1025 Martin Luther King Jr Dr · Albemarle, NC 28001

$118,000

2 bd · 1.0 ba · 732 sqft · SingleFamily public records · 37 Days on market

Built 1940 6,969 sqft lot Est $124k · at est. ↓ 11% since listing

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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 +18.4/30.0
• ARV discount +9.6/15.0
• DSCR +5.8/10.0
• 1% rule +3.8/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated investment opportunity in the heart of Albemarle. This 2-bedroom, 1-bath home offers a strong option for investors looking to add a primarily move-in-ready property to their portfolio or for buyers seeking an affordable home with recent improvements already completed. Recent updates include new vinyl plank flooring, an updated kitchen, renovated bathroom, fresh interior finishes, and an improved back deck overlooking the spacious and private backyard. The home also features a covered front porch, open living area, and functional kitchen/dining layout. Conveniently located 1/2 mile to Main Street in downtown Albemarle providing easy access to local shops, restaurants & parks. T

Key facts

• Covered front porch
• Renovated bathroom
• Private backyard

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOM
• IMPROVED BACK DECK
• COVERED FRONT PORCH
• OPEN LIVING AREA
• PRIVATE BACKYARD

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence (site built); One-story; Entry level: Main; Zoning: R-8
• Construction: Site built construction; Foundation: Crawl space; Construction materials: N/A
• Exterior features: Covered patio/porch; Deck; Front porch; Publicly maintained road; Road surfaces include concrete, dirt, and paved

Interior

• Kitchen: Electric range
• Bedrooms: Two bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: Five total rooms; Vinyl flooring; Heating: Other (see remarks); Cooling: Other (see remarks)
• Laundry & utility: Laundry in kitchen on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (11.9% below list).
• Recommended offer: $104k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.3% in Albemarle — 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 68/100 on livability (#167 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.
• Stanly County Schools (rural): math 38% / reading 42% proficiency, ranked #113 of 178 in NC (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary (math 25% / reading 26%, grade F, #1,093 of 1,410 statewide, top 78%, 546 students, 100% FRL); Albemarle High (math 42% / reading 27%, grade F, #427 of 535 statewide, top 81%, 390 students, 97% FRL) — zoned schools average 98% FRL vs 46% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 278 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 367 units permitted in Stanly County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stanly County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,918 (11.9% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
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: 0.88% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $123,708
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 N 7th St	0.34mi	2/1.0	712 (-3%)	14mo	$113,000	$159	68
426 Lincoln St	0.24mi	2/1.0	759 (+4%)	19mo	$128,000	$169	67
616 Lee St	0.56mi	2/1.0	765 (+4%)	6mo	$140,000	$183	62
754 S 5th St	0.75mi	2/1.0	748 (+2%)	4mo	$161,500	$216	58
576 Washington Ln	0.38mi	2/1.0	660 (-10%)	12mo	$74,000	$112	56
529 Colston St	0.25mi	2/1.0	815 (+11%)	22mo	$97,500	$120	51
402 Peachtree St	0.62mi	2/1.0	804 (+10%)	23mo	$160,000	$199	36

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-12,220
• Equity at exit: $17,594

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-1,888
• Equity at exit: $10,202

Cash invested: $33,040 (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 28001

• Home prices YoY: -33.1%
• Active inventory: 278
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,039 high
• Mortgage (P&I): −$619
• Tax from tax record: −$44 /mo · $527/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $109

Break-even live

Break-even rent $901

Max offer price $118,000

Occupancy floor 84%

Sensitivity live

Price	-10% $176	-5% $143	+0% $109	+5% $76	+10% $42
Rent	-10% $27	-5% $68	+0% $109	+5% $150	+10% $191
Rate	-1.0pp $169	-0.5pp $139	base $109	+0.5pp $79	+1.0pp $47

