119 Sunset Dr · Taylorsville, NC 28681

$89,000

3 bd · 1.0 ba · 684 sqft · SingleFamily public records · 83 Days on market

Built 1947 0.55 ac lot Est $169k · 47% under ↓ 35% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

Key facts

• 0.55 acre lot
• Built 1947
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 4.0% in Taylorsville — 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 69/100 on livability (#159 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools C-, amenities F, commute F.
• Alexander County Schools (rural): math 52% / reading 55% proficiency, ranked #52 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 135 active listings in the ZIP; 113 units permitted in Alexander County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Alexander County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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.
• Current owner paid $75k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.55% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.95%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $168,948
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Gravel Hill Ct	0.39mi	2/1.0 (-1)	628 (-8%)	24mo	$155,000	$247	44

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: 20.8%
• Equity multiple: 1.85×
• Total profit: $21,197
• Equity at exit: $13,270

10-year hold

• IRR: 29.0%
• Equity multiple: 3.58×
• Total profit: $64,240
• Equity at exit: $7,695

Cash invested: $24,920 (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 28681

• Home prices YoY: -11.9%
• Active inventory: 135
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$28 /mo · $337/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $560

Break-even live

Break-even rent $673

Max offer price $89,000

Occupancy floor 54%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-22
   status Active
2. 2026-05-12
   soldstatus $75,000 Closed 317-char remark

   Show marketing remark (317 chars)

   Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

3. 2026-05-11
   soldstatus $75,000
4. 2026-04-21
   status Pending
5. 2026-03-11
   historical Active Under Contract
6. 2026-03-10
   historical Active Under Contract 317-char remark

   Show marketing remark (317 chars)

   Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

7. 2026-03-04
   price $79,000

   Show marketing remark (317 chars)

   Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

8. 2026-03-04
   price $79,000 317-char remark

   Show marketing remark (317 chars)

   Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

9. 2026-01-28
   listed $89,000 Active
10. 2026-01-02
    status Active

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

11. 2026-01-02
    status Active 317-char remark

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

12. 2025-11-21
    price $89,000

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

13. 2025-11-21
    price $89,000 317-char remark

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

14. 2025-10-30
    listed $115,000 Active 317-char remark

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

15. 2025-10-30
    listed $115,000 Active

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

16. 2025-10-30
    historical

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

17. 2025-10-30
    historical $115,000 317-char remark

    Show marketing remark (317 chars)

    Check out this great lot within minutes of Downtown Taylorsville. This investment opportunity, sitting on top of half an acre, has endless potential! Now is your opportunity to restore this home exactly the way you'd like or start from scratch. The home has been vacant for many years and is ready for its new owners.

ⓘ 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: $337 · $28/mo
• Projected year-2 tax: $730 · $61/mo
• Expected delta: +$393/yr (+$33/mo · 116.4%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,582
• − Mortgage interest: −$4,985
• − Property taxes: −$337
• − Insurance: −$445
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$2,589
• Taxable income: $5,572
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $5,379/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: Alexander County Schools
• NCES district ID: 3700090
• Math proficiency: 52% ▲ 5.00%
• Reading proficiency: 55% ▲ 7.00%
• Median HH income: $41,189
• Composite: 44.84/100
• National rank: #2732
• State rank: #52 of 178 in NC

Livability — Taylorsville

• Score: 69/100
• State rank: #159
• US rank: #8794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 26,117

Population outlook (Alexander County) Hauer SSP2

• Today (2025): 36,916 people
• By 2030: 36,085 · -2.3%
• By 2040: 33,528 · -9.2%
• By 2050: 30,229 · -18.1%
• By 2075: 23,159 · -37.3%
• By 2100: 15,981 · -56.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Hispanic / Latino 5% Two or more races 3% Native American 1%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Alexander

• 2024 margin: Solid R (+59.9) · D 19.7% · R 79.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -38.4pp · 2024: -59.9pp
• All cycles: 2024: R+59.9 2020: R+58.0 2016: R+55.9 2012: R+44.6 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.79%
• Current HPI: 227.497
• 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

-34.8% since first listed

17 events — show timeline

• 2026-05-22 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-12 Sold (MLS) $75,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-11 Sold (Public Records) $75,000 Public Records
• 2026-04-21 Pending — Triad MLS
• 2026-03-11 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $79,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $79,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-28 Listed $89,000 Triad MLS
• 2026-01-02 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-01-02 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-11-21 Price Changed $89,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-21 Price Changed $89,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-30 Listed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-30 Listed $115,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-30 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2025-10-30 Coming Soon $115,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2025): $337 · -7.1% YoY. Source: county tax records.