4974 6th St SW · Catawba, NC 28609

$190,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 15 Days on market

Built 1970 0.47 ac lot Est $249k · 24% under ↓ 7% since listing

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property Sold As Is, Where Is, Property has good bones, well built all brick home in a great Community

Key facts

• All brick home
• 0.47 acre lot
• 2 parking spots

Tags

• ALL BRICK HOME

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/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 $189k (0.7% below list).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.9% in Catawba — 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 61/100 on livability (#494 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B; Watch: crime F, amenities F, commute F.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Catawba Elementary School (math 38% / reading 34%, grade F, #812 of 1,410 statewide, top 58%, 404 students, 70% FRL) — zoned schools average 70% FRL vs 43% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 52% district-wide (-16 pts) — the specific schools serving this property underperform the Catawba County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: 92 active listings in the ZIP; 2,016 units permitted in Catawba County in 2024 (255 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.
• Catawba County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $187,150 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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?
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: 0.99% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $249,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4644 Old Catawba Rd #3	0.25mi	3/2.0	1,270 (-9%)	16mo	$230,000	$181	56
4656 Old Catawba Rd #4	0.23mi	3/2.0	1,240 (-11%)	16mo	$226,000	$182	53
5192 Duck Ln	0.63mi	3/2.0	1,518 (+8%)	8mo	$293,000	$193	46
100 5th Avenue Dr SW	0.65mi	3/1.0	1,313 (-6%)	20mo	$218,500	$166	43
2542 Trollinger Dr	0.65mi	3/2.0	1,520 (+9%)	14mo	$287,000	$189	39
2928 Legacy Ridge Ln	0.68mi	3/2.0	1,520 (+9%)	19mo	$269,999	$178	34
2368 Trollinger Dr	0.72mi	3/2.0	1,520 (+9%)	19mo	$257,000	$169	32
2338 Trollinger Dr	0.75mi	3/2.0	1,520 (+9%)	18mo	$256,000	$168	32
2425 Trollinger Dr	0.75mi	3/2.0	1,520 (+9%)	18mo	$257,000	$169	32
2434 Trollinger Dr	0.72mi	2/2.0 (-1)	1,519 (+8%)	17mo	$300,000	$197	29
2302 Trollinger Dr	0.72mi	2/2.0 (-1)	1,520 (+9%)	19mo	$245,000	$161	27
2314 Trollinger Dr	0.75mi	2/2.0 (-1)	1,520 (+9%)	19mo	$240,000	$158	26

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-13,402
• Equity at exit: $28,330

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $10,633
• Equity at exit: $16,428

Cash invested: $53,200 (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 28609

• Home prices YoY: -9.6%
• Active inventory: 92
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,887 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$142 /mo · $1,703/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $273

Break-even live

Break-even rent $1,541

Max offer price $190,000

Occupancy floor 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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2025-06-18
   soldstatus $185,000
2. 2025-05-16
   status Pending
3. 2025-05-01
   listed $190,000 Active
4. 2025-01-17
   historical
5. 2024-11-11
   price $190,000
6. 2024-09-17
   listed $198,000 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: $1,703 · $142/mo
• Projected year-2 tax: $1,703 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,646
• − Mortgage interest: −$10,643
• − Property taxes: −$1,703
• − Insurance: −$950
• − Repairs & maintenance: −$1,812
• − Management: −$1,812
• − Depreciation: −$5,527
• Taxable income: $200
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $3,233/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 of 178 in NC

Livability — Catawba

• Score: 61/100
• State rank: #494
• US rank: #18075

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catawba, NC
• Population (ZIP): 6,617

Population outlook (Catawba County) Hauer SSP2

• Today (2025): 156,513 people
• By 2030: 155,267 · -0.8%
• By 2040: 151,110 · -3.5%
• By 2050: 145,524 · -7.0%
• By 2075: 134,047 · -14.4%
• By 2100: 119,424 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 13% Two or more races 9% Black 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Serbian 2% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Catawba

• 2024 margin: Solid R (+38.0) · D 30.6% · R 68.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -25.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+37.0 2016: R+38.0 2012: R+29.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.61%
• Current HPI: 277.7327
• 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

-6.6% since first listed

6 events — show timeline

• 2025-06-18 Sold (Public Records) $185,000 Public Records
• 2025-05-16 Pending — TMLS
• 2025-05-01 Listed $190,000 TMLS
• 2025-01-17 Listing Removed — TMLS
• 2024-11-11 Price Changed $190,000 TMLS
• 2024-09-17 Listed $198,000 TMLS

Property tax history

+8.9%/yr

Latest (2024): $1,703 · +12.5% YoY. Source: county tax records.