134 Knight N Gail Dr · Mooresville, NC 28115

$259,900

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 39 Days on market

Built 1999 0.44 ac lot Est $284k · 8% 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 +23.0/30.0
• ARV discount +11.3/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in-ready ranch home. Spacious and private 0.44-acre lot. This 3-bedroom, 2-bathroom home offers a peaceful lifestyle just minutes from the vibrant energy of Downtown Mooresville, the Langtree area, convenient shopping, and easy access to I-77. Located in Ashley Woods. • Renovated Interior: Features beautiful floors throughout Home and a bright, welcoming atmosphere with all appliances included. • Up to date: All new appliances 2024, LED light throughout home, full security system. • Outdoor Living: Enjoy your morning coffee or evening gatherings on the large rear deck, overlooking a private, expansive backyard perfect for play or pets. • Efficient Systems: Equipped

Key facts

• Central hvac
• 0.44-acre lot
• New appliances

Tags

• 0.44-ACRE LOT
• RENOVATED INTERIOR
• NEW APPLIANCES
• LARGE REAR DECK
• PRIVATE EXPANSIVE BACKYARD
• CENTRAL HVAC

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: Well water; Septic system
• Home design: Single-family manufactured doublewide; One story; Residential zoning (RA)
• Construction: Manufactured construction; Other construction materials (see remarks); Crawl space foundation
• Exterior features: Lot includes property; 0.44-acre lot; Roads are gravel and paved; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Exhaust hood; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heat; Central air conditioning
• Interior features: 8 total rooms; Central heating; Central air
• Laundry & utility: In-unit laundry; Electric dryer hookup; Gas dryer hookup; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/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 $251k (3.3% below list).
• Recommended offer: $251k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 8.4% vs local median 3.0% in Mooresville — 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 73/100 on livability (#66 in NC) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: 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: Coddle Creek Elementary (math 71% / reading 68%, grade A-, #95 of 1,410 statewide, top 7%, 696 students, 27% FRL); The Brawley School (math 91% / reading 88%, grade A+, #2 of 475 statewide, top 0%, 639 students, 9% FRL); Lake Norman High (math 78% / reading 71%, grade B+, #92 of 535 statewide, top 18%, 1,986 students, 16% FRL) — zoned schools average 17% FRL vs 38% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 78% at this address vs 52% district-wide (+25 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 (+1.6%/yr); 499 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,955 units permitted in Iredell County in 2024 (128 in 5+ unit buildings).
• This rent runs 34% of the median local income ($88k/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 $2k of loan paydown is wiped out by about $8k 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 39 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $92k; list at $260k implies a 184% gain — meaningful room to come down on a strong offer.

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 $251,350 (3.3% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 8.41%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $283,920
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1410 Shearers Rd	0.22mi	3/1.0	948 (-9%)	9mo	$259,000	$273	63
174 Bluffton Rd	0.75mi	3/2.0	1,183 (+14%)	23mo	$309,500	$262	23

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-16,524
• Equity at exit: $38,752

10-year hold

• IRR: 1.8%
• Equity multiple: 1.12×
• Total profit: $8,646
• Equity at exit: $22,471

Cash invested: $72,772 (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 28115

• Rents YoY: 1.6%
• Active inventory: 499
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,514 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $459

Break-even live

Break-even rent $1,932

Max offer price $259,900

Occupancy floor 77%

Sensitivity live

Price	-10% $607	-5% $533	+0% $459	+5% $386	+10% $312
Rent	-10% $261	-5% $360	+0% $459	+5% $559	+10% $658
Rate	-1.0pp $590	-0.5pp $526	base $459	+0.5pp $392	+1.0pp $324

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11111 Mill Spring Ln Concord, NC	1.0–2.0	1.0–2.0	912	$2,000	$2.19	0d	120	0.46mi
19020 Potts Park Ln Davidson, NC	1.0–3.0	1.0–2.0	1102	$3,674	$3.33	0d	58	1.09mi

Listing history 14 events

1. 2026-06-13
   days on market $259,900 Active 39 DOM
2. 2026-06-13
   days on market $259,900 Active 38 DOM
3. 2026-06-09
   days on market $259,900 Active 35 DOM
4. 2026-06-08
   days on market $259,900 Active 34 DOM
5. 2026-06-07
   days on market $259,900 Active 33 DOM
6. 2026-06-04
   days on market $259,900 Active 30 DOM
7. 2026-06-03
   days on market $259,900 Active 29 DOM
8. 2026-06-02
   days on market $259,900 Active 28 DOM
9. 2026-06-01
   days on market $259,900 Active 27 DOM
10. 2026-05-31
    days on market $259,900 Active 26 DOM
11. 2026-05-11
    price $269,900
12. 2026-05-05
    listed $279,000 Active
13. 2020-04-03
    soldstatus $91,500
14. 1999-11-01
    soldstatus $19,000

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $2,131 · $178/mo
• Expected delta: +$1,471/yr (+$123/mo · 222.8%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,162
• − Mortgage interest: −$14,558
• − Property taxes: −$660
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$7,561
• Taxable income: $1,257
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $5,211/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 — Mooresville

• Score: 73/100
• State rank: #66
• US rank: #5026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Iredell County · 182,638 people
• City population: 92,370
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 43,544
• Household income: $87,787
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 803.0

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 (77%)
• Race & ethnicity: White 77% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 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: ▼ -135.96%
• Current HPI: 246.6181
• Rent YoY: ▲ 1.58%
• 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

+1320.5% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $269,900 CANOPYMLS as Distributed by MLS Grid
• 2026-05-05 Listed $279,000 CANOPYMLS as Distributed by MLS Grid
• 2020-04-03 Sold (Public Records) $91,500 Public Records
• 1999-11-01 Sold (Public Records) $19,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $660 · +0.0% YoY. Source: county tax records.