112 Glenn Oaks Dr · Fallston, NC 28090

$229,900

3 bd · 2.0 ba · 1,428 sqft · SingleFamily public records · 15 Days on market

Built 1976 0.49 ac lot Est $256k · 10% 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).

• Cash flow +15.5/30.0
• ARV discount +12.0/15.0
• DSCR +4.8/10.0
• Schools +4.0/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Town of lawndale
• Fireplace in the den
• No hoa

Tags

• FIREPLACE IN THE DEN
• NO HOA
• TOWN OF LAWNDALE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Well water; Septic system
• Home design: Single-family residence; One-story (one level); Site-built construction
• Construction: Partial brick and vinyl exterior; Crawl space foundation
• Exterior features: Private maintained road; Gravel road access

Interior

• Kitchen: Dishwasher; Electric oven
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Fireplace; One main-level room (approx. 11'4" x 11'2"); Total room count: 1
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $94 ($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 $188k (18.2% below list).
• Recommended offer: $188k (18.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#532 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A; Watch: housing D+, crime F, amenities F.
• Cleveland County Schools (rural): math 47% / reading 49% proficiency, ranked #76 of 178 in NC (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fallston Elementary (math 46% / reading 45%, grade D-, #562 of 1,410 statewide, top 40%, 456 students, 99% FRL); Burns Middle (math 53% / reading 54%, grade C+, #87 of 475 statewide, top 19%, 734 students, 70% FRL); Burns High (math 42% / reading 59%, grade D+, #306 of 535 statewide, top 57%, 934 students, 60% FRL) — zoned schools average 76% FRL vs 59% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 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 $7k of value loss. Plan a longer hold.
• Cleveland County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $125k; list at $230k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,030 (18.2% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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?
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: 0.82% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $255,612
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 Wilson Dr	0.12mi	3/2.0	1,455 (+2%)	1mo	$260,000	$179	91
125 Gatewood Dr	0.51mi	3/2.0	1,560 (+9%)	22mo	$162,734	$104	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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-31,352
• Equity at exit: $34,279

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-19,959
• Equity at exit: $19,878

Cash invested: $64,372 (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 28090

• Home prices YoY: -3.4%
• Active inventory: 39
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,880 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $94

Break-even live

Break-even rent $1,761

Max offer price $229,900

Occupancy floor 90%

Sensitivity live

Price	-10% $224	-5% $159	+0% $94	+5% $29	+10% $-36
Rent	-10% $-54	-5% $20	+0% $94	+5% $168	+10% $243
Rate	-1.0pp $210	-0.5pp $153	base $94	+0.5pp $35	+1.0pp $-26

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-22
   days on market $229,900 Active 15 DOM
2. 2026-06-19
   days on market $229,900 Active 13 DOM
3. 2026-06-18
   days on market $229,900 Active 12 DOM
4. 2026-06-17
   days on market $229,900 Active 11 DOM
5. 2026-06-16
   days on market $229,900 Active 10 DOM
6. 2026-06-15
   days on market $229,900 Active 9 DOM
7. 2026-06-14
   days on market $229,900 Active 7 DOM
8. 2026-06-13
   days on market $229,900 Active 6 DOM
9. 2026-06-10
   days on market $229,900 Active 4 DOM
10. 2026-06-09
    days on market $229,900 Active 3 DOM
11. 2026-06-08
    days on market $229,900 Active 2 DOM
12. 2026-06-07
    listed $229,900 Active 1 DOM

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $1,885 · $157/mo
• Expected delta: +$806/yr (+$67/mo · 74.7%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $22,564
• − Mortgage interest: −$12,878
• − Property taxes: −$1,079
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,805
• − Management: −$1,805
• − Depreciation: −$6,688
• Taxable loss: −$2,841
• Est. tax savings @ 24.0%: +$682
• After-tax cash flow: $1,811/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: Cleveland County Schools
• NCES district ID: 3700900
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 49% ▲ 4.00%
• Median HH income: $38,501
• Composite: 40.03/100
• National rank: #3823
• State rank: #76 of 178 in NC

Livability — Fallston

• Score: 59/100
• State rank: #532
• US rank: #19660

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 306
• Population (ZIP): 7,422

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 93,671 people
• By 2030: 91,157 · -2.7%
• By 2040: 85,519 · -8.7%
• By 2050: 79,708 · -14.9%
• By 2075: 68,317 · -27.1%
• By 2100: 57,145 · -39.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 12% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: Solid R (+35.0) · D 32.2% · R 67.2%
• 2008→2024 swing: -15.1pp toward R · 2008: -19.9pp · 2024: -35.0pp
• All cycles: 2024: R+35.0 2020: R+32.8 2016: R+30.6 2012: R+20.5 2008: R+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.65%
• Current HPI: 335.97
• 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

+83.9% since first listed

2 events — show timeline

• 2026-06-06 Listed $229,900 CANOPYMLS as Distributed by MLS Grid
• 2015-12-10 Sold (Public Records) $125,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,079 · +17.0% YoY. Source: county tax records.