1517 E NC 10 Hwy · Newton, NC 28658

$160,000

2 bd · 1.0 ba · 1,529 sqft · SingleFamily public records · 48 Days on market

Built 1930 2.02 ac lot Est $249k · 36% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your next home. This 2-bedroom, 1-bath house has a comfortable layout, tall ceilings, and gives you the chance to add your own style and updates over time. Screened porch for entertaining or enjoying that morning cup of coffee. Sitting on just over 2 acres, there’s plenty of space to enjoy the outdoors, spread out, or put it to use however you’d like. The mature trees out front provide great shade and give the property a warm, established feel. The unfinished basement has an exterior entrance only and offers additional space for storage or a workshop. If you’ve been looking for a place with land and the opportunity to make it your own, this one is worth a look.

Key facts

• Tall ceilings
• Unfinished basement
• Exterior entrance

Tags

• TALL CEILINGS
• MATURE TREES
• UNFINISHED BASEMENT
• EXTERIOR ENTRANCE
• ADDITIONAL SPACE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Septic installed
• Home design: Single-family residence; Site-built construction; One level; R-20 zoning
• Construction: Aluminum siding; Shingle roof; Foundation: basement and crawl space; Built on site
• Exterior features: 2.02-acre lot; Roads are dirt and paved; Publicly maintained road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 6 total rooms; Basement (unfinished); Fireplace
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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+, schools D-.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 224 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $28k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.00% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.33%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $249,227
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1231 E I St	0.44mi	3/2.5 (+1)	1,525 (-0%)	5mo	$309,000	$203	64
1522 Cannan Mountain Dr	0.25mi	3/2.5 (+1)	1,685 (+10%)	3mo	$263,000	$156	58
1478 Cannan Mountain Dr	0.32mi	3/2.5 (+1)	1,624 (+6%)	9mo	$265,000	$163	56
780 Saint James Church Rd	0.72mi	3/2.0 (+1)	1,545 (+1%)	1mo	$270,000	$175	55
1542 Cannan Mountain Dr	0.23mi	3/2.5 (+1)	1,650 (+8%)	14mo	$265,000	$161	54
1245 Briarcreek Dr	0.41mi	3/2.0 (+1)	1,469 (-4%)	21mo	$310,000	$211	48
706 D St E	0.57mi	2/1.0	1,591 (+4%)	23mo	$174,600	$110	47
133 S Caldwell Ave	0.66mi	3/2.0 (+1)	1,397 (-9%)	3mo	$190,000	$136	43

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-10,893
• Equity at exit: $23,857

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $9,817
• Equity at exit: $13,834

Cash invested: $44,800 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$128 /mo · $1,537/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $236

Break-even live

Break-even rent $1,309

Max offer price $160,000

Occupancy floor 80%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $160,000 Active 48 DOM
2. 2026-06-17
   days on market $160,000 Active 47 DOM
3. 2026-06-16
   remarks 681-char remark
4. 2026-06-16
   days on market $160,000 Active 46 DOM
5. 2026-06-15
   days on market $160,000 Active 45 DOM
6. 2026-06-13
   days on market $160,000 Active 43 DOM
7. 2026-06-13
   pricedays on market $160,000 Active 42 DOM
8. 2026-06-09
   days on market $188,000 Active 39 DOM
9. 2026-06-08
   days on market $188,000 Active 38 DOM
10. 2026-06-07
    days on market $188,000 Active 37 DOM
11. 2026-06-04
    days on market $188,000 Active 34 DOM
12. 2026-06-03
    days on market $188,000 Active 33 DOM
13. 2026-06-02
    days on market $188,000 Active 32 DOM
14. 2026-06-01
    days on market $188,000 Active 31 DOM
15. 2026-05-31
    days on market $188,000 Active 30 DOM
16. 2026-05-22
    status Active
17. 2026-05-08
    historical Active Under Contract
18. 2026-05-01
    listed $188,000 Active

ⓘ 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: $1,537 · $128/mo
• Projected year-2 tax: $1,537 · $128/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $19,294
• − Mortgage interest: −$8,962
• − Property taxes: −$1,537
• − Insurance: −$800
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − Depreciation: −$4,655
• Taxable income: $253
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,776/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 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

3 events — show timeline

• 2026-05-22 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Listed $188,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2024): $1,537 · +0.0% YoY. Source: county tax records.