621 E Sharpe St E · Statesville, NC 28677

$147,500

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 58 Days on market

Built 1957 10,018 sqft lot Est $158k · 7% under

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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 +16.2/30.0
• ARV discount +10.6/15.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• 1% rule +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

Key facts

• Large back deck
• Renovated home
• Large basement

Tags

• RENOVATED HOME
• SPACIOUS LIVING ROOM
• LARGE BACK DECK
• LARGE BASEMENT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential home; Site-built construction; One story; Basement entry (walk-out)
• Construction: Brick partial and wood construction
• Exterior features: Concrete and paved roads; publicly maintained road

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No central heating listed; Ceiling fan(s)
• Interior features: Five total rooms; Partial basement with storage space and walk-out access
• Laundry & utility: Utility room; Laundry closet; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $24 ($288/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 $127k (14.2% below list).
• Recommended offer: $127k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.7% in Statesville — 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 59/100 on livability (#557 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Iredell-Statesville Schools (rural): math 53% / reading 52% proficiency, ranked #51 of 178 in NC (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Third Creek Elementary (math 28% / reading 25%, grade F, #1,073 of 1,410 statewide, top 77%, 549 students, 89% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); Statesville High (math 17% / reading 27%, grade F, #484 of 535 statewide, top 91%, 879 students, 77% FRL) — zoned schools average 58% FRL vs 38% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 475 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iredell County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $86k; list at $148k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,521 (14.2% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $158,400
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
709 E Front St	0.16mi	3/1.0	946 (+5%)	6mo	$140,000	$148	79
710 Wood St	0.19mi	3/1.0	950 (+6%)	11mo	$167,000	$176	73
802 Wood St	0.25mi	2/1.0 (-1)	932 (+4%)	7mo	$169,500	$182	72
541 E Front St	0.12mi	2/1.0 (-1)	943 (+5%)	22mo	$165,000	$175	63
160 Park Ter	0.36mi	2/1.0 (-1)	876 (-3%)	20mo	$176,400	$201	57
245 Garfield St	0.41mi	2/1.0 (-1)	984 (+9%)	7mo	$155,000	$158	55
526 S Green St	0.37mi	3/2.0	987 (+10%)	14mo	$190,000	$193	51
353 Euclid Ave	0.74mi	2/1.0 (-1)	985 (+9%)	18mo	$124,900	$127	30

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 · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-25,850
• Equity at exit: $21,993

10-year hold

• IRR: -17.0%
• Equity multiple: 0.18×
• Total profit: $-34,028
• Equity at exit: $12,753

Cash invested: $41,300 (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 28677

• Rents YoY: 0.2%
• Active inventory: 475
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,265 high
• Mortgage (P&I): −$774
• Tax from tax record: −$85 /mo · $1,020/yr
• Insurance: −$61
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $24

Break-even live

Break-even rent $1,235

Max offer price $147,500

Occupancy floor 93%

Sensitivity live

Price	-10% $107	-5% $66	+0% $24	+5% $-18	+10% $-60
Rent	-10% $-76	-5% $-26	+0% $24	+5% $74	+10% $124
Rate	-1.0pp $98	-0.5pp $61	base $24	+0.5pp $-14	+1.0pp $-53

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 Davie Ave Apt B Statesville, NC	2.0	1.0	800	$1,050	$1.31	25d	1	0.37mi
612 Davie Ave Unit K Statesville, NC	2.0	1.0	800	$1,050	$1.31	6d	1	0.43mi
334 Brevard St Unit F Statesville, NC	2.0	1.0	800	$800	$1.00	25d	1	0.67mi
1010 Foxcroft Ln Statesville, NC	1.0–3.0	1.0–2.0	886	$1,357	$1.53	0d	18	0.67mi
502 Russell St Statesville, NC	1.0–4.0	1.0–1.5	800	$1,209	$1.51	0d	7	1.02mi
626 Walnut St Unit D Statesville, NC	2.0	1.5	1090	$1,100	$1.01	25d	1	1.15mi
627 Cherry St Unit F Statesville, NC	2.0	1.5	1098	$1,200	$1.09	25d	1	1.17mi
544 N Center St Unit A Statesville, NC	2.0	2.0	1040	$1,195	$1.15	25d	1	1.18mi
708 W Front St Statesville, NC	2.0	1.0	950	$985	$1.04	4d	1	1.24mi
797 Cherry St Statesville, NC	2.0	1.0	950	$985	$1.04	0d	1	1.28mi
138 Signal Hill Dr Statesville, NC	3.0	1.0–2.5	900	$1,675	$1.86	25d	1	1.39mi

Listing history 50 events

1. 2026-06-21
   days on market $147,500 Active 58 DOM
2. 2026-06-18
   status $147,500 Active 55 DOM
3. 2026-06-18
   days on market $147,500 Active Under Contract 55 DOM
4. 2026-06-17
   days on market $147,500 Active Under Contract 54 DOM
5. 2026-06-16
   days on market $147,500 Active Under Contract 53 DOM
6. 2026-06-15
   days on market $147,500 Active Under Contract 52 DOM
7. 2026-06-13
   days on market $147,500 Active Under Contract 50 DOM
8. 2026-06-13
   days on market $147,500 Active Under Contract 49 DOM
9. 2026-06-09
   days on market $147,500 Active Under Contract 46 DOM
10. 2026-06-08
    days on market $147,500 Active Under Contract 45 DOM
11. 2026-06-07
    statusdays on market $147,500 Active Under Contract 44 DOM
12. 2026-06-04
    days on market $147,500 Active 41 DOM
13. 2026-06-03
    days on market $147,500 Active 40 DOM
14. 2026-06-02
    pricedays on market $147,500 Active 39 DOM
15. 2026-06-01
    days on market $152,500 Active 38 DOM
16. 2026-05-31
    days on market $152,500 Active 37 DOM
17. 2026-05-14
    status Pending 443-char remark

