357 8th Avenue Dr SW · Hickory, NC 28602

$204,250

3 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 24 Days on market

Built 1947 7,840 sqft lot Est $218k · 6% 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 +15.4/30.0
• ARV discount +10.3/15.0
• DSCR +4.7/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 357 8th Avenue Dr SW in Hickory, a refreshed 3-bedroom, 1-bath home offering 1,442 sq. ft. and several meaningful updates buyers will appreciate. The home features a new roof completed in April 2026, new flooring, and fresh interior paint throughout, giving it a clean and move-in-ready feel. The kitchen has been updated with new cabinets, new sink, dishwasher, microwave, and stove, creating a bright and functional space for everyday living. The bathroom also includes a new vanity, toilet, tub, and surround. With important improvements already completed, this home is a great option for buyers looking for value, comfort, and convenience in Hickory. Agent related to seller. Schedule

Key facts

• New flooring
• New cabinets
• New sink

Tags

• NEW ROOF
• NEW FLOORING
• FRESH INTERIOR PAINT
• UPDATED KITCHEN
• NEW CABINETS
• NEW SINK

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer; Cable available; Electricity connected
• Home design: Single-family residential; One level
• Construction: Site-built construction; Vinyl exterior; Crawl space foundation
• Exterior features: Lot dimensions roughly 126 x 65 x 107 x 18 x 61; Roads are dirt, gravel and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Electric heating; Forced air; Heat pump; Central air; Ceiling fan(s)
• Interior features: 9 total rooms; Fireplace
• Laundry & utility: Utility room laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $77 ($926/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 $167k (18.2% below list).
• Recommended offer: $167k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.0% in Hickory — 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 71/100 on livability (#92 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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: Viewmont Elementary (math 32% / reading 33%, grade F, #897 of 1,410 statewide, top 64%, 530 students, 78% FRL); Grandview Middle (math 40% / reading 37%, grade F, #244 of 475 statewide, top 53%, 400 students, 78% FRL); Hickory High (math 44% / reading 56%, grade D+, #309 of 535 statewide, top 58%, 1,014 students, 62% FRL) — zoned schools average 73% FRL vs 57% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.2%/yr); 211 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 32% 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 24 days — a 2% lower offer ($201k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $167,085 (18.2% below list)

Questions for the listing agent

1. Built in 1947 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $217,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
932 3rd Street Pl SW	0.04mi	3/2.0	1,420 (+4%)	12mo	$200,000	$141	76
804 3rd Street Pl SW	0.11mi	3/2.5	1,270 (-7%)	4mo	$155,000	$122	74
760 3rd Street Pl SW	0.13mi	3/2.5	1,270 (-7%)	10mo	$180,000	$142	69
945 3rd Street Pl SW	0.08mi	3/2.0	1,217 (-10%)	13mo	$195,000	$160	64
432 4th Street Pl SW	0.46mi	3/2.0	1,303 (-4%)	12mo	$255,000	$196	58
836 7th Ave SW	0.61mi	3/2.0	1,261 (-7%)	3mo	$245,000	$194	53
331 5th Ave SE	0.73mi	3/1.5	1,334 (-2%)	11mo	$200,000	$150	51
1449 4th St SW	0.59mi	3/2.5	1,472 (+8%)	3mo	$258,000	$175	50
1231 2nd St SE	0.63mi	3/1.5	1,170 (-14%)	2mo	$190,000	$162	44
1177 2nd Street Pl SE	0.61mi	4/3.0 (+1)	1,486 (+9%)	4mo	$219,000	$147	40
713 3rd St SE	0.64mi	2/1.0 (-1)	1,215 (-11%)	10mo	$152,500	$126	39
737 8th St SW	0.52mi	4/2.0 (+1)	1,552 (+14%)	8mo	$270,000	$174	36

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-26,286
• Equity at exit: $30,454

10-year hold

• IRR: -2.1%
• Equity multiple: 0.85×
• Total profit: $-8,589
• Equity at exit: $17,660

Cash invested: $57,190 (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: 211
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$1,071
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $77

Break-even live

Break-even rent $1,573

Max offer price $204,250

Occupancy floor 90%

Sensitivity live

Price	-10% $193	-5% $135	+0% $77	+5% $19	+10% $-38
Rent	-10% $-55	-5% $11	+0% $77	+5% $143	+10% $209
Rate	-1.0pp $180	-0.5pp $129	base $77	+0.5pp $24	+1.0pp $-30

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: $51,062
• Closing costs: $6,128
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 8th Avenue Dr SE Hickory, NC	3.0	2.5	1298	$1,665	$1.28	15d	1	0.41mi
133 8th Avenue Dr SE Hickory, NC	3.0	2.5	1298	$1,695	$1.31	15d	1	0.43mi
183 8th Avenue Dr SE Hickory, NC	3.0	2.5	1300	$1,675	$1.29	15d	1	0.47mi
1051 3rd St SE Unit 1069 Hickory, NC	2.0	1.5	963	$1,325	$1.38	15d	1	0.57mi
1620 2nd St SW Hickory, NC	3.0	1.0	1054	$1,350	$1.28	5d	1	0.88mi
1 N Center St Hickory, NC	1.0–2.0	1.0–2.0	991	$2,344	$2.36	15d	6	0.90mi
1131 3rd Ave SW Hickory, NC	2.0	1.5	1024	$1,100	$1.07	15d	1	1.05mi
735 8th Avenue Ct SE Hickory, NC	3.0	2.0	1334	$1,795	$1.35	23d	1	1.10mi
723 Highland Ave SE Hickory, NC	2.0	1.0	985	$1,500	$1.52	23d	1	1.28mi

Listing history 17 events

1. 2026-06-21
   days on market $204,250 Active 24 DOM
2. 2026-06-19
   days on market $204,250 Active 22 DOM
3. 2026-06-18
   days on market $204,250 Active 21 DOM
4. 2026-06-17
   days on market $204,250 Active 20 DOM
5. 2026-06-16
   days on market $204,250 Active 19 DOM
6. 2026-06-15
   pricedays on market $204,250 Active 18 DOM
7. 2026-06-14
   days on market $215,000 Active 16 DOM
8. 2026-06-13
   days on market $215,000 Active 15 DOM
9. 2026-06-10
   days on market $215,000 Active 13 DOM
10. 2026-06-09
    days on market $215,000 Active 12 DOM
11. 2026-06-08
    days on market $215,000 Active 11 DOM
12. 2026-06-07
    days on market $215,000 Active 10 DOM
13. 2026-06-05
    days on market $215,000 Active 7 DOM
14. 2026-06-02
    days on market $215,000 Active 5 DOM
15. 2026-05-31
    days on market $215,000 Active 3 DOM
16. 2026-05-30
    days on market $215,000 Active 2 DOM
17. 2026-05-28
    listed $215,000 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: $1,039 · $87/mo
• Projected year-2 tax: $1,675 · $140/mo
• Expected delta: +$636/yr (+$53/mo · 61.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $20,050
• − Mortgage interest: −$11,441
• − Property taxes: −$1,039
• − Insurance: −$1,021
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$5,942
• Taxable loss: −$2,601
• Est. tax savings @ 24.0%: +$624
• After-tax cash flow: $1,551/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 — Hickory

• Score: 71/100
• State rank: #92
• US rank: #6361

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hickory, NC
• County: Catawba County · 105,763 people
• City population: 84,442
• 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

1 event — show timeline

• 2026-05-28 Listed $215,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2024): $1,039 · +0.0% YoY. Source: county tax records.