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
435 Davis St Albemarle, NC	2.0	1.0	576	$895	$1.55	24d	1	0.31mi
117 N 6th St Albemarle, NC	1.0	1.0	739	$950	$1.29	24d	1	0.37mi
121 Heath St Apt 16 Albemarle, NC	2.0	1.0	750	$995	$1.33	13d	1	0.38mi
197 N 2nd St Unit 005 Albemarle, NC	1.0	1.0	733	$1,225	$1.67	24d	1	0.78mi
1110 Magnolia St Albemarle, NC	1.0	1.0	708	$1,525	$2.15	13d	1	0.98mi

Listing history 22 events

1. 2026-06-21
   days on market $118,000 Active 37 DOM
2. 2026-06-18
   days on market $118,000 Active 34 DOM
3. 2026-06-17
   days on market $118,000 Active 33 DOM
4. 2026-06-16
   days on market $118,000 Active 32 DOM
5. 2026-06-15
   days on market $118,000 Active 31 DOM
6. 2026-06-13
   days on market $118,000 Active 29 DOM
7. 2026-06-10
   price $118,000 Active 25 DOM
8. 2026-06-09
   days on market $125,000 Active 25 DOM
9. 2026-06-08
   days on market $125,000 Active 24 DOM
10. 2026-06-07
    days on market $125,000 Active 23 DOM
11. 2026-06-04
    days on market $125,000 Active 20 DOM
12. 2026-06-03
    days on market $125,000 Active 19 DOM
13. 2026-06-02
    days on market $125,000 Active 18 DOM
14. 2026-06-01
    days on market $125,000 Active 17 DOM
15. 2026-05-31
    days on market $125,000 Active 16 DOM
16. 2026-05-15
    listed $125,000 Active
17. 2025-12-03
    status Active
18. 2025-12-03
    price $125,000
19. 2025-10-31
    status Pending
20. 2025-04-28
    listed $135,000 Active
21. 2019-09-04
    soldstatus $250,000
22. 2008-05-19
    soldstatus $140,000

ⓘ 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: $527 · $44/mo
• Projected year-2 tax: $968 · $81/mo
• Expected delta: +$441/yr (+$37/mo · 83.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $12,470
• − Mortgage interest: −$6,610
• − Property taxes: −$527
• − Insurance: −$590
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$3,433
• Taxable loss: −$684
• Est. tax savings @ 24.0%: +$164
• After-tax cash flow: $1,473/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: Stanly County Schools
• NCES district ID: 3704320
• Math proficiency: 38% ▼ -1.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $43,802
• Composite: 33.9/100
• National rank: #5343
• State rank: #113 of 178 in NC

Livability — Albemarle

• Score: 68/100
• State rank: #167
• US rank: #8957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albemarle, NC
• City population: 26,187
• Population (ZIP): 26,187

Population outlook (Stanly County) Hauer SSP2

• Today (2025): 60,082 people
• By 2030: 59,485 · -1.0%
• By 2040: 57,407 · -4.5%
• By 2050: 54,051 · -10.0%
• By 2075: 45,384 · -24.5%
• By 2100: 34,694 · -42.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 15% Hispanic / Latino 5% Two or more races 3% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 3% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Stanly

• 2024 margin: Solid R (+50.9) · D 24.2% · R 75.1%
• 2008→2024 swing: -14.2pp toward R · 2008: -36.7pp · 2024: -50.9pp
• All cycles: 2024: R+50.9 2020: R+51.1 2016: R+50.2 2012: R+40.4 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.68%
• Current HPI: 221.8601
• 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

-10.7% since first listed

7 events — show timeline

• 2026-05-15 Listed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-03 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-12-03 Price Changed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-31 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-04-28 Listed $135,000 CANOPYMLS as Distributed by MLS Grid
• 2019-09-04 Sold (Public Records) $250,000 Public Records
• 2008-05-19 Sold (Public Records) $140,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $527 · +81.2% YoY. Source: county tax records.