24 Midway St · Granite Falls, NC 28630

$185,000

4 bd · 2.0 ba · 1,251 sqft · SingleFamily public records · 17 Days on market

Built 1966 8,276 sqft lot Est $260k · 29% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• DSCR +4.5/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 4-bedroom, 2-bath home in Granite Falls listed at $210,000. This property offers a functional layout with flexible living space, perfect for first-time buyers or investors. Conveniently located near schools, shopping, and dining, with easy access to major roadways. Great opportunity to make it your own or add to your portfolio. Agent - please read agent remarks - financing fell through for buyer - back on market no fault to seller

Key facts

• 8,276 sq ft lot
• Built 1966
• Listed 17 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport; Detached carport; Has carport(s)
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; One story; Residential zoning
• Construction: Site-built construction materials (other — see remarks); Foundation: Other (see remarks)
• Exterior features: Asphalt/paved road access; Publicly maintained road

Interior

• Kitchen: Electric range
• Bedrooms: Four bedrooms (all on the main level)
• Bathrooms: Two full bathrooms
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: Basement present (other — see remarks); Fireplace; One main living/room count listed
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $46 ($546/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 $150k (18.9% below list).
• Recommended offer: $150k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.3% in Granite Falls — 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 65/100 on livability (#297 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Caldwell County Schools (suburban): math 38% / reading 46% proficiency, ranked #106 of 178 in NC (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 217 units permitted in Caldwell County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Caldwell County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; list at $185k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $150,000 (18.9% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.81% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $260,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Central Ave	0.14mi	3/2.0 (-1)	1,236 (-1%)	1mo	$240,000	$194	85
4 Plaza Dr	0.49mi	3/2.0 (-1)	1,259 (+1%)	4mo	$222,000	$176	68
17 Hillside Ave	0.26mi	3/2.0 (-1)	1,144 (-9%)	8mo	$249,900	$218	62
10 Hunters Ridge Ct	0.62mi	3/2.0 (-1)	1,255 (+0%)	9mo	$290,000	$231	58
21 East St	0.48mi	3/2.0 (-1)	1,315 (+5%)	8mo	$250,000	$190	58
126 N Main St	0.60mi	3/2.0 (-1)	1,311 (+5%)	2mo	$275,000	$210	58
23 East St	0.50mi	3/2.0 (-1)	1,315 (+5%)	7mo	$260,000	$198	57
6 Colonial Ave	0.62mi	4/2.0	1,405 (+12%)	2mo	$291,500	$207	49
109 Short St	0.52mi	3/2.0 (-1)	1,092 (-13%)	1mo	$244,000	$223	48
4 Colonial Ave	0.61mi	4/2.0	1,403 (+12%)	5mo	$300,500	$214	47
8 Colonial Ave	0.62mi	4/2.0	1,403 (+12%)	4mo	$292,000	$208	47
76 Duke St	0.52mi	3/1.0 (-1)	1,413 (+13%)	9mo	$273,000	$193	38

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: -14.7%
• Equity multiple: 0.48×
• Total profit: $-27,143
• Equity at exit: $27,584

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-20,158
• Equity at exit: $15,995

Cash invested: $51,800 (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 28630

• Home prices YoY: -9.0%
• Active inventory: 144
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$92 /mo · $1,107/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $46

Break-even live

Break-even rent $1,442

Max offer price $185,000

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $98	+0% $46	+5% $-7	+10% $-59
Rent	-10% $-73	-5% $-14	+0% $46	+5% $105	+10% $164
Rate	-1.0pp $139	-0.5pp $93	base $46	+0.5pp $-2	+1.0pp $-51

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Duke Power Rd Unit 1 Granite Falls, NC	3.0	2.0	1500	$1,500	$1.00	13d	1	0.97mi

Listing history 10 events

1. 2026-06-07
   status $185,000 Pending 17 DOM
2. 2026-06-03
   days on market $185,000 Active 17 DOM
3. 2026-06-02
   remarks 445-char remark
4. 2026-06-02
   pricestatusdays on market $185,000 Active 16 DOM
5. 2026-05-02
   status Pending
6. 2026-04-20
   price $195,000
7. 2026-04-19
   price $205,000
8. 2026-04-17
   listed $210,000 Active
9. 2005-06-29
   soldstatus $64,000
10. 2005-06-29
    soldstatus $64,000

ⓘ 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: $1,107 · $92/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$410/yr (+$34/mo · 37.0%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,000
• − Mortgage interest: −$10,363
• − Property taxes: −$1,107
• − Insurance: −$925
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$5,382
• Taxable loss: −$2,657
• Est. tax savings @ 24.0%: +$638
• After-tax cash flow: $1,184/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: Caldwell County Schools
• NCES district ID: 3700580
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,165
• Composite: 34.9/100
• National rank: #5079
• State rank: #106 of 178 in NC

Livability — Granite Falls

• Score: 65/100
• State rank: #297
• US rank: #12418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite Falls, NC
• Population (ZIP): 20,400

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 77,603 people
• By 2030: 74,714 · -3.7%
• By 2040: 67,732 · -12.7%
• By 2050: 59,938 · -22.8%
• By 2075: 43,232 · -44.3%
• By 2100: 28,894 · -62.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Caldwell

• 2024 margin: Solid R (+52.6) · D 23.4% · R 76.0%
• 2008→2024 swing: -22.9pp toward R · 2008: -29.7pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+51.1 2016: R+50.6 2012: R+35.7 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.49%
• Current HPI: 267.1192
• 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

+204.7% since first listed

6 events — show timeline

• 2026-05-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $205,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Listed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2005-06-29 Sold (Public Records) $64,000 Public Records
• 2005-06-29 Sold (Public Records) $64,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $1,107 · +144.3% YoY. Source: county tax records.