171 Brook Creek Dr · Troutman, NC 28166

$278,500

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 30 Days on market

Built 2021 0.57 ac lot Est $319k · 13% under

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Why this score? — see what drove the D 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 +13.2/15.0
• Cash flow +12.3/30.0
• Schools +4.5/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained one-story 3 bedroom 2 bathroom home, built in 2021 and cared for by its original owner. Thoughtfully designed for modern living, this home offers a bright open-concept layout anchored by a spacious kitchen that serves as the heart of the home, perfect for entertaining, gathering, or everyday comfort. Natural light fills the main living areas, creating a warm and inviting atmosphere throughout. The single-level floor plan adds ease and functionality, making this home ideal for a wide range of lifestyles. Step outside to enjoy the large backyard featuring a concrete patio, offering the perfect space for kids to play, hosting friends and family, outdoor d

Key facts

• 0.57 acre lot
• 2 parking spots
• Built 2021

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport (2 spaces); Driveway
• Utilities: Well water; Septic system
• Home design: Manufactured doublewide single-family residence; One level; Completed development
• Construction: Manufactured construction; Vinyl exterior; Crawl space foundation
• Exterior features: Deck; Front porch; Patio; Back yard fence; Asphalt/paved road; publicly maintained; Lot approximately 0.57 acres

Interior

• Kitchen: Dishwasher; Electric oven; Microwave
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: 8 total rooms; Mud room
• Laundry & utility: Washer/Dryer; Main level laundry (mud room)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $278k.

Deal economics

• At list price, monthly cash flow is $-49 ($-587/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (25.7% below list).
• Recommended offer: $207k (25.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.2% in Troutman — 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 64/100 on livability (#342 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Troutman Elementary (math 63% / reading 44%, grade C, #335 of 1,410 statewide, top 24%, 698 students, 54% FRL); South Iredell High (math 47% / reading 72%, grade C+, #216 of 535 statewide, top 43%, 1,711 students, 34% FRL).
• Market conditions: Rents rising (+2.1%/yr); 249 active listings in the ZIP; solid renter incomes; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($274k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $278k implies a 99% gain — meaningful room to come down on a strong offer.

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 $207,052 (25.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.74% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $318,816
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
153 Brook Creek Dr	0.04mi	3/2.0	1,275 (-2%)	11mo	$322,000	$253	86
169 Ridge Creek Dr	0.12mi	3/2.0	1,313 (+1%)	23mo	$290,000	$221	73
144 Ridge Creek Dr	0.17mi	3/2.0	1,446 (+12%)	8mo	$280,000	$194	66
112 Brook Creek Dr	0.16mi	3/2.5	1,446 (+12%)	13mo	$309,900	$214	60
105 W Panther Creek Rd	0.29mi	3/2.0	1,375 (+6%)	21mo	$285,000	$207	59
118 Alfara Ln	0.66mi	3/2.0	1,319 (+2%)	12mo	$375,000	$284	56
125 Grafton Pl	0.64mi	3/2.0	1,424 (+10%)	2mo	$350,000	$246	52
128 Farmdale Dr	0.66mi	3/2.0	1,433 (+11%)	7mo	$352,151	$246	46

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 · 2.13% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-50,159
• Equity at exit: $41,525

10-year hold

• IRR: -12.5%
• Equity multiple: 0.29×
• Total profit: $-55,409
• Equity at exit: $24,080

Cash invested: $77,980 (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 28166

• Home prices YoY: -23.7%
• Rents YoY: 2.1%
• Active inventory: 249
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,071 medium
• Mortgage (P&I): −$1,460
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-49

Break-even live

Break-even rent $2,132

Max offer price $269,855

Occupancy floor 97%

Sensitivity live

Price	-10% $109	-5% $30	+0% $-49	+5% $-128	+10% $-207
Rent	-10% $-213	-5% $-131	+0% $-49	+5% $33	+10% $115
Rate	-1.0pp $91	-0.5pp $22	base $-49	+0.5pp $-121	+1.0pp $-195

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: $69,625
• Closing costs: $8,355
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $278,500 Active 30 DOM
2. 2026-06-17
   days on market $278,500 Active 29 DOM
3. 2026-06-16
   days on market $278,500 Active 28 DOM
4. 2026-06-15
   days on market $278,500 Active 27 DOM
5. 2026-06-13
   days on market $278,500 Active 25 DOM
6. 2026-06-13
   days on market $278,500 Active 24 DOM
7. 2026-06-09
   days on market $278,500 Active 21 DOM
8. 2026-06-08
   days on market $278,500 Active 20 DOM
9. 2026-06-07
   days on market $278,500 Active 19 DOM
10. 2026-06-04
    days on market $278,500 Active 16 DOM
11. 2026-06-03
    days on market $278,500 Active 15 DOM
12. 2026-06-02
    days on market $278,500 Active 14 DOM
13. 2026-06-01
    days on market $278,500 Active 13 DOM
14. 2026-05-31
    days on market $278,500 Active 12 DOM
15. 2026-05-20
    listed $278,500 Active
16. 2026-05-18
    historical $278,500
17. 2020-09-04
    soldstatus $140,000
18. 2015-12-04
    soldstatus $125,000

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $2,284 · $190/mo
• Expected delta: +$986/yr (+$82/mo · 76.0%)

ⓘ 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 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,846
• − Mortgage interest: −$15,600
• − Property taxes: −$1,297
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$8,102
• Taxable loss: −$5,521
• Est. tax savings @ 24.0%: +$1,325
• After-tax cash flow: $738/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Troutman

• Score: 64/100
• State rank: #342
• US rank: #13725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 11,875
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 11,875
• Household income: $93,511
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 167.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Hispanic / Latino 6% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 1%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.32%
• Current HPI: 229.5993
• Rent YoY: ▲ 2.13%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+122.8% since first listed

4 events — show timeline

• 2026-05-20 Listed $278,500 CANOPYMLS as Distributed by MLS Grid
• 2026-05-18 Coming Soon $278,500 CANOPYMLS as Distributed by MLS Grid
• 2020-09-04 Sold (Public Records) $140,000 Public Records
• 2015-12-04 Sold (Public Records) $125,000 Public Records

Property tax history

+34.7%/yr

Latest (2025): $1,297 · +0.0% YoY. Source: county tax records.