35 Second St · Marion, NC 28752

$200,000

3 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 41 Days on market

Built 1910 0.47 ac lot Est $278k · 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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED!! With an inviting front porch this well loved older home is conveniently located close to downtown. There are wood floors and high ceilings throughout much of home. Other features include a large LR and DR, kitchen with new countertops and stainless sink, 3 bedrooms. Large bath has been recently updated and has a linen closet. Laundry room has had a new half bath added in past few weeks! Other special features include: some new lighting; new railing at back steps and side front porch; some exterior vinyl siding added; outside entry is handicapped accessible from driveway; second concrete drive leads to handy workshop space; large metal storage building with 2 garage doors in backyard. Good level lot with plenty of room for kids to play or perfect for a garden spot!

Key facts

• Covered front porch
• Heat pump
• 0.47 acre lot

Tags

• COVERED FRONT PORCH
• ORIGINAL HARDWOOD FLOORING
• DETACHED STORAGE SHED
• TWO CONCRETE DRIVEWAYS
• HEAT PUMP

Property features AI

Finance

• Other: Zoning: R-2
• HOA & community: No HOA

Exterior

• Parking: Driveway and on-street parking; 2 open parking spaces
• Utilities: City water; Public sewer; Electricity connected; Cable available
• Home design: Single-family residence; Site-built construction; One story
• Construction: Aluminum exterior; Other roof (see remarks); Crawl space foundation
• Exterior features: Front porch; Shed(s); Roads are concrete and paved; Publicly maintained road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Wood flooring; Linoleum flooring
• Bathrooms: 1 full bath on the main level; 1 half bath on the main level
• Heating & cooling: Central heating; Heat pump (heating and cooling); Central air
• Interior features: 5 total rooms; Storm doors; Fireplace
• Laundry & utility: Washer and dryer hookups; Electric dryer hookup; Laundry sink; Laundry located on the main level, inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $99 ($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 $187k (6.3% below list).
• Recommended offer: $187k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.2% in Marion — 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 72/100 on livability (#93 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Mcdowell County Schools (rural): math 35% / reading 46% proficiency, ranked #115 of 178 in NC (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastfield Global Magnet School (math 37% / reading 37%, grade F, #771 of 1,410 statewide, top 57%, 266 students, 84% FRL); East Mcdowell Middle School (math 27% / reading 40%, grade F, #299 of 475 statewide, top 64%, 468 students, 78% FRL); Mcdowell High School (math 50% / reading 57%, grade C-, #279 of 535 statewide, top 52%, 1,416 students, 60% FRL) — zoned schools average 74% FRL vs 58% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 267 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 175 units permitted in McDowell County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• McDowell County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $74k; list at $200k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,461 (6.3% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.94% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $277,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 3rd St #98	0.06mi	3/2.0	1,547 (+12%)	8mo	$249,000	$161	66
17 3rd St	0.06mi	4/1.0 (+1)	1,536 (+12%)	8mo	$238,000	$155	66
622 Miller Ave	0.26mi	3/2.0	1,289 (-6%)	10mo	$269,900	$209	65
620 Miller Ave	0.26mi	3/2.0	1,289 (-6%)	10mo	$260,000	$202	65
103 Clark St	0.61mi	2/2.0 (-1)	1,379 (+0%)	1mo	$200,000	$145	62
72 Alabama Ave	0.50mi	3/2.0	1,354 (-2%)	15mo	$334,900	$247	58
145 6th Em St	0.19mi	2/1.0 (-1)	1,232 (-10%)	14mo	$178,000	$144	57
165 Miller Ave	0.51mi	3/2.0	1,383 (+0%)	18mo	$225,000	$163	56
466 Miller Ave	0.32mi	2/2.0 (-1)	1,472 (+7%)	18mo	$367,000	$249	50
61 Perry St	0.42mi	2/1.0 (-1)	1,227 (-11%)	11mo	$155,000	$126	48
116 Bostic St	0.53mi	3/2.5	1,210 (-12%)	2mo	$316,000	$261	48
331 Haven Ridge Ln N	0.74mi	3/2.0	1,484 (+8%)	7mo	$314,900	$212	42

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-26,089
• Equity at exit: $29,821

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-14,501
• Equity at exit: $17,292

Cash invested: $56,000 (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 28752

• Active inventory: 267
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,875 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $99

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 90%

Sensitivity live

Price	-10% $237	-5% $168	+0% $99	+5% $30	+10% $-39
Rent	-10% $-49	-5% $25	+0% $99	+5% $173	+10% $247
Rate	-1.0pp $200	-0.5pp $150	base $99	+0.5pp $47	+1.0pp $-6

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 Baldwin Ave Marion, NC	3.0	2.0	1194	$1,950	$1.63	23d	1	0.22mi
75 Laurelwood Dr #69 Marion, NC	2.0	1.5	1054	$1,300	$1.23	15d	1	1.50mi

