219 Watterson Rd · Grover, NC 28073

$175,000

4 bd · 2.0 ba · 2,016 sqft · Manufactured public records · 33 Days on market

Built 1995 0.93 ac lot ↓ 3% 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 +12.5/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.0/10.0
• DSCR +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks

This home has over 2000 sqft, 4 bedrooms, 2 full bath and a flex space sitting on almost a full acre lot in Grover, NC. This home provides privacy and a country feel while also being close to Kings Mountain, Shelby and areas of SC. Split floor plan with primary bedroom and private bath (with a tub and separate walk in shower) on one end with 3 more bedrooms and another full bath on the other. Livingroom is very large. Flex area is very large. Home needs some TLC but honestly wouldn't take much to bring it back to its glory. Roof is only 1 yr old. Known needs include needing fresh paint throughout, carpets replaced, a couple of soft spots in the floor in only a few smaller areas and a good c

Key facts

• Split floor plan
• Large flex area
• Large livingroom

Tags

• ALMOST A FULL ACRE LOT
• SPLIT FLOOR PLAN
• LARGE LIVINGROOM
• LARGE FLEX AREA
• ROOF IS ONLY 1 YR OLD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-25 ($-296/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (25.5% below list).
• Recommended offer: $130k (25.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#637 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute 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: Grover Elementary (math 47% / reading 52%, grade D, #417 of 1,410 statewide, top 32%, 320 students, 99% FRL); Kings Mountain Middle (math 43% / reading 57%, grade C, #113 of 475 statewide, top 25%, 712 students, 67% FRL); Kings Mountain High (math 68% / reading 65%, grade B, #150 of 535 statewide, top 28%, 1,236 students, 56% FRL).
• Market conditions: 29 active listings in the ZIP; 461 units permitted in Cleveland County in 2024 (38 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $-23 appreciation (-0.0% local appreciation)).
• 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 33 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

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 $130,366 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.74% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.86×
• Total profit: $-6,876
• Equity at exit: $50,698

10-year hold

• IRR: 2.8%
• Equity multiple: 1.30×
• Total profit: $14,516
• Equity at exit: $60,849

Cash invested: $49,000 (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 28073

• Home prices YoY: -0.0%
• Active inventory: 29
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-25

Break-even live

Break-even rent $1,335

Max offer price $170,639

Occupancy floor 97%

Sensitivity live

Price	-10% $74	-5% $25	+0% $-25	+5% $-74	+10% $-124
Rent	-10% $-128	-5% $-76	+0% $-25	+5% $27	+10% $78
Rate	-1.0pp $63	-0.5pp $20	base $-25	+0.5pp $-70	+1.0pp $-116

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2025-06-18
   status Pending
2. 2025-06-11
   price $175,000
3. 2025-05-16
   listed $180,000 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: $767 · $64/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$668/yr (+$56/mo · 87.0%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,644
• − Mortgage interest: −$9,803
• − Property taxes: −$767
• − Insurance: −$875
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$5,091
• Taxable loss: −$3,395
• Est. tax savings @ 24.0%: +$815
• After-tax cash flow: $519/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 — Grover

• Score: 55/100
• State rank: #637
• US rank: #23207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,246

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Black 7% Two or more races 4%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 1% Danish 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▬ -0.01%
• Current HPI: 178.1701
• 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

-2.8% since first listed

3 events — show timeline

• 2025-06-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-06-11 Price Changed $175,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-16 Listed $180,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2025): $767 · +21.5% YoY. Source: county tax records.