3839 W Dixon Blvd · Shelby, NC 28152

$154,999

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 272 Days on market

Built 1949 8,712 sqft lot Est $171k · 10% under ↓ 4% 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 +15.8/30.0
• ARV discount +11.8/15.0
• DSCR +4.9/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic home on a corner lot. Located on Highway 74 with ease of access to downtown Shelby and Forest City two bedroom one bath with a third room that could be used as an office or media room brand new heating and cooling system. This is a charming little home with ample front yard, and move-in ready. Schedule your tour today!

Key facts

• Move-in ready
• Corner lot
• Ease of access

Tags

• CORNER LOT
• EASE OF ACCESS
• HEATING AND COOLING SYSTEM
• AMPLE FRONT YARD
• MOVE-IN READY

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: County water; Septic system installed; Cable available; Electricity connected
• Home design: Single-family residence; Site-built property; One story; Crawl space foundation
• Construction: Vinyl exterior
• Exterior features: Cleared, corner lot; Roads are dirt and paved; publicly maintained road

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl and wood flooring; 1 total room
• Laundry & utility: Inside laundry with electric dryer hookup in a utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $71 ($856/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 $127k (18.2% below list).
• Recommended offer: $127k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.9% in Shelby — 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 75/100 on livability (#52 in NC, #4,349 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment 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: Springmore Elementary (math 53% / reading 56%, grade C, #302 of 1,410 statewide, top 23%, 553 students, 64% FRL); Crest Middle (math 49% / reading 47%, grade C-, #134 of 475 statewide, top 29%, 849 students, 66% FRL); Crest High (math 61% / reading 57%, grade C+, #233 of 535 statewide, top 44%, 1,114 students, 54% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: 199 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 $1k of loan paydown is wiped out by about $5k 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 272 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $126,815 (18.2% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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 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?
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. 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?
8. 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.
9. 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.
10. 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: 6.85%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $171,444
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3924 W Sunset Blvd	0.25mi	2/2.0	1,112 (+2%)	6mo	$175,000	$157	77

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-20,638
• Equity at exit: $23,111

10-year hold

• IRR: -4.3%
• Equity multiple: 0.71×
• Total profit: $-12,392
• Equity at exit: $13,401

Cash invested: $43,400 (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 28152

• Home prices YoY: -34.4%
• Active inventory: 199
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$53 /mo · $637/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $71

Break-even live

Break-even rent $1,178

Max offer price $154,999

Occupancy floor 89%

Sensitivity live

Price	-10% $159	-5% $115	+0% $71	+5% $27	+10% $-16
Rent	-10% $-29	-5% $21	+0% $71	+5% $121	+10% $172
Rate	-1.0pp $149	-0.5pp $111	base $71	+0.5pp $31	+1.0pp $-10

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-22
   days on market $154,999 Active 272 DOM
2. 2026-06-19
   days on market $154,999 Active 270 DOM
3. 2026-06-18
   days on market $154,999 Active 269 DOM
4. 2026-06-17
   days on market $154,999 Active 268 DOM
5. 2026-06-16
   days on market $154,999 Active 267 DOM
6. 2026-06-15
   days on market $154,999 Active 266 DOM
7. 2026-06-14
   days on market $154,999 Active 264 DOM
8. 2026-06-13
   days on market $154,999 Active 263 DOM
9. 2026-06-10
   days on market $154,999 Active 261 DOM
10. 2026-06-09
    days on market $154,999 Active 260 DOM
11. 2026-06-08
    days on market $154,999 Active 259 DOM
12. 2026-06-07
    days on market $154,999 Active 258 DOM
13. 2026-06-05
    days on market $154,999 Active 255 DOM
14. 2026-06-03
    days on market $154,999 Active 254 DOM
15. 2026-06-02
    days on market $154,999 Active 253 DOM
16. 2026-06-01
    days on market $154,999 Active 252 DOM
17. 2026-05-31
    days on market $154,999 Active 251 DOM
18. 2026-05-30
    days on market $154,999 Active 250 DOM
19. 2026-04-03
    price $158,000
20. 2026-01-21
    price $159,000
21. 2025-09-22
    listed $165,000 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: $637 · $53/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$634/yr (+$53/mo · 99.6%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 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: $15,218
• − Mortgage interest: −$8,682
• − Property taxes: −$637
• − Insurance: −$775
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$4,509
• Taxable loss: −$1,820
• Est. tax savings @ 24.0%: +$437
• After-tax cash flow: $1,293/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 — Shelby

• Score: 75/100
• State rank: #52
• US rank: #4349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cleveland County · 83,736 people
• City population: 26,134
• Metro: Shelby, NC
• Population (ZIP): 26,134
• Household income: $57,806
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 768.0

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 (65%)
• Race & ethnicity: White 65% Black 22% Two or more races 9% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 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: ▼ -116.69%
• Current HPI: 223.0302
• Rent YoY: —
• Metro: Shelby, 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

-4.2% since first listed

3 events — show timeline

• 2026-04-03 Price Changed $158,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-21 Price Changed $159,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-22 Listed $165,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $637 · +45.2% YoY. Source: county tax records.