Listing history 20 events

1. 2026-06-22
   days on market $200,000 Active 41 DOM
2. 2026-06-19
   days on market $200,000 Active 39 DOM
3. 2026-06-18
   days on market $200,000 Active 38 DOM
4. 2026-06-17
   days on market $200,000 Active 37 DOM
5. 2026-06-16
   days on market $200,000 Active 36 DOM
6. 2026-06-15
   days on market $200,000 Active 35 DOM
7. 2026-06-14
   days on market $200,000 Active 33 DOM
8. 2026-06-13
   days on market $200,000 Active 32 DOM
9. 2026-06-10
   days on market $200,000 Active 30 DOM
10. 2026-06-09
    days on market $200,000 Active 29 DOM
11. 2026-06-08
    days on market $200,000 Active 28 DOM
12. 2026-06-07
    statusdays on market $200,000 Active 27 DOM
13. 2026-06-02
    days on market $200,000 Active Under Contract 22 DOM
14. 2026-06-01
    days on market $200,000 Active Under Contract 21 DOM
15. 2026-05-31
    days on market $200,000 Active Under Contract 20 DOM
16. 2026-05-30
    days on market $200,000 Active Under Contract 19 DOM
17. 2026-05-11
    listed $200,000 Active
18. 2014-05-06
    soldstatus $74,000 784-char remark

    Show marketing remark (784 chars)

    REDUCED!! With an inviting front porch this well loved older home is conveniently located close to downtown. There are wood floors and high ceilings throughout much of home. Other features include a large LR and DR, kitchen with new countertops and stainless sink, 3 bedrooms. Large bath has been recently updated and has a linen closet. Laundry room has had a new half bath added in past few weeks! Other special features include: some new lighting; new railing at back steps and side front porch; some exterior vinyl siding added; outside entry is handicapped accessible from driveway; second concrete drive leads to handy workshop space; large metal storage building with 2 garage doors in backyard. Good level lot with plenty of room for kids to play or perfect for a garden spot!

19. 2014-05-06
    soldstatus $74,000

    Show marketing remark (784 chars)

    REDUCED!! With an inviting front porch this well loved older home is conveniently located close to downtown. There are wood floors and high ceilings throughout much of home. Other features include a large LR and DR, kitchen with new countertops and stainless sink, 3 bedrooms. Large bath has been recently updated and has a linen closet. Laundry room has had a new half bath added in past few weeks! Other special features include: some new lighting; new railing at back steps and side front porch; some exterior vinyl siding added; outside entry is handicapped accessible from driveway; second concrete drive leads to handy workshop space; large metal storage building with 2 garage doors in backyard. Good level lot with plenty of room for kids to play or perfect for a garden spot!

20. 2013-09-15
    listed $74,900 784-char remark

    Show marketing remark (784 chars)

    REDUCED!! With an inviting front porch this well loved older home is conveniently located close to downtown. There are wood floors and high ceilings throughout much of home. Other features include a large LR and DR, kitchen with new countertops and stainless sink, 3 bedrooms. Large bath has been recently updated and has a linen closet. Laundry room has had a new half bath added in past few weeks! Other special features include: some new lighting; new railing at back steps and side front porch; some exterior vinyl siding added; outside entry is handicapped accessible from driveway; second concrete drive leads to handy workshop space; large metal storage building with 2 garage doors in backyard. Good level lot with plenty of room for kids to play or perfect for a garden spot!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,495
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$5,818
• Taxable loss: −$2,125
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $1,695/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: Mcdowell County Schools
• NCES district ID: 3702940
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $36,769
• Composite: 33.6/100
• National rank: #5413
• State rank: #115 of 178 in NC

Livability — Marion

• Score: 72/100
• State rank: #93
• US rank: #6157

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, NC
• City population: 30,602
• Population (ZIP): 30,602

Population outlook (McDowell County) Hauer SSP2

• Today (2025): 44,615 people
• By 2030: 44,002 · -1.4%
• By 2040: 42,285 · -5.2%
• By 2050: 39,906 · -10.6%
• By 2075: 34,396 · -22.9%
• By 2100: 27,970 · -37.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 5% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 4% Slovak 2% Iranian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 8% German/W. Germanic 1% Vietnamese 1%

Political lean MEDSL · McDowell

• 2024 margin: Solid R (+49.2) · D 25.1% · R 74.2%
• 2008→2024 swing: -22.2pp toward R · 2008: -27.0pp · 2024: -49.2pp
• All cycles: 2024: R+49.2 2020: R+48.0 2016: R+50.5 2012: R+31.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.41%
• Current HPI: 182.9225
• 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

+167.0% since first listed

4 events — show timeline

• 2026-05-11 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2014-05-06 Sold (Public Records) $74,000 Public Records
• 2014-05-06 Sold (MLS) $74,000 CANOPYMLS as Distributed by MLS Grid
• 2013-09-15 Listed $74,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $241 · +0.0% YoY. Source: county tax records.