410 York Rd #45 · Troutman, NC 28166

$315,000

4 bd · 3.0 ba · 1,639 sqft · SingleFamily · 63 Days on market

Built 1982 Good condition 0.33 ac lot $192/sqft · 19% below area Est $391k · 19% 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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• 1% rule +1.7/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Updated Split-level home ready for you! Walk onto designer LVP Flooring throughout this entire home. Enter on the Main level into the Great room which is a nice size with beautiful updated ceiling fan. Walk around the corner to the Dining area and Kitchen. Throughout this home they used Black Matte Fixtures in the Lighting and Plumbing. Beautiful Black Matte Chandelier hangs in the Dining Area. Kitchen is updated with White Cabinets, White quartz and NEW SS Appliances. On the Upper level host 3 bedrooms and 2 full baths. The Primary bedroom is on this floor. Lower level features the Laundry Room, Bedroom with full bath and good flex area that could be a 2nd den or home office.

Key facts

• 0.33 acre lot
• Built 1982
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $315k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-498 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (32.5% below list).
• Recommended offer: $213k (32.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.4% 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); 381 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 60d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 63 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $212,566 (32.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

• ARV (median comp): $390,781
• List price: $315,000
• Delta: -19.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 York Rd	0.00mi	4/3.0	1,639 (0%)	2mo	$299,000	$182	98
220 Valleybrook Ln	0.29mi	4/2.0	1,648 (+0%)	5mo	$297,500	$181	78
483 York Rd	0.28mi	3/2.0 (-1)	1,672 (+2%)	7mo	$385,000	$230	69
712 Georgie St	0.42mi	3/2.5 (-1)	1,644 (+0%)	5mo	$329,000	$200	69
495 York Rd	0.32mi	3/2.0 (-1)	1,683 (+3%)	5mo	$380,000	$226	67
104 Tanner Loop	0.42mi	3/2.0 (-1)	1,552 (-5%)	0mo	$378,900	$244	62
103 Tradesmen Trl	0.41mi	3/2.0 (-1)	1,552 (-5%)	2mo	$382,900	$247	62
124 N Shayna Rd	0.23mi	4/2.0	1,862 (+14%)	7mo	$375,000	$201	57
104 Milliner Dr	0.47mi	4/2.5	1,823 (+11%)	6mo	$323,000	$177	52
147 Tanner Loop	0.55mi	4/2.5	1,852 (+13%)	3mo	$350,000	$189	48
115 Tradesmen Trl	0.40mi	3/2.0 (-1)	1,857 (+13%)	4mo	$370,000	$199	47
114 Tradesmen Trl	0.43mi	3/2.0 (-1)	1,853 (+13%)	4mo	$399,900	$216	46

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: -29.0%
• Equity multiple: 0.04×
• Total profit: $-84,550
• Equity at exit: $46,968

10-year hold

• IRR: -32.8%
• Equity multiple: -0.38×
• Total profit: $-121,744
• Equity at exit: $27,235

Cash invested: $88,200 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 25 active · 29 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $382,000 ($220/sqft)
• Median days on market: 104 d
• This list price: 8% of active listings are priced below it
• ARV vs active asking: +8.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28166

• Home prices YoY: -23.7%
• Rents YoY: 2.1%
• Active inventory: 381
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,126 high
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-498

Break-even live

Break-even rent $2,756

Max offer price $242,993

Occupancy floor —

Sensitivity live

Price	-10% $-280	-5% $-389	+0% $-498	+5% $-606	+10% $-715
Rent	-10% $-666	-5% $-582	+0% $-498	+5% $-414	+10% $-330
Rate	-1.0pp $-339	-0.5pp $-418	base $-498	+0.5pp $-579	+1.0pp $-662

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: $78,750
• Closing costs: $9,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 Stratford Rd Troutman, NC	3.0	2.0	1380	$1,695	$1.23	4d	1	0.17mi
135 Tradesmen Trl Troutman, NC	3.0	2.0	1853	$2,140	$1.15	43d	1	0.43mi
110 Tavern Trl Troutman, NC	4.0	2.5	1800	$1,950	$1.08	84d	1	0.50mi
731 Georgie St Troutman, NC	3.0	2.0	1761	$1,900	$1.08	59d	1	0.52mi
260 Mills Ave Troutman, NC	4.0	2.5	2034	$2,350	$1.16	43d	1	0.64mi
248 Mills Ave Troutman, NC	4.0	3.0	2134	$2,350	$1.10	119d	1	0.66mi
229 Wagner St Troutman, NC	3.0	2.0	1500	$1,500	$1.00	29d	1	0.71mi
260 Klutz St Troutman, NC	4.0	2.0	1553	$1,750	$1.13	119d	1	0.71mi
123 Wembury Ln Troutman, NC	4.0	2.5	1800	$2,055	$1.14	59d	1	0.73mi
135 S Sina St Troutman, NC	3.0	2.0	1315	$1,825	$1.39	10d	1	0.75mi
116 Rills Crossing Way Statesville, NC	4.0	2.5	1800	$2,155	$1.20	59d	1	0.76mi
138 Wembury Ln Troutman, NC	4.0	2.5	1800	$2,155	$1.20	94d	1	0.78mi
124 S Sina St Troutman, NC	3.0	2.5	1692	$1,874	$1.11	10d	1	0.79mi
152 Talley St Unit NA Troutman, NC	3.0	2.0	1603	$1,750	$1.09	119d	1	0.81mi
152 Talley St Troutman, NC	3.0	2.0	1603	$1,750	$1.09	108d	1	0.81mi
126 Brixham Loop Troutman, NC	3.0	2.5	1742	$1,900	$1.09	0d	1	0.83mi
112 S Sina St Statesville, NC	3.0	2.0	1316	$1,955	$1.49	108d	1	0.83mi
153 Susannah St Statesville, NC	4.0	2.5	1800	$2,255	$1.25	74d	1	1.02mi
115 Shenandoah Loop Troutman, NC	3.0	2.0	1138	$1,599	$1.41	10d	1	1.04mi
150 Scotsway Ct Troutman, NC	3.0	2.5	2246	$2,040	$0.91	23d	1	1.04mi

