310 E Church St · Troutman, NC 28166

$305,000

4 bd · 1.5 ba · 2,659 sqft · SingleFamily public records · 307 Days on market

Built 1886 0.86 ac lot Est $375k · 19% 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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Schools +4.5/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Amazing Farm House in Troutman, NC. This updated 4 bedroom and 3 bath home with a wrap around porch sits on just under an acre of land. The main level boasts a living room, den, formal dining room and an nice sized kitchen. The primary suite is on the main level with a walk in closet and barn door. There is an additional full bath on the main level for guests. The upper level has 3 bedrooms and office/sunroom and the 3rd full bathroom. See offer instructions in the agent only comments.

Key facts

• Wrap around porch
• Barn door
• Walk in closet

Tags

• WRAP AROUND PORCH
• WALK IN CLOSET
• BARN DOOR
• OFFICE SUNROOM

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No main-level garage; Other parking details referenced in remarks
• Utilities: Public water with additional details noted in remarks; Public sewer with additional details noted in remarks
• Home design: Single-family residence (residential); Two levels
• Construction: Site-built construction; Vinyl siding with additional materials noted in remarks; Crawl space foundation
• Exterior features: Lot includes additional features noted in remarks; Road surface is paved and other types

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 4 bedrooms total — 1 on the main level, 3 on the upper level
• Bathrooms: 3 full bathrooms — 2 on the main level, 1 on the upper level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 9 total rooms; Forced air heating with additional unspecified system; Central air conditioning with additional unspecified system
• Laundry & utility: Laundry area with additional details noted in remarks

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/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 $257k (15.7% below list).
• Recommended offer: $257k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.1% in Troutman — 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 64/100 on livability (#342 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities F, commute F, health & safety 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: Troutman Elementary (math 63% / reading 44%, grade C, #335 of 1,410 statewide, top 24%, 698 students, 54% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); South Iredell High (math 47% / reading 72%, grade C+, #216 of 535 statewide, top 43%, 1,711 students, 34% FRL).
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Iredell-Statesville Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.1%/yr); 265 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $9k 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 307 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $80k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $305k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — 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 $257,162 (15.7% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.84% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $374,919
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
161 Astor St	0.40mi	5/3.0 (+1)	2,577 (-3%)	1mo	$375,000	$146	65
236 Cassius Dr	0.44mi	5/3.0 (+1)	2,577 (-3%)	4mo	$350,000	$136	60
134 Arden Ct	0.39mi	5/3.0 (+1)	2,577 (-3%)	7mo	$349,999	$136	59
142 Arden Ct	0.42mi	5/3.0 (+1)	2,577 (-3%)	6mo	$373,319	$145	59
213 Cassius Dr	0.48mi	5/3.0 (+1)	2,577 (-3%)	3mo	$363,999	$141	59
210 Astor St	0.48mi	5/3.0 (+1)	2,577 (-3%)	3mo	$364,999	$142	59
214 Astor St	0.49mi	5/3.0 (+1)	2,577 (-3%)	3mo	$358,000	$139	59
222 Astor St	0.51mi	5/3.0 (+1)	2,577 (-3%)	2mo	$363,000	$141	58
221 Astor St	0.52mi	5/3.0 (+1)	2,577 (-3%)	2mo	$369,500	$143	58
137 Arden Ct	0.40mi	5/3.0 (+1)	2,577 (-3%)	8mo	$344,999	$134	58
149 Astor St	0.35mi	5/3.5 (+1)	2,577 (-3%)	9mo	$339,999	$132	58
119 Era St	0.67mi	3/2.5 (-1)	2,860 (+8%)	10mo	$585,000	$205	39

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 · 2.13% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.47×
• Total profit: $-45,467
• Equity at exit: $45,476

10-year hold

• IRR: -7.9%
• Equity multiple: 0.52×
• Total profit: $-40,813
• Equity at exit: $26,371

Cash invested: $85,400 (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 28166

• Home prices YoY: -23.7%
• Rents YoY: 2.1%
• Active inventory: 265
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,572 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$207 /mo · $2,482/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $98

Break-even live

Break-even rent $2,447

Max offer price $305,000

Occupancy floor 91%

Sensitivity live

Price	-10% $271	-5% $185	+0% $98	+5% $12	+10% $-74
Rent	-10% $-105	-5% $-3	+0% $98	+5% $200	+10% $301
Rate	-1.0pp $252	-0.5pp $176	base $98	+0.5pp $19	+1.0pp $-61

