140 Fire Tower Rd · Columbus, NC 28756

$210,000

4 bd · 2.0 ba · 1,560 sqft · SingleFamily · 2 Days on market

Built 1959 2.91 ac lot Est $323k · 35% under

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Why this score? — see what drove the B- 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 +18.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• Schools +5.1/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 4 bedroom, 2 bathroom home with tons of potential! Just needs a little TLC to truly shine. Perfect for buyers looking to create their dream space and add personal touches. Don’t miss this opportunity—homes like this don’t last long!

Key facts

• 2.91 acre lot
• Built 1959
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/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 $184k (12.3% below list).
• Recommended offer: $184k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.2% in Columbus — 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 74/100 on livability (#53 in NC, #4,439 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D+, employment D+, amenities F.
• Polk County Schools (rural): math 58% / reading 62% proficiency, ranked #32 of 178 in NC (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 171 active listings in the ZIP; 143 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Polk County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,086 (12.3% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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.
5. 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.
6. 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: 7.39%
• Cash-on-cash: 3.90%
• DSCR: 1.17
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $322,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Fire Tower Rd	0.00mi	4/2.0	1,560 (0%)	1mo	$217,000	$139	100
6 Rachel Bell Rd	0.53mi	3/3.5 (-1)	1,619 (+4%)	4mo	$335,000	$207	55
6 Rachel Bell Rd	0.53mi	3/3.5 (-1)	1,619 (+4%)	10mo	$695,000	$429	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.15×
• Total profit: $126,459
• Equity at exit: $189,185

10-year hold

• IRR: 23.7%
• Equity multiple: 7.17×
• Total profit: $362,652
• Equity at exit: $407,984

Cash invested: $58,800 (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 28756

• Active inventory: 171
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,841 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $191

Break-even live

Break-even rent $1,599

Max offer price $210,000

Occupancy floor 85%

Sensitivity live

Price	-10% $310	-5% $251	+0% $191	+5% $132	+10% $72
Rent	-10% $46	-5% $118	+0% $191	+5% $264	+10% $337
Rate	-1.0pp $297	-0.5pp $245	base $191	+0.5pp $137	+1.0pp $81

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-26
   status Pending
2. 2026-03-24
   listed $210,000 Active
3. 2026-03-22
   historical $210,000

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$830/yr (+$69/mo · 93.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,090
• − Mortgage interest: −$11,763
• − Property taxes: −$892
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$6,109
• Taxable loss: −$1,259
• Est. tax savings @ 24.0%: +$302
• After-tax cash flow: $2,596/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: Polk County Schools
• NCES district ID: 3703720
• Math proficiency: 58% ▬ 0.00%
• Reading proficiency: 62% ▬ 0.00%
• Median HH income: $44,641
• Composite: 50.56/100
• National rank: #1847
• State rank: #32 of 178 in NC

Livability — Columbus

• Score: 74/100
• State rank: #53
• US rank: #4439

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,468

Population outlook (Polk County) Hauer SSP2

• Today (2025): 20,043 people
• By 2030: 19,764 · -1.4%
• By 2040: 18,836 · -6.0%
• By 2050: 17,529 · -12.5%
• By 2075: 14,741 · -26.5%
• By 2100: 11,461 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 17% Hispanic / Latino 17% Black 8%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 3% Lithuanian 3% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 16%

Political lean MEDSL · Polk

• 2024 margin: Strong R (+25.2) · D 37.0% · R 62.2%
• 2008→2024 swing: -10.1pp toward R · 2008: -15.1pp · 2024: -25.2pp
• All cycles: 2024: R+25.2 2020: R+25.7 2016: R+28.2 2012: R+21.5 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 98.78%
• Current HPI: 272.03
• 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

+0.0% since first listed

3 events — show timeline

• 2026-03-26 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-03-24 Listed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-22 Coming Soon $210,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $892 · +15.2% YoY. Source: county tax records.