312 Fulton St · Kings Mountain, NC 28086

$210,900

3 bd · 1.0 ba · 1,265 sqft · SingleFamily public records · 506 Days on market

Built 1966 0.31 ac lot Est $239k · 12% 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).

• Cash flow +16.0/30.0
• ARV discount +12.8/15.0
• DSCR +4.9/10.0
• Schools +4.0/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tenant occupied. Please do not disturb the tenant. Guard dogs are also present on the property. This is part of a multi-property portfolio all of which is available. Roof replaced 2022, HVAC gas furnace and gas water heater replaced 2020. New sewer line installed 2020. Fenced backyard that backs up to woods. Very convenient to town, Hwy 74 and I-85.

Key facts

• Gas water heater
• Backs up to woods
• Hvac gas furnace

Tags

• ROOF REPLACED
• HVAC GAS FURNACE
• GAS WATER HEATER
• NEW SEWER LINE
• FENCED BACKYARD
• BACKS UP TO WOODS

Property features AI

Finance

• HOA & community: Homeowners association present; membership required

Exterior

• Parking: Driveway; Attached carport (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One story
• Construction: Site-built construction; Full brick exterior; Composition roof; Crawl space foundation; Built on one level
• Exterior features: Back yard fencing; Level lot; Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range; Gas water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Wood floors
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating with forced air; Natural gas heating; Central air conditioning
• Interior features: Attic access/other attic feature; One living room (room count listed as 1)
• Laundry & utility: Utility room for laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $211k.

Deal economics

• At list price, monthly cash flow is $104 ($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 $180k (14.6% below list).
• Recommended offer: $180k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.4% in Kings Mountain — 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 63/100 on livability (#404 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kings Mountain High (math 68% / reading 65%, grade B, #150 of 535 statewide, top 28%, 1,236 students, 56% FRL) — zoned schools at 56% FRL track the district average.
• Zoned-school proficiency averages 66% at this address vs 48% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Cleveland County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 194 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 506 days — a 12% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $180,137 (14.6% below list)

Questions for the listing agent

1. It's been on market 506 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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 F 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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $239,085
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Walker St	0.20mi	2/3.0 (-1)	1,190 (-6%)	2mo	$86,000	$72	66
116 Walker St	0.35mi	2/1.0 (-1)	1,190 (-6%)	6mo	$55,125	$46	64
316 Fulton St	0.03mi	4/2.0 (+1)	1,425 (+13%)	8mo	$269,999	$189	62
102 S Watterson St	0.71mi	3/2.0	1,266 (+0%)	2mo	$215,000	$170	62
703 Sterling Dr	0.14mi	4/2.0 (+1)	1,440 (+14%)	4mo	$125,000	$87	58
220 Lackey St	0.22mi	4/2.0 (+1)	1,399 (+11%)	8mo	$158,500	$113	57
524 Waco Rd	0.35mi	3/2.0	1,450 (+15%)	5mo	$299,900	$207	51
522 Waco Rd	0.35mi	3/2.0	1,450 (+15%)	6mo	$299,500	$207	50
528 Waco Rd	0.42mi	3/2.0	1,450 (+15%)	4mo	$285,000	$197	49
202 N Gaston St	0.73mi	3/2.0	1,321 (+4%)	10mo	$259,000	$196	46
410 Clinton Dr	0.62mi	3/2.0	1,167 (-8%)	10mo	$190,000	$163	46
352 Edgemont Dr	0.70mi	2/2.0 (-1)	1,162 (-8%)	11mo	$225,000	$194	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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-27,585
• Equity at exit: $31,446

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-15,696
• Equity at exit: $18,235

Cash invested: $59,052 (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 28086

• Home prices YoY: -28.6%
• Active inventory: 194
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,801 high
• Mortgage (P&I): −$1,106
• Tax from tax record: −$125 /mo · $1,498/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $104

Break-even live

Break-even rent $1,669

Max offer price $210,900

Occupancy floor 89%

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: $52,725
• Closing costs: $6,327
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Lackey St Kings Mountain, NC	3.0	2.5	1450	$1,700	$1.17	23d	1	0.24mi
824 2nd St Kings Mountain, NC	3.0	1.0	1445	$1,700	$1.18	23d	1	0.93mi
203 Benfield Rd Kings Mountain, NC	3.0	2.5	1530	$1,950	$1.27	11d	1	1.04mi
107 Cambridge Oaks Cir Kings Mountain, NC	1.0–3.0	1.0–2.0	986	$1,219	$1.24	1d	1	1.41mi
914 Linwood Rd Kings Mountain, NC	2.0	1.0	948	$1,400	$1.48	4d	1	1.50mi

Listing history 18 events

1. 2026-06-19
   days on market $210,900 Active 506 DOM
2. 2026-06-18
   days on market $210,900 Active 505 DOM
3. 2026-06-17
   days on market $210,900 Active 504 DOM
4. 2026-06-16
   days on market $210,900 Active 503 DOM
5. 2026-06-15
   days on market $210,900 Active 502 DOM
6. 2026-06-14
   days on market $210,900 Active 500 DOM
7. 2026-06-13
   days on market $210,900 Active 499 DOM
8. 2026-06-10
   days on market $210,900 Active 497 DOM
9. 2026-06-09
   days on market $210,900 Active 496 DOM
10. 2026-06-08
    days on market $210,900 Active 495 DOM
11. 2026-06-07
    days on market $210,900 Active 494 DOM
12. 2026-06-05
    days on market $210,900 Active 491 DOM
13. 2026-06-03
    days on market $210,900 Active 490 DOM
14. 2026-06-02
    days on market $210,900 Active 489 DOM
15. 2026-06-01
    days on market $210,900 Active 488 DOM
16. 2026-05-31
    days on market $210,900 Active 487 DOM
17. 2026-05-30
    days on market $210,900 Active 486 DOM
18. 2025-01-29
    listed $210,900 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: $1,498 · $125/mo
• Projected year-2 tax: $1,729 · $144/mo
• Expected delta: +$231/yr (+$19/mo · 15.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,616
• − Mortgage interest: −$11,814
• − Property taxes: −$1,498
• − Insurance: −$1,054
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$6,135
• Taxable loss: −$2,344
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $1,815/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Kings Mountain

• Score: 63/100
• State rank: #404
• US rank: #15377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kings Mountain, NC
• County: Cleveland County · 83,736 people
• City population: 29,460
• Metro: Shelby, NC
• Population (ZIP): 29,460
• Household income: $62,414
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 726.0

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 16% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 2%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.17%
• Current HPI: 248.0613
• Rent YoY: —
• Metro: Shelby, NC
• 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

1 event — show timeline

• 2025-01-29 Listed $210,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $1,498 · +25.0% YoY. Source: county tax records.