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parkingFour open parking spaces
• Security: Smoke detectors installed
• Utilities: City waterPublic sewerElectricity connected
• Home design: Single-family residenceSite-built constructionSplit-level homePrimary suite on the upper level
• Construction: Partial brick and vinyl exteriorComposition roofCrawl space foundationBuilt by a custom builder
• Exterior features: Wooded lotConcrete/paved public road accessLot dimensions approximately 81 x 186 x 82 x 185

Interior

• Kitchen: DishwasherDisposalElectric rangeMicrowaveSelf-cleaning ovenPlumbed for ice makerElectric water heater
• Bedrooms: Four bedrooms total — three on the upper level and one on the lower level
• Flooring: Vinyl flooring
• Bathrooms: Three full bathrooms (two on the upper level, one on the lower level)
• Heating & cooling: Central heating and coolingElectric heat pump
• Interior features: Insulated windowsInsulated doors12 total rooms
• Laundry & utility: Laundry room with washer and electric dryer hookupsLower-level laundry areaCommon area laundry access

Listing history 17 events

1. 2026-06-13
   days on market $315,000 Active 63 DOM
2. 2026-06-13
   days on market $315,000 Active 62 DOM
3. 2026-06-09
   days on market $315,000 Active 59 DOM
4. 2026-06-08
   days on market $315,000 Active 58 DOM
5. 2026-06-07
   days on market $315,000 Active 57 DOM
6. 2026-06-04
   days on market $315,000 Active 54 DOM
7. 2026-06-03
   days on market $315,000 Active 53 DOM
8. 2026-06-02
   days on market $315,000 Active 52 DOM
9. 2026-06-01
   days on market $315,000 Active 51 DOM
10. 2026-05-31
    pricedays on market $315,000 Active 50 DOM
11. 2026-05-20
    price $324,900
12. 2026-05-13
    price $329,900
13. 2026-05-07
    price $335,000
14. 2026-05-02
    price $339,900
15. 2026-04-24
    price $345,000
16. 2026-04-17
    price $350,000
17. 2026-04-11
    listed $365,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,508
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,041
• − Management: −$2,041
• − Depreciation: −$9,164
• Taxable loss: −$11,682
• Est. tax savings @ 24.0%: +$2,804
• After-tax cash flow: $-3,168/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $8,195–$24,585 screening

This split-level home is in good condition with recent updates, ready for a new owner to move in and enjoy. The home has a fresh paint job, new flooring, and modern appliances, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Installing new flooring in the kitchen and bathrooms — New flooring can improve the look and feel of the home ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality ↑
• Both Adding a deck or patio area — An outdoor living space can increase the home's value and appeal ↑
• Both Upgrading the lighting fixtures — Modern lighting can improve the home's ambiance and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Troutman Elementary C NC #335/1,410 Nat'l #10,846/41,679 Middle Troutman Middle F NC #251/475 Nat'l #6,571/14,009 High South Iredell High C+ NC #216/535 Nat'l #3,588/17,239

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

C Composite livability gradescore 64/100

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 · 194,510 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

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parkingFour open parking spaces
• Security: Smoke detectors installed
• Utilities: City waterPublic sewerElectricity connected
• Home design: Single-family residenceSite-built constructionSplit-level homePrimary suite on the upper level
• Construction: Partial brick and vinyl exteriorComposition roofCrawl space foundationBuilt by a custom builder
• Exterior features: Wooded lotConcrete/paved public road accessLot dimensions approximately 81 x 186 x 82 x 185

Interior

• Kitchen: DishwasherDisposalElectric rangeMicrowaveSelf-cleaning ovenPlumbed for ice makerElectric water heater
• Bedrooms: Four bedrooms total — three on the upper level and one on the lower level
• Flooring: Vinyl flooring
• Bathrooms: Three full bathrooms (two on the upper level, one on the lower level)
• Heating & cooling: Central heating and coolingElectric heat pump
• Interior features: Insulated windowsInsulated doors12 total rooms
• Laundry & utility: Laundry room with washer and electric dryer hookupsLower-level laundry areaCommon area laundry access