722 Live Oak St · Shelby, NC 28150

$165,000

3 bd · 1.5 ba · 1,393 sqft · SingleFamily public records · 16 Days on market

Built 1925 8,276 sqft lot Est $215k · 23% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• DSCR +4.4/10.0
• Rent growth +4.2/5.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.5/10.0

Listing remarks

Excellent opportunity for a move in ready starter home near Uptown Shelby. Very close to up and coming walking trail. Home has tenants that are on month to month agreement. Tenants can stay or go with a 30 day notice. Home has new floors and applicances. Front rocking chair porch that is ideal for a new family to enjoy. Home features a small back deck and alot of natural light.

Key facts

• New floors
• Small back deck
• Walking trail

Tags

• MOVE IN READY
• WALKING TRAIL
• NEW FLOORS
• NEW APPLIANCES
• FRONT ROCKING CHAIR PORCH
• SMALL BACK DECK

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer; Cable available; Electricity connected
• Home design: Single-family residence; Site-built construction; One story
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Covered patio/porch; Front yard fencing; Roads are gravel and concrete; Publicly maintained road

Interior

• Kitchen: Bar fridge
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Electric cooling
• Interior features: Insulated windows; Insulated doors; Bar fridge
• Laundry & utility: Electric dryer hookup; Crawl space foundation access

🏷️ Possibly a rental listed for sale. The $165,000 price doesn't fit this home's estimated sale value (~$214,522) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $33 ($390/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 $135k (18.0% below list).
• Recommended offer: $135k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.9% in Shelby — 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 75/100 on livability (#52 in NC, #4,349 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment 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: Graham Elementary (math 17% / reading 27%); Shelby Middle (math 25% / reading 42%, grade F, #299 of 475 statewide, top 64%, 630 students, 81% FRL); Shelby High (math 17% / reading 52%, grade F, #427 of 535 statewide, top 81%, 825 students, 65% FRL).
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Cleveland County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.7%/yr); 247 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 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.
• 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 16 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $165k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $135,269 (18.0% below list)

Questions for the listing agent

1. Built in 1925 — 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 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?
4. 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?
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: 0.82% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $214,522
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 Legrand St	0.17mi	3/2.5	1,469 (+6%)	1mo	$210,000	$143	78
600 Legrand St	0.25mi	3/2.5	1,335 (-4%)	4mo	$205,000	$154	74
506 Legrand St	0.31mi	3/2.5	1,335 (-4%)	3mo	$209,999	$157	72
825 Hamrick St	0.36mi	3/2.0	1,442 (+4%)	4mo	$200,000	$139	72
319 Martin St	0.53mi	3/1.0	1,393 (0%)	3mo	$140,000	$101	71
603 Calvary St	0.43mi	3/1.5	1,469 (+6%)	2mo	$216,300	$147	70
1008 Wilmouth St	0.34mi	3/2.5	1,463 (+5%)	5mo	$220,000	$150	68
414 Clegg St	0.47mi	3/2.5	1,496 (+7%)	2mo	$215,000	$144	60
508 Clegg St	0.40mi	3/2.0	1,236 (-11%)	5mo	$220,000	$178	56
1214 Patterson St	0.54mi	3/2.0	1,237 (-11%)	1mo	$225,000	$182	54
1212 Patterson St	0.53mi	3/2.0	1,236 (-11%)	4mo	$221,000	$179	52
901 W Elm St	0.73mi	3/2.0	1,548 (+11%)	1mo	$240,000	$155	44

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 · 6.66% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-19,545
• Equity at exit: $24,602

10-year hold

• IRR: 2.2%
• Equity multiple: 1.18×
• Total profit: $8,322
• Equity at exit: $14,266

Cash invested: $46,200 (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 28150

• Home prices YoY: -2.0%
• Rents YoY: 6.7%
• Active inventory: 247
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$102 /mo · $1,225/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $33

Break-even live

Break-even rent $1,312

Max offer price $165,000

Occupancy floor 93%

Sensitivity live

Price	-10% $126	-5% $79	+0% $33	+5% $-14	+10% $-61
Rent	-10% $-74	-5% $-21	+0% $33	+5% $86	+10% $139
Rate	-1.0pp $116	-0.5pp $74	base $33	+0.5pp $-10	+1.0pp $-54

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $165,000 Active 16 DOM
2. 2026-06-19
   days on market $165,000 Active 14 DOM
3. 2026-06-18
   days on market $165,000 Active 13 DOM
4. 2026-06-17
   days on market $165,000 Active 12 DOM
5. 2026-06-16
   days on market $165,000 Active 11 DOM
6. 2026-06-15
   days on market $165,000 Active 10 DOM
7. 2026-06-14
   days on market $165,000 Active 8 DOM
8. 2026-06-13
   days on market $165,000 Active 7 DOM
9. 2026-06-10
   days on market $165,000 Active 5 DOM
10. 2026-06-09
    days on market $165,000 Active 4 DOM
11. 2026-06-08
    days on market $165,000 Active 3 DOM
12. 2026-06-07
    days on marketlisting id $165,000 Active 2 DOM
13. 2026-05-18
    status Active
14. 2026-04-28
    historical Active Under Contract
15. 2026-04-09
    price $165,000
16. 2026-03-13
    price $168,000
17. 2026-01-26
    price $176,000
18. 2025-12-17
    listed $186,000 Active
19. 2005-09-06
    soldstatus $80,000

ⓘ 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: $1,225 · $102/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$128/yr (+$11/mo · 10.5%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $16,232
• − Mortgage interest: −$9,243
• − Property taxes: −$1,225
• − Insurance: −$825
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,800
• Taxable loss: −$2,457
• Est. tax savings @ 24.0%: +$590
• After-tax cash flow: $980/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 — Shelby

• Score: 75/100
• State rank: #52
• US rank: #4349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelby, NC
• County: Cleveland County · 83,736 people
• City population: 26,134
• Metro: Shelby, NC
• Population (ZIP): 28,142
• Household income: $55,832
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 790.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 27% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Serbian 2% Italian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -8.92%
• Current HPI: 447.16
• Rent YoY: ▲ 6.66%
• 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

+106.2% since first listed

7 events — show timeline

• 2026-05-18 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-28 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $168,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-26 Price Changed $176,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-17 Listed $186,000 CANOPYMLS as Distributed by MLS Grid
• 2005-09-06 Sold (Public Records) $80,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,225 · +143.9% YoY. Source: county tax records.