2380 Race Track St · Gamewell, NC 28655

$204,900

3 bd · 2.0 ba · 1,430 sqft · SingleFamily public records · 89 Days on market

Built 1999 1.56 ac lot Est $226k · 9% 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 +13.4/30.0
• ARV discount +11.7/15.0
• DSCR +4.1/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tons of space with the added bonus of a huge private lot at the end of a cul-de-sac. This home offers 4 bedrooms and 2 baths, a garden tub, walk-in shower, and walk in closets. Located on 1.56 acres, this would be a privacy lover's dream. There is a huge yard and the home is conveniently located to Caldwell and Burke county. Don't miss out on this one!!

Key facts

• Split bedroom design
• Long driveway
• Natural landscape

Tags

• QUIET CUL DE SAC
• 1.56 ACRE LOT
• MATURE TREES
• NATURAL LANDSCAPE
• LONG DRIVEWAY
• SPLIT BEDROOM DESIGN

Property features AI

Finance

• Other: Directions: Please use GPS
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Private well water; Septic system
• Home design: Manufactured doublewide single-family residence; One story; Crawl space foundation
• Construction: Manufactured construction; Vinyl exterior
• Exterior features: Cleared lot; Gravel and paved access roads; Private maintained road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Heat pump; Central air conditioning
• Interior features: Six total rooms; Mud room laundry area
• Laundry & utility: Laundry in mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $6 ($66/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 $158k (22.7% below list).
• Recommended offer: $158k (22.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.3% in Gamewell — 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 60/100 on livability (#518 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, schools F, amenities F.
• Burke County Schools (rural): math 43% / reading 47% proficiency, ranked #89 of 178 in NC (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 431 active listings in the ZIP; 422 units permitted in Burke County in 2024 (94 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/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 $6k of value loss. Plan a longer hold.
• Burke County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago 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 $130k; list at $205k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,302 (22.7% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.77% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $225,940
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2685 Pit Ln	0.08mi	3/2.0	1,456 (+2%)	2mo	$230,000	$158	92

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: -16.2%
• Equity multiple: 0.43×
• Total profit: $-32,933
• Equity at exit: $30,551

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-28,555
• Equity at exit: $17,716

Cash invested: $57,372 (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 28655

• Home prices YoY: -13.2%
• Active inventory: 431
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,583 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $6

Break-even live

Break-even rent $1,576

Max offer price $204,900

Occupancy floor 95%

Sensitivity live

Price	-10% $122	-5% $64	+0% $6	+5% $-52	+10% $-110
Rent	-10% $-120	-5% $-57	+0% $6	+5% $68	+10% $131
Rate	-1.0pp $109	-0.5pp $58	base $6	+0.5pp $-48	+1.0pp $-102

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $204,900 Active 89 DOM
2. 2026-06-18
   days on market $204,900 Active 88 DOM
3. 2026-06-17
   days on market $204,900 Active 87 DOM
4. 2026-06-16
   days on market $204,900 Active 86 DOM
5. 2026-06-15
   days on market $204,900 Active 85 DOM
6. 2026-06-14
   days on market $204,900 Active 83 DOM
7. 2026-06-13
   days on market $204,900 Active 82 DOM
8. 2026-06-10
   days on market $204,900 Active 80 DOM
9. 2026-06-09
   days on market $204,900 Active 79 DOM
10. 2026-06-08
    days on market $204,900 Active 78 DOM
11. 2026-06-07
    days on market $204,900 Active 77 DOM
12. 2026-06-05
    days on market $204,900 Active 74 DOM
13. 2026-06-02
    days on market $204,900 Active 72 DOM
14. 2026-06-01
    days on market $204,900 Active 71 DOM
15. 2026-05-31
    days on market $204,900 Active 70 DOM
16. 2026-05-30
    days on market $204,900 Active 69 DOM
17. 2026-05-19
    price $204,900
18. 2026-03-22
    listed $215,000 Active
19. 2021-10-06
    soldstatus $129,900 Closed 355-char remark

    Show marketing remark (355 chars)

    Tons of space with the added bonus of a huge private lot at the end of a cul-de-sac. This home offers 4 bedrooms and 2 baths, a garden tub, walk-in shower, and walk in closets. Located on 1.56 acres, this would be a privacy lover's dream. There is a huge yard and the home is conveniently located to Caldwell and Burke county. Don't miss out on this one!!

