211 Roy Eaker Rd · Cherryville, NC 28021

$325,000

2 bd · 2.0 ba · 2,364 sqft · SingleFamily public records · 286 Days on market

Built 1956 0.60 ac lot Est $459k · 29% under ↓ 16% since listing

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Why this score? — see what drove the F 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 +15.0/15.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Cash flow +3.2/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This spacious brick ranch is located on a lovely lot in a quiet neighborhood, conveniently near the Cherryville Country Club and downtown. The home features a well-appointed kitchen with a breakfast area, a formal dining room with a brick fireplace, and a central living area with three bedrooms, one bathroom, a living room, and a large indoor laundry. A second attached wing, with a separate HVAC, offers a spacious den, a large bedroom, and an accessible bathroom with a roll-in shower. Outside, you’ll find a welcoming front porch with a concrete-accessible ramp and a covered rear deck with a concrete-accessible ramp leading to a large outbuilding. This outbuilding is wired and includes

Key facts

• Central living area
• Formal dining room
• Brick fireplace

Tags

• WELL-APPOINTED KITCHEN
• FORMAL DINING ROOM
• BRICK FIREPLACE
• CENTRAL LIVING AREA
• SPACIOUS DEN
• WELCOMING FRONT PORCH

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport; Driveway; Detached garage with 1 garage space; Carport with 2 carport spaces
• Utilities: City water; Public sewer; Electricity connected
• Home design: Single-family residence (site built); One story; R1 zoning
• Construction: Brick exterior (full); Composition roof; Crawl space foundation; Built on-site
• Exterior features: Covered patio/porch; Deck; Outbuilding on lot

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Four bedrooms on the main level
• Flooring: Carpet
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump cooling
• Interior features: Twelve total rooms; Fireplace (other — see remarks); Generator on property
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (55.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (59.7% below list).
• Recommended offer: $131k (59.7% below list) — sets the bar for 1% rule.
• Cap rate 2.5% vs local median 3.9% in Cherryville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 74/100 on livability (#59 in NC, #4,744 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cherryville Elementary (math 52% / reading 37%, grade F, #574 of 1,410 statewide, top 43%, 383 students, 67% FRL); John Chavis Middle School (math 43% / reading 38%, grade F, #215 of 475 statewide, top 46%, 413 students, 70% FRL); Cherryville High (math 62% / reading 57%, grade C+, #216 of 535 statewide, top 43%, 492 students, 59% FRL) — zoned schools average 65% FRL vs 37% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 128 active listings in the ZIP; 2,069 units permitted in Gaston County in 2024 (142 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 $10k of value loss. Plan a longer hold.
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $64k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $130,851 (59.7% 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. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.40% ✗
• Cap rate: 2.53%
• Cash-on-cash: -13.43%
• DSCR: 0.40
• GRM: 20.7

CMA / ARV

• ARV (on-the-fly): $458,616
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Farmwood Dr	0.20mi	3/2.0 (+1)	2,114 (-11%)	0mo	$410,000	$194	68
543 Roy Eaker Rd	0.58mi	3/3.0 (+1)	2,033 (-14%)	8mo	$569,000	$280	34
100 S Rudisill Ave	0.74mi	3/2.0 (+1)	2,057 (-13%)	11mo	$263,500	$128	30

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: -41.6%
• Equity multiple: -0.29×
• Total profit: $-117,618
• Equity at exit: $48,459

10-year hold

• IRR: -70.1%
• Equity multiple: -1.05×
• Total profit: $-186,335
• Equity at exit: $28,100

Cash invested: $91,000 (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 28021

• Home prices YoY: -20.8%
• Active inventory: 128
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $1,309 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$212 /mo · $2,547/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-1,018

Break-even live

Break-even rent $2,597

Max offer price $145,117

Occupancy floor —

Sensitivity live

Price	-10% $-834	-5% $-926	+0% $-1,018	+5% $-1,110	+10% $-1,202
Rent	-10% $-1,122	-5% $-1,070	+0% $-1,018	+5% $-967	+10% $-915
Rate	-1.0pp $-855	-0.5pp $-936	base $-1,018	+0.5pp $-1,102	+1.0pp $-1,188

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-02
   status Pending
2. 2026-04-26
   historical Active Under Contract
3. 2026-04-17
   status Active
4. 2026-04-17
   status Active
5. 2026-03-27
   status Pending
6. 2026-02-28
   price $325,000
7. 2025-10-21
   price $360,000
8. 2025-10-21
   status Active
9. 2025-04-11
   historical Active Under Contract
10. 2025-03-13
    price $365,000
11. 2025-01-15
    listed $389,000 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: $2,547 · $212/mo
• Projected year-2 tax: $2,665 · $222/mo
• Expected delta: +$118/yr (+$10/mo · 4.6%)

ⓘ 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 6/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,702
• − Mortgage interest: −$18,205
• − Property taxes: −$2,547
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$9,455
• Taxable loss: −$18,642
• Est. tax savings @ 24.0%: +$4,474
• After-tax cash flow: $-7,745/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: Gaston County Schools
• NCES district ID: 3701620
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $43,644
• Composite: 36.39/100
• National rank: #4680
• State rank: #93 of 178 in NC

Livability — Cherryville

• Score: 74/100
• State rank: #59
• US rank: #4744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherryville, NC
• Population (ZIP): 13,668

Population outlook (Gaston County) Hauer SSP2

• Today (2025): 230,027 people
• By 2030: 237,300 · +3.2%
• By 2040: 249,659 · +8.5%
• By 2050: 257,806 · +12.1%
• By 2075: 272,163 · +18.3%
• By 2100: 268,652 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 3%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Gaston

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.1%
• 2008→2024 swing: 0.0pp no change · 2008: -25.0pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+27.8 2016: R+32.1 2012: R+25.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.53%
• Current HPI: 294.7695
• 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

-16.5% since first listed

11 events — show timeline

• 2026-05-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-26 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-27 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-02-28 Price Changed $325,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $360,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-21 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-04-11 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-03-13 Price Changed $365,000 CANOPYMLS as Distributed by MLS Grid
• 2025-01-15 Listed $389,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $2,547 · +0.0% YoY. Source: county tax records.