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

18. 2026-05-14
    historical Active Under Contract

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

19. 2026-05-07
    price $152,500 443-char remark

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

20. 2026-05-07
    price $152,500

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

21. 2026-04-24
    listed $155,000 Active 443-char remark

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

22. 2026-04-24
    listed $155,000 Active

    Show marketing remark (443 chars)

    Charming renovated home in Statesville! Welcome to this 2 bed/ 1 bath home in the heart of Statesville. Move-in ready features spacious living room, dining room, kitchen and large back deck. Need extra storage or workspace? The latge basement, accessible from the back of the home, offers endless possibilities. Schedule your showing today. - NOTICE - HVAC system is incomplete - the property is missing an air condenser and will be sold AS-IS

23. 2026-04-02
    price $121,000
24. 2026-03-31
    price $115,500
25. 2026-03-25
    price $91,300
26. 2026-03-18
    price $89,100
27. 2026-03-11
    price $60,500
28. 2026-03-09
    price $40,150
29. 2026-03-04
    price $27,500
30. 2026-02-27
    price $94,830
31. 2026-02-27
    status Active
32. 2025-10-16
    status Pending
33. 2025-10-15
    price $146,300
34. 2025-10-13
    price $140,250
35. 2025-10-09
    price $137,500
36. 2025-10-06
    price $121,000
37. 2025-09-29
    price $84,700
38. 2025-09-25
    price $83,600
39. 2025-09-24
    price $77,000
40. 2025-09-17
    price $68,200
41. 2025-09-16
    price $40,150
42. 2025-09-13
    price $39,050
43. 2025-09-12
    listed $38,500 Active
44. 2025-06-05
    status Active
45. 2025-06-05
    price $180,000
46. 2025-05-16
    historical Active Under Contract
47. 2025-05-13
    price $187,000
48. 2025-05-02
    price $192,000
49. 2025-04-15
    price $195,000
50. 2025-03-22
    price $199,900

ⓘ 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: $1,020 · $85/mo
• Projected year-2 tax: $1,210 · $101/mo
• Expected delta: +$189/yr (+$16/mo · 18.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $15,183
• − Mortgage interest: −$8,262
• − Property taxes: −$1,020
• − Insurance: −$1,404
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,291
• Taxable loss: −$2,224
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $822/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: Iredell-Statesville Schools
• NCES district ID: 3702310
• Math proficiency: 53% ▲ 8.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $51,201
• Composite: 44.98/100
• National rank: #2703
• State rank: #51 of 178 in NC

Livability — Statesville

• Score: 59/100
• State rank: #557
• US rank: #20505

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Statesville, NC
• County: Iredell County · 182,638 people
• City population: 78,393
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 38,819
• Household income: $62,406
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 1174.0

Population outlook (Iredell County) Hauer SSP2

• Today (2025): 194,510 people
• By 2030: 206,171 · +6.0%
• By 2040: 227,781 · +17.1%
• By 2050: 245,102 · +26.0%
• By 2075: 280,896 · +44.4%
• By 2100: 294,375 · +51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 21% Hispanic / Latino 14% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 3% Slovak 2% Scandinavian 1%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Iredell

• 2024 margin: Solid R (+32.6) · D 33.2% · R 65.8%
• 2008→2024 swing: -8.2pp toward R · 2008: -24.4pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+32.4 2016: R+36.8 2012: R+30.5 2008: R+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.76%
• Current HPI: 243.0445
• Rent YoY: ▲ 0.20%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+77.3% since first listed

37 events — show timeline

• 2026-05-14 Pending — Triad MLS
• 2026-05-14 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $152,500 Triad MLS
• 2026-05-07 Price Changed $152,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Listed $155,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-24 Listed $155,000 Triad MLS
• 2026-04-02 Price Changed $121,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $115,500 CANOPYMLS as Distributed by MLS Grid
• 2026-03-25 Price Changed $91,300 CANOPYMLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $89,100 CANOPYMLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $60,500 CANOPYMLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $40,150 CANOPYMLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $27,500 CANOPYMLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $94,830 CANOPYMLS as Distributed by MLS Grid
• 2026-02-27 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-10-16 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-10-15 Price Changed $146,300 CANOPYMLS as Distributed by MLS Grid
• 2025-10-13 Price Changed $140,250 CANOPYMLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $137,500 CANOPYMLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $121,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $84,700 CANOPYMLS as Distributed by MLS Grid
• 2025-09-25 Price Changed $83,600 CANOPYMLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $77,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $68,200 CANOPYMLS as Distributed by MLS Grid
• 2025-09-16 Price Changed $40,150 CANOPYMLS as Distributed by MLS Grid
• 2025-09-13 Price Changed $39,050 CANOPYMLS as Distributed by MLS Grid
• 2025-09-12 Listed $38,500 CANOPYMLS as Distributed by MLS Grid
• 2025-06-05 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-06-05 Price Changed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-05-13 Price Changed $187,000 CANOPYMLS as Distributed by MLS Grid
• 2025-05-02 Price Changed $192,000 CANOPYMLS as Distributed by MLS Grid
• 2025-04-15 Price Changed $195,000 CANOPYMLS as Distributed by MLS Grid
• 2025-03-22 Price Changed $199,900 CANOPYMLS as Distributed by MLS Grid
• 2025-02-28 Listed $207,000 CANOPYMLS as Distributed by MLS Grid
• 2025-02-25 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2024-12-27 Sold (Public Records) $86,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,020 · +0.0% YoY. Source: county tax records.