406 26th St SW · Long View, NC 28602

$175,000

3 bd · 3.5 ba · 1,320 sqft · SingleFamily public records · 13 Days on market

Built 1940 0.30 ac lot Est $243k · 28% under

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Why this score? — see what drove the C 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.5/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this delightful bungalow nestled in the heart of Southwest Hickory! Perfectly situated on a spacious, level corner lot, this home blends classic charm with modern convenience. Just minutes from Highways 70, 321, and I-40, you'll enjoy effortless commutes without sacrificing peace and quiet. Inside, you'll find 3 cozy bedrooms and 2 full baths spread across a single, accessible floor. The layout features distinct living and dining areas, plus a functional laundry/mudroom that keeps clutter at bay. Step outside to your private back deck—the perfect spot for morning coffee or evening BBQs under the Carolina sky. And this includes the vacant lot behind the home for all you

Key facts

• Private back deck
• Corner lot
• 0.3 acre lot

Tags

• CORNER LOT
• PRIVATE BACK DECK

Property features AI

Finance

• Other: Zoning: R-4; No restrictions
• HOA & community: No HOA

Exterior

• Parking: Driveway parking; 4 open parking spaces
• Security: Smoke detector(s)
• Utilities: City water; Public sewer; Cable available; Electricity connected; Wired internet available
• Home design: Single-family residence; Site-built construction; One level
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Corner lot; Dirt and paved road access; Publicly maintained road; Has additional parcels

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate; Linoleum; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: 9 total rooms; Two or more access exits; Smoke detector(s)
• Laundry & utility: Mud room with main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/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 (4.7% below list).
• Recommended offer: $167k (4.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#416 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, commute F, employment 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: Hickory High (math 44% / reading 56%, grade D+, #309 of 535 statewide, top 58%, 1,014 students, 62% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 212 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $5k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $166,855 (4.7% below list)

Questions for the listing agent

1. Built in 1940 — 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 F-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: 0.95% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $242,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 26th St SW	0.00mi	3/2.0	1,274 (-4%)	0mo	$177,000	$139	88
410 24th St SW	0.20mi	3/2.0	1,316 (-0%)	4mo	$222,500	$169	81
403 27th Street Pl SW	0.08mi	3/2.0	1,200 (-9%)	8mo	$160,000	$133	69
1919 2nd Ave SW	0.63mi	3/2.0	1,320 (0%)	1mo	$221,000	$167	64
408 29th Street Pl SW	0.28mi	3/2.5	1,471 (+11%)	8mo	$270,000	$184	57
2832 12th Ave SW	0.65mi	3/2.0	1,311 (-1%)	9mo	$265,000	$202	55
2616 Main Ave Dr NW	0.43mi	3/2.0	1,150 (-13%)	2mo	$235,000	$204	50
315 21st St SW	0.52mi	3/2.0	1,175 (-11%)	7mo	$250,000	$213	45
3119 6th Ave SW	0.46mi	3/1.5	1,179 (-11%)	10mo	$225,000	$191	44
60 28th St NW	0.45mi	3/1.0	1,152 (-13%)	10mo	$160,000	$139	40
196 25th St NW	0.75mi	3/1.0	1,198 (-9%)	3mo	$230,000	$192	37
1837 5th Ave SW	0.70mi	3/2.0	1,494 (+13%)	8mo	$187,500	$126	33

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-12,628
• Equity at exit: $26,093

10-year hold

• IRR: 4.0%
• Equity multiple: 1.30×
• Total profit: $14,883
• Equity at exit: $15,131

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 28602

• Home prices YoY: -13.6%
• Rents YoY: 4.2%
• Active inventory: 212
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $217

Break-even live

Break-even rent $1,394

Max offer price $175,000

Occupancy floor 82%

Sensitivity live

Price	-10% $316	-5% $266	+0% $217	+5% $167	+10% $118
Rent	-10% $85	-5% $151	+0% $217	+5% $283	+10% $348
Rate	-1.0pp $305	-0.5pp $261	base $217	+0.5pp $171	+1.0pp $125

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
823 31st St SW Hickory, NC	3.0	2.5	1335	$1,775	$1.33	22d	1	0.43mi
130 18th St SW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	22d	1	0.78mi
128 18th Street Pl NW Hickory, NC	3.0	2.5	1333	$1,595	$1.20	22d	1	0.91mi
1131 3rd Ave SW Hickory, NC	2.0	1.5	1024	$1,100	$1.07	14d	1	1.44mi

Listing history 5 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   status Active
3. 2026-05-05
   historical Active Under Contract
4. 2026-04-18
   status Pending
5. 2026-04-15
   listed $175,000 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: $1,330 · $111/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$105/yr (+$9/mo · 7.9%)

ⓘ 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: $20,023
• − Mortgage interest: −$9,803
• − Property taxes: −$1,330
• − Insurance: −$875
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$5,091
• Taxable loss: −$280
• Est. tax savings @ 24.0%: +$67
• After-tax cash flow: $2,667/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 — Long View

• Score: 63/100
• State rank: #416
• US rank: #15606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long View, NC
• County: Catawba County · 105,763 people
• 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

5 events — show timeline

• 2026-05-15 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-12 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-05-05 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-15 Listed $175,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $1,330 · +0.0% YoY. Source: county tax records.