515 26th St SW · Long View, NC 28602

$199,900

3 bd · 1.0 ba · 1,103 sqft · SingleFamily public records · 78 Days on market

Built 1925 0.26 ac lot Est $200k · at est. ↓ 11% since listing

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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 +13.7/30.0
• ARV discount +7.4/15.0
• DSCR +4.1/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 Bedroom, 2 Bath Home with Classic Charm and Modern Finishes. Welcome to this move-in ready home offering the perfect blend of character and updates. Featuring 3 spacious bedrooms and 2 full bathrooms, this freshly painted home shines with refinished pine hardwood floors and new stainless steel appliances in the kitchen. You'll love the large, light-filled rooms, ideal for both everyday living and entertaining. The open layout flows nicely, while the classic details add warmth and charm throughout. Whether you're enjoying quiet evenings at home or hosting guests, this home offers comfort, style, and space. Highlights include: • 3 Bedrooms, 2 Full Baths • Fresh interior paint thro

Key facts

• Modern kitchen
• 0.26 acre lot
• Built 1925

Tags

• NEW STAINLESS STEEL APPLIANCES
• MODERN KITCHEN

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City water; Public sewer; Cable connected; Electricity connected; Wired internet available
• Home design: Single family residence; Site-built home; One story; Zoned R-4
• Construction: Aluminum exterior; Composition roof; Crawl space foundation
• Exterior features: Covered front porch; Cleared, level lot; Roads are a mix of gravel and paved; publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: 8 total rooms; No additional interior features listed
• Laundry & utility: Laundry located in hall

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 $15 ($181/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 $157k (21.4% below list).
• Recommended offer: $157k (21.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#416 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, commute F, employment F.
• Hickory City Schools (urban): math 43% / reading 44% proficiency, ranked #95 of 178 in NC (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hickory High (math 44% / reading 56%, grade D+, #309 of 535 statewide, top 58%, 1,014 students, 62% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 212 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).
• This rent runs 30% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 78 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $157,203 (21.4% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $199,643
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2603 5th Ave SW	0.03mi	3/1.0	1,032 (-6%)	2mo	$179,000	$173	86
537 32nd St SW	0.48mi	3/1.0	1,086 (-2%)	1mo	$189,900	$175	74
403 27th Street Pl SW	0.12mi	3/2.0	1,200 (+9%)	8mo	$160,000	$133	69
2616 Main Ave Dr NW	0.52mi	3/2.0	1,150 (+4%)	2mo	$235,000	$204	63
60 28th St NW	0.54mi	3/1.0	1,152 (+4%)	10mo	$160,000	$139	59
3119 6th Ave SW	0.43mi	3/1.5	1,179 (+7%)	10mo	$225,000	$191	58
3120 6th Ave SW	0.43mi	3/1.0	984 (-11%)	6mo	$190,000	$193	57
315 21st St SW	0.53mi	3/2.0	1,175 (+6%)	7mo	$250,000	$213	54
2145 14th Ave SW	0.70mi	3/1.0	1,008 (-9%)	4mo	$182,000	$181	50
1345 28th St SW	0.70mi	2/1.0 (-1)	1,172 (+6%)	5mo	$99,000	$84	48
2842 1st Ave NW	0.66mi	2/2.0 (-1)	1,008 (-9%)	5mo	$189,900	$188	42
925 37th St SW	0.73mi	3/1.5	1,250 (+13%)	10mo	$200,000	$160	34

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-29,646
• Equity at exit: $29,806

10-year hold

• IRR: -4.4%
• Equity multiple: 0.70×
• Total profit: $-17,069
• Equity at exit: $17,284

Cash invested: $55,972 (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 28602

• Home prices YoY: -13.6%
• Rents YoY: 4.2%
• Active inventory: 212
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,572 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$95 /mo · $1,143/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $15

Break-even live

Break-even rent $1,553

Max offer price $199,900

Occupancy floor 94%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
823 31st St SW Hickory, NC	3.0	2.5	1335	$1,775	$1.33	21d	1	0.38mi
130 18th St SW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	21d	1	0.77mi
522 17th St SW Hickory, NC	2.0	1.0	750	$800	$1.07	21d	1	0.80mi
128 18th Street Pl NW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	21d	1	0.95mi
1131 3rd Ave SW Hickory, NC	2.0	1.5	1024	$1,100	$1.07	13d	1	1.40mi

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-03-29
   price $199,900
3. 2026-02-23
   listed $225,000 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: $1,143 · $95/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$497/yr (+$41/mo · 43.5%)

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

Taxation est. · year 1

• Rental income: $18,864
• − Mortgage interest: −$11,198
• − Property taxes: −$1,143
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$5,815
• Taxable loss: −$3,309
• Est. tax savings @ 24.0%: +$794
• After-tax cash flow: $975/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: Hickory City Schools
• NCES district ID: 3702190
• Math proficiency: 43% ▲ 2.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $38,399
• Composite: 36.29/100
• National rank: #4700
• State rank: #95 of 178 in NC

Livability — Long View

• Score: 63/100
• State rank: #416
• US rank: #15606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long View, NC
• County: Catawba County · 105,763 people
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 31,113
• Household income: $62,048
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 642.0

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 (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 10% Two or more races 7% Asian 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 3% Italian 3% Iranian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 88% English-only · Spanish 7% Other Asian/Pacific 4%

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: ▼ -41.01%
• Current HPI: 259.947
• Rent YoY: ▲ 4.16%
• Metro: Hickory-Lenoir-Morganton, NC
• 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

-11.2% since first listed

3 events — show timeline

• 2026-05-12 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-03-29 Price Changed $199,900 CANOPYMLS as Distributed by MLS Grid
• 2026-02-23 Listed $225,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2024): $1,143 · +0.0% YoY. Source: county tax records.