614 S Ashe Ave · Newton, NC 28658

$178,500

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 109 Days on market

Built 1948 7,405 sqft lot Est $152k · 17% over

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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).

• Cash flow +15.0/30.0
• DSCR +4.6/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming two-bedroom, one-bath brick bungalow offering comfortable one level living space. Conveniently located within walking distance of downtown Newton, you’ll enjoy easy access to shopping, dining, schools, and a nearby park. Quick connections to NC Highway 16 and Highway 321 make commuting a breeze. With city utilities and a prime in-town location, this home is an excellent opportunity for a starter home, investment property or downsizing. Some photos virtually staged.

Key facts

• Brick bungalow
• Nearby park
• One level living

Tags

• BRICK BUNGALOW
• ONE LEVEL LIVING
• WALKING DISTANCE TO DOWNTOWN
• EASY ACCESS TO SHOPPING
• NEARBY PARK
• PRIME IN-TOWN LOCATION

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; One story
• Construction: Exterior clad in aluminum, full brick, and vinyl; Crawl space foundation
• Exterior features: Covered patio/porch; Level lot; Roads are gravel and paved; publicly maintained

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 7 total rooms; Living room fireplace (wood-burning or gas not specified)
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $57 ($686/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 $147k (17.9% below list).
• Recommended offer: $147k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.9% in Newton — 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 73/100 on livability (#77 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Newton Conover City Schools (suburban): math 49% / reading 47% proficiency, ranked #74 of 178 in NC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Newton Elementary (math 37% / reading 32%, grade F, #835 of 1,410 statewide, top 62%, 350 students, 75% FRL); Newton-Conover Middle (math 43% / reading 48%, grade D+, #154 of 475 statewide, top 33%, 603 students, 65% FRL); Newton-Conover High (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 758 students, 59% FRL).
• Market conditions: 229 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $5k 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 109 days — a 9% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $87k; list at $178k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $146,557 (17.9% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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 D 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. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $152,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 S Ashe Ave	0.00mi	2/1.0	984 (+10%)	1mo	$167,500	$170	83
1051 S Brady Ave	0.52mi	2/1.5	930 (+4%)	12mo	$205,000	$220	58
306 E Herman St	0.29mi	3/1.0 (+1)	955 (+7%)	17mo	$107,000	$112	57
317 S Cline Ave	0.26mi	3/2.0 (+1)	950 (+6%)	18mo	$199,000	$209	54
504 N Spring Ave	0.74mi	2/1.0	946 (+6%)	5mo	$167,000	$177	52
615 E Saunders Ave	0.74mi	2/1.0	850 (-5%)	15mo	$60,000	$71	44
216 N Brady Ave	0.66mi	2/1.0	772 (-14%)	2mo	$48,750	$63	44
621 E A St	0.73mi	2/1.0	784 (-12%)	2mo	$154,000	$196	44
10 N Davis Ave	0.69mi	3/1.0 (+1)	850 (-5%)	13mo	$40,000	$47	43
400 S Forney Ave	0.39mi	3/1.0 (+1)	1,021 (+14%)	16mo	$135,000	$132	41
127 S Caldwell Ave	0.61mi	3/1.0 (+1)	1,000 (+12%)	11mo	$102,000	$102	38
608 E E St	0.59mi	3/2.0 (+1)	1,018 (+14%)	10mo	$195,000	$192	32

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-25,346
• Equity at exit: $26,615

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-17,627
• Equity at exit: $15,433

Cash invested: $49,980 (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 28658

• Home prices YoY: -23.3%
• Active inventory: 229
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,466 medium
• Mortgage (P&I): −$936
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $57

Break-even live

Break-even rent $1,393

Max offer price $178,500

Occupancy floor 91%

Sensitivity live

Price	-10% $158	-5% $108	+0% $57	+5% $7	+10% $-44
Rent	-10% $-59	-5% $-1	+0% $57	+5% $115	+10% $173
Rate	-1.0pp $147	-0.5pp $103	base $57	+0.5pp $11	+1.0pp $-36

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: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 S Caldwell Ave Newton, NC	2.0	1.5	918	$1,575	$1.72	6d	1	0.55mi
1326 N Frye Ave Unit I Newton, NC	2.0	1.0	730	$1,150	$1.58	14d	1	1.32mi

Listing history 8 events

1. 2026-05-12
   status Pending
2. 2026-04-17
   price $178,500
3. 2026-02-28
   price $178,900
4. 2026-02-19
   status Active
5. 2026-02-10
   status Pending
6. 2026-02-04
   price $179,500
7. 2026-01-14
   listed $180,000 Active
8. 2021-02-17
   soldstatus $87,000

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$381/yr (+$32/mo · 35.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,587
• − Mortgage interest: −$9,999
• − Property taxes: −$1,083
• − Insurance: −$892
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$5,193
• Taxable loss: −$2,394
• Est. tax savings @ 24.0%: +$574
• After-tax cash flow: $1,260/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: Newton Conover City Schools
• NCES district ID: 3703360
• Math proficiency: 49% ▲ 11.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $39,491
• Composite: 40.13/100
• National rank: #3797
• State rank: #74 of 178 in NC

Livability — Newton

• Score: 73/100
• State rank: #77
• US rank: #5536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, NC
• Population (ZIP): 25,681

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Black 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 3% Tagalog/Filipino 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: ▼ -79.85%
• Current HPI: 262.8541
• 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

+105.2% since first listed

8 events — show timeline

• 2026-05-12 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $178,500 CANOPYMLS as Distributed by MLS Grid
• 2026-02-28 Price Changed $178,900 CANOPYMLS as Distributed by MLS Grid
• 2026-02-19 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-02-10 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-02-04 Price Changed $179,500 CANOPYMLS as Distributed by MLS Grid
• 2026-01-14 Listed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2021-02-17 Sold (Public Records) $87,000 Public Records

Property tax history

+4.4%/yr

Latest (2024): $1,083 · +0.0% YoY. Source: county tax records.