5110 Sierra Dr · Denver, NC 28650

$270,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 25 Days on market

Built 2002 0.50 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 +13.3/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Livability +3.3/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Pulling into this prime location, you are instantly greeted by this welcoming 3-bedroom, 2-bathroom move in ready home sitting proudly on a spacious corner lot within the highly sought-after Bandys school district. Conveniently located from Hwy 16 and Hwy 150, this property offers an effortless commute while maintaining its peaceful residential charm. A welcoming covered front porch delivers undeniable curb appeal before you even step through the front door. Inside, the home has been impeccably maintained and reflects true pride of ownership throughout every square foot. The seamless layout flows beautifully to the outdoors, where you can relax in the ultimate peace and quiet of your fully

Key facts

• Covered front porch
• Storage building
• Prime location

Tags

• PRIME LOCATION
• CORNER LOT
• BANDYS SCHOOL DISTRICT
• COVERED FRONT PORCH
• FULLY FENCED BACKYARD
• STORAGE BUILDING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; Parking spaces (off-street)
• Utilities: Well water; Septic system
• Home design: Single-family residence; On-frame modular construction; Vinyl exterior; One story; Entry level: Main
• Construction: On Frame Modular construction; Vinyl exterior; Crawl space foundation
• Exterior features: Half-acre lot; Roads are gravel and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher, Microwave, Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Room count: 1; Dishwasher, Microwave, Refrigerator
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $2 ($23/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 $206k (23.7% below list).
• Recommended offer: $206k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.1% in Denver — 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 (#255 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D, amenities F, commute F.
• Catawba County Schools (rural): math 54% / reading 51% proficiency, ranked #54 of 178 in NC (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Balls Creek Elementary (math 65% / reading 51%, grade C+, #236 of 1,410 statewide, top 17%, 679 students, 57% FRL); Bandys High (math 72% / reading 72%, grade B+, #107 of 535 statewide, top 21%, 864 students, 33% FRL) — zoned schools at 45% FRL track the district average.
• Zoned-school proficiency averages 65% at this address vs 52% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Catawba County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,016 units permitted in Catawba County in 2024 (255 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/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 $2k of loan paydown is wiped out by about $8k 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

• It's been on market 25 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $142k; list at $270k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,914 (23.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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?
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: 0.76% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 10.9

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-43,746
• Equity at exit: $40,258

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-38,410
• Equity at exit: $23,345

Cash invested: $75,600 (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 28650

• Home prices YoY: -12.7%
• Active inventory: 142
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,059 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $2

Break-even live

Break-even rent $2,057

Max offer price $270,000

Occupancy floor 95%

Sensitivity live

Price	-10% $155	-5% $78	+0% $2	+5% $-74	+10% $-151
Rent	-10% $-161	-5% $-79	+0% $2	+5% $83	+10% $165
Rate	-1.0pp $138	-0.5pp $71	base $2	+0.5pp $-68	+1.0pp $-139

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4037 Tower Rd Maiden, NC	3.0	2.0	1910	$2,250	$1.18	24d	1	0.21mi
5507 Bucks Garage Rd Unit B Maiden, NC	2.0	2.0	1402	$1,775	$1.27	24d	1	1.00mi

Listing history 22 events

1. 2026-06-21
   days on market $270,000 Active 25 DOM
2. 2026-06-18
   days on market $270,000 Active 22 DOM
3. 2026-06-17
   days on market $270,000 Active 21 DOM
4. 2026-06-16
   days on market $270,000 Active 20 DOM
5. 2026-06-15
   days on market $270,000 Active 19 DOM
6. 2026-06-13
   days on market $270,000 Active 17 DOM
7. 2026-06-13
   days on market $270,000 Active 16 DOM
8. 2026-06-10
   price $270,000 Active 13 DOM
9. 2026-06-09
   days on market $275,000 Active 13 DOM
10. 2026-06-08
    days on market $275,000 Active 12 DOM
11. 2026-06-07
    days on market $275,000 Active 11 DOM
12. 2026-06-04
    days on market $275,000 Active 8 DOM
13. 2026-06-03
    days on market $275,000 Active 7 DOM
14. 2026-06-02
    days on market $275,000 Active 6 DOM
15. 2026-06-01
    days on market $275,000 Active 5 DOM
16. 2026-05-31
    days on market $275,000 Active 4 DOM
17. 2026-05-28
    listed $275,000 Active
18. 2019-02-28
    soldstatus $142,000
19. 2015-04-23
    soldstatus $80,000
20. 2013-11-26
    soldstatus $85,000
21. 2010-06-15
    soldstatus $88,000
22. 2004-09-02
    soldstatus $28,000

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $2,214 · $184/mo
• Expected delta: +$1,057/yr (+$88/mo · 91.4%)

ⓘ 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 6 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $24,710
• − Mortgage interest: −$15,124
• − Property taxes: −$1,157
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$7,855
• Taxable loss: −$4,729
• Est. tax savings @ 24.0%: +$1,135
• After-tax cash flow: $1,158/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: Catawba County Schools
• NCES district ID: 3700690
• Math proficiency: 54% ▲ 9.00%
• Reading proficiency: 51% ▲ 3.00%
• Median HH income: $48,180
• Composite: 44.71/100
• National rank: #2754
• State rank: #54 of 178 in NC

Livability — Denver

• Score: 66/100
• State rank: #255
• US rank: #11212

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Catawba County · 105,763 people
• City population: 28,768
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 12,746
• Household income: $74,922
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 36.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 3% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 9% Other Asian/Pacific 1%

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: ▼ -41.44%
• Current HPI: 284.0424
• Rent YoY: —
• 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

+882.1% since first listed

6 events — show timeline

• 2026-05-28 Listed $275,000 CANOPYMLS as Distributed by MLS Grid
• 2019-02-28 Sold (Public Records) $142,000 Public Records
• 2015-04-23 Sold (Public Records) $80,000 Public Records
• 2013-11-26 Sold (Public Records) $85,000 Public Records
• 2010-06-15 Sold (Public Records) $88,000 Public Records
• 2004-09-02 Sold (Public Records) $28,000 Public Records

Property tax history

+8.2%/yr

Latest (2024): $1,157 · +4.5% YoY. Source: county tax records.