1329 Landsdowne Dr · Conover, NC 28613

$120,000

3 bd · 1.0 ba · 1,240 sqft · SingleFamily public records · 2 Days on market

Built 1972 0.39 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cash Only Offers - Tax value $178,000. Heatpump 2024.3 bed 1 bath with enclosed carport. Hardwoods in Den and all 3 bedrooms. The Kitchen is on the back with ample cabinets, refrig remains. Primary bedroom does connect to the full bath which is also accessible from the hallway. Enclosed carport has window unit only. It is not counted in heated square footage. Laundry area on the backside of enclosed carport and leads to screened in porch. Ample sheds remain. The large shed with garage door looks to be in great condition. Level corner lot and no city taxes. The house had a water leak in crawlspace that was corrected. It later had termites that were treated but the floor joist were damaged

Key facts

• Enclosed carport
• Screened in porch
• Ample cabinets

Tags

• ENCLOSED CARPORT
• AMPLE CABINETS
• LAUNDRY AREA
• SCREENED IN PORCH
• AMPLE SHEDS
• LARGE SHED WITH GARAGE DOOR

Property features AI

Finance

• Other: Corner, level lot; Publicly maintained paved/asphalt road
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Community well water; Septic system
• Home design: Single-family residence; One story; Site-built construction
• Construction: Partial brick and vinyl exterior; Crawl space foundation
• Exterior features: Rear screened porch; Outbuilding / shed

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: 1 full bath on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Attic with pull-down stairs; 7 total rooms
• Laundry & utility: Utility room for laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.2% vs local median 3.4% in Conover — 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 68/100 on livability (#206 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, commute F.
• Newton Conover City Schools (suburban): math 49% / reading 47% proficiency, ranked #74 of 178 in NC (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Shuford Elementary (math 62% / reading 52%, grade C+, #249 of 1,410 statewide, top 20%, 421 students, 56% FRL); Newton-Conover High (math 57% / reading 52%, grade C-, #270 of 535 statewide, top 52%, 758 students, 59% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 167 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $120,000

Questions for the listing agent

1. Built in 1972 — 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. 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?
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $255,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3940 Herman Sipe Rd	0.24mi	3/2.0	1,288 (+4%)	6mo	$261,000	$203	73
1875 Terrain Dr NW	0.17mi	3/1.5	1,288 (+4%)	15mo	$264,900	$206	72
1190 Landsdowne Dr	0.15mi	3/2.0	1,224 (-1%)	20mo	$272,500	$223	70
1454 Carlin Dr	0.27mi	3/2.0	1,209 (-2%)	19mo	$210,000	$174	64
1250 Landsdowne Dr	0.09mi	3/1.5	1,073 (-14%)	10mo	$180,000	$168	63
1369 Landsdowne Dr	0.14mi	3/2.0	1,423 (+15%)	7mo	$335,000	$235	59
4051 Plum St	0.40mi	3/1.0	1,080 (-13%)	2mo	$185,000	$171	58
1713 Indian Springs Dr NW	0.26mi	3/2.0	1,375 (+11%)	17mo	$319,900	$233	51
3780 Herman Sipe Rd	0.18mi	3/2.0	1,392 (+12%)	21mo	$286,700	$206	50
3944 Hemingway Dr NW	0.59mi	4/2.0 (+1)	1,212 (-2%)	12mo	$230,000	$190	50
1011 Atherstone St NW	0.64mi	3/2.0	1,418 (+14%)	11mo	$278,400	$196	33
1518 Indian Springs Dr NW	0.56mi	3/2.0	1,425 (+15%)	16mo	$320,000	$225	32

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: 8.8%
• Equity multiple: 1.35×
• Total profit: $11,594
• Equity at exit: $17,892

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $49,995
• Equity at exit: $10,375

Cash invested: $33,600 (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 28613

• Home prices YoY: -22.7%
• Active inventory: 167
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,567 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $488

Break-even live

Break-even rent $950

Max offer price $120,000

Occupancy floor 64%

Sensitivity live

Price	-10% $556	-5% $522	+0% $488	+5% $454	+10% $420
Rent	-10% $364	-5% $426	+0% $488	+5% $550	+10% $612
Rate	-1.0pp $548	-0.5pp $518	base $488	+0.5pp $457	+1.0pp $425

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3939 Newhall Dr NW Hickory, NC	3.0	1.5	1158	$1,450	$1.25	13d	1	0.65mi
3971 Newhall Dr NW Hickory, NC	3.0	1.5	1158	$1,395	$1.20	6d	1	0.70mi
1615 Oak Leaf Dr NW Hickory, NC	2.0	2.5	1280	$1,400	$1.09	13d	1	0.71mi
1602 County Home Rd Conover, NC	3.0	2.0	1400	$2,150	$1.54	14d	1	0.83mi

Listing history 3 events

1. 2026-05-13
   status Pending
2. 2026-05-12
   historical Active Under Contract
3. 2026-05-08
   listed $120,000 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: $852 · $71/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$132/yr (+$11/mo · 15.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,805
• − Mortgage interest: −$6,722
• − Property taxes: −$852
• − Insurance: −$600
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,491
• Taxable income: $4,132
• Est. tax owed @ 24.0%: −$992
• After-tax cash flow: $4,861/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: Newton Conover City Schools
• NCES district ID: 3703360
• Math proficiency: 49% ▲ 11.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $39,491
• Composite: 40.13/100
• National rank: #3797
• State rank: #74 of 178 in NC

Livability — Conover

• Score: 68/100
• State rank: #206
• US rank: #10020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,486
• Population (ZIP): 23,486

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% Hispanic / Latino 17% Two or more races 9% Asian 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 2% Romanian 2% Serbian 2%
• Foreign-born: 9% · Canada, China, Guatemala
• Languages at home: 81% English-only · Spanish 14% 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: ▼ -75.84%
• Current HPI: 257.5894
• 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

3 events — show timeline

• 2026-05-13 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-12 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-05-08 Listed $120,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2024): $852 · +0.0% YoY. Source: county tax records.