20. 2021-10-06
    soldstatus $130,000

    Show marketing remark (355 chars)

    Tons of space with the added bonus of a huge private lot at the end of a cul-de-sac. This home offers 4 bedrooms and 2 baths, a garden tub, walk-in shower, and walk in closets. Located on 1.56 acres, this would be a privacy lover's dream. There is a huge yard and the home is conveniently located to Caldwell and Burke county. Don't miss out on this one!!

21. 2021-08-21
    status Pending 355-char remark

    Show marketing remark (355 chars)

    Tons of space with the added bonus of a huge private lot at the end of a cul-de-sac. This home offers 4 bedrooms and 2 baths, a garden tub, walk-in shower, and walk in closets. Located on 1.56 acres, this would be a privacy lover's dream. There is a huge yard and the home is conveniently located to Caldwell and Burke county. Don't miss out on this one!!

22. 2021-08-21
    listed $129,900 Active 355-char remark

    Show marketing remark (355 chars)

    Tons of space with the added bonus of a huge private lot at the end of a cul-de-sac. This home offers 4 bedrooms and 2 baths, a garden tub, walk-in shower, and walk in closets. Located on 1.56 acres, this would be a privacy lover's dream. There is a huge yard and the home is conveniently located to Caldwell and Burke county. Don't miss out on this one!!

23. 2014-07-16
    soldstatus $45,100
24. 2010-08-02
    soldstatus $53,000
25. 2006-06-15
    soldstatus $45,000
26. 1999-04-01
    soldstatus $12,500

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,680 · $140/mo
• Expected delta: +$658/yr (+$55/mo · 64.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low

Taxation est. · year 1

• Rental income: $18,996
• − Mortgage interest: −$11,478
• − Property taxes: −$1,022
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$5,961
• Taxable loss: −$3,528
• Est. tax savings @ 24.0%: +$847
• After-tax cash flow: $913/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: Burke County Schools
• NCES district ID: 3700480
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $38,342
• Composite: 37.51/100
• National rank: #4400
• State rank: #89 of 178 in NC

Livability — Gamewell

• Score: 60/100
• State rank: #518
• US rank: #19047

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Burke County · 55,100 people
• Metro: Hickory-Lenoir-Morganton, NC
• Population (ZIP): 55,100
• Household income: $57,713
• Rent vs Own: 27.3% rent · 72.7% own
• Severe rent burden: 1145.0

Population outlook (Burke County) Hauer SSP2

• Today (2025): 86,552 people
• By 2030: 84,123 · -2.8%
• By 2040: 78,165 · -9.7%
• By 2050: 71,099 · -17.9%
• By 2075: 56,264 · -35.0%
• By 2100: 44,742 · -48.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Black 8% Two or more races 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Burke

• 2024 margin: Solid R (+41.2) · D 29.0% · R 70.3%
• 2008→2024 swing: -22.0pp toward R · 2008: -19.2pp · 2024: -41.2pp
• All cycles: 2024: R+41.2 2020: R+40.1 2016: R+39.4 2012: R+23.6 2008: R+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.07%
• Current HPI: 362.0732
• 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

+1539.2% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $204,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-22 Listed $215,000 CANOPYMLS as Distributed by MLS Grid
• 2021-10-06 Sold (Public Records) $130,000 Public Records
• 2021-10-06 Sold (MLS) $129,900 CANOPYMLS as Distributed by MLS Grid
• 2021-08-21 Pending — CANOPYMLS as Distributed by MLS Grid
• 2021-08-21 Listed $129,900 CANOPYMLS as Distributed by MLS Grid
• 2014-07-16 Sold (Public Records) $45,100 Public Records
• 2010-08-02 Sold (Public Records) $53,000 Public Records
• 2006-06-15 Sold (Public Records) $45,000 Public Records
• 1999-04-01 Sold (Public Records) $12,500 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,022 · +89.4% YoY. Source: county tax records.