83 Boulevard St · Murphy, NC 28906

$255,000

4 bd · 2.0 ba · — sqft · MultiFamily · 9 Days on market

Built 1954 Good condition 0.33 ac lot

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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 +13.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Downtown Murphy duplex with strong income potential! This renovated multi-family property features two identical 2BR/1BA units with updated flooring, kitchens, insulated windows, and central heat & air. Public water and sewer, low-maintenance vinyl siding, and a convenient in-town location make this an attractive investment opportunity. One unit is currently vacant, creating flexibility for an owner-occupant or investor. Walkable to downtown Murphy, shopping, restaurants, and everyday conveniences. A rare chance to own a turn-key duplex in one of Murphy's most desirable rental locations.

Key facts

• Central heat and air
• Insulated windows
• Updated flooring

Tags

• UPDATED FLOORING
• UPDATED KITCHENS
• INSULATED WINDOWS
• CENTRAL HEAT AND AIR
• LOW-MAINTENANCE VINYL SIDING
• CONVENIENT IN-TOWN LOCATION

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Propane available; Cable available
• Home design: Multi-family residential income property; Vinyl siding
• Construction: Shingle roof
• Exterior features: Porch; City lot; State road frontage

Interior

• Kitchen: Electric range; Electric oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Insulated windows; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $255k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $8 ($98/yr) — positive. Per door: $4/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (12.1% below list).
• Recommended offer: $224k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.6% in Murphy — 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 66/100 on livability (#292 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, schools D+, amenities F.
• Cherokee County Schools (rural): math 42% / reading 47% proficiency, ranked #90 of 178 in NC (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1130 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Cherokee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,100 (12.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-40,769
• Equity at exit: $38,021

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-34,695
• Equity at exit: $22,048

Cash invested: $71,400 (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 28906

• Home prices YoY: -18.3%
• Active inventory: 1130
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $2,241 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $8

Break-even live

Break-even rent $2,231

Max offer price $255,000

Occupancy floor 95%

Sensitivity live

Price	-10% $184	-5% $96	+0% $8	+5% $-80	+10% $-168
Rent	-10% $-169	-5% $-80	+0% $8	+5% $97	+10% $185
Rate	-1.0pp $137	-0.5pp $73	base $8	+0.5pp $-58	+1.0pp $-125

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,242
Total (2 units)			$2,241

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Wade Decker Rd Murphy, NC	3.0	1.5	1100	$1,400	$1.27	3d	1	0.79mi

Listing history 8 events

1. 2026-06-21
   days on market $255,000 Active 9 DOM
2. 2026-06-18
   days on market $255,000 Active 7 DOM
3. 2026-06-17
   days on market $255,000 Active 6 DOM
4. 2026-06-16
   days on market $255,000 Active 5 DOM
5. 2026-06-15
   days on market $255,000 Active 4 DOM
6. 2026-06-13
   days on market $255,000 Active 2 DOM
7. 2026-06-12
   remarks 596-char remark
8. 2026-06-12
   listed $255,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 8 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,892
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,151
• − Management: −$2,151
• − Depreciation: −$7,418
• Taxable loss: −$4,213
• Est. tax savings @ 24.0%: +$1,011
• After-tax cash flow: $1,109/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, renovated duplex in Downtown Murphy, NC, offers strong income potential and is ready for immediate occupancy.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and property value
• Rental New flooring in bathrooms — Improves rental appeal
• Both New kitchen appliances — Modernizes the space and attracts buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Rental New flooring in bathrooms — Improves rental appeal ↑
• Both New kitchen appliances — Modernizes the space and attracts buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cherokee County Schools
• NCES district ID: 3700780
• Math proficiency: 42% ▲ 1.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $36,424
• Composite: 36.91/100
• National rank: #4542
• State rank: #90 of 178 in NC

Livability — Murphy

• Score: 66/100
• State rank: #292
• US rank: #12327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Murphy, NC
• Population (ZIP): 19,712

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 25,672 people
• By 2030: 24,504 · -4.5%
• By 2040: 21,955 · -14.5%
• By 2050: 19,592 · -23.7%
• By 2075: 15,128 · -41.1%
• By 2100: 11,203 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Slovak 4% Serbian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+57.5) · D 20.8% · R 78.2% · Other 1.0%
• 2008→2024 swing: -18.9pp toward R · 2008: -38.6pp · 2024: -57.5pp
• All cycles: 2024: R+57.5 2020: R+55.1 2016: R+57.0 2012: R+46.2 2008: R+38.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.19%
• Current HPI: 211.1795
• 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

1 event — show timeline

• 2026-06-11 Listed $255,000 CSAOR