 Active 21 DOM
14. 2026-06-01
    days on market $115,000 Active 20 DOM
15. 2026-05-31
    days on market $115,000 Active 19 DOM
16. 2026-05-30
    days on market $115,000 Active 18 DOM
17. 2026-05-12
    listed $115,000 Active
18. 2008-06-27
    soldstatus $65,500
19. 2008-05-19
    soldstatus $20,100
20. 2008-05-19
    soldstatus $20,500

ⓘ 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: $1,242 · $104/mo
• Projected year-2 tax: $1,242 · $104/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $18,900
• − Mortgage interest: −$6,442
• − Property taxes: −$1,242
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$3,345
• Taxable income: $3,605
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $4,345/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: Newton Conover City Schools
• NCES district ID: 3703360
• Math proficiency: 49% ▲ 11.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $39,491
• Composite: 40.13/100
• National rank: #3797
• State rank: #74 of 178 in NC

Livability — Newton

• Score: 73/100
• State rank: #77
• US rank: #5536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, NC
• Population (ZIP): 25,681

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Black 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 3% Tagalog/Filipino 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: ▼ -79.85%
• Current HPI: 262.8541
• 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

+472.1% since first listed

4 events — show timeline

• 2026-05-12 Listed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2008-06-27 Sold (Public Records) $65,500 Public Records
• 2008-05-19 Sold (Public Records) $20,500 Public Records
• 2008-05-19 Sold (Public Records) $20,100 Public Records

Property tax history

+7.6%/yr

Latest (2024): $1,242 · +0.0% YoY. Source: county tax records.