316 W 14th St · Salisbury, NC 28144

$409,000

4 bd · 3.5 ba · 2,728 sqft · MultiFamily public records · 24 Days on market

Built 1905 0.33 ac lot

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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 +28.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

Key facts

• Fully renovated
• Quartz countertops
• Open-floor layout

Tags

• FULLY RENOVATED
• OPEN-FLOOR LAYOUT
• NATURAL LIGHT
• LUXURY VINYL PLANK FLOORING
• QUARTZ COUNTERTOPS
• SOFT-CLOSE SHAKER CABINETS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: City water; Public sewer
• Home design: Single-family residence; Site-built construction; Two levels; Residential zoning
• Construction: Site-built construction; Other construction materials (see remarks); Crawl space foundation
• Exterior features: Front porch; Side porch; Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 4 bedrooms total (3 on the main level, 1 on the upper level); Some bedrooms include walk-in closets
• Flooring: Vinyl flooring
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Heat pump heating; Electric cooling
• Interior features: 15 total rooms; Insulated windows; Carbon monoxide and smoke detectors
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $409k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $409k).
• Recommended offer: $403k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.2% in Salisbury — 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 (#365 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities D-.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 291 active listings in the ZIP; 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• At $4,994/mo this rent would consume 114% of the median local household income ($53k/yr) (locally 1438% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $115k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $27k; list at $409k implies a 1415% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $402,865 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — 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. Crime grade is F 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $128,216
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
930-932 N Main St	0.59mi	3/2.0 (-1)	3,016 (+11%)	22mo	$143,000	$47	25

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $15,143
• Equity at exit: $60,983

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $117,962
• Equity at exit: $35,363

Cash invested: $114,520 (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 28144

• Active inventory: 291
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $4,994 medium
• Mortgage (P&I): −$2,145
• Tax from tax record: −$351 /mo · $4,216/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,049
• Net cashflow: $1,279

Break-even live

Break-even rent $3,375

Max offer price $409,000

Occupancy floor 69%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,498
▸ 2× units	2	2	$2,498
Total (4 units)			$4,994

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: $102,250
• Closing costs: $12,270
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-02
   status $409,000 Pending 24 DOM
2. 2026-06-01
   days on market $409,000 Active 24 DOM
3. 2026-05-31
   days on market $409,000 Active 23 DOM
4. 2026-05-08
   listed $409,000 Active
5. 2026-04-20
   historical $2,500
6. 2026-04-02
   listed $2,500
7. 2026-04-01
   historical $2,500
8. 2026-01-28
   listed $2,500
9. 2026-01-28
   historical $2,500
10. 2025-10-05
    listed $2,500
11. 2025-10-01
    price $419,000
12. 2025-08-06
    price $429,000
13. 2025-07-25
    listed $479,000 Active
14. 2025-07-23
    historical
15. 2020-06-19
    soldstatus $27,000
16. 2015-03-03
    soldstatus $65,000 Closed 199-char remark

    Show marketing remark (199 chars)

    This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

17. 2015-03-03
    soldstatus $65,000

    Show marketing remark (199 chars)

    This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

18. 2015-02-25
    soldstatus $65,000
19. 2015-02-13
    historical Under Contract - Show 199-char remark

    Show marketing remark (199 chars)

    This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

20. 2014-12-04
    price $72,500 199-char remark

    Show marketing remark (199 chars)

    This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

21. 2014-10-22
    listed $79,900 Active 199-char remark

    Show marketing remark (199 chars)

    This classic home is perfect for a home with in-law suite, duplex, or a grand family size home. Freshly painted inside and out, gas furnace 2008, two kitchens. Owner is Licensed Real Estate Broker.

22. 2014-10-21
    listed $72,500

ⓘ 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: $4,216 · $351/mo
• Projected year-2 tax: $4,216 · $351/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $59,928
• − Mortgage interest: −$22,910
• − Property taxes: −$4,216
• − Insurance: −$2,045
• − Repairs & maintenance: −$4,794
• − Management: −$4,794
• − Depreciation: −$11,898
• Taxable income: $9,270
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $13,120/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Salisbury

• Score: 64/100
• State rank: #365
• US rank: #14533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, NC
• County: Rowan County · 103,630 people
• City population: 85,081
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 27,977
• Household income: $52,568
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1438.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 49% Black 35% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.00%
• Current HPI: 276.1097
• Rent YoY: —
• 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

+464.1% since first listed

19 events — show timeline

• 2026-05-08 Listed $409,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Rental Removed $2,500 BUILDIUM
• 2026-04-02 Listed for Rent $2,500 BUILDIUM
• 2026-04-01 Rental Removed $2,500 CANOPYMLS
• 2026-01-28 Listed for Rent $2,500 CANOPYMLS
• 2026-01-28 Rental Removed $2,500 BUILDIUM
• 2025-10-05 Listed for Rent $2,500 BUILDIUM
• 2025-10-01 Price Changed $419,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-06 Price Changed $429,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-25 Listed $479,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-23 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2020-06-19 Sold (Public Records) $27,000 Public Records
• 2015-03-03 Sold (MLS) $65,000 CANOPYMLS as Distributed by MLS Grid
• 2015-03-03 Sold (MLS) $65,000 CANOPYMLS as Distributed by MLS Grid
• 2015-02-25 Sold (Public Records) $65,000 Public Records
• 2015-02-13 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2014-12-04 Price Changed $72,500 CANOPYMLS as Distributed by MLS Grid
• 2014-10-22 Listed $79,900 CANOPYMLS as Distributed by MLS Grid
• 2014-10-21 Listed $72,500 CANOPYMLS as Distributed by MLS Grid

Property tax history

+10.3%/yr

Latest (2025): $4,216 · +201.8% YoY. Source: county tax records.