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
248 Mills Ave Troutman, NC	4.0	3.0	2134	$2,350	$1.10	25d	1	0.40mi
173 Calvin Creek Dr Troutman, NC	5.0	3.0	2556	$2,805	$1.10	14d	1	1.17mi
118 Wembury Ln Troutman, NC	5.0	2.5	2384	$2,455	$1.03	6d	1	1.24mi
123 Wembury Ln Troutman, NC	4.0	2.5	1800	$2,210	$1.23	6d	1	1.28mi
138 Wembury Ln Troutman, NC	4.0	2.5	1800	$2,155	$1.20	0d	1	1.29mi

Listing history 27 events

1. 2026-06-21
   days on market $305,000 Active 307 DOM
2. 2026-06-18
   days on market $305,000 Active 304 DOM
3. 2026-06-17
   days on market $305,000 Active 303 DOM
4. 2026-06-16
   days on market $305,000 Active 302 DOM
5. 2026-06-15
   days on market $305,000 Active 301 DOM
6. 2026-06-13
   days on market $305,000 Active 299 DOM
7. 2026-06-13
   days on market $305,000 Active 298 DOM
8. 2026-06-09
   days on market $305,000 Active 295 DOM
9. 2026-06-08
   days on market $305,000 Active 294 DOM
10. 2026-06-07
    days on market $305,000 Active 293 DOM
11. 2026-03-10
    price $305,000
12. 2026-01-07
    price $329,900
13. 2025-10-23
    price $349,900
14. 2025-09-05
    price $374,900
15. 2025-08-12
    listed $384,900 Active
16. 2025-01-21
    price $280,000
17. 2025-01-21
    price $280,000
18. 2025-01-08
    price $299,900
19. 2024-12-27
    listed $319,900 Active
20. 2024-03-13
    price $415,000
21. 2024-02-11
    listed $429,999 Active
22. 2024-02-08
    historical
23. 2022-05-25
    price $2,200
24. 2022-03-26
    listed $399,000 Active
25. 2022-03-11
    historical
26. 2021-10-05
    soldstatus $150,000
27. 1995-09-01
    soldstatus $79,000

ⓘ 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: $2,482 · $207/mo
• Projected year-2 tax: $2,501 · $208/mo
• Expected delta: +$19/yr (+$2/mo · 0.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,859
• − Mortgage interest: −$17,085
• − Property taxes: −$2,482
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − Depreciation: −$8,873
• Taxable loss: −$4,042
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $2,149/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 — Troutman

• Score: 64/100
• State rank: #342
• US rank: #13725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troutman, NC
• County: Iredell County · 182,638 people
• City population: 11,875
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 11,875
• Household income: $93,511
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 167.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Hispanic / Latino 6% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 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: ▼ -71.32%
• Current HPI: 229.5993
• Rent YoY: ▲ 2.13%
• 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

+286.1% since first listed

17 events — show timeline

• 2026-03-10 Price Changed $305,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $329,900 CANOPYMLS as Distributed by MLS Grid
• 2025-10-23 Price Changed $349,900 CANOPYMLS as Distributed by MLS Grid
• 2025-09-05 Price Changed $374,900 CANOPYMLS as Distributed by MLS Grid
• 2025-08-12 Listed $384,900 CANOPYMLS as Distributed by MLS Grid
• 2025-01-21 Price Changed $280,000 Triad MLS
• 2025-01-21 Price Changed $280,000 CANOPYMLS as Distributed by MLS Grid
• 2025-01-08 Price Changed $299,900 Triad MLS
• 2024-12-27 Listed $319,900 CANOPYMLS as Distributed by MLS Grid
• 2024-03-13 Price Changed $415,000 CANOPYMLS as Distributed by MLS Grid
• 2024-02-11 Listed $429,999 CANOPYMLS as Distributed by MLS Grid
• 2024-02-08 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2022-05-25 Price Changed $2,200 RENT.
• 2022-03-26 Listed $399,000 CANOPYMLS as Distributed by MLS Grid
• 2022-03-11 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2021-10-05 Sold (Public Records) $150,000 Public Records
• 1995-09-01 Sold (Public Records) $79,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,482 · +0.0% YoY. Source: county tax records.