705 E Main St · Cleveland, NC 27013

$195,000

3 bd · 1.0 ba · 1,398 sqft · SingleFamily public records · 90 Days on market

Built 1946 0.44 ac lot Est $273k · 28% 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).

• Cash flow +15.9/30.0
• ARV discount +15.0/15.0
• Appreciation +8.4/10.0
• DSCR +4.9/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

Key facts

• 0.44 acre lot
• Built 1946
• Listed 89 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; 2 open parking spaces
• Utilities: City water; Public sewer; Cable available; Electricity connected
• Home design: Single-family residence, site-built; One level; Development completed; Zoned R-20; Level lot
• Construction: Brick exterior; Crawl space foundation
• Exterior features: Covered porch; Storage

Interior

• Kitchen: Other appliances (see remarks)
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Wood flooring
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: Attic with fixed stairs; 7 total rooms; Fireplace (see remarks)
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $169k (13.6% below list).
• Recommended offer: $169k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#428 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, employment D+, amenities 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: 30 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $13k appreciation (6.9% local appreciation)).
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.
• Current owner paid $165k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $168,575 (13.6% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $272,610
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 Fiber Acres A St	0.36mi	3/2.0	1,380 (-1%)	13mo	$324,900	$235	66
212 Main St E	0.37mi	3/1.0	1,262 (-10%)	1mo	$261,575	$207	66
108 Hall St	0.23mi	4/2.0 (+1)	1,380 (-1%)	18mo	$269,000	$195	63
104 E Main St	0.48mi	3/1.0	1,456 (+4%)	12mo	$274,900	$189	61
3170 Old US 70 Hwy Hwy	0.45mi	3/2.0	1,533 (+10%)	6mo	$284,900	$186	54
214 E Main St	0.36mi	3/2.0	1,268 (-9%)	15mo	$265,000	$209	52
105 Alexander Dr	0.38mi	2/2.0 (-1)	1,585 (+13%)	6mo	$250,000	$158	46
111 Foard St	0.65mi	3/2.0	1,557 (+11%)	20mo	$220,000	$141	31
1195 Mountain Lake Dr	0.54mi	2/2.0 (-1)	1,582 (+13%)	20mo	$524,900	$332	27

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

Projected returns pro-forma

6.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 2.33×
• Total profit: $72,491
• Equity at exit: $133,645

10-year hold

• IRR: 18.1%
• Equity multiple: 4.78×
• Total profit: $206,409
• Equity at exit: $252,533

Cash invested: $54,600 (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 27013

• Home prices YoY: 2.4%
• Active inventory: 30
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,686 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$136 /mo · $1,635/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $92

Break-even live

Break-even rent $1,570

Max offer price $195,000

Occupancy floor 90%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $195,000 Active 90 DOM
2. 2026-06-17
   days on market $195,000 Active 89 DOM
3. 2026-06-16
   days on market $195,000 Active 88 DOM
4. 2026-06-15
   days on market $195,000 Active 87 DOM
5. 2026-06-13
   days on market $195,000 Active 85 DOM
6. 2026-06-09
   days on market $195,000 Active 81 DOM
7. 2026-06-08
   days on market $195,000 Active 80 DOM
8. 2026-06-07
   days on market $195,000 Active 79 DOM
9. 2026-06-04
   days on market $195,000 Active 76 DOM
10. 2026-06-03
    days on market $195,000 Active 75 DOM
11. 2026-06-02
    days on market $195,000 Active 74 DOM
12. 2026-06-01
    days on market $195,000 Active 73 DOM
13. 2026-05-31
    days on market $195,000 Active 72 DOM
14. 2026-04-27
    price $195,000
15. 2026-03-21
    listed $200,000 Active
16. 2026-03-19
    historical $200,000
17. 2023-07-26
    soldstatus $165,000
18. 2023-07-25
    soldstatus $165,000 Closed 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

19. 2023-06-04
    historical Active Under Contract 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

20. 2023-06-02
    status Active 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

21. 2023-05-26
    status Pending 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

22. 2023-05-16
    price $165,000 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

23. 2023-04-22
    listed $185,000 Active 807-char remark

    Show marketing remark (807 chars)

    Back on the market due to no fault of sellers! WELCOME 1st Time Home Buyers or Investors. Come take a look at this fantastic opportunity to purchase a 3 bed room fixer-upper home with loads of potential! This home is perfect for investors or buyers who are looking for a project and the chance to create their dream home. While the home is in need of some TLC, it has great bones and lots of potential. Whether you want to update the kitchen and bathroom, or simply remodel it to create the home you've always wanted. It comes with a separate laundry room and sunroom to boast. The fireplace does not work and the chimney has been removed. Roof was replaced in 2010! This gem sits on .43 of an acre and has plenty of yard for entertaining. This home is in foreclosure and subject to a 10-day bid upset.

ⓘ 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: $1,635 · $136/mo
• Projected year-2 tax: $1,635 · $136/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% 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: $20,229
• − Mortgage interest: −$10,923
• − Property taxes: −$1,635
• − Insurance: −$975
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$5,673
• Taxable loss: −$2,214
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $1,631/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 — Cleveland

• Score: 63/100
• State rank: #428
• US rank: #15829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, NC
• Population (ZIP): 6,975

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 (73%)
• Race & ethnicity: White 73% Black 17% Hispanic / Latino 7% Two or more races 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Vietnamese 1% Arabic 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: ▲ 6.88%
• Current HPI: 293.7545
• 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

+5.4% since first listed

10 events — show timeline

• 2026-04-27 Price Changed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-21 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-19 Coming Soon $200,000 CANOPYMLS as Distributed by MLS Grid
• 2023-07-26 Sold (Public Records) $165,000 Public Records
• 2023-07-25 Sold (MLS) $165,000 CANOPYMLS as Distributed by MLS Grid
• 2023-06-04 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-06-02 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2023-05-26 Pending — CANOPYMLS as Distributed by MLS Grid
• 2023-05-16 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2023-04-22 Listed $185,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $1,635 · +5.8% YoY. Source: county tax records.