1007 S Church St · Salisbury, NC 28144

$159,900

3 bd · 2.0 ba · 1,290 sqft · SingleFamily public records · 77 Days on market

Built 1945 4,356 sqft lot Est $236k · 32% under ↓ 6% since listing

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and full of character, this inviting Salisbury home offers a warm and welcoming feel from the moment you arrive. Set on a tree-lined lot, the home features classic curb appeal with a covered front porch that creates the perfect spot to relax and enjoy the surrounding neighborhood. Inside, you’ll find spacious living areas filled with natural light and a comfortable, easy-flow layout. The main living room offers a cozy atmosphere with plenty of room to gather, while the adjoining dining area connects seamlessly to the kitchen, creating a functional space for everyday living. The kitchen showcases extra wood cabinetry and generous workspace, blending charm with practicality. Th

Key facts

• Covered front porch
• Flexible spaces
• Covered patio

Tags

• TREE LINED LOT
• COVERED FRONT PORCH
• EXTRA WOOD CABINETRY
• GENEROUS WORKSPACE
• FLEXIBLE SPACES
• COVERED PATIO

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport (1 car); Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential home; One story; Crawl space foundation
• Construction: Site-built construction; Hardboard siding and vinyl exterior; Composition roof
• Exterior features: Covered front porch and patio; Level, partly wooded lot; Concrete and paved roads, publicly maintained

Interior

• Kitchen: Electric range; Exhaust hood; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Linoleum; Tile; Wood
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Electric heating; Natural gas heating; Central air; Ceiling fan(s); Wall and window air units
• Interior features: Open room flow with 8 total rooms; Living room fireplace
• Laundry & utility: Laundry located in the kitchen on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/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 (1.7% below list).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.2% in Salisbury — 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 64/100 on livability (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salisbury High (math 27% / reading 47%, grade F, #414 of 535 statewide, top 79%, 959 students, 66% FRL).
• Market conditions: 291 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 36% of the median local income ($53k/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 $5k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 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 1945 — 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. 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?
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: 0.98% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $236,070
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Crawford St	0.19mi	3/2.0	1,304 (+1%)	4mo	$245,000	$188	86
513 Lincolnton Rd	0.23mi	3/2.0	1,232 (-4%)	3mo	$220,000	$179	80
201 W Mccubbins St	0.19mi	2/1.0 (-1)	1,311 (+2%)	0mo	$170,000	$130	79
7 Cooper St	0.35mi	3/2.0	1,200 (-7%)	3mo	$237,000	$198	70
1013 Locke St	0.53mi	3/2.0	1,326 (+3%)	3mo	$242,500	$183	68
9 Cooper St	0.34mi	3/2.5	1,399 (+8%)	4mo	$260,000	$186	64
406 Grace St	0.59mi	3/2.0	1,250 (-3%)	5mo	$229,000	$183	63
406 S Shaver St	0.71mi	3/1.5	1,282 (-1%)	3mo	$137,050	$107	61
120 Mitchell St	0.28mi	3/2.0	1,110 (-14%)	3mo	$214,900	$194	61
915 Lincolnton Rd	0.64mi	2/1.5 (-1)	1,239 (-4%)	3mo	$207,000	$167	54
1418 Crosby St	0.43mi	2/1.5 (-1)	1,125 (-13%)	2mo	$178,000	$158	50
1617 3rd St	0.59mi	2/1.0 (-1)	1,395 (+8%)	3mo	$205,000	$147	48

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-10,365
• Equity at exit: $23,842

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $10,874
• Equity at exit: $13,825

Cash invested: $44,772 (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 28144

• Active inventory: 291
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,572 high
• Mortgage (P&I): −$839
• Tax from tax record: −$92 /mo · $1,103/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $245

Break-even live

Break-even rent $1,262

Max offer price $159,900

Occupancy floor 79%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 W McCubbins St Salisbury, NC	2.0	1.0	900	$1,050	$1.17	2d	1	0.21mi
1039 Old Plank Rd Salisbury, NC	2.0	1.0	923	$1,290	$1.40	23d	1	0.70mi
839 Carpenters Cir Salisbury, NC	3.0	2.0	1188	$1,560	$1.31	23d	1	0.80mi
201 E Innes St #204 Salisbury, NC	2.0	2.0	912	$1,650	$1.81	23d	1	0.82mi
100 Emerson Ln Salisbury, NC	2.0–3.0	2.0	1101	$1,242	$1.13	23d	1	1.12mi
210 Sunset Dr Salisbury, NC	1.0–2.0	1.0–2.0	1018	$1,475	$1.45	23d	1	1.20mi
200 Hamilton Dr Salisbury, NC	3.0	1.0–2.0	750	$1,510	$2.01	1d	18	1.20mi
321 Woodson St Salisbury, NC	1.0–3.0	1.0–2.5	1091	$1,625	$1.49	12d	13	1.24mi
718 Park Ave Salisbury, NC	3.0	2.0	1199	$1,700	$1.42	17d	1	1.29mi
237 Century Dr Salisbury, NC	3.0	2.5	1500	$1,475	$0.98	4d	1	1.29mi
706 N Main St Salisbury, NC	3.0	2.0	1176	$1,700	$1.45	17d	1	1.33mi
808 Crown Point Dr Salisbury, NC	3.0	2.5	1500	$1,830	$1.22	23d	1	1.48mi
202 N Merritt Ave Salisbury, NC	3.0	1.5	1591	$1,495	$0.94	20d	1	1.49mi
816 Crown Point Dr Salisbury, NC	3.0	3.0	1500	$3,500	$2.33	23d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $159,900 Active 77 DOM
2. 2026-06-17
   days on market $159,900 Active 76 DOM
3. 2026-06-16
   days on market $159,900 Active 75 DOM
4. 2026-06-15
   days on market $159,900 Active 74 DOM
5. 2026-06-13
   days on market $159,900 Active 72 DOM
6. 2026-06-09
   days on market $159,900 Active 68 DOM
7. 2026-06-08
   days on market $159,900 Active 67 DOM
8. 2026-06-07
   days on market $159,900 Active 66 DOM
9. 2026-06-04
   days on market $159,900 Active 63 DOM
10. 2026-06-03
    days on market $159,900 Active 62 DOM
11. 2026-06-02
    days on market $159,900 Active 61 DOM
12. 2026-06-01
    days on market $159,900 Active 60 DOM
13. 2026-05-31
    days on market $159,900 Active 59 DOM
14. 2026-04-22
    price $159,900
15. 2026-04-02
    listed $169,900 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: $1,103 · $92/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$208/yr (+$17/mo · 18.9%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $18,863
• − Mortgage interest: −$8,957
• − Property taxes: −$1,103
• − Insurance: −$800
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$4,652
• Taxable income: $334
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $2,857/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 27,977
• Household income: $52,568
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1438.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 35% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.00%
• Current HPI: 276.1097
• Rent YoY: —
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

-5.9% since first listed

2 events — show timeline

• 2026-04-22 Price Changed $159,900 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Listed $169,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $1,103 · +0.0% YoY. Source: county tax records.