141 Winged Elm Ln · Mooresville, NC 28115

$154,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 13 Days on market

Built 1983 1.04 ac lot

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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 +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE ONLY AUCTION. LIST PRICE IS NOT SELLER'S ASKING PRICE BUT TAX VALUE OR CURRENT HIGH BID PLUS BUYER'S PREMIUM. Discover peaceful country living at 141 Winged Elm Lane in Mooresville. Situated on 1.04± acres, this ranch-style home offers approximately 1,378± square feet with 3 bedrooms and 2 full bathrooms. The home features a spacious living room, dining area, functional kitchen, covered front porch, and covered rear deck overlooking the private setting. A detached garage/workshop of approximately 774± square feet provides excellent space for vehicles, hobbies, storage, or equipment. Conveniently located near shopping, dining, schools, and recreation while offerin

Key facts

• Covered front porch
• Covered rear deck
• Private setting

Tags

• COVERED FRONT PORCH
• COVERED REAR DECK
• DETACHED GARAGE
• PRIVATE SETTING
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Zoned RA; Property listed as auction
• HOA & community: No HOA

Exterior

• Parking: Detached 1-car garage; Main-level garage
• Utilities: Well water; Septic system
• Home design: Single-family residential home; One story; Site-built construction
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Private maintained gravel road; Lot is approximately 1.04 acres

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; Window unit(s) for cooling
• Interior features: Seven total rooms; Gas fireplace in the living room
• Laundry & utility: Laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Cap rate 10.1% vs local median 2.9% in Mooresville — 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 (#66 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 498 active listings in the ZIP; solid renter incomes; 592 units permitted in Rowan County in 2024 (5 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.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

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 $154,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.19% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $394,784
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Woodlea Ct	0.66mi	3/2.0	1,231 (-9%)	21mo	$360,000	$292	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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $3,789
• Equity at exit: $22,962

10-year hold

• IRR: 10.5%
• Equity multiple: 1.77×
• Total profit: $33,220
• Equity at exit: $13,315

Cash invested: $43,120 (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 28115

• Rents YoY: 1.6%
• Active inventory: 498
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,837 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$87 /mo · $1,044/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $493

Break-even live

Break-even rent $1,214

Max offer price $154,000

Occupancy floor 68%

Sensitivity live

Price	-10% $580	-5% $536	+0% $493	+5% $449	+10% $405
Rent	-10% $347	-5% $420	+0% $493	+5% $565	+10% $638
Rate	-1.0pp $570	-0.5pp $532	base $493	+0.5pp $453	+1.0pp $412

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $154,000 Active 13 DOM
2. 2026-06-18
   days on market $154,000 Active 10 DOM
3. 2026-06-17
   days on market $154,000 Active 9 DOM
4. 2026-06-16
   days on market $154,000 Active 8 DOM
5. 2026-06-15
   days on market $154,000 Active 7 DOM
6. 2026-06-13
   pricedays on market $154,000 Active 5 DOM
7. 2026-06-10
   price $108,900 Active 1 DOM
8. 2026-06-08
   remarks 678-char remark
9. 2026-06-08
   listed $155,750 Active 1 DOM

ⓘ 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: $1,044 · $87/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$219/yr (+$18/mo · 21.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,044
• − Mortgage interest: −$8,626
• − Property taxes: −$1,044
• − Insurance: −$770
• − Repairs & maintenance: −$1,764
• − Management: −$1,764
• − Depreciation: −$4,480
• Taxable income: $3,597
• Est. tax owed @ 24.0%: −$863
• After-tax cash flow: $5,047/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Mooresville

• Score: 73/100
• State rank: #66
• US rank: #5026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 92,370
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

• 2026-06-08 Listed $155,750 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $1,044 · +0.0% YoY. Source: county tax records.