828 N Piedmont Ave · Kings Mountain, NC 28086

$155,000

2 bd · 1.0 ba · 2,015 sqft · SingleFamily public records · 155 Days on market

Built 1934 0.46 ac lot ↓ 22% 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Older home located on one of the main streets of KM. House has a porch on one side and also a front porch. Two small rooms located on the back of the house with a walk in closet between them. Basement can be accessed from the back & also has stairs from the main level. Nice lot. with a large back yard. 2 display cabinets on the wall in the dining room.

Key facts

• Large back yard
• Walk in closet
• Display cabinets

Tags

• WALK IN CLOSET
• LARGE BACK YARD
• DISPLAY CABINETS

Property features AI

Finance

• Other: Lot approximately 0.46 acres; No waterfront or horse amenities; No other structures on the property
• HOA & community: No HOA; not subject to dues; No community features listed

Exterior

• Parking: Parking spaces available
• Utilities: City water; Public sewer; Cable available
• Home design: Single family residence; Site-built construction; One story; Zoned SU; Road access is publicly maintained; road surfaces include dirt and paved
• Construction: Wood construction; Composition roof; Other foundation details (see remarks); Built on site
• Exterior features: Other (see remarks)

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Heat pump cooling
• Interior features: Walk-in closet(s); Storm windows; 5 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry room inside, located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: East Elementary (math 67% / reading 52%, grade B-, #205 of 1,410 statewide, top 16%, 214 students, 98% FRL); Kings Mountain High (math 68% / reading 65%, grade B, #150 of 535 statewide, top 28%, 1,236 students, 56% FRL) — zoned schools average 77% FRL vs 59% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 63% at this address vs 48% district-wide (+15 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).
• This rent runs 34% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• 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 $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — 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. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $324,415
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Center St	0.42mi	3/2.0 (+1)	1,802 (-11%)	2mo	$290,000	$161	52
901 N Cansler St	0.55mi	3/2.0 (+1)	2,073 (+3%)	23mo	$455,000	$219	41
211 Fulton St	0.51mi	3/2.5 (+1)	2,253 (+12%)	23mo	$340,000	$151	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: 0.3%
• Equity multiple: 1.01×
• Total profit: $448
• Equity at exit: $23,111

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $33,217
• Equity at exit: $13,402

Cash invested: $43,400 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,743 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$98 /mo · $1,175/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $402

Break-even live

Break-even rent $1,235

Max offer price $155,000

Occupancy floor 72%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
824 2nd St Kings Mountain, NC	3.0	1.0	1445	$1,700	$1.18	24d	1	0.28mi
203 Benfield Rd Kings Mountain, NC	3.0	2.5	1530	$1,950	$1.27	11d	1	0.38mi
711 Lackey St Kings Mountain, NC	3.0	2.5	1450	$1,700	$1.17	24d	1	0.46mi
103 Falls St Kings Mountain, NC	1.0	1.0	1740	$530	$0.30	13d	1	1.40mi

Listing history 4 events

1. 2026-05-07
   status Pending
2. 2026-04-22
   price $155,000
3. 2026-01-27
   price $190,000
4. 2025-12-03
   listed $200,000 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: $1,175 · $98/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$96/yr (+$8/mo · 8.2%)

ⓘ 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 14% 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: $20,920
• − Mortgage interest: −$8,682
• − Property taxes: −$1,175
• − Insurance: −$775
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$4,509
• Taxable income: $2,431
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $4,239/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

-22.5% since first listed

4 events — show timeline

• 2026-05-07 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $155,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $190,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-03 Listed $200,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2025): $1,175 · +25.1% YoY. Source: county tax records.