901 State St Unit Ext · Marion, NC 28752

$99,000

2 bd · 1.0 ba · 856 sqft · SingleFamily · 51 Days on market

Built 1948 Fair condition 4,356 sqft lot ↓ 5% 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-located single-level home in Marion, NC offering 2 bedrooms and 1 full bathroom with a functional layout that includes a living area and eat-in kitchen. The property sits on a level lot with a yard suited for outdoor use and everyday living, conveniently positioned near schools, shopping, dining, and major access routes. An excellent opportunity for buyers seeking affordability, flexibility, and long-term value in an established area. The list price/sales price is subject to the seller’s approval. All contracts are subject to final review and approval by the seller and are not binding unless fully ratified by all parties. All offers must be submitted by the buyer’s agent vi

Key facts

• 4,356 sq ft lot
• Built 1948
• Listed 50 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built home; One story; Second living quarters at main level; Zoned R
• Construction: Vinyl exterior; Composition roof; Crawl space foundation
• Exterior features: Lot is approximately 0.1 acres; Roads are dirt and paved; publicly maintained

Interior

• Kitchen: Electric range
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating (oil); No central cooling
• Interior features: Seven total rooms; Den with fireplace
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.3% in Marion — 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 72/100 on livability (#93 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Mcdowell County Schools (rural): math 35% / reading 46% proficiency, ranked #115 of 178 in NC (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marion Elementary School (math 52% / reading 42%, grade D-, #497 of 1,410 statewide, top 38%, 355 students, 76% FRL); Mcdowell High School (math 50% / reading 57%, grade C-, #279 of 535 statewide, top 52%, 1,416 students, 60% FRL).
• Market conditions: 266 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 175 units permitted in McDowell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McDowell County population projected at -11% 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.31% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $200,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 6th C St #31	0.23mi	2/1.0	892 (+4%)	7mo	$80,000	$90	76
48 Circle Ln	0.51mi	2/1.0	840 (-2%)	0mo	$175,000	$208	73
100 Perry St	0.35mi	2/1.0	904 (+6%)	2mo	$192,000	$212	72
102 6th EM St	0.48mi	2/1.0	900 (+5%)	0mo	$145,000	$161	69
376 State St	0.58mi	2/1.0	812 (-5%)	1mo	$190,000	$234	64
250 Seagle St	0.52mi	2/1.0	924 (+8%)	1mo	$255,000	$276	62
354 Carolina Ave #6	0.58mi	2/1.0	926 (+8%)	7mo	$235,000	$254	53
129 Seagle St	0.41mi	3/1.0 (+1)	768 (-10%)	8mo	$195,800	$255	52
60 3rd St	0.69mi	3/1.0 (+1)	886 (+4%)	6mo	$193,000	$218	52
610 Miller Ave	0.55mi	2/1.0	750 (-12%)	6mo	$180,000	$240	49
70 Alabama Ave	0.70mi	2/1.5	941 (+10%)	6mo	$237,000	$252	44
1277 Virginia Rd	0.53mi	1/1.0 (-1)	960 (+12%)	9mo	$129,900	$135	42

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $5,813
• Equity at exit: $14,761

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $33,258
• Equity at exit: $8,560

Cash invested: $27,720 (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 28752

• Active inventory: 266
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $343

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 69%

Sensitivity live

Price	-10% $411	-5% $377	+0% $343	+5% $309	+10% $274
Rent	-10% $240	-5% $291	+0% $343	+5% $394	+10% $446
Rate	-1.0pp $393	-0.5pp $368	base $343	+0.5pp $317	+1.0pp $291

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75 Laurelwood Dr #69 Marion, NC	2.0	1.5	1054	$1,300	$1.23	14d	1	0.99mi

Listing history 18 events

1. 2026-06-19
   days on market $99,000 Active 51 DOM
2. 2026-06-18
   days on market $99,000 Active 50 DOM
3. 2026-06-17
   days on market $99,000 Active 49 DOM
4. 2026-06-16
   days on market $99,000 Active 48 DOM
5. 2026-06-15
   days on market $99,000 Active 47 DOM
6. 2026-06-14
   days on market $99,000 Active 45 DOM
7. 2026-06-13
   pricedays on market $99,000 Active 44 DOM
8. 2026-06-10
   days on market $104,500 Active 42 DOM
9. 2026-06-09
   days on market $104,500 Active 41 DOM
10. 2026-06-08
    days on market $104,500 Active 40 DOM
11. 2026-06-07
    days on market $104,500 Active 39 DOM
12. 2026-06-02
    days on market $104,500 Active 34 DOM
13. 2026-06-01
    days on market $104,500 Active 33 DOM
14. 2026-05-31
    days on market $104,500 Active 32 DOM
15. 2026-05-30
    days on market $104,500 Active 31 DOM
16. 2026-05-13
    price $104,500
17. 2026-04-29
    listed $110,000 Active
18. 2026-04-15
    listed $110,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,600
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$2,880
• Taxable income: $2,698
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $3,466/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

A fair condition home with moderate rehab needs, including exterior painting, flooring repair, and interior painting. These updates would significantly improve its resale and rental value.

Repairs flagged

• Minor exterior siding — Some discoloration
• Major flooring — Worn hardwood floors
• Minor interior walls — Some wear

Value-add opportunities

• Resale paint exterior siding — Enhances curb appeal
• Both repair flooring — Improves living experience and resale value
• Resale paint interior walls — Fresh paint enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
flooring · Worn hardwood floors	Major	$15,000–50,000
interior walls · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Resale paint exterior siding — Enhances curb appeal ↑
• Both repair flooring — Improves living experience and resale value ↑
• Resale paint interior walls — Fresh paint enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mcdowell County Schools
• NCES district ID: 3702940
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $36,769
• Composite: 33.6/100
• National rank: #5413
• State rank: #115 of 178 in NC

Livability — Marion

• Score: 72/100
• State rank: #93
• US rank: #6157

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, NC
• City population: 30,602
• Population (ZIP): 30,602

Population outlook (McDowell County) Hauer SSP2

• Today (2025): 44,615 people
• By 2030: 44,002 · -1.4%
• By 2040: 42,285 · -5.2%
• By 2050: 39,906 · -10.6%
• By 2075: 34,396 · -22.9%
• By 2100: 27,970 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 5% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 4% Slovak 2% Iranian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 8% German/W. Germanic 1% Vietnamese 1%

Political lean MEDSL · McDowell

• 2024 margin: Solid R (+49.2) · D 25.1% · R 74.2%
• 2008→2024 swing: -22.2pp toward R · 2008: -27.0pp · 2024: -49.2pp
• All cycles: 2024: R+49.2 2020: R+48.0 2016: R+50.5 2012: R+31.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.41%
• Current HPI: 182.9225
• 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

-5.0% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $104,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-29 Listed $110,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Listed $110,000 CANOPYMLS as Distributed by MLS Grid